§ 2. Sir J. D. REESasked what is the speculative element on the part of purchasers of opium permits in Calcutta in respect of opium, which, under express treaty with the British Government, the Government of China is bound to admit for sale into the Chinese Empire, with the exception of certain listed portions thereof?
§ Mr. ACLANDI would refer the hon. Member to what I said in this House on the Motion for the Adjournment on 14th February last.
§ Sir J. D. REESDoes not the hon. Gentleman know that it is because of his use of the expression "speculative element" on that occasion that I have put this question, which he has not answered?
§ Mr. ACLANDTo reply quite fully would take too long, but I can mention 677 two matters which seem to justify the use of the word "speculative"; first, that it was always possible that the feeling against opium in China might lead to their ceasing to demand opium; and, secondly, that the Chinese Government might take advantage of the treaty of 1911, and exclude opium, under the terms of that treaty, either wholly or partially from that country. If those two things, not to mention others, do not justify the use of the word "speculative," I do not know what would.
§ Sir J. D. REESHas it become speculative to trust the British Government to carry out its agreement?
§ Mr. ACLANDI said that to engage in a trade in which there is a considerable probability of there being no demand for what you trade in must be a speculative affair.