Holograph draft of MINT00727 (Mint 19/3/537)

<550r>

The surest method for setting a price upon the Tynn at Amsterdam is to know the price of the Tynn in the market of Amsterdam at any certain time & the course of ye Exchange at that time & thence to compute the price by the course of the Exchange at this present time.

When ye Ld Trearer Godolphin set the price at 44$\frac{\mathrm{1}}{\mathrm{2}}$ G. per 100 wt Dutch, the price in the market was from 45 to 47 G. as I find by Mr Drummonds Letter; & his Lop abated half a Gilder to make room for the varying of the Exchange. At that time the Exchange was at 34ss 6d. Tis now at 35ss 10d. And as 34ss 6d to 35ss 10d so is 45 G. (the lowest price in the market at that time) to 46G. 15st the lowest price in the market suitable to the course of the Exchange at this time. This price answers to 4li 3s 5d per C wt English.

Last summer when the Exchange came down to {illeg}34ss or under, the lowest price of the Tinn in the market was 44$\frac{\mathrm{1}}{\mathrm{2}}$ G. And at that r{illeg}ate the lowest price now ought to be 46G 15st or 47G. And this price answers to 4li. 3s. 6d, or 4li. 4s. per C wt English.

In the Acct lately drawn up by me, the price came to 4li. 5s. 8d per Cwt English. But to bring it to the lowest price of the market some abatements must be made. A Dutch Commission for buying Tynn at ye Tower was there put at 9d per C wt whereas the Dutch in times of peace will not value it at {illeg}3d can have their buisiness done by the Pewterers for 6d. Insurance at se{illeg}a was there put at 9d Whereas the Dutch in times of peace will not value it at {illeg}3d. Interest for two months forbearance of payments was put at 9 st. per 100wt Dutch, whereas the Dutch who can borrow money at 4 pr cent will reccon it but at 6 st. per 100wt. And freight was put at 3$\frac{\mathrm{1}}{\mathrm{3}}$ st. per 100 wt whereas the Dutch can have Tynn brought home upon their own bottoms sometimes at half that price sometimes for ballast. If upon all these accounts about 14d per C wt be abated the remaining price will be about 4li 4s 6d per C wt. And further there must be an abatement out of the Duties paid in Holland, wch in the said Acct amounted to 1 Gilder 5$\frac{\mathrm{5}}{\mathrm{6}}$ stivers per 100wt. For a Dutchman <550v> usually contrives to have his Tynn put on board several ships for lessening the charge of freight, & to run as much of it as he can, & what they cannot run they endeavour by their acquaintance to get taxed low. And I know not what abatement to make for these practises. If only 6d be abated per C wt, the remaining price will be 4li. 4s. per C wt; if 1s, it will be 4li. 3s. 6d.

By all these recconings the lowest price of Tynn per 100wt Dutc in ye Dutch markets should answer to 4li 3s 6d or 4li. 4s. per C wt English. For I know not how to be more exact in this slippery recconing where the uncertainties secrets & mysteries of tra{illeg}de cannot be brought to a certainty recconingty.

Out of this price a deduction is to be made of one per cent Commission; one pr cent prompt paymt, one per cent {illeg}Insurance of paymts if the Queen insures, $\frac{\mathrm{1}}{\mathrm{3}}$ per cent Brokerage, $\frac{\mathrm{1}}{\mathrm{6}}$ per cent carriage to the city weighouse & weighing for sale, $\frac{\mathrm{1}}{\mathrm{2}}$ per cent City Duty at the weigh house, $\frac{\mathrm{1}}{\mathrm{5}}$ pr cent Warehouse room: in all 4$\frac{\mathrm{1}}{\mathrm{5}}$ per cent of 3s 6d pr C wt. And the remaining price will be 4li, or 4li. 0s. 6d clear of all charges, except what shall be allowed for returning the money for wch the Tynn isshall be sold. For Mr Beranger insisted upon 5d per C wt for turning specie money into Banck money & making returns.

In the discourse betwwen Mr Beranger & me he proposed to sell the Tynn himself by his Agents & pay the produce clear of all charges to his Lordps Order, & account for the same before an Auditor provided he c{illeg}ould have good vouchers. And he {illeg}is still willing to undertake this

Considering the great quantity of the Tynn, & that Mr Beranger does not live in Holland as Mr Drummond did an Agent when ever it shall be thought fit, may be sent into Holland to oversee the Sales & Accounts & Tynn remaining & keep a recconing thereof & perhaps have one of the {illeg}keys to each Ware house where the Tynn is laid up to be sold till it shall begin to be sold out of that warehouse.