Reading35-1 (dragged) 9

Reading35-1 (dragged) 9 - 10 Reading 35-1 100% of wholesale...

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10 Reading 35-1 100% of wholesale value and was always levied at the ports. It was no wonder that smuggling and adultera- tion were common practices, probably doubling the legal tonnage imported. Legal imports into England were probably about 50 short tons 10 in 1700, at a wholesale value of about £4000 per ton, or £2 per pound. The continent probably imported about a 3rd as much. About a 5th was re- exported by the East India Company to British colonies, Including America. The total imports into Britain grew from 50 tons in 1700 to at least 15,000 tons in 1800. The average for the century was rather less than 4000 tons, and the wholesale, landed but untaxed, value in bond was about £350 per ton, falling from £4000 in 1700 to about £200 (or 2 shillings per pound) in 1800. The volume rose 300 times, or 30,000%, while the price fell to 5% of what it had formerly been in London. All this tea, if tea it was, came from China. All of it passed through the tiny area of Canton in which the Europeans were welcome. Ships would carry only a few hundred tons each, in order to spread risks.
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