The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1866-08-25
For the Pacific Commercial Advertiser !

lFot Ir EaCliC lhtI NtIls
Ma. EDITOR IL have read your comments upon my letter
to the planters with interest ami noted your exceptions to my
figures. They are taken in part as you suppose from :" Brooks
4 Co.'S CIRCULAR OF May 18th, and 1 doubt not are in the
main correct. ! have only taken round numbers approxim.t-
ing the amount, and the figures Of the Mercantile, so far from
being opposed to my deductions, confirm them most conclu-
sively. They demonstrate clearly the surplus which remained
uncal-d for and uncousumed in 1865 beyond what actually
imported into the country in that year. Every pound Of sugar
taken into San Francisco is taken there for sale and consump-
ton in the country. The agents, likewise business men, store
their sugars in the L. s. bonded warehouses, for storage must
be had somewhere, and it is as cheap there as It would be in
private warehouses, aud it is drawn out as fast as sold to con.
suners; besides, the duties de not have to be paid whilst it
remains in store, and the interest is thus saved to the planter.
Also. If any can be exported thence TO any better market. it
can be 20, without prepayment of duties. But in the present
case no other market but Victoria offers for such a transaction,
and that We account as a par: OF oar market, and estimate its
consumption as 4 part OF the consumption Of our products.
The fact then tIst $500 600 lbs. entered the Custom House
Of san Francisco in 1865, whilst during the same period only
% 600 900 TBS. were drawn out, show. that the supply exceeded
the demand by more than l4,ooe, 900 OF pounds, and th, sur
plus was No, wholly drawn out and all the entries cancelled
till Mag. In 1865 only about 100000 Tbs. were exported from
San Francisco. probably to Victoria. Our purchasers are no,
cane-sugar producers, they depend for this article on foreign
Countries, consequently all must pass through the Custom
House, snd it is stored in Government warehouses as a simple
measure Of economy. The fact that only about 100000 lbs.
were reeIported to $4,000 600 entered for consumption shows
that it was a very exceptional transaction and could form no
part OF the object Of the agents in storing in the bonded ware
houses. tT. 4 n Iabsnp u FEtNlFFNftl'i u ou" axe ninety
seven years 10 equal one year of withdrawal for consumption ;
besides. l have never heard one exporter. in sending to san
Francisco. Portland Or Victoria. express a thought OF rec ypor-
ta,iou from those markets for a better. aui l, as one. have
neyer entertained such a thought The circumstances forbade
il. These figures then in connection with mine. establish ny
main position far better than mine alone could have done.
They demonstrate clearly that there ga a surpu' in the
market and very nearly its amount, awaiting tie demand for
its consumption. and that one-ihiri OF the year was gone before
the amount was exhausted. whist continued imPorauons.
added to it. kept the market buriened and forced down prices
k hy i p. g SsRaa@r !, we'll III as "a sho oSsa g.-i R Pr sGe ~ !S or 'a aaIssn al
state. Thu. amount I think is very nearly correct.
Mhafhsr the measures proposed. Will secure The end desired.
will depend much upon the eFte"' to shieh planters are shnins
end. fr II will not relieve the market For them generally 70
do il and the rehaers - cooperate With Them, VII secure the
object II II can be sseu'rd at al, short Of the reaIiug 20
produce a large percentage u the present production, Ivy
planters or redners or both. I cannot fr : moment doubt TIA
an equitable arrdngemsnt vail benefit both parties BIZ
sucs an ar,Ingenenf, the price would b regulated from time
better grades the redner could advance the price in his rur-
chas-s- As to increase q quantity. l should not rely upon
ai,s.- stmethins Of the Kind. 6u, there viii be an Important:
- i, ,Gr cantEiperS suh>,ftntirc Ia : for -. even n il hzs
You say &c the price will advance when the present surplus n
san Francisco works or, which cannot take many months"
Most certainly ii will, but when viii this be, . the stream
which aovs in l. continually larger than that which flows OUT II
the production rises from -o,uyoVvo % -SVvovovi anu o,her
sources do not fsl, the surplus will increase, instead % dlnln-
Of population or depression OF prices or both shall stimulate an
L cannot see that the dealers have been indisrrec;. The
supply sent into the market has exceeded tic demand. ami Il
was certainly better to sell on The be-; terms possible. than 70
h6gl. psying Interest. storage and insurance. without a prospect
%: doing better. Had there been a prospect o. ne sgrrly
hcug exhausted it would have been Wis 10 hold for better
prices, hut this wNs contrary TO fact Our real Hst,'n' for
fault 70 hnd with our agent Under the state 81 things / ;ftnk
1t has been sound policy to sell, aud l can see no evidence q
judging FROM the figures, the rcGncS. in vicU doubles, - an
anticipated o'er'tork. have Only ordered about THREE ahhsCt
less upon the low market which they expected Tor the balance
I ai.S have canairncc in the production Of sugar. Il has
become one q the uccessaS7rs-ouc q the great staples Of life
~Sn a aaaP,cd. to il. prSinction. vii undoa6,rijy Seon,nue in the
main to ,uPpy is natural market. and HAT market to 'nr-
gold in return but even the necessary staples Of Life have no