Dear Mr. Bergstrom: Thanks for your informative response. This is why I like this ListServe. Experts can provide quick, clear, and concise answers to a variety of questions that would take some of us days to research. I had a student ask about this practice once, and I did not have the complete answer. Now I do--thanks! John Selby Peter Bergstrom wrote: > There were two types of tobacco marketing employed in Virginia during the > colonial period. > > The older method -- the consignment system -- which you have described below > predominated from the early 1600's through about 1730. > > The second method -- usually referred to as direct purchase -- had the > planter sell his crop directly to an English, or more likely Scots merchant > in Virginia. This merchant or factor then handled all the arrangements and > assumed all the risk for getting the tobacco to it's ultimate market in > Europe. As you might expect, the planter usually got a lower price for his > crop it he marketed it via direct purchase, but the upside was that he had > his cash or credit in hand at the moment of sale. > > As to literature on this topic, I must suggest my own book on this subject > as one which describes both methods and their impacts upon the Virginia > economy in detail: > > Peter V. Bergstrom, _Markets and Merchants: Economic Diversification in > Colonial Virginia_, (New York, 1985). > > I'm sorry to say that it is no longer in print, but it is available in most > university libraries. > > > -----Original Message----- > > From: Janet Hunter [mailto:[log in to unmask]] > > Sent: 24 April 2001 8:01 AM > > To: [log in to unmask] > > Subject: Colonial Tobacco Exports -- Risk/Liability > > > > > > I was recently provided some information that suggested that > > when a colonial > > VA tobacco grower/plantation owner "sold" his crop for export to a > > merchant/ship captain/factor he was not in fact selling it > > but giving it to > > that person/company on consignment. The actual "sale" would > > not occur until > > the tobacco reached the ultimate purchaser in Europe, for example. > > > > Until that time, the tobacco grower was still considered the > > "owner". Thus > > if the ship went down, he would lose and not ultimately be > > paid for his > > tobacco. For the smaller tobacco grower, in particular, this > > seems to me > > like a very risky situation when they were dependent upon the > > cash from the > > tobacco sales. I would have thought there would be > > enterprising businessmen > > in VA willing to buy tobacco outright there, and thus assume > > the risk for > > themselves (or for another party) for the transatlantic > > voyage and reap the > > ultimate profits. I do realize that if the grower did sell > > on consignment, > > without another middleman, he would stand to reap greater profits. > > > > I have been looking for confirmation of the information > > provided me, so far > > unsuccessfully, in Virginia/Colonial Chesapeake history books. > > > > Do any of you have any thoughts on whether the information I have been > > provided above is an accurate? > > > > Thank you in advance. > > > > Best Regards, > > Janet (Baugh) Hunter > > > > To subscribe, change options, or unsubscribe, please see the > > instructions > > at http://listlva.lib.va.us/archives/va-hist.html > > > > To subscribe, change options, or unsubscribe, please see the instructions > at http://listlva.lib.va.us/archives/va-hist.html To subscribe, change options, or unsubscribe, please see the instructions at http://listlva.lib.va.us/archives/va-hist.html