A GAME OF SPECULATION.
A very remarkable commercial “ operation ” is, according to the “ British Medical Journal,” now going on. An Anglo - American Syndicate, controlling very large funds, is purchasing all the medicinal opium in the world. About 4000 eases are known to be in existence, of which the Syndicate have bought half ; and they intend to buy the coming short crop from Turkey, estimated at only 3000 cases more. As opium is an article of prime necessity in medicine, and is consumed at the rate of 6000 cases a year, they calculate on raising the price from 18a a pound to 48s, and indeed have raised it already in New York to 265. The profit, it they succeed, will be enormous; but they run one or two serious risks, of which one is that a high price may check the consumption of laudanum for purposes other than medicine, and another is that science may utilise Indian opium. That drug is at present too refined and too weak in narcotic properties for medicine; but if the doctors want it, a second and much stronger extract could bo made and forwarded to Europe. The trick, however, is constantly played with quinine, and occasionally succeeds, the speculators getting double prices.
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Bibliographic details
Globe, Volume XXII, Issue 2044, 11 September 1880, Page 3
Word Count
207A GAME OF SPECULATION. Globe, Volume XXII, Issue 2044, 11 September 1880, Page 3
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