13 pp., on four 4-page conjugate sheets, the final page addressed as a stampless cover. 25x20.5 cm (9¾x8").
Long, interesting and historically pertinent letter from John Cryder, in London, to his business partner William Wetmore, who had recently arrived in New York from Canton China. Cryder discusses trade, commerce, business relations and other matters, primarily relating to trade with China, with much on interaction with other firms, issuing of credit and advances, and the opium trade, in addition to the early events of the Opium War. In part: “I am able to reconcile such an overall advance, till we got the first [account] of the opium difficulty, when Tea began to advance, as they said, we sold sparingly till lately… The proceeds of sale of these teas… fell short of the advance we made them about £180 which they object to paying… as they say, ‘that it is a very common thing in Scotland when a shipment turns out badly, for Houses to make large allowances.' I should be for letting all Scotsmen do their business somewhere else, they are the meanest devils on earth…’” He then turns to disruptions caused by the disputes known as the First Opium War, “when we first heard of the evacuation of Canton by the English Houses it was mentioned to me that some lots of goods gone out had been directed to be passed to you, but lately there has been quite a check to business… The stoppage of trade has been a perfect ‘god send’ to many… If the trade had not been stopped and the ships in Canton had brought their regular cargos this spring & added them to our large stock… you would have heard of terrible ?? in Teas, & have seen us in mourning over at least £10,000 over advance… When we first heard of the Opium difficulty, the rise in Teas was small and slow, people could not believe in a long stoppage of the trade. I will tell you when I see you, why I did not undertake a speculation then and make a fortune, but the belief having become very general lately that Govt. have ordered a large force from India to China to demand satisfaction & blockade the ports, an immense excitement has been the consequence and at the sale now going on they buy nearly every chest at an enormous advance, and even at those prices think them very cheap…” There is much more discussion of the troubles in China, and trade and financial challenges in general. A very significant and informative letter.