'Considerations about selling the tin'

<537r>

Considerations about selling the Tinn.

In trade there are uncertain secrets & mysteries w^ch cannot be reduced to a recconing, & unlesse \competent/ allowances be made for these, the Dutch will undersell the Queens Agent at Amster{illeg}|da|m

The proper\secret/ method for setting the price \now/ upon the Tynn at Amsterdam is to know the price of the Tynn in the market of Amsterdam at any certain {illeg}|t|ime & the course of exchange at the same time & thence compute the price by the course of the Exchange at any other\this present/ time.

When my|the| late Lord Trearer \Godolphin/ se{illeg}|t| the price a{illeg}|t| 44$\frac{1}{2}$ G. the price in the market was from 45 to 47 G. & the {illeg}|A|s I find by M^r Dru{illeg}|mm|onds letter, & {illeg}|h|is Lord^p abated $\frac{1}{2}$ a Gilder to make room for the vay|r|ying of the Exchange. At that time the Exchange was at 34^sc. 6^d. Tis now at 35^sc 10^sc|d|. And as 34. 6 to 35 10 so is 45 G the lowest price in the market at that time to 46. 15 the lowest price in the market, i{illeg}|at| this time suitable to y^e course of Exchange \at this time/. /And the|i|se priz|c|es answer to 4^li 3^s 6 per C English w^t\

Late summer when y^e Exchange came down to 34^sc. 0^d or under the lowest price of the Tin \in the market/ was 44$\frac{1}{2}$^G. And at \that/ rate the lowest price ought now to be 4{illeg}^G. 15^st or 47^G And thi|e|s|e| price|s| an{illeg}|sw|er to 4^li 3^s. 6 or 4^li 4^s per C w^t english.

In the Account lately drawn up by me, the price came to 4^li 5^s 8^d {illeg}|p|er C English w^t. {illeg} But to bring it to the lowest price of the market some abatements me{illeg}|st| be made. \A Dutch/ Commission for buying Tyn at the Tower was there put at 9^d whereas the Dutch can have their business done for 6^d by the Pewterers for 6^d. Insurance at sea was put at 9^d whereas the Dutch in times of peace will not value it at 3^d Interest for two months forbearance of paym^ts was put at 9 stivers \per 100 w^t/ whereas the Dutch who can borrow money at 4 per cent will reccon it but at 6 st. per 100 w^t. And freight was put at 3$\frac{1}{3}$ st 100^wt whereas the Dutch can have Tyn brought home upon their own bottoms sometimes at half that price & {illeg}|s|ometimes {illeg} for ballast If upon all these acc^ts \about/ 1{illeg}|4|^d be abated the remaining price will be {illeg}|4|. 4. 6 per 100\C/ w^t. And further the further, there must be an abate{illeg}|m|^t out of the Duties \in Holland/ w^ch amounted to 1 Gild 5$\frac{5}{6}$ st. per 100 w^t. For a Dutchman usually contrives to have his Tin in {illeg} p{illeg}|u|t on board several ships for lessening the charge of freight, & to run as much of it {illeg}|a|s he can & what they cannot run they endeavour \by their acquaintance/ to get taxed low. And I know not what allowance \abatement/ to make for these practises. If 6^d pr only 6^d p^er C be abated the remaining price will be 4^li. 4^s. 0^d \per C/. If 1^s it will be 4^li. 3^s. 6^d.

That |By| All these recconings the lowest price of Tynn \per 100 w^t/ in the Dutch Marc{e}|k|ets should answer to 4^li 3^s 6^d or 4. 4. 0 {illeg}|p|er C w^t English \or thereabouts. {sic}/. For I know not how to be more exact in <537v> this \clippers/ recconing.

Out of this {illeg}|p|rice a deduction is to be made of one per cent Commission, one per cent prompt payment, one per cent insurance of paym^ts if her Ma^ty insures, $\frac{1}{3}$ per cent Brokerage, $\frac{1}{6}$ per cent carriage to the city weigh house {8} weighing for sale, $\frac{1}{2}$ per cent City Duty at y^e Weighous{e} $\frac{1}{5}$ per cent warehouse room: In all 4$\frac{1}{5}$ per cent, or 3^s 6^d p^r C w^t|.| {illeg} or 3^s 6^d per C. {sic} And the remaining price will be 4^li. 0^s. 0^d or 4^li. 0^s. 6^d c{illeg}|l|ear of all charges except the charges of \who shall be allowed for/ returning the money f{illeg}|o|r w^ch the Tynn is sold. |For M^r Beranger insisted upon 5^d \per C/ for turning specie mo{ney} into Bank mo{illeg}|n|ey.|

|1| In the discourses between M^r Beranger & me abo{illeg}|ut| \this matter/ |3| he proposed to pay with \\sell the Tynn himself by his Agents &/ make his payments to y^e Queen as soon as the money came in y^e {illeg}/ at the end of two months after the sales, the mon so much time being given to the chapm{en} to make their \prompt/ payments \to him/. No mention was made of usan{illeg} for the money was to be\come due to/ the Queens at the end of \the/ two months, & I had no notion of her Ma^ts paying interest for her own money. And {illeg} our {s^d} M^r Beranger proposed t{o} sell the tynn himself \at his Lord^ps price/ & pay the {illeg}|p|roduce {illeg} into y^e {illeg}\clear of all charges/ to {illeg} Lo^ps Order, or account for the same before an Auditor provided he could have good Vouchers|.|, & desired only to be allowed 5 p^r C for turning specie money into Bank money. \He proposed to make his paym^ts to {the} Queen within two months after the sales so much time being given to Chapmen to make their prompt payments to him. And no mention was made o{f} {illeg}ance/

Considering the great quantity of \the/ Tinn & that M^r Beranger does not live in Holland, as M^r Drummond did. an Agent, whenever it shall be thought fit, may be sent into Holland to oversee the sales & Accounts & Tynn remaining & keep a recconing thereof & perhaps have one of the keys to each Warehouse where the Tinn is laid up till it shall begin to be sold out of that warehouse.