Letter – Christopher Blackett to Thomas Richard Beaumont – 24 Dec 1806

Tho[ma]s Rich[ar]d Beaumont Esq MP				N[ew]Castle 24th Dec 1806

Portman Square 	London



Dear Sir 

      I have received Mrs Beaumonts letter of the 20th Inst, and observe Mr Bown’s remarks on the Contract made with Mr Row, which shall be strictly attended to. I hope an actual time for the payment may be specified in the Deed; but I believe it will not be found in my letter on the subject that I gave reason to respect it. I believe it will also be seen by this letter I allude to, that I did no[t] recommend even your consideration of the measure proposed by Mr R[ow], otherwise than in reference to the present state of the Lead trade. Mrs B[eaumont] by the advice of Mr Cockshutt acceded to the Measure, and empowered me to close with Mr Row by return of Post. I am sorry to trouble you for an explanation of a Sentence in Mrs B[eaumont]’s letter, but it appears highly necessary for my Character & Credit that I should know precisely what is meant by it. The sentence is, ‘We have lately heard that it is supposed our Lead is not to be sold under 38 & 39 – how this Idea can have originated, I cannot conceive, but we are the losers whatever may have been the cause’ 

      I wish to be permitted to ask Mrs B[eaumont] if she ascribes to me such an declaration; and if she does, - from what motive it is supposed to originate. – I should also feel thankful if I might be informed who the party was that threw out such Insinuation. I think this is due to me, & hope it will not be refused. As to the remarks upon the state of the Lead trade supposed Combinations etc; I can only say that it is not surprising to those who understand Commercial Concerns that Buyers should go to the Cheapest Market any more than that Sellers should endeavour & wish to get as high a price as they can; - but if the price between Buyer & Seller is to hinge upon the Sales of others or antecedent Bargains; it follows of course there never could be any Variation. Variations in price originate in two Causes, - the first is demand: - the second – Supply. If the former is greater than the latter, an advance necessarily takes place & vice versa.-

	I believe on a reperusal of my letters for many Months past, you will find an uniform opinion entertained that the supply would exceed the demand; and I am sorry to say that such, my idea, is too fully realized:  as to the idea of any discretion being exercised by me in the Sales of Lead, I think I gave a full & explicit answer to that when we met at Horsley; and I never to the last moment of my life shall forget the remark that was made upon it.

	As the price by the Sales to James & Co & <L/W>B & Co is now settled at £37 & £38 (except in the instance of Refined only being taken, which waits your determination) . I beg to be informed what I am to charge Easterby & Co for their Monthly supply. I send enclosed a note from Mr Loraine stating the Mode of settlement required by them for the next Pay, which I desired him to give in writing that no misunderstanding might arise when the Money is wanted.

      I am etc 		CB