Tea Leaves

20, 1773,) for the exportation of six hundred thousand pounds, which were to be sent to Boston, New York, Philadelphia and Charleston, S.C., the principal American ports. As soon as this became known, applications were made to the directors by a number of merchants in the colonial trade, soliciting a share of what promised to be a very profitable business. The establishment of a branch East India house, in a central part of America, whence the tea could be distributed to other points, was suggested. The plan finally adopted was to bestow the agency on merchants, in good repute, in the colonies, who were friendly to the administration, and who could give satisfactory security, or obtain the guaranty of London houses.

The company and its agents viewed this matter solely in a commercial light. No one supposed that the Americans would oppose the measure on the ground of abstract principle. The only doubt was as to whether the company could, merely with the threepenny duty, compete successfully with the smu