Daily American organ., 1856-04-19
Col. Thomas III. Perkins.

Mr.. Cary, OF Boston, In his recent lie OF his
father-in-law Thomas Handyfeld Peskins, the great
merchant and philanthropist, thus relates an inte-
resting incident in illustration Of Col Perkins's
cautious and intelligent methods in opposition to
the blind love OF speculation:
80 About thirty years ago the price of coffee,
which for long time previously had been as high
as twenty-five cents, had declined to fifteen cents
per pound, and Col Perkins being in New York
for day or two, on visit to daughter who re-
sided there, a wish was expressed that 1t might be
suggested to him that the temporary depression
having made it a fit subject for speculation, II ne
should be disposed to engage in it on the extended
scale to which he was accustomed, there was an
opportunity to secure q large quantity on even
more advantageous terms. As coffee was an arti-
Gle out of the line of his usual operations and not
likely to attract his particular attention, the sub
ject was mentioned TO him rather for entertain
ment, in conversing upon the occurrences OF the
time and the news of the day, than in the belief
that he would give it q serious thought Without
hesitation and with the ease and precision OF an
able lawyer or surgeon in giving an opinion on
any case presented to either OF them professionally
he answered to this effect The depression in
coffee is not temporary. Whoever makes pur-
chases at fourteen, or even at thirteen cents,
will find that he has made mistake, unless he
means to take advantage OF any transient demand
to dispose Of it speedily. ~ girf. .as
.tThere are more coffeetrees now in bearing
than are sufficient to supply the whole world, by
proportion that could state with some precision
If necessary. The decline In price is owing to ac-
cumulation, which will be found to increase, par
ticularly as there are new plantations yet to come
forward Coffee viii eventually fall to ten cents,
and probably below that, and will remain depressed
for some years. The culture of it will be dmin-
ished Old plantations will be suffered to die out,
and others will in some cases be grubbed up, that
the land may be congerted to new uses At length
the plantations will be found inadequate to the
supply of the world But it requires FIVE or six
years for the coffee-tree to reach it's full bearing
Time of course, will be reQniced for the necessary
increase, and the stocks on AAnd WIN be diminish
ing In the mean time. A rise must follow. Who
ever Duy. .~Eso twelve or fifteen years hence at
the market price, whatever it may be, will proba-
bly, find IL rising ON his hands, and fortunes may
be made, unless speculative movements should
have disturbed the regular course of events With
so clear outline for the future, it was interest
ing to observe what followed. Coffee gradually
fell to less than ten cents and remained low. q
One consequence, usual in such cases, cnsued.
The consumption increased. Misled, perhaps, by
this, and an impatient desire to be foremost in Be-
curing advantages which by that time were gene
rally foreseen, parties began to move in specula
tive spirit about FIVE years before the time thus
indicated. They made great purchases, and large
quantities were held in expectation of profit. 1t
was curious to notice the action and hear the re-
marks of various persons concerned in what en-
sued, according to their different degrees of intel
hgence on subject that was not, even theh, fully
understood by all Coffee rose considerably. Some
of them secured a moderate profit while they
could. Others, arguing on crude belief that as
coffee had been at twenty-five cents, there was no
reason why it should not attain that price again,
determined to wait for far greater profits. The
stimulant given to the demand, by withholding
large quantities from SALE developed greater stocks
than were supposed to exist; the movement was
found to be premature and coffee fell again in
price. Immense sums were lost. Bankruptcy fol.
lowed, with many heartache that might have
been prevented by counsel from one like him, who
had the comprehensive views and thorough knowl-
edge that belong to n cOmplete merchant