Tea Leaves: Being a Collection of Letters and Documents relating to; the shipment of Tea to the American Colonies in the year; 1773, by the East India Tea Company. (With an introduction,; notes, and biographical notices of the Boston Tea Party)Drake, Francis S. (Francis Samuel)
History
Tea Leaves: Being a Collection of Letters and Documents relating to; the shipment of Tea to the American Colonies in the year; 1773, by the East India Tea Company. (With an introduction,; notes, and biographical notices of the Boston Tea Party)
Drake, Francis S. (Francis Samuel)
Boston Tea Party, 1773; Tea tax (American colonies)
Agreeable to your desire, I send you a pro forma invoice of 6 chests
Dutch Boheas, so as they come to stand on board if they were shipped
here; but as the shipping is at Amsterdam, the charges may be somewhat
higher. In regard to what they estimate, the risk that in America for
running in the teas I cannot inform you, this you may be better able to
learn from some of your New England houses, as our underwriters will not
sign against the risk of seizures; but I fancy the risk is not very
great, as the trade is carried on for so large parcels.
Pro forma invoice of 6 chests of Dutch Bohea tea:
lbs.
320 Tare of 4 chests, under 400
------
360 at 84 lb. each, 336} 2270
370 }
390 do. of 2 chests above } 516
410 400 @ 90 lb. each 180} ---- 1754 @ 24s. L2104 16
420 off 1 pr cent., 21 2
--------
L2083 14
CHARGES.
Custom and Passport, L20 4s
Sleding, 1 7
1/2 weigh money, 13 0
Brokerage, 10 8
Shipping, 3 0
Commission, 2 per cent. on L2131 13s. 42 12
--------
90 11
--------
L2174 5[25]
_Estimate of the advantages attending the Tea trade to North America, if
carried on from England:_
Observe 1st. In the following calculation, no more than half the
consumption of the Continent, as estimated by Messrs. Hutchinson, in
their letter of the 10th Sepr., 1771, is assumed as the whole, as from
the mode in which they were under the necessity of making their
estimate, it was liable to error, and 19,200 chests is more than has
been hitherto annually imported from China by all foreign companies.
2ndly. That this calculation is formed upon Bohea tea only, the species
of tea already consumed there; yet it is probable by degrees other
species might be introduced, the vend of which may be more profitable to
the Company. 9600 chests of Bohea tea, each containing 340 lbs., makes
3,264,000 lbs., if sold at 2s. 6d. Boston currency, (which is 4d. lower
than it appears to have been even at the time it was purchased in
Holland, at 15 stivers, or under 18d. pr lb., amounts to
L408,000
Deduct 25 pr cent. for exchange, 102,000
Sterling, L306,000
Deduct 6 pr cent. for commission and charges, 18,360
Annual net proceeds before the American } L287,640
duty is deducted, }
Public-domain text, read in full here on John Shaqi.
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