The Sun.
London, England, 1848-01-01 00:00:00

Whereby it is also to be observed, that among the
European ports from which. these importations took
place, were also some German ports—as, for instance,
Bremen, whither the goods had been imported
directly. With regard to some of the articles enume-
rated, we must make soine,..further observations ;
thus, we must remark, relative to the apparently un-
favourable proportions of the imports of tobacco, that
of the 7,000,0001b5. placed under the head of in-
direct importations ;• the greater part, or about
5,000,0001b5. came from Bremen, into which port it
had 'been imported indirectly ; and. that further a
part of it was Russian and came direct from Russia.
'The apparently. still greater disproportion in the
imports of rice, is to be attributed to some particular
temporary conjunctures ; as a general rule, the pro-
portations .are very different ; for, in 1844, the
direct importations of rice into Hamburgh amounted
to seventy-five per cent., and in 1843 even to
ninety-three per cent. of the whole amount of this
article imported. The only article the relative pro-
portions of which are really unfavourable is cotton,
of which more will be- said hereafter. Further de-
tails are given in Table'VllL, and in Table VIII. a
and /containing a recapitulation of the former, and
in addition to Which we may here notice that the
value of the total amount of importations from trans-
atlantic ports, was declared at the Custom-house to
be 36,880,200 marks banco, 'and that the goods that
were entered for immediate transit only amounted to
the value of 3,129,700 marks banco. The remainder
was thus entirely for account of the Hamburgh mer-
chants, who cannot, therefore, be reproached with
having neglected Germany's immediate relations with
distant regions. •
What has been said of Hamburgh is equally appli-
cable to Bremen. According to the statement in the
April number of the " Handels Archiv," relative
proportions of
,the direct importations to the tot 11
amount of importations into that port, amounted in
1846 to—
Tobacco 92 per cent.
• Sugar .. 90 „
Coffee .

Cotton
Rice ... 80 „
Dye-wobds - 89 „
Raw hides •• 9l ~
Whereby it must be remarked that the imports from
Hambuigh are recktined as direct.
As regards' the Pruisian Baltic ports, it may be
deduced from a complete import table contained in
the January number of the " Handels Archiv," that
in the year 1845, the proportion,of the imports from
the transatlantic and German ports into these ports,
to the total amount of imports, amounted to
Coffee ...... 43 per cent.
Raw sugar 46 ,9
Cotton .... 14 „
Tobacco
Rice ..
• Dye woods .. „
With the exception of rice, of'. which the same may
he said here as was said, when spesking of Hamburgh,
and cotton, of which more is to be said hereafter, the
proportions are not here either entirely favourable.
Besides, it is in the nature of things, that the pro-
portion of these imports in the Baltic ports could not
be so favourable as in the North Sea ports of Ger-
many, and that the former ports should receive con-
siderable supplies of colonial produce from the latter.
We have only to read the memorials which hare lately
emanated from Stettin and Dantzic, to be convinced
of how little benefit there is expected from differential
duties.

In general we see from the above, with regard to
direct trade, that which was made manifest relative
to the shipping interests, namely, that the object
sought to be obtained by artificial means has long ago
been attained naturally and simply by means of free
trade, and that it will go on gradually developing
itself, if left undisturbed under these influences. The
first question; as to whether our import trade requires
the protection of differential duties must, therefore, be
answered in the negative.

(To be continued.)

MARKET INTELLIGENCE.

t From the London New Prim Current of Dec. 31.)
REVIEW OF THE SUGAR. MARKET FOIL THE YEAR
1847.—From the position and proceedings- in the raw
Sugar market in the early, part of:the year, it could not
have been imagined that the disastrous events that after-
wards occurred would have taken place; the supplies
would be greater than for many sears ; that the in-
crease in the consumption .in this country would be
immaterial, contrasted with the (previous seasons, it
could not have been f ,reseen that sugar would he selling
from 20 to 30 per cent. nnder the cost of importation.
These events, however, have actually taken place,
and to the astonishment of nearly every one en-
gaged in this sugar trade. There was much firmness
in the market during the seven first weeks of the year.
From the refiners and grocers an extensive demand was
experienced, whilst speculators were induced to operate
largely in oonsequsnce of the adm,ssion by orders from
ernment of the unrestricted use of sugar in the
distilleries and breweries, and the immense quantity
that would in consequence be required fur that
purpose. There was also a good export demand,
and supplies were moderate ; prices continued to
advance, and towards the close of February we
find that brown Jamaica, which was selling at
the beginning of the year at from 43s to 445 6d, had
risen within that time. to 50s to 5250 d, thus showing an
advance of from 7s to 8s per cwt. After which period
the market assumed quite a different appearance; the
demand for all purposes decreased, and supplies were
upon a more extended scale; prices continued, with a
few intermissions, gradually to give way, and con-
tinued so until the close of April, after which the
decline became rapid, and continued so until the
commencement of December, when brown Jamaica was
sold at 34s to 355. The arrivals,-duringf that period
continued upon an extensive scale from all sugar pro-
ducing countries, whilst merchants were eager sellers,
and continued week after week to press immerse quan-
tities for sale, regardless of the lowness of prices, and
the loss upon the importation. The home trade on the
other hand, in consequence 4 pf the advance in the
rate of discountr, were debarred from balding large
stocks, although the consumption continued to be
of a aaisfactory nature. It would, however have been
• larger, had it not been for. the monetary panic, and
which was the means of -deprivieg vast numbers of
the working populatioii •of employment. The
sugars belonging to the firms that were compelled to
suspend payment, and which were forced upon
the market, also contributed to assist the down-
ward movement in prices. The export demand
has fallen much under expectation, although during
nearly the whole year prices have ruled under those of
the Continental markets. The Government proposition
of allowing the use of sugar in the breweries and dis-
tilleries may be considered as nearly a failure, for it was
calculated when the subject was first proposed, that
with moderate prices the
,quantity requisite would be
100,000 tons annually, and although prices have ruled low
for eight months, yet the quantity taken has notexceeded
12,000 tons, and is a subject of surprise,only to beascribed
to the real properties of sugar mixed with grain being
unknown, the consumption having been confined to a
few small brewers and distillers. There can be no doubt
but that sugar, in connexion with grain, can be advan-
tagesuily used in the process of making ale or porter.
The distillers that are using sugar find it to be to their
advantage to continue the use of sugar. There were
symptoms of improvement in the value a few days prior
to the closing of the market, but any material rise in
value in the ensuing year is not looked for, although
there may be a large consumption, as stocks in
Europe are nearly double of what they were at
the close of 1846, and there is every prospect
that supplies will be as large in the ensuing, as
they have "been in the present year ; indeed, they
will be greater, should the navigation laws be abolished.
The losses upon the importation of sugar into the
United Kingdom this year amount to nearly two mil-
lions sterling. In comparing the arrivals to this port
in 1846, it will be perceived on reference to our annual
statement that the increase-hi West' India is 27,000,
• Mauritius 10,000, Java, Siam, and', Manila 4,400, Ha 7
vannah 12,000, Porto Rico 5,000, and Brazil 8,000 tons
but of Bengal and Madras 2,060' less have been received.
It will thus he seen that, our imports exhibit an increase
over those of the past season of 66,400 tons, but the quan-
tity delivered for home consumption is larger of Colonial
by 1,000, and of Foreign to the amount of 6,000 tons.
Of all sorts the export deliveries'are greater by 15,000,
so that the deliveries for all purposes are greater than
during 1846 by 21,001 s The stock, it must be taken
into consideration, is of Colonial 24,000 and of Foreign
7,000 tons heavier than at the close of 1846. The
trade, however, are scantily supplied all over the coun
try, and it must be taken into consideration that prices
are lower than at that time by 9s to 10s, for West
India, lOs to 12s for Bengal and Madras; 9s to 11s
for Mauritius, 7s to 8s for Foreign East India, 5s to
8s for slave labour. By the weekly averages from the
London Gazette, the highest] aggregate for 1847, 37s
4i-d on the 2d February; the lowest on the 19th Oc-
tober, 21s 6d; the highest of West India 38s 3d, on
the 26th of January, and the lowest on the 9th of No-
vember, 22s 6d; the highest of Mauritius 37s 6/c1 on the
2d of February, and the lowest on the 14th of December,
19s OP; the highest:of East India 39s 2/d, on the 23d
of February, and the lowest on the 9th November was
19s 11d. At the request of several parties interested
in the sugar trade, we publish two statements for the
year—one exhibiting stocks, deliveries, and arrivals in
puns; the other in Ws, bags, chests, and barrels.
REFINED.—There is much demand for refined goods