Volume 19 / Part 3 — Appendix: Buying and Selling Prices of Oriental Products

[The first list of prices that follows is from a compilation by the procurator of the Philippines, Martin Castaños, and is taken from a relation of Governor Juan de Silva entitled:]

Relation of the importance of the Filipinas and Terrenate

The nutmegs and mace when delivered in Europa cost the Dutch five hundred and twenty thousand pesos annually. The purchase, navigation, and [pay of] factors amount to one hundred and ten thousand pesos. Consequently, the net gain on the nutmeg and mace is four hundred and ten thousand pesos. That added to the profit of the cloves amounts to three million seven hundred thousand pesos.

His Majesty can make a profit of two millions annually on the silks of China in this way—that a ship of two hundred toneladas’ burden go each year [305] with the ships from Filipinas to Nueva España, with these silks, which cost the following prices.

Ten thousand pieces of Canton satin, at a cost of five pesos, amount to fifty thousand pesos.

Ten thousand pieces of damask, at four pesos, amount to forty thousand pesos.

Twenty thousand pieces of gorgoran, at a cost of one and one-half pesos, amount to thirty thousand pesos.

Thirty thousand varas of velvet in colors, at one-half peso, amount to fifteen thousand pesos.

These silks cost three hundred and thirty-five thousand pesos. They will, with the condescension of his Majesty, be taken to Perú (as is done, that other silks of China may not be taken from Nueva España), and are sold at Lima at the following prices.

Each libra of silk of the quality named in the first item, at fifteen pesos, the one thousand picos amounting to one million nine hundred and fifty thousand pesos.

Each piece of Canton satin at fifty pesos, the ten thousand pieces amounting to five hundred thousand pesos.

Each piece of damask at forty pesos, the ten thousand pieces amounting to four hundred thousand pesos.

Each piece of gorgoran at ten pesos, the twenty thousand pieces amounting to two hundred thousand pesos. [306]

Each vara of velvet at four pesos, the thirty thousand varas amounting to one hundred and twenty thousand pesos.

Taking from this amount the three hundred and thirty-five thousand pesos that those goods cost in China, and eight hundred and thirty-five thousand pesos for the cost of factors and of navigation, and whatever else their handling may cost, there is a net gain of two million pesos.

In that way his Majesty can obtain every year from Filipinas five million seven hundred thousand pesos net, after deducting the entire cost.

[The following list is from an undated memorial of probably the early seventeenth century which treats of the merchandise that the Portuguese were wont to take from China to Japan. The memorial first defines the value of certain coins and weights and measures.]

Ranquel are ten pieces of plate or crockery-ware.

Pico is equivalent to one quintal, but has one arroba more than ours. Cate is a weight of twenty onzas. [307]

The ship of the Portuguese carries from five to six hundred picos of white untwisted silk. It costs at Canton eighty taes per pico delivered in Macan, and is sold in Xapon for one hundred and forty or one hundred and fifty taes.

Laden with retros (the fine red silk), of four or five hundred picos of all colors, at a cost of one hundred and forty taes, it is sold in Xapon at three hundred and seventy and sometimes four hundred taes.

The common assorted retros costs from fifty-five to sixty taes in Canton, according to its quality, and is sold in Xapon for one hundred taes.

The silk of the darca, of all colors, is worth forty taes in Canton, and is sold by the libra in Xapon at nine maçes per cate.

It will take three or four thousand taes of gold. The tae of common gold is worth about four or five maçes per tae, and it is sold in Xapon for seven taes and eight maçes.

Fine gold is worth in Canton six taes six maçes, and seven taes per tae of common gold. It is sold in Xapon for eight taes and three maçes.

Moreover, two picos of musk will be taken. It [308] costs eight reals per cate in Canton, and is sold in Xapon at fifteen and sixteen, according to its quality.

It will carry about five hundred picos of white lead. It costs at Canton two taes and seven maces per pico; and, delivered at Macan, three. It is sold in Xapon for six and one-half and seven taes. The Japanese use a considerable quantity of it.... It is brought refined from there and is carried by way of Yndia to Portugal, where each ba[r?] is worth six [maçes?] seven conderins.

The ship will carry, moreover, two hundred or three hundred picos of cotton thread. It costs seven taes per pico delivered in Macan, and is sold in Xapon for sixteen, seventeen, and eighteen.

It will carry three thousand çangalas [i.e., pieces of buckram], which are pieces of cotton, most of them white, while the rest are black and in colors. They cost various prices, the large pieces costing twenty-eight taes per hundred. It is sold in Xapon at fifty and fifty-four taes per hundred. These çangalas are made of cotton. Those from Lanquin [i.e., Nankin], which are half cotton and half raw silk, are worth one tae three maçes per piece of ten varas. Other smaller ones cost twelve taes per hundred in Canton, and are sold in Xapon for twenty-three and twenty-four. The red ones cost eight and one-half taes, and are sold for sixteen and seventeen taes.

The ship will carry one hundred and fifty or two hundred picos of quicksilver. It costs forty taes at Canton, and fifty-three delivered at Macan. It is sold in Xapon for ninety and ninety-two, and at times for less than ninety.

It will also carry two thousand picos of lead, at a cost of three taes per pico delivered in Macan. It is [309] sold in Xapon for six taes four maçes, and the money doubled.

It will also carry five or six hundred picos of tin. I do not remember its buying or its selling price.

It will carry about two thousand ranquels of crockery-ware at the very least. These goods are bought in Canton at many prices, and the money doubled two or three times in Xapon.

It will carry one hundred picos of rhubarb, which costs two and one-half taes, and is sold for five, thus doubling the money.

It will also carry one hundred and fifty picos of licorice. It costs delivered in Macan three taes per pico, and is sold in Xapon for nine or ten taes per pico, thus tripling the money.

It will also carry about sixty or seventy picos of white sugar. It costs fifteen maçes per pico, and is sold in Xapon for three and four and one-half taes. However, little of it is used, and the Japanese prefer the black. The latter kind costs from four to six maçes in Macan, and is sold for four, five, or six taes per pico in Xapon. It forms an excellent merchandise, and the ship will carry one hundred and fifty or two hundred picos of it.

The captain of the ship will ask, for carrying the silk, ten per cent; and in order that the freight on [310] the remainder of the merchandise may not be raised, five hundred dead taes are given him, besides sixty picos sold at its value there per pico. That which is sold, and all the bulk of the silk that is unsold, and the five hundred taes are given him beforehand; while on the other merchandise mentioned above he is given ten per cent.

It will carry about ten or twelve thousand pieces of silk damasks and taffetas of all shades, bought at different prices. The common price of the fine pieces of damask is five taes, and the very fine, six and seven; and the pieces are four varas long. There are also some at four taes. These damasks are also sold at various prices. The greater part of them are sold among the natives. The same is to be said of the pieces of taffeta as to their purchase and sale.

It will carry three or four picos of gold, bought in the manner aforesaid. A profit of eighty or ninety per cent is also made on this among the natives.

It will carry five or six hundred picos of wrought and unwrought brass. The money invested in this is doubled. It is used among the natives.

It will carry six or seven picos of musk, which is used by the people of the country. The money will be gained once and a half over.

It will carry one hundred picos of quicksilver, which will gain seventy or eighty per cent.

It will carry five hundred picos of vermilion, which will gain as much as the quicksilver. [311]

It will carry two or three [hundred?] picos of sugar, and the money will be gained once and a half over.

It will carry one or two thousand picos of China-wood, the money invested for which will be increased two or three times.

It will carry two thousand picos of brass bracelets, which cost five taes six maçes, and seven taes per pico delivered in Machan. The money is doubled. They are used in Bengala.

It will carry about two hundred picos of camphor, which goes to Portugal.

It carries a considerable quantity of earthenware of all sorts. The money is gained once and a half over.

It carries a great number of gilded beds, tables, and writing desks.

Much fine colored unwoven silk. It costs eighteen and nineteen maçes and two taes per cate. Some of the gilded beds are generally sold for three or four hundred cruzados. It carries many coverlets worked on frames; canopies, bed-curtains, and hangings; short cloaks of the same handiwork, made by the same Chinese; besides other trifles, and many gold chains exquisitely wrought.

The Portuguese pay duties at Malaca of seven and one-half per cent on the merchandise which they carry from China, without selling or unloading anything in that city.

They pay two or three thousand cruzados at Zeylao [i.e., Ceylon] for the support of the garrison [312] stationed there. For that purpose two or three fustas go to the ship and take it, in spite of itself, to the port, whence it does not sail until it pays that sum. The reason given by the captain of that fort is, that the viceroy of Goa discounts that money from the duties. The same is done with the ships which come from Bengala, as well as from all other parts from which it is necessary to pass that island (which is the island for cinnamon) in order to get to Goa. They pay eight and one-half per cent at Goa, both for entrance and for clearance; and the same is true at Malaca, going and coming to [India?] But they do not pay in [Macan?] because they return thither.

When the ship sails from Goa to China, it carries silver in money and in wrought pieces (as I saw), of these two or three thousand; ivory, velvet from España and other places, and fine scarlet cloth [grana]; one hundred and fifty or two hundred pipes of wine; about six other pipes of oil; also olives, and capers. One is surprised at the cheapness of these things in Machan since they are brought from España to Goa, and thence to China, a distance of more than one thousand leguas. What most surprised me was to see that a cuarto of wine is worth one real, which is about its worth in Lisboa. A jar of oil at eight or ten reals, or at the most twelve, is worth at Machan when it comes from España five, six, or eight pesos per botija, counting eight reals to the peso. A cuartillo of wine at four reals, is sold at little or nothing. The Portuguese say that they do not care to make their principal good in China, but to invest in China, as their interest lies in the investment.

Ivory is sold to the Chinese at fifty taes per pico for the white and even ivory. It is understood that this [313] must be in exchange for other merchandise, and not for money or silver; for silver that enters China does not go out again except in merchandise.

Velvet costs six or seven cruzados per codo in Goa. The codo is a palmo less than our vara. It is sold among the Portuguese at Machan for seven or eight taes, according to its quality.

Grana costs five or six cruzados per codo at Goa, and even seven and eight.

A pipe of wine is generally worth forty or fifty cruzados at Goa, and the fine and good wines ninety-five. However, the latter is not taken to China; and that of the first-named price is sold in Machan, where it is worth eighty or ninety cruzados per pipe.

One million of gold and upward enters China yearly through the Portuguese alone.

The Portuguese pay anchorage at Machan according to the beam and length of their ships, and whether they enter light or laden. The length is measured from the mizzenmast to the bow, and the beam from edge to edge. According as the ship is larger or smaller it pays. The [standard of] measure is one caña, and so much is paid for each measure. Consequently, a ship of three hundred toneladas will pay three or four thousand taes of silver. The Portuguese formerly paid the said anchorage in brasil-wood and in other merchandise which they carried; but for two or three years past they have had to pay it in silver. They do not like that as well as the other method. If, perchance, the ships have to lay up for the winter, even if they are the ships of the inhabitants of Machan themselves, they have to pay without any remission. [314]

Memorandum of the retail selling prices of wares in Canton

The merchandise brought by the Portuguese in their ships from the districts where they trade and traffic is as follows.

First, they carry from Malaca to Goa a great quantity of cloves, nutmeg, and mace; also tin—which is the finest that is obtained from those parts, and which they also carry to China, for the tin of that country is not so fine. They carry tortoise-shell and many pearls.

From Zeylao, a great quantity of cinnamon, the finest of diamonds, and other precious gems.

From Bengala, abundance of very fine cotton; quantities of sugar and rock sulphur; and a quantity of rice—for which, if it were not for Bengala, Yndia would suffer.

From Moçambique, ivory and brasil-wood.

From the kingdom of Pegu, they carry a quantity of fine lac in loaves, and other things.

From Siam, excellent silver, and arquebus-balls; much and very fine benzoin; almond cakes; a quantity [317] of oil of ginger, and of cocoa, and brasil-wood; lead; and a quantity of rice.

From the kingdom of Champa is brought the abovesaid wood, and it is even finer than that of Conchinchina. They carry another kind of black wood from which the Chinese make certain little sticks one cuarto [i.e., one-fourth vára?] long with which they eat. This kingdom has nothing else [to trade].

From Cambay, they bring the finest incense that [318] those districts furnish. It is worth three taes per pico. They bring it from Far, which is Arabia the Blest [la Felice], and also from the island of Samatra, which the Portuguese call by another name Dachen.

From Timor, white sandal wood, which grows in no other part, while they bring the red from Santo Tome.

From Borney they bring camphor, which is the best which is usually found. It passes in its own kingdom weight for weight with silver. They also bring a great quantity of wood of the same tree for tables and writing desks, and it is very beautiful and sweet-smelling.

From the islands of Ternate, Tidore, and three or four others, the spice of the clove.

From the island of Banda, and from other islands, nutmeg and mace. From the same island they bring certain very beautiful birds which have no feet or claws. They have a very long tail with very beautiful feathers, and resemble young herons.

From Xapon a great quantity of silver; [abundance?] of tunny-fish; certain catans (which resemble cutlasses, and are very large), and daggers wrought very richly in gold; and other things.

All the old books of voyages of eastern countries contain much on the buying and selling prices of various commodities. See especially the notable Hakluyt Society publications.