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By 1775 the factorage system had developed to the extent that one planter found four firms at Colchester, eleven at Dumfries, and twenty at Alexandria which would buy wheat, tobacco, and flour in exchange for British goods and northern manufactures.
The bales he spoke of lay on the deck; and showing them to me, he says, There are the goods; I hope you will take care to sell them, and you shall have factorage. I thanked him for giving me an opportunity to employ myself, because I hated to be idle.
Henry Laurens, after withdrawing from African factorage at Charleston because of the barbarities inflicted by some of the participants in the trade, wrote in 1768: "Yet I never saw an instance of cruelty in ten or twelve years' experience in that branch equal to the cruelty exercised upon those poor Irish.... Self interest prompted the baptized heathen to take some care of their wretched slaves for a market, but no other care was taken of those poor Protestant Christians from Ireland but to deliver as many as possible alive on shoar upon the cheapest terms, no matter how they fared upon the voyage nor in what condition they were landed."
And I remember a pretty history of a particular case, by way of instance, when two merchants, contending about a long factorage account, that had all the niceties of merchandising in it, and labouring on both sides to instruct their counsel, and to put them in when they were out, at last they found them make such ridiculous stuff of it that they both threw up the cause and agreed to a reference, which reference in one week, without any charge, ended all the dispute, which they had spent a great deal of money in before to no purpose.
Ten per cent abated to circulate them. Ten per cent factorage, freight, gabberage, key-porters, &c. all which is forty per cent, charged on the same. 17th. That if the said Wood was obliged to make his light money not to exceed two shillings in the pound weight according to the English coin, he would give up such grant, for six pence in each pound weight is 25 per cent. 18th.
The bales he spoke of lay on the deck, and shewing them to me, he said, "There are the goods; I hope you will take care to sell them, and you shall have factorage." I thanked him for thus affording me an opportunity of employing myself, because I hated to be idle. The clerk of the ship took an account of all the bales, with the names of the merchants to whom they belonged.
In the meantime, the captain came to me and said: 'Brother, I have here some goods that belonged to a merchant, who sailed some time on board this ship, and he being dead, I design to dispose of them for the benefit of his heirs. The bales he spoke of lay on the deck, and showing them to me, he said: 'There are the goods; I hope you will take care to sell them, and you shall have factorage. I thanked him for thus affording me an opportunity of employing myself, because I hated to be idle.
The same sovereign, however, who increased the tolls of the Sound, counterpoised the bad effects of this measure, by the encouragement he gave to manufactures and commerce; in this he was seconded by the Danish gentry, who began to carry on merchandize and factorage themselves, and also established manufactories.
The rise of a class of factors in Virginia, aided by the Scottish merchants, made it possible for the planters to break away from the London commercial agents. The Revolution cut the connection between England and the Virginia planters, but the factorage system was not destroyed. The merchants and businessmen in the former colonies simply replaced the English factors.
At Charleston these merchants charged a ten per cent commission on slave sales, though their factorage rate was but five per cent. on other sorts of merchandise; and they had credits of one and two years for the remittance of the proceeds.
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