Papers Relative to the Tariffs

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1828 Excerpt: ...by water, a distance of about 300 miles, worth, per ton, six dollars--__.._-.-450 oo Commissions on sale and all other charges at New York, worth 5 per cent------337 50 $ 6,330 oo Cr. By 75 tons of iron in the city of New York, worth, per ton, 90 dollars 6,750 oo. Balance $ 420 oo In the operation above detailed, the business indispensably requires nearly the whole time of one proprietor in procuring the materials, keeping the works in operation, supplying the workmen, teams, &c. with necessaries, marketing the iron, &c. &c. in the course of which business considerable personal expenses, as well as time, are in-curred, and this item would be estimated much lower than its value at------------500 oo The capital invested in the water privilege and dam, may be fairly estimated at 2,000 dollars; the interest upon which, at 7 per cent per annum, is----------140 oo The capital invested in the forge, machinery, coal houses, and bloomer's houses, may be set down at 2,000 dollars; which, considering its perishable nature, ought to pay at least 14 per cent, but I willliere carry it out at 7 per cent-----___ 140 oo $ 780 oo The bloomer's house is usually furnished by the proprietor, without rent. By real loss upon superintendence, and simple interest upon capital-360 oo By the above balance brought down-----420 $ 780 oo This loss is, and can only be, made up to the proprietor, by the fact that he is a farmer, or a merchant, and by the sale of his produce or his goods, at an ordinary profit, to pay his i/, mis, and for his stock and team work he may be reimbursed." Question. How long have you been engaged in the business of making bar or bloom iron, and when did you abandon that business '.--Answer. I sold out my interest in the establishment last May. ...