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)

by Francis S. Drake

Your h'ble serv't,

Wm. Palmer.

Devonshire Square, 22 July, 1773.

To the Hon'ble the Court of Directors, &c.

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Sirs:

It is so perfectly contrary to all mercantile usage, to fix a certain rate of exchange for commission business, that we must beg leave to decline making any further proposals for your intended consignments to New York and Carolina, because the revolutions in all exchanges cannot be foreseen. We have known the New York exchange at 168 & 190, at present it is 177½, the par between Philadelphia and New York is, as 160 at the former, to 170-2/3 at the latter.

If you should hereafter adopt the regular and usual mercantile form—of receiving your remittances at the current exchange of the place at the time of remitting, we shall be obliged to you for your consignments to Messrs. Hugh and Alexander Wallace, of New York, and Samuel Chollett, of Charlestown, South Carolina, for whom we will become security for the usual commission of guarantee of 2½ pr cent.

We are, sirs,

Your most obd^t h'ble serv^ts