Result list 6 April 2019

The results of our April 6 sale will be online on April 7 here. .

Lotnumber: 82
HANOI. Action nominative de F2000. black, buff. #720. No 445. Large format with text in French and also some Chinese. The two right borders have been cut (hence VG condition), perhaps for cancellation. Folds. Formed Hanoi 1887, with 720 shares of Fr.2000 each. Printed in Hanoi - rare for such an early date. Franceobtained control over northern Vietnam following its victory over China in the Sino-French war (1884-1885). French Indochina was formed in October 1887 from Annam, Tonkin, Cochinchine (which together form modern Vietnam and the French protectorate of Cambodia Laos was added after the Franco-Siamese War. Prior to French acquisition, the emperor of Annam had given a concession to certain Chinese residents in the north (Tonkin) for the import of opium from India and China, for consumption by the localpeople. The French took over this concession and granted it, for 8 years, to M. Saint-Mathurin, a well-established French businessman in Indochina, who formed this company to administer it ; he was granted a similar concession for Annam, the central region, and formed a similar company there, in Huê. The remaining 90% of the shares were bought by Chinese dealers in the area. The opium came from Patna and Benares, India, via Calcutta to two stipulated ports in Tonkin (Haiphong and another) and fromYunnan, southwest China, by two stipulated land crossings. At each entry point a tax was payable to the company, part for the colonial government. In 1893, the government decided that it was not necessary to import the opium, as the poppies could very well be grown locally. The company's concession was cancelled; Saint-Mathurin demanded Fr.1.200.000 in compensation, but the court decided he should receive only Fr.800.000. The government then embarked on an ambitious program of planting of opium poppies, and the area soon became an important producer of the valuable crop. Opium is the dried latex obtained from the opium poppy. Opium contains up to 12% morphine, which is frequently processed chemically to produce heroin for the illegal drug trade. In China recreational use of this drug began in the fifteenth century but was limited by its rarity and expense. Opium trade became more regular by the seventeenth century, when it was mixed with tobacco for smoking, and addiction was first recognized. Opium prohibition in China began in 1729 yet was followed by nearly two centuries of increasing opium use. The British tried to encourage Chinese opium use, for trade balance reasons, and they delivered it from Indian provinces under British control. In India, its cultivation, as well as the manufacture and traffic to China, were subject to the East India Company, as a strict monopoly of the British government. A massive confiscation of opium by the Chinese emperor, who tried to stop the opium deliveries, led to two Opium Wars in 1839 and 1858, in which Britain suppressed China and traded opium all over the country. After 1860, opium use continued to increase with widespread domestic production in China, until more than a quarter of the male population were regular consumers by 1905, and had spread into neighbouring countries, such as Indochina, where it was widely offered by Chinese traders. Global regulation of opium began with the stigmatization of Chinese immigrantsand opium dens in San Francisco leading rapidly from town ordinances in the 1870s to the formation of the International Opium Commission in 1909. During this period, the portrayal of opium in literature became squalid and violent, British opium trade was largely supplanted by domestic Chinese production, purified morphine and heroin became widely available for injection, and patent medicines containing opiates reached a peak of popularity. Opium was prohibited in many countries during the early twentieth century, leading to the modern pattern of opium production as a precursor for illegal recreational drugs or tightly regulated legal prescription drugs. Only once before seen by us.
Date: December 1887
Quality: VG
Startprice: € 1000