Page 249 - Merchants and Mandarins China Trade Era

235.

earlier, in 1823, Yrissari & Co., an Anglo-Spanish house in

which James Matheson was a junior partner, had despatched the

brig "San Sebastian" up the coast as far as Chin-dhew (Ch'uan-
44
chou) with orders to open a trade in opium there. The voy-

age was successful and was repeated. Soon rivals in the opium

trade despatched vessels on coastal voyages.

Cushing carefully watched the development of the coastal

trade in terms of its benefit for Perkins & Co. He wrote back

to Boston that the attempt of the English "has succeeded we

understand much beyond their expectations. . They are said

to have had well rect ireceipi7 at all the places they visited.

II Cushing proposed that the Perkins send out "a small

swift vessel" for the American trade. He argUE�d that "with

one of our swiftest sailing American vessels of an easy draft

of water which would allow them to work close to the Coast &

Islands we have no doubt the operation would be done in one­
third of the time that has been required & by enabling those

concerned to calculate the time with correctness they would

be enabled to make their arrangements with the purchasers at

the different ports without risk of disappointing them as to

time & when confidence is once established there is no knowing
'
'
I
b
h b
to w h at extent t e usiness may e carrie . ' 45
d
Eventually the competition in the English coastal trade
cut into the profits realized by its originators. American ob-

44
Greenberg, British Trade and the Opening of China, pp.
137-38.
45
Letter, Perkins & Co. to J. & T.H. Perkins & Sons,
Nov. 23, 1823, Perkins & Co. MSS.