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Opium
Essay specific features
Written by:
Richard B
Date added:
September 29, 2014
Level:
University
Grade:
A
No of pages / words:
2 / 516
Was viewed:
6233 times
Rating of current essay:
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...
displayed 300 characters
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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...
displayed 300 characters
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