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Updated: June 10, 2025
The factorage system appears to have been introduced in Virginia around 1625, and was actually a part of the consignment system. A factor was one who resided in the colony and served as a representative and the repository of the English merchant.
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.
The slinger of this first resounding little missile, Walpole informs us, was "one Mauduit, formerly a Dissenting Teacher," son of a Dissenting Minister in Bermondsey, I hear, and perhaps himself once a Preacher, but at present concerned with Factorage of Wool on the great scale; got soon afterwards promoted to be Head of the Custom-house in Southampton, so lovely did he seem to Bute and Company.
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