THE TEA TRADE.
We have before us a statement of the imports, exports, ecarances, stocks, and prices of all teas for the years 1836 and 1837; prepared, with much industry and sagacity, by the respectable house of Messrs. MOFFATT, of Mincing Lane. The commercial pressure of the past year is evinced by the results. The average price of all teas in 1837 was higher than in the preceding year, by about 22 per cent., or better than one-fifth part. In the lowest quality of tea, the consumption of the poor, it was not less than 90 per cent. ; while in the finest teas, the consumption of the wealthy, it was but 14 per cent. ; and indeed, in the very finest kinds there was no advance at till, but rather a decline. The consequence is, that in the consumption of the poor there has been a decline of more than 2,000,000 lbs., whereas in that of the rich there has been an increase exceeding a million of ounds. Even in the consumption of the middle classes there has been an increase of above above a million of pounds, making on this large class of teas an advance of between 4 and 5 per cent. The total decline of consumption is, after all, little more than a niil- lion of pounds ; that of 1836 having been 38,700,000, and of 1837 about 37,600,000. The exports for the last.samed year were 4,600,000; exceeding those of the previous one by 400,000 pounds. The revenue, even in 1837, will, we suppose, be above 3,900,0001., or exceed that under the monopoly system by about 700.000/. The /ow prices of the free trade have put a total stop to smuggling in tea: and
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we recommend to the Government this example in the cases of te. bacco, geneva, and brandy ; for there is not the slightest doubt but an effectual reduction of duty on these commodities would put an end to the clandestine trade, extend our commerce, and serve some valuable branches of our manufactures. The tea trade reckon in the mean time on the continuation of the present comparatively high prices. They are under the impression that not above 30,000,000 of poun will be imported in the course of this season, while the stock in bona is 3,800,000 less than in 1837. Speculations of this kind are, how. ever, little to be relied on. The remunerating prices of tea will in evitably excite importation : there is no want of the lower. priced teas in the China market ; and the existing quarrel with the Chinese, like all its predecessors, will give way before the substantial interests of both parties. Meanwhile, the stock in bond amounts to 57,800,000 of pounds; equal to about eighteen months' consumption on the average of that of the two last years. It is worth observing, by the ways that the tea trade of London (viz. 33,700,000 pounds) is now greater than it was under the monopoly, when it had the whole trade of the kingdom ; whilst a new trade has been created for the outports, equal
to 8, i 500,000, or what is equivalent to the whole trade n this article of America and the Continent of Europe put together.
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