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The Opium War's Secret History
Key Excerpts from Article on Website of New York Times
Posted: February 16th, 2015
http://www.nytimes.com/1997/06/28/opinion/the-opium-war-s-se...
In 1823 a 24-year-old Yankee, Warren Delano, sailed to Canton. Within seven years he was a senior partner in Russell & Company. Delano's problem, as with all traders, European and American, was that China had much to sell but declined to buy. The British struck upon an ingenious way to reduce a huge trade deficit. Their merchants bribed Chinese officials to allow entry of chests of opium from British-ruled India, though its importation had long been banned by imperial decree. Nearly every American company followed suit. As addiction became epidemic, and as the Chinese began paying with precious silver for the drug, their Emperor finally in 1839 named an Imperial Commissioner to end the trade. Commissioner Lin Tse-hsu proceeded to Canton, seized vast stocks of opium and dumped the chests in the sea. This ... furnished the spark for the Opium War, initiated by Lord Palmerston, the British Prime Minister, and waged with determination to obtain full compensation for the opium. The Celestial Empire was humbled, forced to open five ports to foreign traders and to permit a British colony at Hong Kong. Warren Delano returned to America rich. He eventually gave his daughter Sara in marriage to ... the father of Franklin Roosevelt. The old China trader was close-mouthed about opium, as were his partners in Russell & Company. It is not clear how much F.D.R. knew about this source of his grandfather's wealth.
Note: So FDR's grandfather struck it rich by dealing opium in China. Note that Samuel Russell, who founded Russell & Company, the most powerful opium trader of the time, was the cousin of William Russell, who founded Yale's Skull and Bones society, which counted among its members Presidents William Howard Taft, George H.W. Bush, and George W. Bush.
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