| Description | "Isnel & Martin." (The docket appears to have no relation to the contents.)
As the Discounts on the different kinds of Buttons are varying every Year it is impossible for me to say what the discount may be, & consequently the Birmgm. Warehouse ought from time to time, (as all other Warehouses do,) to enquire of Soho what their present prises, Discts. & Credts. are, and if there is any reson to suspect that any particular House is indulged more than another it is an easy matter to know that by inspecting the Books. For let the discounts or secret allowances be what they may they cannot be conceild & the Agreement between B & S: is that B shall have 7½ per Ct. more than the greatest allowance made to the Factors & that agreement neither B nor S can, shall, or will depart from so long as their present article of partnership remains in force.
But if B chooses to take the ready money dist. he must pay to S in one Month after the expiration of each Quarter for all goods receivd in that quarter By a note or Bill at 2 Mo date which Bill B & S: may either get distd. or may pay it to their Banking acct. kept by Pierson at Soho.
(1st Quarter) .
Hence all goods deld. by B & S: in Jany (1), Feb (2), & March (3), must be pd. for by ye end of April (4) in a Bill at 2 Mo date or in Cash at the end of June & the goods delivd. in the 2d Qr. at the end of Sepr. & all in the 3d Qr. at ye end of Decemr.
But if B: should prefer taking his allowance in time rather than in Dist. He ought to have One Years Credt in lieu of his allowance of 7½ & consequent[ly] the money will be payable as above 1 Yr. later.
As some of the Birmgm. Warhouses have taken the promp pay dist & not paid untill 6 or even 9 Mo. after delivery of the goods I propose to send a letter to each house expressing the present dists. & observing that some Houses take ready money dist. & likewise take a long Credt. and as nothing can be so disagreeable to B & S: as to repeatedly apply for payments They therefore in order to prevent disputes, & to spare themselves & their friends the disagreeable talk of repeated application. Take the liberty of informing them that they propose to adhere to the following Rule in future.
1st What ever time of Credt. their friends may think proper to agree to take whether it be to pay at the end of each Qr. or at the end of the 2d or the 4th Qr. they (B & S) propose to allow one Months Grace for such paymt.
2d They B & S: propose to take off their Invoices the Credt. or the smallest dist. & if the goods deliverd in the 1st Qr. are paid for at the end of it or within the Months Grace as aforesaid B & S: will take off |