Blackwood's Edinburgh Magazine, Vol. 71, No. 438, April 1852Various
History
Blackwood's Edinburgh Magazine, Vol. 71, No. 438, April 1852
Various
England -- Periodicals; Scotland -- Periodicals
the common and low brown sorts."
With respect, then, to that portion of the supply of sugar derived
from the West Indies, the only question which can arise is--Can the
grower have succeeded during the past year in reducing the cost of
production so far as to have allowed the _Gazette_ _average_ of
British plantation to fall from 29s. 2d. nett in February of last
year, to 20s. 2d. in the February of this year? We know that during
this period no economising of labour has been achieved to warrant a
decline of 9s. per cwt.--nearly thirty per cent; and the conclusion
is obvious, that the bulk of this saying to the British consumer has
come out of the pockets of the colonial proprietor and the British
colonial merchant. The price at the commencement of the year, it is
admitted, was a barely remunerative one; and every shilling of
reduction since has been positive loss.
With respect to East India sugar, which is actually purchased in the
country of its growth, the loss has fallen directly upon the
importer--the fact being notorious, that prices throughout the year have
ruled higher in the colonial markets, and in China, Java, &c., by from
4s. to 5s. per cwt. than it could be sold for on its arrival here.
Messrs Littledale & Co. quote the prices of Bengal, Madras, and
Mauritius, best and good descriptions, in bond, from 6s. to 6s. 6d.
lower in January this year than in January last year, and common and
inferior descriptions as much as 8s. to 9s. lower. Upon China and
Manilla the fall has been from 3s. to 4s. 6d.
The same authority to which I have before referred--the _New London
Price Current_--remarks of Mauritius sugar, that the "rates are 5s. _to_
8s. _per cwt. lower_, the difference being most apparent on brown and
inferior qualities;" and of East India, "Stock is 6950, (in London,) and
in 1850 it was 5500 tons. _Prices range_ 4s. _to_ 8s. _per cwt. under
that period_, the difference being more apparent on brown and inferior
qualities, of which there is a loss upon importation."
Public-domain text, read in full here on John Shaqi.
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