The following extracts, from the circular of a firm of tea-brokers, may at this seaton be of interest to many of our readers. The circular in question has probably been Ton tende, but its sensible appreciation of the reotived by many of those interested in the atate of that trade renders it deserving of of the the bu toa fair trading profit, shippers must give heed to facto calling for a lower standard of cost, as there can be no doubt that until such standard is realized, the result will continue to be as in 1875-76, viz, dissatisfaction and more or less loss as regards most of the shipments of the season, It is said on all sides, that the bulk of the export from China must be shipped first four oF five months, and very largely in the first three; and we suppose this must b accepted as the probable future course of trade. Under such circumstances, the i porter is entirely at the mercy of the consumer, who in represented by the wholesale buyer, and the policy of the latter is the re~ verse of that accumulate in London, he buys from hand-to-Chins. Ax supplies, rapidly mouth, or lowers his offers to a which he feels that his purchase element of safety, and it such an evidently not in China. It is only to be accounted for upon one supposition, viz., that orders and credit facilities are sent out at the commencement of the season upon such an extensive scale, that if the first crop of Congou were twice or even three times as large as it is, there would be sufficient sterling' to pay for, and orders to the teas. The telegraph should bring London sufficiently near to producing markets to enable those who are here to exercise decided and controlling influence in purchases of the first crop, and this would go unduly high by' the excess of orders and credits available for the first crop; but la there any reason why the attention of importers should be so decidedly turned to the first crop of China Congous to the exclusion of von siderations of cost no calculated to affect the range of prices throughout the season? We think that the experience of the past season has only tended to confirm the view s0 often expressed in the reviews of the past few seasons, viz, that with a large and rapidly growing supply of Indian 'Tea, the times When high prices could be safely' paid for first crop China Congous, to be used for home consumption, have passed away; and there la no apparent reason why they should ever return, We venture an opinion, without, however, sufficient data to give it more value than as an opinion, that we are this year beginning to feel the effects of the increased area placed under tea cultivation in India a few yel back; the sudden jump in production leading the belief tat the present is the firat year of picking a large area of new planta: ions. If this presumption is correct, the 1 of increase in the next few years may not be 20 large as that for 1875/76 over 1874/75, It in a noticeable feature, that of 7,800,000-Ibs, ies in the year ending 31st De-ember, 1875, 5,500,000 Ibs. was Indian Tea, Receipt in Zondon frm Chine, 1875-76, Deedinber Steamers 7636-187 ven scclippare 6280218
101,087,090 100,630,626 12 It may occur to some, that portions of the foregoing remarks are almost to other portions of the China tr Gorrespondence,
Text read from the printed page and cleaned; old type leaves the occasional error.