Alexander Historical Auctions
Lot 1
THE ACCOUNT BOOK OF THE FIRST AMERICAN TRADING HOUSE IN CHINA, INITIATING WHAT WOULD BECOME HUNDREDS OF BILLIONS OF DOLLARS IN TRADETHE FIRST TRADE WITH AMERICA: FURS FOR TEA In 1792 the American merchant and shipowner Thomas H. Perkins and his brother James founded the trading firm that took their names in order to take advantage of the newly-discovered Chinese demand for American furs, which could very profitably be traded for tea. In 1798 the firm purchased a vessel dedicated to the China trade, and in 1803 employed their senior counting house apprentice, Ephraim Bumstead (1740-1828), to establish the first American trading office in China, at Canton. John P. Cushing, a young employee of the Perkins brothers, was also sent to Canton to serve as an assistant and bookkeeper to Bumstead. Two years later, Bumstead would die on a return passage to America, and young Cushing would grow the Canton trading firm into a commercial giant. We offer here one of the most historic business documents obtainable, the Canton account book from the first full year of operation of the first trading house directly serving China and the United States - today the largest trading partners the world has ever known. The embossed leather covers of the 9 1/4" x 14 1/2" volume are gilt-stamped "E. Bumstead and Co", and the 200pp. book contains 72 hand written pages from January 26th, 1804 until July 5th, 1805 (the last dated entry). The pages are written in a very attractive, precise hand, undoubtedly that of John P. Cushing who was known for his artistic penmanship, but there are some entries executed in another hand, probably that of Bumstead himself. Accounts listed include "Cash", "James & Thomas H. Perkins", "Ephraim Bumstead", "Poonqua, Silk Merch't", "Syngchong", "Howqua", "Youqua", etc. Many other Chinese merchants and traders are mentioned by name, as are vessels and American traders who were represented by Bumstead. Spine covering is gone, covers worn an extremities, but overall very good with contents excellent. An historic item worthy of research!
