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Collection of Howard A. Krumwiede
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Dup. brig pr. "John O'Gaunt" 112 Messer Fredk Huth & Co London Macao, January 22 1841. {1841/01/22} Dear Sirs, We have the pleasure to inform you of the settlement of the difficulties with the Chinese Government & that trade at Canton is to recommence again early in the next month. Captain Elliot has obtained an indemnity of six millions of Dollars, and the cession of the Island and harbour of Hong Kong to the British Crown, and has established direct official intercourse between the two countries on an equal footing, as you will notice by his circular of the 20th inst which we forward herewith. It is supposed that no northern ports have been granted, and that the Island of Chusan will be abandoned by the force there immediately. If the foreign trade can be brought to Hong Kong the acquisition of the Island will prove very valuable to the British Government, and it would be a port of great convenience & safety to all foreigners. For this reason the trade is to be carried on at Canton and the foreign merchants generally are[?] preparing to return there, and whether we shall be any better off there than formerly remains to be ascertained. The market for congo teas opened in Canton a month since at high prices say at 30 @ 35 for the finest chops down to 24 Taels for common kinds. In Green Teas very little has been done and prices cannot be quoted, the supply of all descriptions of tea is not large & we expect prices will rule high for several month. The Teas going forward in the John O'Gaunt, Lloyds & Charles Ker were brought out of port in the American ship Kosciusko, which vessel has lately been permitted agress by Commodore Bruner after lying at Whampoa six months. Of Nankin Raw Silk there are about 2000 Bales on the market, but the holders are asking 500$ per picul for best chops, and no transactions have taken place. Regarding Imports there is a large supply here to be sent up to Canton, and the market there is very dull for most descriptions of British manufactures, & without the renewal of the export trade creates a demand prices for Imports will rule very low for a few months. Exchange in London nominal at 4/8, in Bengal 218 00[?] Pd per 100$ We remain Dear Sirs Your obd Servants - Russell & Co. p.s.