CO129-447 - Governor Sir May - 1918 [1-3] — Page 335

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attained by our own Monopoly by 30 per centum. Even the present Macao Farm, the quality of whose opium is already a by-word, falls short of this rate by about 200 taels per

chest.

4.

With all these favourable assumptions,

the estimate shows that the new Farm carnot be a financial

success without a substantial increase in the price of its

prepared opium an increase the success of which in view of the evil repute of the opium now being supplied by the

present Macao Form is very problematical.

There is strong suspicion, therefore, that

the new Syndicate hopes to supplement the allownee of 500

chests provided in the Agreement of 1913 by surreptitious

imports of raw opium from illicit sources, of which the

neighbouring French Concession of Kwong Cha Wan may be one.

I have the honour to be,

sir.

Your most obedient,

humble servant,

Governor,&c..