The Story of the American Merchant MarineSpears, John Randolph
History
The Story of the American Merchant Marine
Spears, John Randolph
Merchant marine -- United States
Perkins are to have 5 per cent commission for the sales of the present
cargo, and 2½ per cent on the cargo home, and also 5 per cent on the
profit made on goods that may be purchased at Batavia and sold at Canton,
or in any other similar case that may arise on the voyage. They are to
have one-half the passage money--the other half belongs to the ship. The
privilege of Capt. Magee is 5 percent of what the ship carries on cargo
exclusive of adventures. The property of Mr. Perkins, it is understood,
is to be on freight, which is to be paid for like other freighters. It is
orders that the ship's books shall be open to the inspection of the mates
and doctor of the ship, so they may know the whole business" in case of
the death of captain or supercargo. "The Philadelphia beer is put up so
strong that it will not be approved until it is made weaker; you had best
try some of it.... The iron is English weight; ... there is four percent
you will gain if sold Dutch weight.... You are not to pay any moneys to
the crew while absent from home, unless in case of real necessity, and
then they must allow an advance for the money.... It is likewise my order
that in case of your sickness that you write a clause at the foot of
these orders putting the command of the ship into the person's hands that
you think the most equal to it, not having any regard to the station he
at present has in the ship.... Lay out for my account fifteen or twenty
pounds sterling in curiosities."
The sale of the _Astræ_ is forbidden for this voyage, but "if at Batavia
or Canton you can agree to deliver her the next season for $20,000 or
$25,000 you may do it." The final paragraph says that while the orders are
"a little particular" "you have leave to break them in any part where you
_by calculation_ think it for my interest."
As there were fifteen American ships at Canton when the _Astræ_ was
there, the market was flooded with American goods. Her ginseng sold for
$20,000 less than prime cost. Two of Derby's ships were sold; the other
two brought home 728,871 pounds of tea. Although the consumption of the
country at that time was only about a million pounds a year, the total
imports of the year amounted to 2,601,852 pounds. In the meantime the
government had been organized under the Constitution and a duty levied
on imports which, in the case of the _Astræ_, amounted to about $27,000.
On the face of the documents the voyage of the Astræ was disastrous. But
Derby, by petition, obtained the privilege of putting his goods in the
warehouse and paying the duty as they were sold and removed. The system
of bonded warehouses became common later. And according to the biography
of Captain Derby, published in _Hunt's Merchants' Magazine_, his capital
was not impaired seriously, if at all, by the voyage.
Public-domain text, read in full here on John Shaqi.
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