PRICE OF TEA — THE CHINA TRADE.

SINCE our last notice of this question, some valuable evidence has been given before the Committee appointed to inquire into the expe- diency of opening the tea trade. It puts to rest the inconsiderate assertions of the monopolists and their advocates, on points where a good deal of credit has been given to them. With respect to the ayersion of the Chinese to foreign traffic, and the difficulty experienced by individuals in doing business with them, the public may dismiss every fear. Not only has the American trade gone on smoothly, and progressively increasing* from its commenced * In the accounts furnished by the Company themselves, the average importaand ex- ports of the Americans into and from Canton are given for four periods—namely, 1805 raent, but even the raw lads of the Company's ships-the privileged traders, as they are called-buy and sell in the Canton market with more facility and security than they could in London. Purchased under every possible disadvantage, in small packages, especially liable to injury from the voyage and from Iteeping, the green teas (the more delicate kind) sold at the private sales, fetch within 5 per cent. and the blacks fetch within less than 1 per cent. of those imported by the i Company. The port of Canton s not only an excellent one, but, in reference to Europeans, the best in China. The direct commu- nications from that port embrace at least a third of the population of the empire; and intermediately the woollens of England find their way without difficulty to the northern and eastern frontiers.t The Go- vernment and people are so far from contemning European commerce, that in point of fact, one article-green tea, which the Chinese them- selves do not use-has been expressly created to meet it. John Bu I may also dismiss all alarm about Hong merchants, and that nondescript mon- ster denominated Co-hong.* The Hong merchants are neither a com- pany nor a corporation, but a number of private individuals, each acting for his own interest, without the wish and without the power to control the actions of each other. The " Co-hong," which, according to Mr. MAaJoatnANKs, the Company at an immense expense of demurrage strangled in its birth, was no more than an endeavour of these men- some of whom are most respectable and intelligent persons-to have the market price of tea, like that of everything else, regulated by the demand and supply. The notables of the Company insist on always having tea at the same price 1-by which rule, indeed, it never rises in bad, but, per contra, it never falls in good seasons. It is the interest of the Hong merchants to extend their security to as many vessels as possible ; it has never been refused to individual traders any more than to the Company ; and if there be any difference, they prefer individual traders.II And to put an end to all difficulties on this subject --the Hong system, in respect of certain articles of traffic, has been put an end to by the Chinese Government, and the direct trade be- tween f. reign and native merchant legalized; and such is the anxiety of the latter class for direct trade, that, were the monopoly at an end, there is every reason to believe that the Hong system would be entirely abolished.

But our present purpose is with a species of argument which neither sceptic can deny nor sophist elude-the arithmetical. We appeal to our Tables f The first is compiled from the Parliamentary Return No. 41, printed by order of the House of Commons last month. If any argument were required to prove that tea is in the strictest sense a necessary of life, it would be found in the proportion which the comparatively low-priced black teas bear to the rest. Congou, it will be seen, forms more than two thirds of the whole importation, while Hyson does not average above one-twentieth part. In America, on the contrary, where tea is as yet consumed by the wealthier classes only, the green varieties are the principal import ; and Congou, partly from want of demand, partly from the heavy duty (153 per cent. ad val.) has for the last four years ceased to be imported at all.

Table showing the number of pounds of Tea of every description sold at the Public Sales

• of the East India Company during each of the ten years last past.

Bohea. Congo,. Campoi. Snuchong. Twankay. Hyson Skin. lbson.

Pekoe-

/820-1,407,592 17,664,433 479,081 1,168,605 4,288,343 101,919 700,312 27,002 1821-2,522,297 15,939,795 319,775 1,285,496 4.900,764 34.3.995 782,413 133,964

1800-5..2113.482

17,249,982 /21493 1,397,931 4,401,778 225,636 1,044,056 92,957 1013-1,1373,881 113822,848 823,063 1,191,668 4,165,896 205,658 816,872 44,757 1804-1,851,394 19,006,544 242,562 1,322,326 3,967,206 259,209 030,753 40,005 1825-2,093,276 20,590,958

mass

471,476 3,754,120 314,987 985,566 86,051 1800-2,718,011 21,031,635 207,971 547,128 3,7613,406 229,961 932,099 1413,038 1827-2,588,124 20,472,625 166,701 475,796 4,424,262 298,960 801.724 165,842 829-43,759,199 19,889,392 297,346 448,163 4,537,672 242,318.. 1,013,771 280,103 • a909-3,778,012 20,142,873

284,187 601,759 4,101,845

218,993 1,014,923 131,281

Exclusive of the purpose to which we shall immediately have to put the above table, it is not unworthy of notice, as a proof of the way in which the people of England are served by the Company even at their own exorbitant and arbitrary prices. In 1821, the population of the United Kingdom was 21,193,458, and the tea consumed 23,559,495 lbs.; which was at the rate of 1lb. 1 oz. 12 drams for each person per annum. In 1828, the computed population was 23,500,000, and the tea consumed 27,970,8901bs. ; which would give 11b. 3oz., an increase of one ounce four drams per annum ! If we go farther back, the case against the Company is still more striking. In 1787, the consumption for each person was 1lb. 3oz. 14 drams,- nearly an ounce more than at present. If it be asked how the people get tea at all, we answer, by the adulterations of the dealers-which in this case are almost allowable ; for, so determined are the Company to keep up prices to the scarcity level, that they are in the regular habit of withdraw:ng, and in effect destroying their goods when they threaten to fall below it. In the year 1828-only two years ago- they withdrew 1,317,9201bs. of tea, rather than abate a penny from the upset price !** They might just as well have thrown it into the Thames at once-did not the Dutch of old burn their spices to en- hance the value of the remainder.

In the table that follows, we have given, from the Parliamentary . Returns, the average prices of the Company's teas from 1820 to 1829 inclusive. We have also framed a table of the New York prices during the same period, which, though not a Parliamentary docu- ment, we can pledge ourselves will be found in every respect as ac-

to 1807, 1809-10 to 1811-12,1815.18 to 1818.19, and 1819-20 to 1826-71 and they are se- verally as follows-1,811,258/. 1,678,0981. 2,761,0281. 3,145.7491. The Company's ave- rage imports and exports during the same period were-3,401,2091. 2,446,9701. 2.738,8274 2,718,0161.; being an increase on the free trade side of 70 per cent. and a decrease on the monopoly side of 20 per cent. 1 t A curious instance of the monopoly's mode of doing business is afforded in the article of dyed woollens. The Company dye theirs in London, the Americans in Xork- shire-the difference is about 20 per cent, in favour of the latter; and by necessary con- sequence, they wholly outsell their clumsy rivals, although they ship from the same port! * The association of the Hong merchants is so called.

I Canton Register, Aug. 1828.

Edict of the Viceroy of Canton, 14th July 1828. Among the legalized imports are cotton goods and yarn, and among the exports are manufactured silks dell kinds.

• arliamentary Returns, No. 38, 1820.

curate. The prices of Bohea, Souchong, Hyson-Skin, and Hy- son, are taken from the New York Prices Current. Those of 1822 and 1823 are the August sale prices ; 1826 is the June sale price ; the others are the 'prices of the July sales. No prices of Congou are given in the New York lists since 1825, none having been imported since that time, on account, as we have already noticed, of the smallness of the demand for coarse teas and the amount of the duty. For 1826, 1827, 1828, 1829, we have employed the average price of the previous six years-8.44d. Campoi, Twankay, and Pekoe, are not enumerated in the New York lists ; and in es- timating the prices of these we were obliged to have recourse to cal- culation. With the average prices of Hyson and of Campoi in London, and the average price of Hyson at New York during the last ten years, we have an analogy, by which the average price of Campoi at New York may be approximately determined'. The analogy is not altogether exact, for the difference between the monopoly and free trade prices is much less in green than in black teas; but the advan- tage is on the side of the Company, and we willingly yield it to them4, In a similar way we have calculated the average free trade prices of Twankay and Pekoe.

Table showing the Average Prices (exclusive of duties) of the various kinds of Teas sold at the Public Sales of the East India Company, the Prices of the some in the New York market, with the difference in each case, from 1819-20 to 1828-29 inclusive.

Bohea

a. d.

1810/ London price . 1 9.25

Ameian c price . 11.64

Difference . . 9.01 18211 London price . 2 1.68 American price . 10.60 Difference . . 1 3.28 10221 London price . 2 5.28

American price . 11.12 Difference .. 1 6.16

18231 London price . 2 5.43 American price. 7.50 Difference .. 1 9.93 1824/ London price . 2 4.92

American price . 10.60

Difference .. 1 6.32 18251 London price • 9 4.59

American price . 9.31

Difference . . 1 7.28

1826{Lonclon price . 2 0.50

American price . 13.28 Difference . . 1 3.28

1827{London price . 1 7.02 Anierican price . 8.79

DiffCrence .. 10.23

18281 London price . 1 7.44 American price . 8.28

Difference . 11.16

(London price . 1 6.65 1829 American price . 9.13

Difference . . 8.82 Congou .

7.94 7.76

2 0.18 2 7.31 7.76 111.55

2 0.59 7.76 8 0.83

2 7.02

7.76 (.06 8.06 8.79 1 11.27

8 7.90 10.88

1 9.04

2 0.75 8.46 1 10.31 4.73 8.44 1 11.29 2 3.95 11.14 1 7.51

2 3.111 8.44 / 7.44

Souchong 1170. Skin

d. a. d.

3 2.01 3 4.38 1 1.97 1 8.74 2 0.04 2 1.64 3 2.96 3 sot

1 1.45 1 2.74 2 1.51 1 10.10 3 1.25 3 1.139

' 1 am 1 2.49

1 10.25 1 11.40 2 10.02 3 2.99 1 4.56 1 7.14 1 6.06 1 8.85

2 11.82 3 4.72 1 7.40 2 2.01 1 4.42 1 1.111 3 4.74 3 3.29

1 7.40 2 1.01 1 9.34 1 1,138 3 1.28 3 4.57 1 6.11 1 7.14

1 7.17 1 1.43 a 2.17 3 2.26

1 11.02 1 7.14 1 3.15 1 7.12

3 0.53 2 7.19 1 6.93 1 5.59 1 5.90 1 1.60 2 10.38 2 3.114 1 7.40 1 4.30

1 2.98 11.28 Hyson 5 3.96 2 0.01 2 9.65 5 6.04

2 5.4)

3 0.55 4 8.53 2 0.27 2 2.20 4 3.24 2 0.09 1 9.24 4 3.23 2 10.15

1 5.08

4 2.71

2 8.08 1 6.63 4 5.18 2 7.05 1 10.33 4 8.72

3 0.22

1 8.59

45.18

2 11.34

1 9.74 4 1.75 2 7.03 1 170

rarnpoi

3 4.64

1 11.111

1 5.54 3 6.04

1 11.10

1 6.94

3 7.90 1 11.10 1 7.90

3 6.30 1 1120 1 7.20 3 6.36 1 11.10

1 7.26

3 0.88 1 11.10 1 1.78 3 1.77

1 11.10

1 287 2 9.04 1 11.10 9.04

29.31

1 /1 10 10.21 2 9.14 1 11.10 10.04

Twankay Palms

a.

2 10.313 4 5 9.18 2 1 1.65 1 3 0.33 4

1 9.18 2 1 3.15 1 3 0.48 3 1 9.113 2 1 3.30 1 3 4.77 4 1 9.18

1 7.59 1

3 5.71 5

9.18 2 8.03 2 3 5.17 4

9.111 2 7.99 1

4.08 4 1 9.13 2 1 7.70 1 1.94 3 9.111 2

4.76

8 '1.04 3 1 9.18 2

9.80

2 5.72 3

1 9.18 2 19.54

d.

0.41

9.58 4.83 2.53 9.58 4.95 10.69 9.58 1.11 4.73 9.58 7.15 0.74 9.53 3.14 3.26 9.58 5.68 0144 9.58 1.26 0.01 9.58 8.43

0.61

9.58 9.03 9.23 9.58 11,65

By multiplying together the quantities sold in each year (given in the first table), and the differences of price (given in the second), we shall see . at one glance the sums which the people of England have paid, during the last ten years, in order to be excluded from a privilege that, in respect of every kingdom under heaven save China, they enjoy as freely as they do the air they breathe. The result is a little startling. Difference between the Cost of Teas according to the Company's Prices, and according to those of New York, in the several years from 1619.20 to 1828-9 inclusive. 1819-90 .e2,357,055 0 9

1320-21 9,30 350 0 1

1821-29 • 9,617,670 3 10 1829-23 9,099,557 1 4

1623-24 9,523,935 3 2 1824-25 2,143,226 19 11 182.5-26 2.0l9,93l 9 II 1926-27 9,4,719 13 5 1827-28 2,097,076 9 1

1828-29 9,061,410 0 5

Total £23,972,949 111, levied on the English more than on American tea-buyers in ten years.

We ask any dispassionate man to look at this result, and then to say what he thinks of a system which, independent of the indirect in- jury it inflicts on the manufactures, the commerce, the shipping, in a word, on every interest in the country, picks the pocket of the people so openly and to such an amount ? When an attempt is made to bamboozle such a one by Hongs and Co-hongs, and all the other mystification of the case, let him ask this one question-Why should Englishmen pay for musty tea two millions and a half per annum more than the people of New York do for fresh 7 We have heard that the Duke of WELLINGTON is disposed, if a case be made out, to resist the renewal of the monopoly. We ask the Duke to inspect the above table, and then to say if we have not made out a case. But if the Ministers be wilfully blind, let not the people of England be either blind or dumb. If they insist on their rights, Ministers dare not;refuse them.

if In doing this we yield a good deal. The price of Campoi at Hamburg ranges from 11d. to 13d., and of Twankay from 17d. to 19d. In the Company's sales, we find " Young Hyson," and " Gunpowder ;" but of these only Aye trifling public sales have taken place during the last fifteen years. They are chiefly found at the private sales.