of this Essay: and it ought not to be greater in many parts of
Great Britain.
With regard to the price at which Indian Corn can be imported
into this country from North America in time of peace, the
following information, which I procured through the medium of a
friend, from Captain Scott, a most worthy man, who has been
constantly employed above thirty years as master of a ship in the
trade between London and Boston in the State of Massachusetts,
will doubtless be considered as authentic[19].
The following are the questions which were put to him,--with his
answers to them:
Q. What is the freight, per ton, of merchandise from Boston in
North America to London in time of peace?----A. Forty shillings
(sterling).
Q. What is the freight, per barrel, of Indian Corn?----A. Five
shillings.
Q. How much per cent. is paid for insurance from Boston to
London in time of peace?---- A. Two per cent.
Q. What is the medium price of Indian Corn, per bushel,
in New England?----A. Two shillings and sixpence.
Q. What is the price of it at this time?----A. Three shillings
and sixpence.
Q. How many bushels of Indian Corn are reckoned to a barrel?
----A. Four
From this account it appears that Indian Corn might, in time of
peace, be imported into this country and sold here for less than
four shillings the bushel;--and that it ought not to cost at this
moment much more than five shillings a bushel.
If it be imported in casks, (which is certainly the best way of
packing it,) as the freight of a barrel containing four bushels
is five shillings, this gives 1s. 3d. a bushel for freight; and
if we add one penny a bushel for insurance, this will make the
amount of freight and insurance 1s. 4d. which, added to the prime
cost of the Corn in America, (2s. 6d. per bushel in the time of
peace, and 3s. 6d. at this time,) will bring it to 3s. 10d. per
bushel in time of peace, and 4s. 10d at this present moment.
A bushel of Indian Corn of the growth of New England was found to
weigh 61 lb.; but we will suppose it to weigh at a medium only 60
lb. per bushel; and we will also suppose that to each bushel of
Corn when ground there is 9 lb. of bran, which is surely a very
large allowance, and 1 lb. of waste in grinding and sifting;--
this will leave 50 lb. of flour for each bushel of the Corn;
and as it will cost, in time of peace, only 3s. 10d. or 46 pence,
this gives for each pound of flour 46/50 of a penny, or 3 3/4
farthings very nearly.
If the price of the Indian Corn per bushel be taken at 4s. 10d.
what it ought to cost at this time in London, without any bounty
on importation being brought into the account,--the price of the
flour will be 4s. 10d equal to 58 pence for 50 lb. in weight,
or 1 1/6 penny the pound, which is less than one third of the
present price of wheat flour. Rice, which is certainly not more
nourishing than Indian Corn, costs 4 1/2 pence the pound.
Public-domain text, read in full here on John Shaqi.
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