On This Day: 8 May 1690

On this day in 1690, the East India Company drew up their account with Bowrey in respect of the tea and raw silk purchased from the Company’s ship, the Rochester, the previous March.  He had purchased seven chests and two canisters of tea plus four bales of raw silk at a total cost of £1.384/14/4 (the equivalent of more than £200,000 today).

Only about a year from returning home, this is an indication of the size of the fortune he brought back with him.

There is evidence in Bowrey’s papers that he frequently attended East India Company sales to purchase goods in addition to sending his own ships on trading voyages to the East. Despite this, there is no record of Bowrey owning or renting a warehouse so the logistics of how he traded are unclear. His friend Nathaniel Long is known to have a warehouse and, perhaps, Bowrey made use of this.

 

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