Great Fortunes, and How They Were Made by Jr. James D. McCabe
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page 48 of 631 (07%)
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doubt that it is an easy way to obtain a cargo, but I am of opinion
that it is a very dear one, particularly as the fair purchaser, who has no other object in view but to invest his money, does not stay on the footing of competitors, who make their payments with Netherland bills of exchange, or wish to raise the prices of their coffee which they may have on hand for sale. Under these impressions, I desire that all the purchases of coffee on my account be made from individuals, as far as practicable, and if the whole quantity necessary to load the ship can not be obtained at private sale, recourse must then be had to government sales. In many instances I have experienced that whenever I had a vessel at Batavia, the prices of coffee at the government sales have risen from five to ten per cent., and sometimes higher. On the subject of coffee I would remark that, owing to the increase of the culture of that bean, together with the immense imports of tea into the several ports of Europe, the price of that leaf has been lowered to such a degree as to induce the people of those countries, principally of the north, to use the latter article in preference to the first. That circumstance has, for these past three years, created a gradual deduction from the consumption of coffee, which has augmented the stock on hand throughout every commercial city of the northern part of the globe, so as to present a future unfavorable prospect to the importers of that article. Indeed, I am convinced that, within a few months from this date, coffee will be ten per |
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