2
indemnify the merchants for the cost price and the actual out-of-pocket expenses of their present stocks. In the ordinary course of things these stocks, which amounted at the beginning of this month to 8,131 chests, would, if Shanghai and Canton are kept open, all pass into consumption before the end of the current year, and the holders would have secured enormous profite. The ratification of The Hague Con- vention, which would practically put an end to the trade as at present conducted, or other motives of general policy, might reasonably be held to justify the sacrifice of prospective profits, but not the confiscation of property purchased under the faith of a formal agreement.
I have, &c.
J. N. JORDAN.
[This Document is the Property of His Britannic Majesty's Government.]
C.
16765
OPIUM.
REC
[April 7.]
CONFIDEN ITAL.
REG 8 MAY 14
SECTION 1.
[1478}]
No. 1.
(No. 50.) Sir,
Sir Edward Grey to Sir M. de Bunsen,
Foreign Office, April 7, 1914. AT an interdepartmental committee recently held at this Office to discuss the instructions which should be given to the British delegates to the forthcoming International Opium Conference, it was decided that the principal obstacle to ratification of the convention by this country was the fact that the convention had not yet been signed by Austria-Hungary. It is considered, however, that Great Britain would be justified in ratifying the convention, provided that the Austro- Hungarian Government would make a definite statement in writing of their intention. to sign.
I request therefore that your Excellency will take such steps as appear to you advisable with the view of eliciting a written statement in this sense from the Austro-Hungarian Government.
I am, &c.
E. GREY.
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