Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1812-12-07
BOSTON.


The gentleman who attended on The part OF
t'e merchants of Boston, made statement in
all important particulars, the same ~ the fore
going statement Of the committee from New
York, except so far aa the following particu-
lars may distinguish them
He stated that he was in England from June,
1910, 10 Mav, 1911; that large quantities of
goods were purchased and prepared for ship.
ment before I'd February, 1911, on account OF
the merchants OF Boston, which arrived at tie
shipping ports too late TO be shipped before the
day last mentioned. portion of these were
shipped in the ensuing spring aud summer to
Halifax and Montreal, and the greater part of
those thus shipped have been introduced into
the United States since the war.
The remainder of the goods purchased be
fore the 2'l February, 1Si !, forms part of those
| which lave been lately imported into the Uni
ted States directly from Great Britain Consi
derable portions Of the goods thus imported
were purchased subsequently to the Cd Februa-
ry, 1911, and before the revocation of the Dp;-
tish orders in council, by those who had funds
IN England which they could not bring home.
And there was q very considerable por, ion OF
these appropriations purchased Immediately af.
ter The revocation OF the orders in council. The
last description ofgoods was shipped in pursu
ance ct specific orders previously given, which
were 20 be executed when the shipment OF
them should he deemed legal, or by con6den-
tIai agents in England acting under general
powers The general orders relative to the
shipment of the goods on hand, or those order
ed, were, to ship when it should be legal to
do so
The goods purchased before the I'd Februa-
! ry, 1871, were purchased on the usual credits
OF three and six months Those purchased
between that date and the revocation Of the
orders in council, were almost exclusively pur.
chaied with cash, as the only object Of the
purchase was to invest the money of the pur
chasers The greater part of those purchased
at the moment of the revocation was purcha
| sed with cash, which hud been placed in Eng
land tor the purpose.
| at the period Of the declaration of war the
exchagne was AT D per cent discount. After
wards it was difficult to negotistc exchange a,
/ all, end IT WAS thrown something under that
depreciation since the late importations il
has risen, AMI is now at from IL to Is per cent.
discount.
| Che goods which were purchased after the
I'd February, 1911, and before the revocation
OF the orders in council, we're purchased at a
! lower than the usun, rate In six months after
the I'd February, 1911, cotton goods suffered
depression equal TO l5per cent. after the
revocation there was small advance.
! Generally the importers of British goods
werc not the slippers of American produce to
the peninsula Or elsewhere; there are eScep-
tons many houses much engaged in the ship
menis to the peninsula are among the late i'm.
porters A very large portion of the goods
lately imported on account of the merchants of
Boston were imported by those engaged in the
exportatIors to the peninsula, who never i'm
ported Brt;sh goods before.
Probably three-fourths of the mportations
INFO Boston have been sold. The extraordna
nv profit, beyond thatof peace and free inter-
course, is about frou, 1--WE TO ten percent. The
late importatlons are less than the usual fall
importations.
ITO be Concludedf, our nert