les, for
should the contractor for money have that power, who are the general
drawers of bills, it would enable them to make a monopoly of the ready
specie, and to make exchange advance 25 pr ct., to the loss of the
remitter.

Thus have I stated the principal objections to the measure, and in
compliance with my promise, I shall give you my opinion relative to its
introduction, & the proper modes of sale, admitting the Company
persevere in their resolutions of exporting the teas on their own
account.

A ship should be hired by the Company, capable of carrying the quantity
they intend to export, and at so much pr month. She should call in the
first place at Boston, and there land 300 chests, under the care of one
of the Company's own clerks; from thence to New York, and there land 300
chests, in the like manner as at Boston; from thence to Philadelphia,
and there land 300 chests, as before, and from thence to Carolina, and
there land 100 chests, under the care of the clerk of the Company, all
of which may be performed in the course of three months from her sailing
from hence, until her arrival at her last destined port, provided the
people in the different Provinces don't disturb the voyage upon the
arrival of the teas. Public notice should be given in the papers of each
Province at least one month preceding the sale, and the following
valuation prices affixed for the buyers to bid upon, subject to the
allowances, as limited in your own sales: Boston, @ 2s., lawful money,
pr lb.; New York, 2s. 9d., currency; Philadelphia, 2s. 3d., currency;
Charles Town, South Carolina, 10s. pr lb., currency. These prices are
for Boheas. The several clerks of the Company can with ease correspond
with each other, as there is a constant and regular communication by
post, so that if there should be an over quantity at one place, and a
deficiency at another, it may be supplied. The clerks should have
directions to pay the proceeds of the sales to some eminent merchant at
each Province, who should be a person well acquainted with the article,
and one who has great weight with the other merchants and people, both
as to esteem, rank and property; this merchant to remit the money by
good bills of exchange, which he must guarantee, and a security given
here for such a trust.

Great care should be had to regulate the sale by the consumption of each
Province, and not to be held at the same time, but to follow each other
by the distance of a fort