2ndly. That this calculation is formed upon Bohea tea only, the species of tea already consumed there; yet it is probable by degrees other species might be introduced, the vend of which may be more profitable to the Company. 9600 chests of Bohea tea, each containing 340 lbs., makes 3,264,000 lbs., if sold at 2s. 6d. Boston currency, (which is 4d. lower than it appears to have been even at the time it was purchased in Holland, at 15 stivers, or under 18d. pr lb.,

amounts to£408,000
Deduct 25 pr cent. for exchange,102,000
————
Sterling,£306,000
Deduct 6 pr cent. for commission and charges,18,360
Annual net proceeds before the American
duty is deducted,		}————
£287,640

Application of those Net proceeds to the following purposes:

To the revenue for the duty on 3,264,000, @ 3d.£40,800
To the ship owners, for freight from England to America, if according to the present rate of 15 pr chest,7,200
To the ship owners for freight from China to England, according to Sir Richard Hotham's plan, of £21 pr ton, of 10 hundred weight, or for every 3 chests of tea,67,200
To the purchase at Canton, if at 15 tale pr pecul would amount thus: say 3,264,000 lb., divided by 133-1/3 for each pecul, makes peculs 24,480 @ 15 each, is tales 367,200, which, at 6s. 8d. pr tale, is sterling,122,400
Commission on the purchase in China,6,120
Charges of all sorts, rated at 10s. pr chest,4,600
———
248,320
To the Company for Net profit after all deductions whatsoever upon the most reduced estimate, upwards of 30 pr cent. on the purchase, or}39,320
———
£287,640

No. 2.

LETTER FROM Mr. GILBERT BARKLY.

Gentlemen:

I take the liberty to enclose for your consideration a memorial, regarding the establishment of a branch from the East India house in one of the principal cities in North America. Should the design meet with your approbation, as I am well acquainted with the teas most saleable in that country, shall be extremely happy in giving you every information in my power, I have the honor to be with due esteem, gentlemen,