§ 6. Mr. THEODORE C. TAYLORasked the Secretary of State for Foreign Affairs whether he is aware that the stocks of unsold Indian opium in Shanghai are being held by a syndicate of dealers; whether he is aware that the syndicate has realised and is realising from recent sales profits amounting to as much as 100 per cent.; and whether the time has now arrived when we should cease to compel China to permit her subjects to purchase from this syndicate the drug the production of which she prohibits in her own territory because its use is so ruinous to her people?
§ Mr. ACLANDI am aware of the circumstances referred to by the hon. Member in the first two parts of the question, but have no information as to the exact amount of profits that the holders of the stocks of Indian opium in China have realised. Under the agreement of 1911 provinces which are shown not to produce or import native opium can be closed to Indian opium, and action will no doubt 1077 be taken whenever or wherever this condition exists as it has been in the past.
§ Mr. T. C. TAYLORIs the hon. Gentleman not aware that the opium in question was bought by the syndicate at from 3,000 to 4,000 rupees per chest, and is being sold in China ot 6,000 to 7,000 taels per chest, which represents profits of from 100 to 200 per cent.?
§ Mr. ACLANDI believe that is about the rate of profit recently.
§ Sir J. D. REESIs the hon. Gentleman aware that these merchants have been a long time out of their money, and it is a question of justice?
§ Mr. ACLANDI believe they are making enormous profits wholesale.