Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1807-10-14

that OF a sugar estate, consisting nov mere
Ky of land and negroes, but OF buildings of
great extent aud cost, necessary for the Car
rying on of such manufacture, and sub
ject to various aud peculiar risks and viciS-
STUDIES, is not less than ten per cent.
During the period of prosperity, previ-
Gus TO 1900, il stated, that IN general the
profits did nor exceed that sum; and tina :,
from that period, they have gradually di-
mnished TO two and "a half aud one and a
half per cent. till at the present moment,
there is no return of interest whatever
1t may perhaps be right to notice one ex-
Cepton, namely, of an estase most favora-
bly, circumstanced in every respect, where
the profits are stated to have amounted,
during the four years 1875, 1896, 1897, and
1898, to IL per cent but they appear also
To have declined ever since in 1901, 1902,
1903, and 1900, to have been reduced to "a
bout per cent. and in 1906, to about 8 per
cent and subsequently, to have suffered a
still further reduction.
In the course of their investigation of the
Situation of the planters, your committee
thought it right to ascertain whether it
might not be in their own power, in many
instances, to remedy the evils of their stu
alton, by converting their sugar estates to
other more profitable cultivation, but the
Al
conversion must be attended with so
great sacrifice of capital, as to be out of
the question as a measure of relief.
Vita view to the prospect for the frI-
ture, they have obtained u return of the
quality OF sugar at present in the West In
dia docks from which and from other G.
whence, it appears, that the quantity now
on hand is unusually great for the time OF
the year The crop of last year is also on
the point of coming into the market.
II should not be omitted further to state,
that for many years past, the islands have
almost entirely escaped the natural calam-
tiles (of hurricanes, &c. which have coca
sionally proved destructive 10 the proper
ty in those countries.
In investigating the Causes of that de
preston .of the market, from whence the
whole of the planters distress appears to
originate, the first object which strikes
your committee is, that extraordinary ST.
tuatlon in which he is placed, which pre-
vents him alone lin exception To every o.
ther similar CASEY from UNDERWRITING him
self for Inc increase of drty, and OF other
expenses attending his cultivation, by an
equivalent increase of price 10 the consum-
er. For it appears, that since the year
1899, the duty On sugar has been raised
from 2os. to 27S. and Contingcntiv to SOS
per cwt. the expense OF the estates are cal
culated to have risen i'll many articles so,
and in others above 100 per cent-and the
price has fallen from COS. to 63S. 6d per
cwt. the average of the last eight months
AS it appears obvious, from the above state
IDent, that the duty is heavier than the ar
ticlc can bear at ITS present price, it is sug-
gested that it might be eXpedient, for the re-
lief of the home market, TO extend the prin-
ciple which has been adopted on the con-
tingent increase ofduty from as. to Sos SO
that from the maximum of duty then fixed
on a gross price Of Sos. affording sos. duty,
and SOS. to the planter, the duty should be
thrown back on a similar scale, in proporti-
OIL TO the depression Of the market, till the
price arrives AZ COS gross, leaving eos. (the
original duty to government, and 40s to
the planter or, III other words, reduc-
ton Of IS. OF duty OH reduction of 2s. gross
price, from the average then fixed for the
imposition of the new duty as far as Dos.
IN increase of the bounty on the export
has been also recommended and your
committee are of opinion, that it would at
ford great relief if given as an accompani.
ment TO measures of restriction upon neu
trails, so as to render the expenses on Bri-
tish and foreign produce equal in the TO-
reign market.
! a considerable depreciation in the price
Of rum having also taken place, it has been
suggested, that the encouragement of the
consumption of that article, would be a con-
siderable advantage to the planter. Your
committee are aware that such encourage
= ment has been given to certain extent,
but lift were found practicable to carry that
assistance further, by an increased con-
Sumption IN the army and navy, such a
measure wonld, in their opinion, have very
beneficial effects; or a reduction Of duty
on rum might afford essential relief to the
planter, without loss to the revenue, which
would be Unidentified by an increased con-
sumption of that spirit.
Great, however as are the evils Of the
decrease ofprice and increase of charges,
III does NOT appear TO your committee, that
they are the original causes OF the distress
st the planter, by applying to which alone,
any practicable remedy, he could be more
than partially relieved !; but that the main
evil, and that to which these arc ultimate
ly TO be referred, is the very unfavorable
state Of the foreign market, IN which for
merly the British merchant enjoyed nearly
= monopoly, but where he cannot at present
enter IN % competition with the plgnters,
not only of the neutral, but Of the hostile CO.
lonics. The result of all their enquiries
en this most important part of the SUBJECT,
has brought before their eyes one grand
and primary evil. from which al the others
are easily to be deduced namely, the Ia
eihty ot intercourse between the hostile