Appendix: Buying and Selling Prices of Oriental Products
[The first list of prices that follows is from a compilation by the procurator of the Philippines, Martin Castaños, and is taken from a relation of Governor Juan de Silva entitled:]
Relation of the importance of the Filipinas and Terrenate
The Malucas Islands yield from year to year four thousand four hundred bars of cloves. Each bar is six hundred and forty libras. If his Majesty would make himself master of this, as well as of the nutmeg and mace, and establish his factories—in Yndia, in Ormuz,[1] for the nations who come from all Asia to trade for it; and in Lisboa, for Europa and the Yndias—it would be worth [from one year to another?] three million seven hundred pesos at the least, as I reckon it; because in India each libra of cloves is worth at Ormuz one peso, and in Lisboa a greater sum, while in the West Yndias it is worth more than two pesos.[2] Averaging them all together, it will be equivalent to ten reals per libra, which will amount to three million five hundred and twenty thousand pesos.... It will cost his Majesty to buy the cloves, in cloth, silks, and other things which the natives value, eighty thousand pesos; while the navigation and the pay of the factors will amount to one hundred and twenty thousand, all amounting to two hundred and thirty thousand pesos. Consequently, there will be a clear profit on the cloves of three million two hundred and ninety thousand pesos.
The nutmegs and mace when delivered in Europa cost the Dutch five hundred and twenty thousand pesos annually. The purchase, navigation, and [pay of] factors amount to one hundred and ten thousand pesos. Consequently, the net gain on the nutmeg and mace is four hundred and ten thousand pesos. That added to the profit of the cloves amounts to three million seven hundred thousand pesos.
His Majesty can make a profit of two millions annually on the silks of China in this way—that a ship of two hundred toneladas’ burden go each year with the ships from Filipinas to Nueva España, with these silks, which cost the following prices.
One thousand picos of spun and raw silk of Changuei,[3] each pico containing one hundred and thirty libras, and costing two hundred pesos, amount to two hundred thousand pesos.
Ten thousand pieces of Canton satin, at a cost of five pesos, amount to fifty thousand pesos.
Ten thousand pieces of damask, at four pesos, amount to forty thousand pesos.
Twenty thousand pieces of gorgoran, at a cost of one and one-half pesos, amount to thirty thousand pesos.
Thirty thousand varas of velvet in colors, at one-half peso, amount to fifteen thousand pesos.
These silks cost three hundred and thirty-five thousand pesos. They will, with the condescension of his Majesty, be taken to Perú (as is done, that other silks of China may not be taken from Nueva España), and are sold at Lima at the following prices.
Each libra of silk of the quality named in the first item, at fifteen pesos, the one thousand picos amounting to one million nine hundred and fifty thousand pesos.
Each piece of Canton satin at fifty pesos, the ten thousand pieces amounting to five hundred thousand pesos.
Each piece of damask at forty pesos, the ten thousand pieces amounting to four hundred thousand pesos.
Each piece of gorgoran at ten pesos, the twenty thousand pieces amounting to two hundred thousand pesos.
Each vara of velvet at four pesos, the thirty thousand varas amounting to one hundred and twenty thousand pesos.
Taking from this amount the three hundred and thirty-five thousand pesos that those goods cost in China, and eight hundred and thirty-five thousand pesos for the cost of factors and of navigation, and whatever else their handling may cost, there is a net gain of two million pesos.
In that way his Majesty can obtain every year from Filipinas five million seven hundred thousand pesos net, after deducting the entire cost.
[The following list is from an undated memorial of probably the early seventeenth century which treats of the merchandise that the Portuguese were wont to take from China to Japan. The memorial first defines the value of certain coins and weights and measures.]
First, the tae is equivalent to a ducado of ten reals of gold or silver; a maz is equal to one of our reals. One maz is equivalent to ten conderins; each conderin being valued at six maravedis, is divided into ten caxes, each cax [i.e., cash] being a round brass coin half the size of a half cuarto[4] pierced with four holes, and with certain characters around the edge. One hundred of them make one maz; and it is the only coin that is stamped with a die, for all the others circulate by weight.
Ranquel are ten pieces of plate or crockery-ware.
Pico is equivalent to one quintal, but has one arroba more than ours. Cate is a weight of twenty onzas.
The ship of the Portuguese carries from five to six hundred picos of white untwisted silk. It costs at Canton eighty taes per pico delivered in Macan, and is sold in Xapon for one hundred and forty or one hundred and fifty taes.
Laden with retros (the fine red silk), of four or five hundred picos of all colors, at a cost of one hundred and forty taes, it is sold in Xapon at three hundred and seventy and sometimes four hundred taes.
The common assorted retros costs from fifty-five to sixty taes in Canton, according to its quality, and is sold in Xapon for one hundred taes.
The silk of the darca, of all colors, is worth forty taes in Canton, and is sold by the libra in Xapon at nine maçes per cate.
The said ship will also carry from one thousand seven hundred to two thousand pieces of a certain silk worked with birds, and other pictures done in silk and unwoven silver.[5] Each piece is worth up to eleven maçes, and the fine ones up to fourteen. They have seven, eight, and nine gaxos, and they are sold in Xapon for about two and one-half or three taes apiece.
It will take three or four thousand taes of gold. The tae of common gold is worth about four or five maçes per tae, and it is sold in Xapon for seven taes and eight maçes.
Fine gold is worth in Canton six taes six maçes, and seven taes per tae of common gold. It is sold in Xapon for eight taes and three maçes.
Moreover, two picos of musk will be taken. It costs eight reals per cate in Canton, and is sold in Xapon at fifteen and sixteen, according to its quality.
It will carry about five hundred picos of white lead. It costs at Canton two taes and seven maces per pico; and, delivered at Macan, three. It is sold in Xapon for six and one-half and seven taes. The Japanese use a considerable quantity of it.... It is brought refined from there and is carried by way of Yndia to Portugal, where each ba[r?] is worth six [maçes?] seven conderins.
The ship will carry, moreover, two hundred or three hundred picos of cotton thread. It costs seven taes per pico delivered in Macan, and is sold in Xapon for sixteen, seventeen, and eighteen.
It will carry three thousand çangalas [i.e., pieces of buckram], which are pieces of cotton, most of them white, while the rest are black and in colors. They cost various prices, the large pieces costing twenty-eight taes per hundred. It is sold in Xapon at fifty and fifty-four taes per hundred. These çangalas are made of cotton. Those from Lanquin [i.e., Nankin], which are half cotton and half raw silk, are worth one tae three maçes per piece of ten varas. Other smaller ones cost twelve taes per hundred in Canton, and are sold in Xapon for twenty-three and twenty-four. The red ones cost eight and one-half taes, and are sold for sixteen and seventeen taes.
The ship will carry one hundred and fifty or two hundred picos of quicksilver. It costs forty taes at Canton, and fifty-three delivered at Macan. It is sold in Xapon for ninety and ninety-two, and at times for less than ninety.
It will also carry two thousand picos of lead, at a cost of three taes per pico delivered in Macan. It is sold in Xapon for six taes four maçes, and the money doubled.
It will also carry five or six hundred picos of tin. I do not remember its buying or its selling price.
It will carry besides five or six hundred picos of China-wood,[6] at a cost per pico of one tae or twelve maçes. It is sold for four or five taes in Xapon, and the money doubled.
It will carry about two thousand ranquels of crockery-ware at the very least. These goods are bought in Canton at many prices, and the money doubled two or three times in Xapon.
It will carry one hundred picos of rhubarb, which costs two and one-half taes, and is sold for five, thus doubling the money.
It will also carry one hundred and fifty picos of licorice. It costs delivered in Macan three taes per pico, and is sold in Xapon for nine or ten taes per pico, thus tripling the money.
It will also carry about sixty or seventy picos of white sugar. It costs fifteen maçes per pico, and is sold in Xapon for three and four and one-half taes. However, little of it is used, and the Japanese prefer the black. The latter kind costs from four to six maçes in Macan, and is sold for four, five, or six taes per pico in Xapon. It forms an excellent merchandise, and the ship will carry one hundred and fifty or two hundred picos of it.
The captain of the ship will ask, for carrying the silk, ten per cent; and in order that the freight on the remainder of the merchandise may not be raised, five hundred dead taes are given him, besides sixty picos sold at its value there per pico. That which is sold, and all the bulk of the silk that is unsold, and the five hundred taes are given him beforehand; while on the other merchandise mentioned above he is given ten per cent.
The said ship takes, on its return to Yndia, the aforesaid merchandise of loose white silk—one thousand picos at the abovesaid prices. They are sold in Yndia at about two hundred cruzados[7] per pico.
It will carry about ten or twelve thousand pieces of silk damasks and taffetas of all shades, bought at different prices. The common price of the fine pieces of damask is five taes, and the very fine, six and seven; and the pieces are four varas long. There are also some at four taes. These damasks are also sold at various prices. The greater part of them are sold among the natives. The same is to be said of the pieces of taffeta as to their purchase and sale.
It will carry three or four picos of gold, bought in the manner aforesaid. A profit of eighty or ninety per cent is also made on this among the natives.
It will carry five or six hundred picos of wrought and unwrought brass. The money invested in this is doubled. It is used among the natives.
It will carry six or seven picos of musk, which is used by the people of the country. The money will be gained once and a half over.
It will carry one hundred picos of quicksilver, which will gain seventy or eighty per cent.
It will carry five hundred picos of vermilion, which will gain as much as the quicksilver.
It will carry two or three [hundred?] picos of sugar, and the money will be gained once and a half over.
It will carry one or two thousand picos of China-wood, the money invested for which will be increased two or three times.
It will carry two thousand picos of brass bracelets, which cost five taes six maçes, and seven taes per pico delivered in Machan. The money is doubled. They are used in Bengala.
It will carry about two hundred picos of camphor, which goes to Portugal.
It carries a considerable quantity of earthenware of all sorts. The money is gained once and a half over.
It carries a great number of gilded beds, tables, and writing desks.
Much fine colored unwoven silk. It costs eighteen and nineteen maçes and two taes per cate. Some of the gilded beds are generally sold for three or four hundred cruzados. It carries many coverlets worked on frames; canopies, bed-curtains, and hangings; short cloaks of the same handiwork, made by the same Chinese; besides other trifles, and many gold chains exquisitely wrought.
The Portuguese pay duties at Malaca of seven and one-half per cent on the merchandise which they carry from China, without selling or unloading anything in that city.
They pay two or three thousand cruzados at Zeylao [i.e., Ceylon] for the support of the garrison stationed there. For that purpose two or three fustas go to the ship and take it, in spite of itself, to the port, whence it does not sail until it pays that sum. The reason given by the captain of that fort is, that the viceroy of Goa discounts that money from the duties. The same is done with the ships which come from Bengala, as well as from all other parts from which it is necessary to pass that island (which is the island for cinnamon) in order to get to Goa. They pay eight and one-half per cent at Goa, both for entrance and for clearance; and the same is true at Malaca, going and coming to [India?] But they do not pay in [Macan?] because they return thither.
When the ship sails from Goa to China, it carries silver in money and in wrought pieces (as I saw), of these two or three thousand; ivory, velvet from España and other places, and fine scarlet cloth [grana]; one hundred and fifty or two hundred pipes of wine; about six other pipes of oil; also olives, and capers. One is surprised at the cheapness of these things in Machan since they are brought from España to Goa, and thence to China, a distance of more than one thousand leguas. What most surprised me was to see that a cuarto of wine is worth one real, which is about its worth in Lisboa. A jar of oil at eight or ten reals, or at the most twelve, is worth at Machan when it comes from España five, six, or eight pesos per botija, counting eight reals to the peso. A cuartillo of wine at four reals, is sold at little or nothing. The Portuguese say that they do not care to make their principal good in China, but to invest in China, as their interest lies in the investment.
Ivory is sold to the Chinese at fifty taes per pico for the white and even ivory. It is understood that this must be in exchange for other merchandise, and not for money or silver; for silver that enters China does not go out again except in merchandise.
Velvet costs six or seven cruzados per codo in Goa. The codo is a palmo less than our vara. It is sold among the Portuguese at Machan for seven or eight taes, according to its quality.
Grana costs five or six cruzados per codo at Goa, and even seven and eight.
A pipe of wine is generally worth forty or fifty cruzados at Goa, and the fine and good wines ninety-five. However, the latter is not taken to China; and that of the first-named price is sold in Machan, where it is worth eighty or ninety cruzados per pipe.
One million of gold and upward enters China yearly through the Portuguese alone.
The Portuguese pay anchorage at Machan according to the beam and length of their ships, and whether they enter light or laden. The length is measured from the mizzenmast to the bow, and the beam from edge to edge. According as the ship is larger or smaller it pays. The [standard of] measure is one caña, and so much is paid for each measure. Consequently, a ship of three hundred toneladas will pay three or four thousand taes of silver. The Portuguese formerly paid the said anchorage in brasil-wood and in other merchandise which they carried; but for two or three years past they have had to pay it in silver. They do not like that as well as the other method. If, perchance, the ships have to lay up for the winter, even if they are the ships of the inhabitants of Machan themselves, they have to pay without any remission.
Memorandum of the retail selling prices of wares in Canton
The tae of fine gold is equivalent to seven of silver. One cate of musk is sold for eight taes. Raw silk at eight taes per pico. The contrary kind, or twisted silk [sirguin], which is the best of the country, one hundred taes per pico. Good pieces of damask, seven taes; a piece contains fourteen varas. Other pieces of common silk, ten varas for one tae three maçes. Vermilion, forty taes per pico. Copper, seven and eight taes [per pico]. Quicksilver, forty taes per pico. Herd-bells, eight maçes per pico. White lead, two and one-half and three taes per pico. Cotton, eight taes per pico. Fine powdered vermilion, seventy maçes per cate. One ranquel of fine porcelain, one tae two maçes; fine dishes, fifteen maçes per ranquel. Large fine dishes, five maçes apiece. Medium quality earthenware is worth one and one-half maçes per ranquel, both chinaware [porcelana] and dishes. Fine pieces of taffeta of all colors, from Lanquin, each piece containing about twelve codos, are worth two and one-half and three taes. Large pieces of certain damasks, which contain sixteen varas, are worth twelve taes at the least and fifteen at the most. Common earthenware is worth less than one real per ranquel, either dishes or jars. Wheat is worth four maces per pico, and eight in flour. Rice is worth three and one-half and four maçes per pico. One cow is worth four taes in Macan. One pico of flour, delivered in Macan, one tae two maçes. Pork is worth two taes in Macan and one and one-half taes in Canton, per pico. Fowls, two taes per pico. One pico of salt fish, two taes and more—or less, according to the fish. Two cates of fresh fish, one conderin. One pico of sugar, two taes, or, at the least, one and one-half taes. One pico of the finest iron, which resembles a manteca[8] is worth two taes, and in nails two and one-half, and three taes. One pico of Chinese camphor is worth ten taes. One pico of cinnamon, three taes. Rhubarb, at two, two and one-half, and three taes; and there is an infinite amount of it in China. Pieces of thin, fine silk, which contain about twenty varas, arc worth three and one-half and four taes. Red silk headdresses for women, four and five maçes apiece. One pico of licorice, two and one-half taes. One pico of China-wood, at eight maçes, and one tae.
The merchandise brought by the Portuguese in their ships from the districts where they trade and traffic is as follows.
First, they carry from Malaca to Goa a great quantity of cloves, nutmeg, and mace; also tin—which is the finest that is obtained from those parts, and which they also carry to China, for the tin of that country is not so fine. They carry tortoise-shell and many pearls.
From Zeylao, a great quantity of cinnamon, the finest of diamonds, and other precious gems.
From Bengala, abundance of very fine cotton; quantities of sugar and rock sulphur; and a quantity of rice—for which, if it were not for Bengala, Yndia would suffer.
From Moçambique, ivory and brasil-wood.
From Ormuz, which is in Persia, they bring excellent horses, and very fine carpets; many larins,[9] each one a trifle smaller than one of our reals; many clusters of dates; camlets,[10] and many agras; and benecianos,[11] each of which is worth about one of our escudos of eleven reals.
From the kingdom of Pegu, they carry a quantity of fine lac in loaves, and other things.
From Siam, excellent silver, and arquebus-balls; much and very fine benzoin; almond cakes; a quantity of oil of ginger, and of cocoa, and brasil-wood; lead; and a quantity of rice.
From Conchinchina, aguila-wood,[12] and another wood called calambac,[13] which is very valuable. It is black and contains oil, and is worth fifty cruzados among the Portuguese; while in its own kingdom, it passes weight for weight with silver. [The ship also carries] lead, pepper, and some yellow silk.
From the kingdom of Champa is brought the abovesaid wood, and it is even finer than that of Conchinchina. They carry another kind of black wood from which the Chinese make certain little sticks one cuarto [i.e., one-fourth vára?] long with which they eat. This kingdom has nothing else [to trade].
From Cambay, they bring the finest incense that those districts furnish. It is worth three taes per pico. They bring it from Far, which is Arabia the Blest [la Felice], and also from the island of Samatra, which the Portuguese call by another name Dachen.
From Timor, white sandal wood, which grows in no other part, while they bring the red from Santo Tome.
From Borney they bring camphor, which is the best which is usually found. It passes in its own kingdom weight for weight with silver. They also bring a great quantity of wood of the same tree for tables and writing desks, and it is very beautiful and sweet-smelling.
From the islands of Ternate, Tidore, and three or four others, the spice of the clove.
From the island of Banda, and from other islands, nutmeg and mace. From the same island they bring certain very beautiful birds which have no feet or claws. They have a very long tail with very beautiful feathers, and resemble young herons.
From Xapon a great quantity of silver; [abundance?] of tunny-fish; certain catans (which resemble cutlasses, and are very large), and daggers wrought very richly in gold; and other things.
From Sunda and many other places they bring various other articles. The Spaniards take from the Philipinas many pieces of cotton of very fine quality, and many pieces of various-colored damask; all kinds of taffeta, in greater or less quantity; much spun and loose silk of all colors; a great quantity of earthenware—which, together with the silk, is all brought to Manila by the Chinese themselves, who also bring a great amount of gold, wrought and unwrought, and of different carats. The following are the names of the gold in the Philipinas and their carats: first, gold of ariseis, of twenty-three carats three granos, and worth per tae in the said islands, nine eight-real pesos; gold of guinogulan, of twenty carats, worth seven pesos; gold of orejeras, of eighteen or nineteen carats, and worth five and one-half pesos per tae; gold of linguin, of fourteen or fourteen and one-half carats, and worth four or four and one-half pesos; gold of bislin, of nine or nine and one-half carats, and worth three pesos; gold of malubay, of six or six and one-half carats, and worth one and one-half and two pesos.[14]
[1] The ancient city of Ormuz was on the mainland, but was removed to the opposite island, Jerún, because of repeated Tartar attacks. Its fame almost rivaled that of Venice from the end of the thirteenth to the seventeenth century. It was owned by the Portuguese during 1507–1622, when it was taken by Shah Abbas, with the aid of the English East India Company. It was next to Goa the richest of Portuguese possessions. See Voyage of Pyrard de Laval (Hakluyt Society’s publications, London, 1888), ii, p. 238, notes 1 and 2.
[2] The editors of Voyage of Pyrard de Laval (ii, p. 357, note) say of the clove: “It is curious that this spice seems not to have been known to the Romans, nor to any Europeans till the discovery of the Moluccas by the Portuguese.” Duarte Barbosa, in East Africa and Malabar (Stanley’s trans., Hakluyt Society edition, London, 1866), pp. 219–220, quotes cloves from Maluco as worth per bahar in Calicut 500 and 600 fanoes; and, when clean of husks and sticks, 700 fanoes, 19 fanoes being paid as export duty. At Maluco they were worth from one to two ducats per bahar, and in Malacca as much as fourteen. Captain John Saris (see Satow’s edition of Voyage of Capt. John Saris, Hakluyt Society publications, p. 33) bought cloves for “60 rials of 8 per Bahar of 200 Cattyes.”
[3] See Satow’s Voyage of Capt. John Saris, ut supra, pp. 224, 225, 228, 229, for names and prices of various kinds of silks.
[4] Cuarto: a copper coin worth four maravedis.
[5] Saris (Voyage, pp. 216, 225) mentions the following Chinese goods: “Veluet Hangings imbroydered with gold, eighteene Rialls; vpon Sattins, fourteene Rials.” “Imbrodered Hangings, called Poey, the best ten Rials the piece.”
[6] Spanish, palo de China; also known as “China root;” the root of Smilax china. It is not now used, but formerly had great repute for the cure of venereal diseases as well as for gout. Linschoten has a long account of its virtues and mode of use, in Voyage (Hakluyt Society’s edition), ii, pp. 107–112; see also i, p. 239. Cf. Pyrard de Laval’s Voyage, i, p. 182.
[7] The cruzado was an old coin of Castilla and Portugal. The Castilian coin was of gold, silver, or copper, and of different values. The Portuguese coin, evidently the one of our text, was worth ten reals de vellon in Spain. See Dicc. nacional ... de la lengua Española (Madrid, 1878).
[8] So in the copy which we follow. Literally translated this is “butter,” which causes doubt as to the correctness of the copy.
[9] The larin was a silver coin that takes its name from the city of Lar in Persia. It has been current in a number of eastern countries and districts, among them Persia, the Maldives, Goa, and the Malabar coast, Ceylon, and Kandy. It has gone out of circulation, although the name is preserved in certain copper coins at the Maldives. The ancient coin was of various shapes, that of the Maldives being about as long as the finger and double, having Arabic characters stamped on it; that of Ceylon resembled a fishhook: those of Kandy are described as a piece of silver wire rolled up like a wax taper. When a person wishes to make a purchase, he cuts off as much of this silver as is equal in value to the price of the article. Its probably first mention by an European writer occurs in the Lembranças das Cousas de India (Subsidios iii, 53), in 1525, where the following table is given: 2 fules = 1 dinar; 12 dinars = 1 tanga; 3 tangas 10 dinars = 1 new larin; 3 tangas 9 dinars = 1 old larin. At Cambaye (p. 38) 1 tanga larin = 60 reis, and 45 larins weighed 1 Portuguese marco, or 50 grammes. Antonio Nunes (1554) in his Livro dos Pesos, says: “At the port of Bengala, 80 couries = 1 pone; 48 pones = 1 larin. The Portuguese marco of the time of João III, being equivalent to 2,500 reis, would make the larin worth 51,012 reis.” Davy says that the larin of Kandy was worth about 7d. in English currency. For detailed information about the larin, see Voyage of Pyrard de Laval, ut supra, i, p. 232 and note 2; and ii, p. 68.
[10] “Next, many watered camlets of Persia and Ormus, of all colours, made of the wool of large sheep that have not curled fleeces like ours. Of it they make also good store of cloaks and capes, called by the Indians Mansans, and by the Portuguese ‘Ormus cambalis;’ they are made of the same wool, in bands of different colours, each four inches wide. Everyone takes these to sea for a protection from the rain. The tissue is the same as of cloth.” It was called “camlet,” because made originally of camel’s hair. See ut supra, ii, p. 240.
[11] The Venetian sequin, worth about 50 sols, which was silver money and circulated at Goa. See ut supra, ii, p. 69.
[12] Crawfurd (Dict. Indian Islands) says that this is the eagle-wood of commerce. Its name in Malay and Javanese is kalambak or kalambah, but it is also known in these languages by that of gahru, or kayu-gahru, gahru-wood, a corruption of the Sanscrit Agharu. This sweet-scented wood has been used immemorially as an incense throughout eastern countries, and was early introduced into Europe by the Portuguese. The perfumed wood is evidently the result of a disease in the tree, produced by the thickening of the sap into a gum or resin. The tree is confused with the aloes, but properly speaking has no connection with that tree; and the word agila has been wrongly translated into “eagle” [see above “aguila”]. The tree probably belongs to the order of Leguminosæ. The best perfumed or diseased wood is found in the mountainous country to the east of the Gulf of Siam, including Camboja and Cochinchina. Castenheda says that at Campar, on the eastern side of Sumatra, are “forests which yield aloes-wood, called in India Calambuco (kalambak). The trees which produce it are large, and when they are old they are cut down and the aloes-wood taken from them, which is the heart of the tree, and the outer part is agila. Both these woods are of great price, but especially the Calambuco, which is rubbed in the hands, yielding an agreeable fragrance; the agila does so when burned.” See Crawfurd, ut supra, pp. 6, 7, and Yule’s Cathay, ii, p. 472, note 1.
[13] Calambac: the kalambac, or normal form of the wood called agila, is evidently meant here; see preceding note.
[14] See Vol. IV, pp. 99, 100.
All the old books of voyages of eastern countries contain much on the buying and selling prices of various commodities. See especially the notable Hakluyt Society publications.