From the place where they sat they had a good view of the whole interior of the dock. They could see the shipping, the warehouses, the forests of masts, the piles of merchandise, and the innumerable flags and signals which were flying at the mast heads of the vessels.
"It is a wonderful place," said Rollo; "but I don't understand how they do the business here. Whom do all these goods belong to? and how do they sell them? We have not seen any body here that looks as if he was buying any thing."
"No," said Mr. George. "The merchants don't come here to buy the goods. They buy them by
samples in the city. I will explain to you how they manage the business. The merchants who own ships send them to various parts of the world to buy what grows in the different countries and bring it here. We will take a particular case. Suppose it is coffee, for instance. The merchant never sees the coffee himself, perhaps. The captain or the supercargo reports to him how much there is, and he orders it to be stored in the warehouses here. Then he puts it into the hands of an agent to sell. His agent is called a broker. There are inspectors in the docks, whose business it is to examine the coffee and send specimens of it to the broker's office in the city. It is the same with all the other shiploads that come in. They are examined by inspectors, specimens are taken out and sent to the city, and the goods themselves are stored in the warehouses.
"Now, we will suppose a person wishes to buy some of these goods to make up a cargo. Perhaps it is a man who is going to send a ship to Africa after elephants' tusks, and he wants a great variety of goods to send there to pay the natives for them. He wants them in large quantities, too, enough to make a cargo. So he makes out a list of the articles that he wishes to send, and marks the quantities of each that he will require, and gives the list to the
agent. This agent is a man who is well acquainted with the docks and the brokers, and knows where they keep the specimens. He buys the articles and sends them all on board the ship that is going to Africa, which is perhaps all this time lying close at hand in the docks, ready to receive them. As fast as the goods are delivered on board the African ship, the captain of it gives the agent a receipt for them, and the latter, when he has got all the receipts, sends them to the merchant; and so the merchant knows that the goods are all on board, without ever having seen any of them."
"And then he pays the agent, I suppose, for his trouble," said Rollo.
"Of course," said Mr. George; "but this is better than for him to attempt to do the business himself; for the agent is so familiar with the docks, and with every thing pertaining to them, that he can do it a great deal better than the merchant could, in half the time."
"Yes," said Rollo, "I should think he could."
"Then it makes the business very easy and pleasant for the merchant, I suppose," said Mr. George. "All that he requires is a small office and a few clerks. He sits down at his desk and considers where he will send his ship, when he has one ready for sea, and what cargo he will