13. The war ended with the Treaty of Nanking
By the end of the summer of 1842, British military gains had all but bankrupted the Emperor’s treasury, disrupted China’s ability to distribute food across the country, and destroyed much of its military. Delegations from the hostile parties met at Nanking in negotiations which lasted several weeks. On August 21 the Daoguang Emperor acceded to his advisors and authorized the Qing delegates to sign the treaty, ending the war. The Qing government obligated itself to pay $6 million in silver as reparations for the opium destroyed before the outbreak of the war. Other reparations levied a total of $21 million on the Qing government, to be paid over three years at 5% interest.
The Chinese were told which of their ports would be open to trade in addition to Canton, and the requirement to use the Cohong as intermediaries were ended. Hong Kong became a Crown Colony of Great Britain. The opium trade was not made legal by the treaty, though in a subsequent treaty with the United States, the Americans agreed to abide by Chinese law and refrain from the opium trade. The opium trade remained in place, and was expanded by the opening of other ports to international trade. Most of Lord Palmerston’s expressed goals for the war were achieved, though opium continued to be illegally traded in China for another fifteen years.