The Sun.
London, England, 1839-09-02 00:00:00

PRICE OF SUGAR.

EFFECT OF MONOPOLY.

Table showing the ex-duty price of West India Sugar,
in Mincing Lane, and comparing the same against that of
foreign sugars sold in the same market:—
London, August 31, 1839.
The Gazette of last night quotes the average Per Cwt.
price
of British Plantation Muscovado Su-
gar, exclusive of duty, at
t n
sTheon actual
account quantity e
importers,sol d i n t
on
the week ek
which
the endingab
above
price 27 t
h
iis computed, consisted, according to the brokers' estate-
ments, of 1,336 hhds. 97 trcs. and 26 barrels, and not of
1,700 hhds., as estimated in the market.
Our comparative statement of prices remain the same
this, as in last week.
The deliveries of West India sugar from the bonded
warehouses of this port were—
Hhds.
From the Ist Jan. to the enddoiftto 4
Aug.
784:416455
From ditto
From ditto ditto 1839... 60,177
In 1839, 24,268 hhds. less have been delivered than
in 1837 ; and 13,988 hhds. less than in 1838.
The deficiency in the delivery of 1839 hes accrued since
the /st of May.
At the end of Aug. 1837, the stock was 21,621
Ditto 1838 ditto 36,111
Ditto 1839 ditto 34,330
The stock of Mauritius sugars exceeds now that of last
year by 26,534 bags; and of East India sugar 31,941 bags.
We are happy to have it in our power to announce that
the arrangements made by the Board of Trade, permitting
ferrign sugars to be refined in this country for exportation,
arc progressing with much success: there are already five
refineries in London, besides many at the outports, ex-
tively engaged ill this trade, and rumour states that other
sugar houses are being prepared for this description of
work. The number of hands actually employed in these
refineries is considerable ; but these are not near so nume-
rous as those engaged in the trades which are subsidiary
to the refineries. It is computed that for each pan kept
at work throughout the year not less than a sum of 4,0001.
is expended amongst the following parties, namely, the
coal merchant, the copper smith, the iron founder, the
cooper, the mould and pot maker, the plumber, the car-
penter, the paper maker, the carman, the 'letterman, and
various others, a disbursement which, while it materially
assists some of these trades, and entirely keeps others at
work, has breathed a spirit of activity throughout the Tower
Hamlets ; and let it be borne in mind that this branch of
business is entirely maintained by foreign customers, who,
in the price they pay for the refined sugar, reimburse our
manufacturers the costs alluded to above—and which,
besides aiding the working classes in the vicinity of the
refineries, confers on this nation important commercial ad-
vantages, for the foreign raw sugar brought here for the
purpose of being refined is, generally speaking, the return
cargo for the manufactures of this country ; that is to say,
the sugar is given in payment for Manchester, Birming-
ham, and other goods made by British industry. The
larg, r, therefore, the quantity of foreign sugar imported,
the larger the quantity of British manufactures exported
in exchange for it. Thus the industrious classes not only
derive the benefit arising from refining the sugar here, but
they d. rive profitable employment in manufacturing the
articles which are shipped in payment for the raw sugar.
Moreover, Great Britain acquires the advantage of draw.
ing against foreign nations for the amount of the sugar
re-exported in a refined state, which tends to alleviate, as
tar as it goes, the demand for gold occasioned by the ex-
isting Corn-laws. The refiners compute that in the first
y ear of their operations they will
.manufacture and export
about 25,000 tons, and that in the second year that weight
will be extended to 40,000; taking, however, the smaller
weight, 25,000 tons, and each ton to be worth
30/ , we find that this country will be privileged to draw
bills for 750,00e1 against foreign nations. In esti-
mating the value of these transactions, we must riot omit
to mention the freight, which, to a maritime country like
ours, is surely of extreme importance The number of ships
of 300 tons Lurthen—required for the conveyance of
25,000 tons of sugar to, and from our ports, will be one
hundred and sixty-six—taking into consideration the
length of voyage most of them have to traverse, these 166
ships will be fully engaged six months, consequently there
will, supposing the retinieg trade not to increase their
work beyond 25,000 tons, which they surely will do, be per-
manent employment for eighty. three ships of 300 tons each
—an increase to the shipping trade which will doubtless
be highly prized by that interest.
As samples of the refined produce of the Foreign Sugars
may be daily seen in most of the Refined Sugar Brokers'
sale rooms, the people at large, by comparing the same
against the refined produce of the West ladia Sugar, will
gradually, but practically, become alive to the truth, which
we have repeatedly set before them in a tabular form,
namely, that 20s. per cwt. are paid by first hands, which,
allowing for the costs of distribution in fair profit to the
retailer, becomes 3d. per pound to the consumer more for
British Plantation Sugar than it is actually worth ; and
they will also perceive that this indirect taxation of 3d,
per lb., which amounts precisely to the duty levied on
Sugar for the public service, is extracted from their
pockets, for the sake of favouring West india interests.