CO129-368 - Acting Governor May - 1910 [8-9] — Page 453

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relieved by a recent improvement in clearances which is

said to be due to the Chinese Authorities being less

strict in enforcing the regulations and tax. I do not

know what truth there is in this latter surmise.

I have obtained the facts set

out above in order to convey to Your Lordship, and I

trust through Your Lordship to His Majesty's Consular

Officers in China, some idea of the magnitude of the

interests involved in a trade which Merchants and Traders

and Bankers in this Colony have a right to regard as

legitimate and protected under existing Treaties. The

sudden and wanton interference of the Viceroy has already

caused heavy losses to those concerned in that trade, and

has narrowly escaped inducing a financial crisis of great

magnitude.

{

I regret to have to add my

opinion that if timely action had been taken in Canton when

the Viceroy's proposals were first mooted to His Britannic

Majesty's Consul-General those losses would have been

avoided and those concerned in the trade would not now be

struggling to escape from a financial dilemma which,

unless removed, may yet cause the ruin of some of them.

I