On Monday the new Opium Agreement between Great Britain and
China was signed at Pekin. It provides that during the next seven years China shall diminish annually the production of native opium in the same proportion by which the export from India is diminished. If, however, the entire Chinese production is suppressed before the elapse of seven years, it is agreed that the export from India shall also cease entirely. It is also arranged that no Indian opium shall be imported into any province of China in which the native opium trade has been abolished. In addition to these concessions, the British Government has agreed during each of the next three years farther to reduce the exports of Indian opium by an amount equal to one-third of the quantity of Indian opium now lying in bond in the Chinese treaty ports. It is confidently believed that, as a matter of fact, the entire opium trade in China will have been suppressed within two years. From a reply given by Mr. Montagu to a question in the House of Commons on Tuesday, it appears that the loss to the Indian revenue will be over £3,000,000.
