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Essay

Opium

Essay specific features

 

Issue:

History

 

Written by:

Richard B

 

Date added:

September 29, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 516

 

Was viewed:

6227 times

 

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Essay content:

For example, the same problem - a net silver outflow instigated by an unequal balance of trade - had occurred in Britain twenty years previously. At this time Britain was consuming over 15 million pounds of Chinese tea per year. Britain had few manufactured goods which China wanted, so the bulk of payments for the tea were of necessity in silver...
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Britain had few manufactured goods which China wanted, so the bulk of payments for the tea were of necessity in silver. This outflow of bullion jeopardized the stability of the British economy, just as the loss of bullion due to the opium trade would threaten China in the early 1800's. By this example we see that an alternative product to opium, namely tea, could cause the same harmful economic processes - trade deficit and loss of silver supply - to occur...
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