"I have to acknowledge the receipt of your favor of the 5th instant, desiring information of the present state and prices of tea at this market, and also what the freight and charges are thereon to North America, to all which I cheerfully give you every elucidation in my power, and with the greatest pleasure, as neither you nor your friends have any thought of engaging in said trade, which, with every other branch of smuggling, must be held in abhorrence by all good men. The present prices of tea are—
| d. | d. | ||||
| Dutch | Bohea's, | in whole | chests, | 20 @ | 22 |
| " | " | half | " | 22 | 24 |
| " | " | quarter | " | 24 | 25 |
| Swedish, | whole | " | 21 | 22 | |
| Danish, | " | " | 21 | 22½ | |
| Congo, | 28 | 45 | |||
| Souchon, | 36 | 65 | |||
| Peco, | 32 | 55 | |||
| Imperial, | 49 | 50 | |||
| Green, | 48 | 50 | |||
| Tonkay, | 52 | 53 | |||
| Heysan Skin, | 60 | 62 | |||
| Heysan, | 90 | 95 | |||
The tare on whole chests is 84 lbs., if they weigh less than 400 lbs., and if they weigh 400 lbs. or upwards, then 90 lbs.; for the half chests, under 200 lbs., tare 54 lbs.; if 200 lbs., or upwards, then 60 lbs.; for the quarter chests, under 100 lbs., tare, 23 lbs.; if 100 lbs., or upwards, then 30 lbs. The advantages on the tares are calculated at 7 or 8 pr cent. on the whole chests, at 12 @ 13 pr cent. on the half chests, and at 15 @ 16 per cent. on the quarter chests. The quantity of teas on hand is not considerable, so that we do not apprehend a decline; on the contrary, if any orders of the least importance were to appear, the prices would go higher. There are now about 400 chests shipping for America, from Amsterdam, from which port the teas that go to North America from this country are always shipped, and not from this city; they are sent to Rhode Island, and not to Boston. Of Green teas there are hardly any left, neither fine Souchong nor Congos, but ordinary, in abundance. The freight of a whole chest of Bohea to St. Eustatius, one of the Dutch West India Islands, comes to about 7-1/4s. pr chest. It is reckoned by the foot square, at 6s. the foot to North America. It is generally £4 pr chest, New York currency, but the captain is not answerable in any case of seizure.
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 at 84 lb. each, 336 | } | 400 | |||
| 360 | 2270 | |||||
| 370 | ||||||
| 390 | do. of 2 chests above 400 @ 90 lb. each 180 | 516 | ||||
| 410 | 1754 @ 24s. | £2104 | 16 | |||
| 420 | off 1 pr cent., | 21 | 2 | |||
| ———— | ||||||
| £2083 | 14 | |||||
| CHARGES. | ||||
| Custom and Passport, | £20 | 4s | ||
| Sleding, | 1 | 7 | ||
| ½ weigh money, | 13 | 0 | ||
| Brokerage, | 10 | 8 | ||
| Shipping, | 3 | 0 | ||
| Commission, 2 per cent. on £2131 13s. | 42 | 12 | ||
| ———— | ||||
| 90 | 11 | |||
| ———— | ||||
| £2174 | 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.