The enquirer. [volume] (Richmond, Va.) 1804-1815, 1812-12-10

delnkia were prepared for shipment by Dec
| 1910 a considerable portion was purcha-
sec; between February, 1871, and the revo-
cation OF the orders in council. and a few
were purchased Immediately after tho re-
vocation. Orders were given in the sum-
MGR. OF 1910 for the bulk of the goods which
have been larciy imported, and the p,inci-
pal part OF these orders were executed by
the month ci December, 1910 but on the
appearance Of the Proclamation of the Cd
OF November, 1910, the merchants cuun-
termanded the shipment "ftheiryoutls and
the further execution OF their orders, and
gave instructions that they should be com
picted aid the shipments made when the
orders In council should be revoked and
their importation into the u s. become le-
gal.
hgreat portion Of these goods was paid
! Tor at the, tine they were putup, Some of
them bought upon tie usual credit, but paid
tor long before the revocation OF the orders
| in Council.
Dry goods which were put up prior TO the
I'd OF February, 1911, aud those which
were purchased after tic revocation Of the
orders in council, were laid in at about the
usual prices; those purchased in the inter-
venIng time were from ten TO fifteen per
cent. lower Some articles of hardware cost
| rather an increased price, and none were
purchased at reduced prices.
| The importers of British manura lures
are not in Philadelphia exporters of pro-
duce. The trade of that city is divided a
Inong two classes of merchants one class
imports and the other exports. The impor-
ter almost universally makes his remittances
In bills. The rate of exchange in Phila-
| delphia varied in 1871 from 10 70 90 ard
halt per cent. discount in 1912, it has va
rleti from 10 to 20 per cent discount two
weeks agoit was at sixteen; in the fall of
| 1910, 1T was at about per cent discount
lie merchant does not consider as part
| ot his profit the advantage gained from a
temporary depression of exchange, because
on other occasions he has to paw q cores
pondng advance. 1t will be found in 90
years, or other considerable given period, to
be balanced. When it has been above mar,
they have not increased the usual advance
on their goods. They have never before
late periods known exchange on England to
be so low never knew it before these Pc
Iriods to be lower than ten per cent
Generally speaking. about one third of the
ilate importations remains on hand. The
profits have been rather greater than for
merly from to ~ per cent greater
But the merchants have been idle Cor almost
II years. paying house rent and all other cx-
pences or their establishments, without any
gain, and. considering these disadvantages,
they will Notwithstanding this profit be To-
sers, not gamers on their business.
The quantity imported is not full i'm
portation,
/ BALTIMORE.
The Committee from Baltimore confirm
ed, as applicable generally to that CITY, the
statement of the Committee from New-York.
except so far as the following particulars
may be variant from it.
| They stated that MIR. Russell, late CHARGE
Id'afaires of the u. States at London. had
been applied to for his opinion and advice.
and that he did advise these shipments. and
gave it as his opinion that the shippers
would be safe; that the original importers
OF Baltimore had sold nearly all their goods :;
that they have not more than one-ffteerih
or one-twentieth Of their importations on
hand: they have passed into the hands of
lobbers and spectators. The average pro-
1T which the importers have obtained beyond
that Of ordinary years is between Ave and ten
per cent.
The usual practice, under the late res
trictions, has been to give orders for goods
to be executed on the contingency of re-
| mission OF these restrictions. 1t is believed
that many Of the goods lately imported were
| purchased before the revocation Of the or
ders in council, and many before 2d Feb.
1911. The hardware inportatons were all
OF this description. One of the Committee in
October and November, 1871. passed tbro'
the great manufacturing towns in England,
and saw the warehouses full of gootls, pack
ed up, which were said to be there on A.
/ merican account.
| A great many Of these goods we're paid
for before their shipment, others were re-
nitted for before their arrival, and others
have been obtained on the usual credit. II
has not been the general practice to pay
for goods at the time of purchase, bat mer-
chants have had much more the means of
paying for the late importotons, than they
bad to pay some years ago. This increased
ability has arisen from the circumstance that
this description Of merchants have done no
business for nearly two years past. There
will be always some not wholly paid for !;
but, whether paid for or not, whenever III
are out Of the warehouse, they arc consider
cd as on account OF the importer.
The importers Of these goods are not the
same persons whohayc shipped American
produce to the Peninsula. It i, usual for
these importers TO place funds n England.
in anticipation 81 their orders, for the pur-
chase of goods the usual operation is bv
the purchase Of bills 0! exchange,
Dry goods have been purchased lately ri
lower rate than formerly, IN England
those purchased in Magcd, 4 ril, aud MAJ.
were obtained at It lower rate than the same
goods have been purchased at any Other
time. it was only At these periods laa;
goods we're purchased. at an unusually low
retc.