I was just wondering, the "since the beginning of time" real-world analog for a Free Trader has been the Tramp Steamer but I wonder if the better analog is actually that of a Semi-Truck? Thoughts?
I did some research on 19th C shipping manifests at NYNY and Atlanta GA... until the telegraph crossed the atlantic, most bulk items shipped from the UK are speculative. Many are sold on the docs ("Sold FOB") and often listed as owned by the shipping company.
below 4 weeks comm round trip, but above 1 week round trip, mixed speculation and freight.
Above 6 weeks, almost pure speculation save for passenger-owned freight.
Below a week comm lag, almost pure hired freight.
Ship's manifests list the owner of the items in the holds...
Note that freight can be affordably moved much farther than one might expect in CT or T20, but the long term capital tie-up makes non-vertical-integration freight inflexible and beyond most companies risk tolerance.
The issue is the locking down of funds for the duration from order to receipt, and of warehouse...
The standard mode today is to call/email/website the supplier, make payment by electronics, and it goes in the post or courier service, to be delivered usually within 14 days.
But, in the days of the telegraph, the catalog arrived via mail (up to a month after sent), and if on telegraph net, you're wire an inquiry, get a response in 0-2 days with current price and available number, and then telegraph the order, and if the local telegrapher was part of Western Union, "wire" the money, and it ships. If you were brave and could afford a couple fees, you could get the catalog and send the order and payment without prior contact. Either way, you'd know in under a week whether or not you got any.
Prior to that, ordering remotely tied up money for much longer, as without the telegraph, even checks were a problem... You basically had to send a factor/representative to go order in person, with cash, and then they often came back with the shipment...
Traveller presumes a reliable but slow comm. A single jump away, catalog by email, with a week lag from send to receive; a day or two to order, another week for the order to get there, and another week before you know if you will be getting a shipment within a week or two. If you have an inquiry, add another 15 days - 7each for jumps, and 1 for the research. If you can afford a minimum 2 week lag from order to arrival, usually 3, it's often worth it timewise.
Now, 2 jumps. Catalog is 1.7-2.3 weeks old upon arrival, A day or two to decide the order, 1.7-2.3 weeks via email back. A day for them to figure out if your order is fillable, notice 1.7-2.3 weeks later, and arrival up to 2 weeks after that (loading and layovers). so, from receipt of catalog to arrival of order is between 3.6 to 6.6 weeks, and you wont know until 3.4 to 4.6 weeks whether or not your order was fillable. If you refuse to commit funds blindly, add another 3.4-4.6 weeks... and add the warehousing expense that the supplier is likely to charge for holding it for 2 weeks. so that can be 6.8 to 11.4 weeks... and it's likely that a separate hauler per jump can add a week or more...
At 3 jumps, it's 5.1 to 6.9 weeks for catalog, and again for order, and again for notice, and up to 3 weeks downtime... so you won't know if the order was fillable until 10.2 to 13.8 weeks afer ordering – that's a quarter year and some – and 2-3 weeks more to get it there, assuming that it makes all the transfers in a timely manner... but if it's a separate hauler for each jump, that can add another up to 3 weeks of taken quickly, more if it languishes waiting for a ship. So money to goods is 10.2 to 17+ weeks... a third of a year. The time factor can, for items that are not stable demand, result in 10 weeks since money and finding out the order was rejected, and the wire transfer back is reduced by the cost of that wire transfer. The opportunity cost will massively reduce orders at that range save for luxuries.... And if you need a consult first, it's adding another roughly 3 weeks round trip plus your decision time, and possibly holding goods from inquiry receipt until 6 weeks after receipt. The hassle factors at both ends mean slightly higher but closer sourcing is fiscally more responsible.
The odds of a snag go up with distance, too.
So, again, 1Jx? mixed. 2Jx? mostly spec, some freight. 3Jx? almost totally spec or constant carry items.
Note that X is not always set by TL; if the ships can't make a profit at Jx at the specified price, then they're only going to speculate... because the 3I seems to dictate the basic rate... (otherwise, freight and passengers should be treated just like cargos and the Actual Value table,..