Middlemen in English Business 233 



any persons not being lightermen. '^ This was an exception to the 

 general tenor of the law which aimed at making ship-masters sell 

 directly to the London dealers; the intervention of the factors was 

 intended to prevent the proprietors of coal from imposing on the deal- 

 ers; the coal factors or crimps were supposed to be influenced by no 

 private motive since they were prohibited from buying or selling coals 

 on their own accounts, and to do justice between buyer and seller.- 

 But the intent of the law was not realized. Besides doing the com- 

 mission business of selling cargoes for owners, they dealt in a whole- 

 sale way in coals on their own accounts.^ The part of their business 

 which characterized them, however, and to which they gave most 

 attention, was that which the law proposed — the commission business. 



The coal was consigned to them by cargo; they engaged sales of it 

 by cargoes, halves, or quarters. The first few purchases on each 

 market day were effected only after considerable higgling as to price, 

 but, this price once determined by the sale of two or three cargoes, 

 the mass of the factors and buyers followed the same price during 

 the rest of that market.* All bargains or contracts for the sale of coals 

 by the factor were required to be entered in the factor's book, sub- 

 scribed by both buyer and seller and attested by the factor. The 

 factor gave a copy of the contract so signed and witnessed to the ship- 

 master.'' 



The crimps worked frauds in several ways. The most common 

 was to vend their consignments to their servants in trust, or to their 

 partners who were wholesalers.^ They also became ship-owners and 

 sold their own coal to the prejudice of their principals' consignments.' 



During the most of the period here studied, the London market for 

 coal was at the head of Bilhngsgate Dock, on a place called Room- 

 Land.^ The coalmen and woodmongers assembled here every morn- 

 ing and the place was a real Exchange for the coal trade. It was very 

 inconvenient in the winter-time since there was no protection from the 

 weather.^ The market was transferred in 1768 to a new building in 

 Thames Street and took the name Coal Exchange. 



^ 3 Geo. II, Cap. 26, Sec. 5. 



- "Considerations on tlie present high prices," 15. 

 ••' CampbeU, 318. 



^ The determination of price is described in Rep. from Com. H. C, X, 551. 

 ^ 3 Geo. II, Cap. 26, Sec. 6; 11 Geo. II, Cap. 15, Sec. 6. See a copy of agreemenl 

 of sale, in Rep. from Com., H. C, X, 577. 

 « 9 Anne, Cap. 28, Sec. 7. 

 ' Rep. from H. C, II, 561. 



'» Defoe, Tour, II, 175; Maitland, London, II, 791. 

 9 Rep. from Com. H. C, X. 566, 571, 598. 



