Mr Goschen and the Tea Trade.

Te Aroha News, Volume VII, Issue 480, 14 June 1890, Page 3

Mr Goschen and the Tea Trade.

Messrs Summers and Roe write to an English paper ‘ The Chancellor of the Exchequer in his Budget speech has, unintentionally perhaps, cost a slur upon a large body of traders when he stated that the tea sold" in many villages at 2s. to 3s. per lb. costonly lid. to Is., including duty. It is true that very common tea can be bought on the Mincing-lane market at per lb. in bond, making lOid. with the present duty added, but this reaches the public at a retail price of Is. 2d. to Is. 4d. The great bulk of tea consumed in England is at present retailed at 2s. per lb., und this costs the retailer Is. 6d. to Is. Sd. per lb., the mean profit being 5d., or about 20 per cent., which is not an excessive profit considering the labour and expense involved in its distribution. Had the Chancellor consulted any firm of brokers or wholesale dealers and examined their stock books, be would have seen that China teas range in price from 4£d. to Is. 3d., and Indian and Ceylon teas from Bd. to Is. lOd. per lb. in bond. Exceptional quality of both kinds commands still higher prices, but unfortunately the demand for this class of tea is very limited. With regard to the present mode of distribution, speaking withavery wideexperience, we are convinced that the public is well served by the great body of retailers in the country, and that the idea that exorbitant profits are common is fallacious. It would be a great misfortune for the revenue and for society in generul if the trade were still further centralised, to the prejudice or extinction of a large hardworking and most useful class of the trading community in the person of the retail shopkeeper,’