^o A. D. 1784. 



perhaps of all others the moft valuable article to the fmuggler ; and it 

 is certain, that an encouragement to fmuggle fuch a leading article oper- 

 ates at the fame time as an encouragement to bring many others along 

 with it, which would not be brought at all, except, as it were, in the 

 train of a more capital, or more convenient, article. The defalcation 

 of the revenue by fmuggling, which the committee of the houfe of 

 commons eftimated at not lefs than two millions a-year, was alfo an ob- 

 je(5l, which powerfully attradted the attention of adminiflration. It was 

 therefor thought advifeable to lower the duties on fome of the articles, 

 which compofed the fmugglers' cargoes, and efpecially on tea, which 

 was juflly confidered as the bafis of their whole trade. But, as it was 

 uncertain, how far the increafed confumption of tea legally imported 

 would make up for the diminution of the rate of duty, it was propofed 

 to raife at leaft ^^600,000, the eftimated amount of the intended reduc- 

 tion from the former duties, by a duty upon houfes, an objedl of taxa- 

 tion, which could not be fecreted from the colle<5i:ors of the revenue, as 

 a commutation for the deduction from the tea. 



It was therefor enaded, that the exifling duties upon tea fhould be 

 repealed ; and, inftead of them, all teas, to be delivered from the ware- 

 houfes of the Eaft-India company after the 15'" day of September 1784, 

 Ihould be charged with a duty of twelve and a half per cent computed 

 upon the fale price, which the company are required to receive from 

 the buyers, and to pay to the colledor of the cuftoms. Teas, exported 

 to any place to which a drawback is allowed, may be {hipped from the 

 warehoufes free of duty, or may draw back the whole duty, if it has 

 been paid. And it being reafonable that the ' company fhould, in con- 

 ' fideration of the great benefit which may refult to their commerce 

 ' from the redudtion of duties hereby made, contribute their utmoft 

 ' endeavours for fecuring to the public the full benefit, which will arife 

 ' from an immediate and permanent redudlion of prices,' they were di- 

 rected to make four fales of tea every year, and to put up at leaft 

 5,000,000 pounds at the firft fale, 2,500,000 pounds at the fecond, and 

 thereafter fuch quantities as may be judged fufficient for the demand. 

 And that the company might take no advantage of the real monopoly of 

 tea, which this ad would throw into their hands, they were obliged to 

 put up the teas at the four firft fales to be made after paffing this ad: at 

 the following prices, viz. 



Bohea tea - 1/7, Souchong and Singlo - 3/3, 



Congo - - 2/5, Hyfon - - - 4/ii, 



and to fell them without referve, if but one penny per pound above 

 thefe prices were offered. They were befides at all times to keep on 

 hand a fufficient ftock of teas for at leaft one year's confumption, and 

 to put them up to audtion at a. price not exceeding the prime coft and 

 charges, including freight and infurance, whereby their profit was made 

 to confift in the advance given by the buyers above the upfet price. 



