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Fish and Flour for Gold: Southern Europe and the Colonial American Balance of Payments*

Published online by Cambridge University Press:  24 July 2012

James G. Lydon
Affiliation:
Associate Professor of History, Duquesne University

Abstract

A neglected trade and its commodities are emphasized in Professor Lydon's consideration of the colonial merchants' search for profitable returns to England.

Type
Research Article
Copyright
Copyright © The President and Fellows of Harvard College 1965

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References

1 “Schooner Jolly Robin's book of Acco'ts. for Voyages as Settled per Dan'l Staniford,” Heard Collection, AQ 1 (Baker Library, Harvard University Graduate School of Business Administration).

2 Nettels, Curtis P., The Money Supply of the American Colonies before 1720 (Madison, 1934), pp. 9697Google Scholar.

3 Hall, Fayrer, The Importance of the British Plantations in America to this Kingdom (London, 1731), p. 98.Google Scholar

4 John Huske, The Present State of North America, quoted in McFarland, Raymond, The History of the New England Fisheries (New York, 1911), p. 98.Google Scholar

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7 The Names of such Ships and Masters that have come in and gone out of our Harbors & Given bond for His Majesty's Customs, August 16, 1661 to February 25, 1662” (Photo stat at the Mass. Historical Society).

8 Abstracts of English Shipping Records Relating to Massachusetts Ports — from Original Records in the Public Record Office, London (Mass. Historical Society, cited hence as Photostats, MHS). Part I, p. 28 indicates that 500 tons of fish were shipped to Bilbao. Two other cargoes cleared to Portugal and the Canary Isles. The estimate is 550 tons of fish or 11,000 quintals.

9 Nettels, Money Supply, p. 79; Photostats, MHS, Part I (Entrances and Clearances, 1686–1717) and Part II (Entrances and Clearances, 1717–1755).

10 Hall, Importance of British Plantations, p. 102; Photostats, MHS, Part II.

11 Photostats, MHS, Part II.

12 Hosmer (ed.), John Winthrop's Journal, vol. II, p. 42. Lounsbury, Ralph G., The British Fishery at Newfoundland, 1634–1763 (New Haven, 1934), p. 58Google Scholar indicates that 100 dried cod equalled a quintal. Several sources price New England fish at 32 rials or 16 shillings at this time. Half the fish were merchantable. See note 8 above for volume of fish shipments; John Hull's Journal, 1685–1689 (Baker Library) prices merchantable fish at ten shillings/qtl., so 11,000 qtls. equalled £5,500. For 1700 shipments see Nettels, Money Supply, p. 79. The 1731 figure is from Hall's Importance of British Plantations, p. 102.

13 Great Britain Public Record Office, Calendar of State Papers, Colonial Office Series, vol. VIII (16751676), p. 409.Google Scholar Henceforth cited CSPC.

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15 Photostats, MHS, Part I, p. 28. Prices for these goods may be found in John Hull's Journal, 1685–1689 (Baker Library).

16 Innis, Harold A., The Cod Fisheries: The History of an International Economy (New Haven, 1940), p. 159.Google Scholar

17 As an example, of 90 vessels entering Boston from Southern Europe between No vember 27, 1752 and December 3, 1755, 71 carried only salt, 3 salt and wine, and 16 wine only.

18 Boston Records, XXXII (A Volume Relating to the Early History of Boston containing the “Aspinwall Ntarial Records” from 1644 to 1651) (Boston, 1903).

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27 Ibid., p. 180. A moyo equals 23.0 bushels of grain, total then was 3,454 bushels.

28 Beer, Old Colonial System, vol. II, p. 114.

29 Ibid., p. 143.

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33 Ibid., vol. XXIX (1716–1717), p. 256.

34 Ibid., vol. XXVIII (8/1714–12/1715), p. 15.

35 Ibid., vol. XXIX (1/1716–7/1717), p. 271.

36 Hanna, Mary A., The Trade of the Delaware District before the Revolution (Northampton, Mass., 1917), p. 265n.Google Scholar

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38 Ibid.; Whitworth, Charles, The State of the Trade of Great Britain in its Imports and Exports Progressively from the Year 1697 to 1773 (London, 1776), p. 67.Google Scholar

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40 Hanna, Trade of the Delaware District, p. 264–65.

41 Statistics taken from the Pennsylvania Gazette (Philadelphia), August 7, 1735 to August 2, 1736.

42 Bezanson, et als., Prices, p. 35, citing Samuel Powell, Jr. to Gabriel Manigault, Philadelphia, March 16, 1747.

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45 Ibid., pp. 237–44.

46 CSPC, vol. VII (1669–1674), p. 294.

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48 Photostats, MHS, Part II (1717–1755).

49 Postlethwayt, Malachi, Universal Dictionary of Trade and Commerce (2 vols., London, 17511755), vol. I, p. 362.Google Scholar See also South Carolina Gazette, 1731–1738. Average price of rice in this era is considered as 38 shillings/bbl.

50 Postlethwayt, Universal Dictionary, vol. I, p. 362.

51 Photostats, MHS, Part I (1686–1717).

52 Prices are taken from John Hull's Journal, 1685–1689 (Baker Library).

53 Salem statistics are to be found in Photostats, MHS, Part II (1717–1756). Prices were found in mercantile correspondence.

54 Whitworth, State of the Trade of Great Britain, p. 63.

55 Shillington, V. M. and Chapman, A. B., The Commercial Relations of England and Portugal, 1487–1807 (London, 1907), p. 217.Google Scholar

56 Ibid., pp. 239–41, 249.

57 The Mercator (London), Number 74 ( 1713), p. 2.

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60 Fluctuations in the economy are noted by Pares, Richard, War and Trade in the West Indies (Oxford, 1936), pp. 1416Google Scholar; Warren, George F., Pearson, Frank A., and Stoker, Herman M., Wholesale Prices for 213 Years, 1720–1932 (Ithaca, 1932), pt. II, p. 201Google Scholar; Hamilton, Earl J., War and Prices in Spain, 1651–1800 (Cambridge, Mass., 1947), p. 176Google Scholar; Bezanson, et al., Prices, pp. 9–13, 315–16; Cole, Arthur H., Wholesale Commodity Prices in the United States, 1700–1861 (Cambridge, Mass., 1938).CrossRefGoogle Scholar