TEA LEAVES: - Yesterday Image

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90 11
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£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.
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[198] was purchased in Holland,
at 15 stivers, or under 18d. pr lb.,
amounts to £408,000
Deduct 25 pr cent. for exchange, 102,000
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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,
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,
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,
7,200
67,200
122,400