'Considerations about selling the tin'

<537r>

Considerations about selling the Tinn.

In trade there are uncertain secrets & mysteries which cannot be reduced to a recconing, & unlesse competent allowances be made for these, the Dutch will undersell the Queens Agent at Amsterdam

The secret method for setting the price now 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 exchange at the same time & thence compute the price by the course of the Exchange at this present time.

When the Lord Treasurer Godolphin set the price at 44$\frac{\mathrm{1}}{\mathrm{2}}$ Gilders the price in the market was from 45 to 47 Gilders. As I find by Mr Drummonds letter, & his Lordship abated $\frac{\mathrm{1}}{\mathrm{2}}$ a Gilder to make room for the varying of the Exchange. At that time the Exchange was at 34sc. 6d. Tis now at 35sc 10d. And as 34. 6 to 35 10 so is 45 Gilders the lowest price in the market at that time to 46. 15 the lowest price in the market, suitable to the course of Exchange at this time. And this price answer to 4li 3s 6 per cwt English weight

Late summer when the Exchange came down to 34sc. 0d or under the lowest price of the Tin in the market was 44$\frac{\mathrm{1}}{\mathrm{2}}$G. And at that rate the lowest price ought now to be G. 15st or 47G And these prices answer to 4li 3s. 6 or 4li 4s per cwt weight english.

In the Account lately drawn up by me, the price came to 4li 5s 8d per cwt English weight. But to bring it to the lowest price of the market some abatements mest be made. A Dutch Commission for buying Tyn at the Tower was there put at 9d whereas the Dutch can have their business done by the Pewterers for 6d. Insurance at sea was put at 9d whereas the Dutch in times of peace will not value it at 3d Interest for two months forbearance of payments was put at 9 stivers per 100 weight whereas the Dutch who can borrow money at 4 per cent will reccon it but at 6 stivers per 100 weight. And freight was put at 3$\frac{\mathrm{1}}{\mathrm{3}}$ stivers 100wt whereas the Dutch can have Tyn brought home upon their own bottoms sometimes at half that price & sometimes for ballast If upon all these accounts about 14d be abated the remaining price will be 4. 4. 6 per cwt weight. And further, there must be an abatement out of the Duties in Holland which amounted to 1 Gilders 5$\frac{\mathrm{5}}{\mathrm{6}}$ stivers per 100 weight. For a Dutchman usually contrives to have his Tin 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 per cwt be abated the remaining price will be 4li. 4s. 0d per cwt. If 1s it will be 4li. 3s. 6d.

By all these recconings the lowest price of Tynn per 100 weight in the Dutch Marckets should answer to 4li 3s 6d or 4. 4. 0 per cwt weight English or thereabouts. For I know not how to be more exact in <537v> this clippers recconing.

Out of this price a deduction is to be made of one per cent Commission, one per cent prompt payment, one per cent insurance of payments if her Majesty insures, $\frac{\mathrm{1}}{\mathrm{3}}$ per cent Brokerage, $\frac{\mathrm{1}}{\mathrm{6}}$ per cent carriage to the city weigh house 8 weighing for sale, $\frac{\mathrm{1}}{\mathrm{2}}$ per cent City Duty at the Weighouse $\frac{\mathrm{1}}{\mathrm{5}}$ per cent warehouse room: In all 4$\frac{\mathrm{1}}{\mathrm{5}}$ per cent, or 3s 6d per cwt weight. And the remaining price will be 4li. 0s. 0d or 4li. 0s. 6d clear of all charges except who shall be allowed for returning the money for which the Tynn is sold. For Mr Beranger insisted upon 5d per cwt for turning specie money into Bank money.

In the discourses between Mr Beranger & me about this matter he proposed to sell the Tynn himself by his Agents & make his payments to the Queen as soon as the money came in the {illeg} at the end of two months after the sales, so much time being given to the chapmen to make their prompt payments to him. No mention was made of usan{illeg} for the money was to become due to the Queen at the end of the two months, & I had no notion of her Majestys paying interest for her own money. Mr Beranger proposed to sell the tynn himself at his Lordps price & pay the produce clear of all charges to {illeg} Lordships Order, or account for the same before an Auditor provided he could have good Vouchers. He proposed to make his payments to the Queen within two months after the sales so much time being given to Chapmen to make their prompt payments to him. And no mention was made of {illeg}ance

Considering the great quantity of the Tinn & that Mr Beranger does not live in Holland, as Mr Drummond did. An Agent, whenever 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 keys to each Warehouse where the Tinn is laid up till it shall begin to be sold out of that warehouse.