History of merchant shipping and ancient commerce, Volume 3 (of 4)Lindsay, W. S. (William Schaw)
History
History of merchant shipping and ancient commerce, Volume 3 (of 4)
Lindsay, W. S. (William Schaw)
Commerce -- History; Shipping -- History; Steam navigation -- History
[64] It was contended that as the whole freight of sugar was only
3_l._ per ton from the West Indies or Cuba, equal to one-third
of a penny per lb., while the duty was 14_s._ per cwt., or
1½_d._ per lb., any reduction in the freight could not reach
the consumer. Such was, also, the case with other articles of large
consumption. The average freight of tea was 4_l._ 15_s._
per ton, of 50 cubic feet, equal to 1-5/10_d._ per lb., the duty
2_s._ 2_d._ per lb. The average freight on tobacco from New
Orleans had been 50_s._ per hogshead, or equal to 7/15ths of a
penny per lb.; from Virginia, 35_s._ per hogshead, or one-third
of a penny per lb.; the duty being 3_s._ per lb. Taking flour
from the United States at 4_s._ per barrel, freight would be a
farthing a lb. The freight upon indigo at 4_l._ 15_s._ per
ton, of 50 cubic feet, would be equal to 11/16 a lb. The freight on
coffee at 4_l._ per ton is equal to about one-third of a penny
per lb., the duty on foreign being 6_d._, and on coffee from
the British possessions 4_d._ per lb. On cotton the average
freight for the previous ten years from Bombay, 3_l._ 5_s._
4_d._ per ton, of 50 cubic feet, which is equivalent to 7/16ths
of a penny per lb.; from the United States it was estimated at 5/8ths
of a penny per lb. At these rates, it was urged that it would require
a microscopic coinage to secure it to the consumer; it would all be
absorbed. Supposing the freight to be reduced one-third, below which
no British shipowner could live, leaving a fair freight to pay for the
expenses of the ship, and a small profit, and supposing the freight to
be so reduced from the foreigner sailing cheaper than we could, it was
contended that no benefit could result to the consumer: on the other
hand, by its retention, you retain, also, that which it is of the most
vital interest for any country to retain, its national defences.
Public-domain text, read in full here on John Shaqi.
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