Page 205 - Merchants and Mandarins China Trade Era

191.

cial tie was one of the factors that allowed Russell & Co. to

expand into the most important American commercial establish­

ment at Canton. The house, furthermore, had the services of

one of the partners of Baring Brothers as its own special

agent. Joshus Bates, before he joined the London house, had

married into the Sturgis branch of the "Boston Concern" and

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therefore became related to many members of Russell & Co.
Through Bates and Baring Brothers, Russell & Co. in

1
the 1830 s developed an even larger trade with England. Bates
provided information on English markets and connections with

English manufacturers. The financial house provided credit

for American merchants to finance the cormnercial ventures

undertaken by Russell & Co. After the dissolution of the East

India Company's monopoly in 1834, Baring Brothers also advanced

credit to Chinese merchants for investment. These Hong mer­

chants in turn sent cargoes of teas and silks to England con­

signed to Bates and his partners. Throughout all these trans­

actions Russell & Co. profited as consignee of the cargoes sent
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to Canton. By the mid-1830 s the American house had expanded

its connections with English merchants and manufacturers so much

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Joshua Bates married Lucretia Sturgis, first-cousin
of William Sturgis of Bryant & Sturgis. Bryant & Sturgis were
intimately connected with J. & T.H. Perkins in Boston and with
Perkins & Co. in Canton. The same was true for Russell & Co.
1
in the 1830 s.
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Letter, A. Heard to S. Russell, May 8, 1834, Heard
MSS. Letter, T.H. Cabot to S. Cabot, Oct. 31, 1834, Samuel
Cabot MSS. Letter, J.M. Forbes to J. Bates, Nov. 25, 1835,
Forbes MSS.