The Sun.
London, England, 1834-11-12 00:00:00

THE SUN, LONDON, WEDNESDAY, NOVEMBER 12, 1834

FROM LAST NIGHT'S GAZETTE.

THE TEA TRADE.

OFFICE OF ORDNANCE, Nov. 7, 1834.
Corps of Royal Engineers.
Second Captain J. C. Victor to be Captain, vice Smith, deceas.
ed. First Lieut. C. Mackenzie to be Second Captain, vice Victor.
Second Lieut. H. E. Allen to be First Lieut3nant, vice Maeken.
zie. Oct. 26, 1834.

Yesterday there was a very full attendance of the mer-
chants and others connected with the tea trade in the large
rooms in 'Change-alley, the first public sale of teas imported
direct from Canton under the free trade system for home
consumption having been announced to take place. The
teas were imported in the Charlotte, Captain Smith, from
Canton, and formed part of the first consignment to this
country on private account since the abolition of the mono-
poly of the East India Company. The sale was under the
management of Messrs. Thomson and Co.
Mr. THOMSON, on ascending the rostrum, said there
were some points to which he wished to draw the attention
of the trade before this the first sale of teas direct from
China, and imported under the new system, was com-
menced. He considered that it was highly important that
the trade should commence these sales upon the best terms,
and he, therefore, in the first instance wished to state that
as allowing discounts for money paid before the prompt day
had been found inconvenient, the present teas were intended
to be offered to the trade without any allowance as dis-
counts. A matter of much greater importance, he consi-
dered, was the quality of the teas imported under the new
system. The teas now to be offered were a consignment
by merchants at Canton, and therefore he had it not in his
power to make any further allowances than those usually
granted by the East India Company, as the teas were ex-
ported without the knowledge that any such allowances as
those now required would be demanded.
Mr. COUSENS said he wished to know in what respect
the plan of allowing discounts had been found incorrect.
Mr. THOMSON stated that he had been informed by
parties largely engaged in the tea trade that the plan was
inconvenient.

Mr. SANDERSON said it was important that every exer-
tion should be used to protect the trade of the port of Lon-
don. At Liverpool it was intended to allow discounts ;
and, unless the same concessions were made here, the trade
of London would be materially lessened.
Mr. TRAVERS said it would be the interest of the sellers
as well as of the buyers to allow interest. le, however,
thought that it was of more importance to consult the ge-
neral interests of the trade.

Mr. NicHoLsoN did not see that any very serious incon-
venience would arise in allowing the discounts. He thought
that the trade ought to follow as far as possible the plan of
the East India Company.—(Cries of " No, no.") The
Company were allowed interest. The country trade would,
of course, participate in the advantages that would arise by
the allowance of discounts. The trade could not, however,
refuse the right of the merchant to put up his goods on
whatever terms he might think proper.
Mr. Fa Y said the question was one of very considerable
importance to the port of London. It was intended to
make the allowance at Liverpool ; and, as the midland
counties were -already somewhat indifferent whether they
would take their supplies from London or Liverpool, no im-
pediments ought to be placed in the port of London to the
trade.---( Hear.) He could state that the largest importers
of tea from Canton had determined to allow discounts.

Mr. TRAVERS considered it would be politic on the part
of the parties interested in the teas to make the allowance.
The port of London ought to set an example which he had
no doubt would be followed in other places.
Mr. SANDERSON said he could state that the consignees
of the other teas by the Charlotte would allow discount at
the rate of four per cent.
Mr. THomsoN said his principals, who were in the room,
bad desired him to state that they were ready to make the
concession, but in doing so they were desirous not to be
considered as establishing a precedent.--( Hear.) They
were anxious to leave the trade to settle the question. As
to the intentions of parties at Liverpool or any of the other
out ports, he felt convinced that if an example was set by
the port of London, it would be followed.
The sale then proceeded with animation until a few lots
were offered as " Souchongs," and a question was asked of
the selling broker what duty they would pay ?
Mr. THOMSON replied that the 3s. duty would be im-
pused. He also felt it his duty to state that he had ob-
tained information that it was intended in future that all
teas partaking of the Souchong flavour should be subjected
to the high duty of 3s. per lb.
This statement created a considerable sensation in the
Sale Room. After some pause,
Mr. Twzraso inquired who was to decide what teas
partook of the Souchong flavour ?
Mr. THoMsoN said the Government officers.

Mr. TWINING appealed to the room whether this could
be submitted to. What was to becoma of the great bulk of
fine teas imported by the East India Comp:lny,?.The plan
would hold out an inducement to the importaiizqi of low
teas. The measure was fraught with the most serious c'oll-
- to the trade, as well as to the revenue.—(Hear.)
Mr. TRAVERS fully concurred in what had fallen from
Mr. Fry and Mr. Twining, and much regretted that the
trade had been-plueed in such a painful situation:
The sale then proceeded. The quantities offered were
as follow :-100 chests of Bohea, 99 chests of Congou,
249 chests of Campoi, 19 chests of Souchong, 21.5 chests
of Caper, 200 chests of Twankay, and 60 chests of Gun-
powder. Boheas realized Is. 11 d. to 18.1.11 d. per pound ;
Congou, 2s. lid. ; Campoi, Is. 9d. ; Souchong, 2s. Id. ;
Caper, 101 d. ; Twankay, 2s. lid. ; and Gunpowder, 45.4 d.
and 6s. per pound. The teas were fair in quality, and
realized full market price.