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Alexandria Daily Gazette, Commercial & Political
Alexandria, Virginia
What is this article about?
Letter from Cadiz dated October 10, 1808, reports Seville Junta opening provincial trade to English: cotton manufactures allowed at 15% duty; British-owned sugars, coffee, cocoa in English/American vessels at double Spanish rate. Cadiz harbor filled with British goods; provisions low; tobacco at 22-25 dollars but expected to fall post-US embargo; cautions against immediate shipments due to oversupply.
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"The Junta of Seville has opened the trade of the province to the English. Cotton manufactures, formerly prohibited, are allowed to be imported on paying a duty of 15 per cent. Sugars, coffee, and cocoa, in English or American vessels, are admitted (provided the property is British) paying double what is paid when imported in Spanish vessels. This harbor is full of British productions, on which an immense sum must be sunk.
"Provisions of every kind are extremely low. Tobacco would bring 22 to 25 dollars -:-but the moment the embargo is raised in America, it will probably fall to 10 dollars or less. I would caution all my friends in America against shipments to this, or indeed to almost any foreign country, immediately after the embargo is raised; as such immerse shipments must be made to all parts that every market will be overstocked."
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Where did it happen?
Foreign News Details
Primary Location
Cadiz
Event Date
10th October 1808
Outcome
trade opened with duties: cotton at 15%; sugars, coffee, cocoa (british property) at double spanish rate; provisions low; tobacco prices expected to drop from 22-25 to 10 dollars or less after us embargo lift; warning of market oversupply.
Event Details
The Junta of Seville opened the province's trade to the English, permitting import of formerly prohibited cotton manufactures at 15% duty and sugars, coffee, cocoa in English or American vessels (if British property) at double the Spanish vessel rate. Cadiz harbor is full of British productions. Provisions are extremely low; tobacco currently fetches 22-25 dollars but will likely fall to 10 dollars or less once the American embargo is raised. Caution advised against immediate shipments to foreign countries post-embargo due to expected massive shipments causing oversupply.