The amount of merchandise transported to Santa Fé each year, is set down at its probable cost in the Eastern cities of the United States. Besides freights and insurance to Independence, there has been an annual investment, averaging nearly twenty-five per cent. upon the cost of the stocks, in wagons, teams, provisions, hire of hands, &c., for transportation across the Prairies. A large portion of this remaining unconsumed, however, the ultimate loss on the outfit has not been more than half of the above amount. Instead of purchasing outfit, some traders prefer employing freighters, a number of whom are usually to be found on the frontier of Missouri, ready to transport goods to Santa Fé, at ten to twelve cents per pound. From thence to Chihuahua the price of freights is six to eight cents--upon mules, or in wagons.
The average gross returns of the traders has rarely exceeded fifty per cent. upon the cost of their merchandise, leaving a net profit of between twenty and forty per cent.; though their profits have not unfrequently been under ten per cent.: in fact, as has before been mentioned, their adventures have sometimes been losing speculations.[A] --GREGG.
[A] Those who are familiar with Mr. Mayer's very interesting work on Mexico, will observe that a portion of the preceding table corresponds substantially with one presented on page 318 of that work. In justice to myself, I feel compelled to state, that, in 1841, I published, in the Galveston "Daily Advertiser," a table of the Santa Fé trade from 1831 to 1840 inclusive, of which that of Mr. Mayer embraces an exact copy. I have since made additions, and corrected it to some extent, but still the correspondence is such as seemed to require of me this explanation.
[137] With a view to encourage adventurers, the government of Chihuahua agreed to reduce the impost duties to a very low rate, in favor of a pioneer enterprise; and to furnish an escort of dragoons for the protection of the traders.
The expedition was undertaken chiefly by Mexicans; but one American merchant, Dr. H. Connelly, having invested capital in it. I obtained from this intelligent gentleman a very interesting sketch of the adventures of this pioneer party, which I regret that my plan will not permit me to present in detail.