2. Such merchants, both here and in Europe, are distinguished from each other by the kind of goods in which they traffic, or by the foreign country in which they have their chief correspondence; thus, one who deals in tobacco is called a tobacco-merchant; a wholesale dealer in wines is called a wine-merchant; a West India, East India, or Turkey merchant, exports goods to, and imports goods from, those respective countries.
3. The business of merchants, in foreign countries, is usually transacted by agents, called factors, or commission merchants, to whom goods are consigned to be sold, and by whom other articles of merchandise are purchased and returned according to order. Sometimes an agent, called a supercargo, accompanies the vessel; or the captain may act in this capacity. Goods, however, are often obtained by order, without the intervention of an agency of any kind.
4. Almost every sort of foreign merchandise is subject to the imposition of duties by the government of the country in which it is received. These duties are paid at the Custom-House, to persons appointed by the constituted authorities to collect them. As soon as a vessel from abroad has entered the harbor, it is visited by a custom-house officer, called a Tide-Waiter, whose business it is to see that no part of the cargo is removed, until measures have been taken to secure the customs.
5. Goods brought into the country by importers, are frequently sold, in succession, to several merchants of different grades, before they come to the hands of the consumers. Cloths or stuffs of different kinds, for instance, may be first sold by the bale to one merchant, who, in turn, may dispose of them by the package to another, and this last may retail them in small quantities to a greater number of customers.
6. Dealers in a small way, in cities and large towns, are frequently denominated shop-keepers; but those who do an extensive retail business, are usually called merchants or grocers, according as they deal in dry goods or groceries. In cities, the extensive demand for goods enables retailers to confine their attention to particular classes of articles; such as groceries, hardware, crockery, a few kinds of dry goods, or some articles of domestic manufacture; but in other places, where trade is more limited, the merchant is obliged to keep a more general assortment.
7. The general retail merchant is compelled to transact business with a great number of wholesale dealers, to whom he pays cash in hand, or agrees to pay it at some future period, say, in four, six, nine, or twelve months. The people in his vicinity, in turn, purchase his goods on similar conditions, with this difference, that they often substitute for cash agricultural and other productions, which the merchant, at length, turns into ready money.
8. Barter, or the exchange of commodities, prevails to a great extent, in country places, in almost every part of the United States. In such exchanges, the currency of the country is made the standard of reference: for example; a merchant receiving from a customer twenty bushels of wheat, estimated at one dollar per bushel, gives in return twenty dollars' worth of goods, at his marked prices; or, in other words, he gives credit for the wheat, and charges the goods. On the same principle, merchants of the first class often exchange the productions of their own country for those of another.
9. Merchants, or store-keepers, as they are indifferently called in some places, whose location is distant from the seaboard, visit the city in which they deal once or twice a year, for the purpose of laying in their stock of goods; but, in order to keep up their assortment, they sometimes order small lots in the interim. Retailers more conveniently situated, purchase a smaller amount of goods at a time, and replenish their stores more frequently.
10. Commerce, on the principles of barter, or a simple exchange of one commodity for another, must have been practised in the early days of Adam himself; although we have no positive record of the fact; for it cannot be imagined that the arts, which are stated in the Scripture to have flourished long before the flood, could have existed without commercial transactions. The period at which the precious metals began to be employed as a standard of value, or as a medium of commercial intercourse, is not known. They were used for this purpose in the time of Abraham, and probably many centuries before his day.
11. The earliest hint respecting the existence of trade between different nations, is to be found in the book of Genesis, where the transaction regarding the sale of Joseph to the Ishmaelites, or Midianites, is mentioned. These merchants, it appears, were travelling in a caravan to Egypt, then the most cultivated and refined part of the world. Their camels were loaded with balm, myrrh, and spices. The first of these articles was the production of Gilead; the second, of Arabia; and the last was probably from India; as in that country the finer spices are produced. If this were really the case, commerce, in its widest sense, was carried on much earlier than is generally supposed.