James Madison Papers

To James Madison from Maury & Latham, 2 January 1822

From Maury & Latham

Liverpool 2 January 1822


We beg to refer you to the annexed annual report upon Tobacco &c.1 The Sales of last month have been limitted, amounting only to about 400 Hhds. of which, 182 were Virginia leaf & 140 Strips—60 Hhds Kentucky leaf & 7 Strips—2 Hhds. Maryland, fair quality @ 7½. Holders have been pretty steady during the month; but by the last advices from Virginia received by the packet, it does appear to us that too much Tobacco will come forward soon, to allow the present prices to be fully maintained. The London market is very flat, & further arrivals there will tend to damp it. Should this be the case it must affect us here also.

There has been little doing for some days past, but that is usually the case at the Season of Christmas. The Tobacco Plant is arrived—the Comet looked for shortly.

The Stock of Tar in the hands of importers & speculators is 5700 barrels—we quote Carolina 14/ @ 15/ per bbl. & Virginia 16/ @ 17/. No decline apprehended, & may advance 6d @ 1/. The Stock of Turpentine 2300 bls. & steady @ 10/6 @ 13/ per Cwt.

For new Flaxseed, 65/ per Hhd. would be given. We remain Yours very respectfully

Maury Latham & Co

RC (DLC). Addressed to JM and marked “per Albion via N York”; postmarked 4 Feb. at New York. Docketed by JM.

1Enclosure not found.

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