CO129-425 - Governor Sir May - 1915 [10-12] — Page 525

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tael (the oli selling price) in Hongkong and to smugle it to Canton, and I would have made a greater advance in the price of the drug here were it not for the fact that the price at Macao is still only $10 a tael and that a large disparity between the price in that Colony and in Hongkong would result in smugglin

from Kacao to this Colony.

4.

I an endeavouring to induce the Government of Macao to raise their price. If I succeed in inducing them to advance it pari passu with the price in this Colony, if the price in Canton is maintained and if the present advance in price made

here does not check consumption, I propose to raise the price sti

higher.

5.

The estimated gross revenue from the sale of

prepared opium show in the Estimates for 1916 is $4,250,000.

This was based on a conmurption of 7,000 taels a week or roughly a thel 350 chests per mmum at $10.00 The estimated consumption is

now 7,750 trels a week or 385 chests per annum which at $11.00 a

toel would give a gross revenue of $4,743,000. This estimate is

based on the returns for the last few months, and allowance has

been made for a slight reduction in sales on the increase in price. From the gross sum of 2493,000 has to be deducted $98,600 for Military Contribution and a sum of $48,000 for additional

loss in demonetizing subsidiary coin recaivei as revenue.

I have the honour to be,

sir,

Your most obeliant,

humble servant,

Ronay

Governor,40..