Considerations about selling the Tinn.

In trade there are uncertain secrets & mysteries wch 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| 4412 G. the price in the market was from 45 to 47 G. & the {illeg}|A|s I find by Mr Dru{illeg}|mm|onds letter, & {illeg}|h|is Lordp abated 12 a Gilder to make room for the vay|r|ying of the Exchange. At that time the Exchange was at 34sc. 6d. Tis now at 35sc 10sc|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 ye course of Exchange \at this time/. /And the|i|se priz|c|es answer to 4li 3s 6 per ton symbol in text English wt\

Late summer when ye Exchange came down to 34sc. 0d or under the lowest price of the Tin \in the market/ was 4412G. And at \that/ rate the lowest price ought now to be 4{illeg}G. 15st or 47G And thi|e|s|e| price|s| an{illeg}|sw|er to 4li 3s. 6 or 4li 4s per ton symbol in text wt english.

In the Account lately drawn up by me, the price came to 4li 5s 8d {illeg}|p|er ton symbol in text English wt. {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 9d whereas the Dutch can have their business done for 6d by the Pewterers for 6d. Insurance at sea was put at 9d whereas the Dutch in times of peace will not value it at 3d Interest for two months forbearance of paymts was put at 9 stivers \per 100 wt/ whereas the Dutch who can borrow money at 4 per cent will reccon it but at 6 st. per 100 wt. And freight was put at 313 st 100wt 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 accts \about/ 1{illeg}|4|d be abated the remaining price will be {illeg}|4|. 4. 6 per 100\ton symbol in text/ wt. And further the further, there must be an abate{illeg}|m|t out of the Duties \in Holland/ wch amounted to 1 Gild 556 st. per 100 wt. 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 6d pr only 6d per ton symbol in text be abated the remaining price will be 4li. 4s. 0d \per ton symbol in text/. If 1s it will be 4li. 3s. 6d.

That |By| All these recconings the lowest price of Tynn \per 100 wt/ in the Dutch Marc{e}|k|ets should answer to 4li 3s 6d or 4. 4. 0 {illeg}|p|er ton symbol in text wt 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 paymts if her Maty insures, 13 per cent Brokerage, 16 per cent carriage to the city weigh house {8} weighing for sale, 12 per cent City Duty at ye Weighous{e} 15 per cent warehouse room: In all 415 per cent, or 3s 6d pr ton symbol in text wt|.| {illeg} or 3s 6d per ton symbol in text{sic} And the remaining price will be 4li. 0s. 0d or 4li. 0s. 6d c{illeg}|l|ear of all charges except the charges of \who shall be allowed for/ returning the money f{illeg}|o|r wch the Tynn is sold. |For Mr Beranger insisted upon 5d \per ton symbol in text/ for turning specie mo{ney} into Bank mo{illeg}|n|ey.|

|1| In the discourses between Mr Beranger & me abo{illeg}|ut| \this matter/ |3| he proposed to pay with \\sell the Tynn himself by his Agents &/ make his payments to ye Queen as soon as the money came in ye {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 Mats paying interest for her own money. And {illeg} our {sd} Mr Beranger proposed t{o} sell the tynn himself \at his Lordps price/ & pay the {illeg}|p|roduce {illeg} into ye {illeg}\clear of all charges/ to {illeg} Lops Order, or account for the same before an Auditor provided he could have good Vouchers|.|, & desired only to be allowed 5 pr ton symbol in text for turning specie money into Bank money. \He proposed to make his paymts 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 Mr Beranger does not live in Holland, as Mr 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.

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Professor Rob Iliffe
Director, AHRC Newton Papers Project

Scott Mandelbrote,
Fellow & Perne librarian, Peterhouse, Cambridge

Faculty of History, George Street, Oxford, OX1 2RL - newtonproject@history.ox.ac.uk

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