The Sun.
London, England, 1845-01-06 00:00:00

THE TEA TRADE.

The commercial intelligence brought by the overland
mail is not of a very cheering character. It is true that
hopes are expressed of an improvement in trade; but at
present prices are recorded as being very low, and busi-
ness as being very limited. All seems to indicate that
caution should be exercised in exporting goods to India
and China. With respect to the latter country, the
parties concerned in the tea trade here are drawing at-
:ention to the small consumption of manufactured ar-
ticles as an argument for the reduction of the duty on
tea. The following extracts from two trade circulars
illustrate the controversy that is now going on with re-
spect to this subject. Both of them are in favour of a
reduction of the duty. The first is from the circular of
Messrs. Carlisle, Capel, and Co.:—
" If we are to reap the advantages of an extended in-
tercourse with that vast empire which is now open to
the commercial enterprise of the world, it is evident that
we must open to that country a market which will re-
ceive a corresponding return for our increased exports.
That no such market can be looked for under the pre-
sent fiscal arrangements, the history of the . tea market
for the past few years affords ample testimony, for the
depression has been such as to subject our merchants
and manufacturers in many instances to losses which
have rendered the trade altogether unprofitable ; thus,
we find from the intelligent circular of Messrs. Gibson,
Ord, and Co., that notwithstanding the very profitable
rates quoted by the last overland mail for the article for
shirtings, the transactions entered into in Manchester
were limited in extent, which can only be accounted for
by the constant apprehension parties are under as to re-
turns.' It is true a gradual increase has taken place in
the consumption of tea, but that increase bears no pro-
portion to the increase of population, or to the reduction
in the bonded price, and only serves to indicate to what
extent the consumption would reach were the present
enormous rate of duty sufficiently reduced to admit of a
material diminution of the retail prices."
The second is from the circular of Messrs. Lloyd,
Matheson, and Co.:—

" The injurious effects of the present duty, alluded to
in our circulars of January 1843-1844, as being so espe-
cially oppressive in the lower kinds of congon as almost
to exclude them from consumption, is illustrated by the
fact, that at the present time, with an incrfase in the
stock of the United Kingdom over that of last year, there
is a great scarcity in all markets of the medium and
finer kinds, the inquiries for which have advanced them
2d. to 3d. per pound, wile the lowest qualities remain
almost stationary, notwithstanding that there have been
very extensive speculative purchases. When, therefore,
we look forward to another year's importation, which
from the extended shipments of our manufactures is
likely still further to exceed our present consumption,
we can see nothing in prospect buts further accumulation
of this class, unless by a great and immediate reduction
of the duty a much larger consumption is created, en-
couragement to hope for„ which is afforded by the very
general opinion now prevailing of the necessity, if not the
probability, of its taking place. "—Times: