be
thought most conducive to the interest of the Company, together with
such security as the nature of the trust may require. In the prosecution
of these consignments, I would propose to obtain a more exact
computation of the actual consumption; what quantity might probably find
a sale there, and the most probable means of success in such sales,
whether by waiting for a demand in the ordinary way, or by public sales
there; conducted upon the outlines of those made in England, by fixing a
future day of payment, and by a restriction in selling any future
quantity for a limited time, but particularly (under my mode) in what
manner, and within what time assurances can be given by remittances
being made on account of such sales.

I am, gentlemen, your humble servant,

WM. PALMER.

London, 19th May, 1773.

EXTRACTS FROM LETTERS, &C., TO PROVE THE STATE OF THE TEA TRADE IN
AMERICA.

_Extract from a Letter from Boston, dated 29th April, 1771, in Answer to
a Consignment made in February, 1771, at 3s. 1d., with the whole
drawback of L23 18s. 7-1/2d. pr cent.:_

"Were it not for the Holland tea, the vent of English would have
answered your expectation here, but the profit is immense upon the
Holland tea, which some say cost but 18d., and the 3d. duty here is
saved. Many hundred chests have been imported. What is shipped may go
off in time, without loss, for there must be buyers of English tea; the
transportation of the Dutch by water being attended with much trouble
and risk."

_Extract from a Letter from Boston, dated 11th July, 1771:_

"So much tea has been imported from Holland, that the importers from
England have been obliged to sell for little or no profit. The Dutch
traders, it is said, had their first teas at 18d. pr lb., the last at
2s.; either is much cheaper than from England, and they save the 3d.
duty here. The Company must keep theirs nearer the prices in Holland.
The consumption is prodigious."

_Extract from a Letter from Boston, 2d Sepr., 1771:_

"The consumption of Bohea tea thro' the Continent increases every year.
It is difficult for us to say how great it is at present. We imagine
there may be consumed in this Province, which is perhaps a seventh part
of the Continent, 3000 chests in a year. We are sure nothing can
discourage the running of it but the reducing the price as low, or
lower, than it was two or three year