The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1874-05-05
STOCKS oP SUGAR IN EUROPE APRIL I.

\ IN UrSb lduOb.A
The imports of sugar at the same places, for
643, 900 cwts against 3, 76S, 600 cwts for the
| same period OF 1873. Undoubtedly,
these large accommodations Of the
IqEef nulTwo STAPLE ARTICLES
OF groceries are due, to a large extent to the
commercial depression which, since last
summer has fallen alike upon European d
America. The general necessity for economy
in expenditures has contracted the consump-
ton of sugar, so far as it may be used as a
luxury and the same causes have operated
on coffee, partly by inducing an enlarged
consumption OF cheaper articles and partly
by lessening the demand for the pure article.
Much as both these articles may seem neces-
sary to the comfort ofthe breakfast table, yet
in hard times they are the very irst to show
| the effects ofeconomy, The very poorest have
to dispense with them: and the large masses
] who may still be able to continue their con-
sumption use them more sparingly. And
this contraction of consumption il all the
more certain to take place when. in addition
to the influence of a general depression of
business, a short crop has put up the price of
the articles; as has been the case in respect
to coffee. When Rio coffee rose to 29A cents
in this market on the short crop in Brazil,
nothing could be more certain than that, on
the one hand, supplies would be attracted
from other points, and that, on the other, the
consumption would be severely curtailef
and hence 1t is not surprising that, within
three months af.er the rise, the price has
fallen TO 24K cents. Yet there were those
who eagerly bought coffee at 40 per cent.
above its present price and imagined they
saw a fortune in those figures. What we
have recently gone through in the COTE
market we my apparently see repeated In
the sugar trade Reports from Havana in
dictate some probability of a short crop in the
Spanish West Indies. How far these re-
ports may be exaggerated to benefit Cuban
planters we do not just now pretend
10 say; but there are those In this city who
appear TO regard the rumors as sufficient
reason for an advance in the price of sugars.
1t may be well toT such to remember what
has been our experience in coffee A year
ago Rio coffee ofthe grade sold at 10 cents;
he prospect of a short crop induced specu-
ation which put it up to 80 cents; now, the
price has fallen to 81 cents, but not before
the high price had caused preparations in
Brazil which are likely to give us this year an
extraordinary crop, with the consequent
probability of still further decline in the
article.
INTERNATIONAL COMMERCE.
Some interesting statements are made by
the Railway Review. Careful statistics have
been prepared of our foreign commerce,
while those appertaining 10 the much greater
interests ofinternal trade seem to have leen |
almost wholly and in some cases inten- !
tionally ignored. Even the census reports,
which purpose tocontain an inventory of
the property and business of the people, and |
which in some matters descend to the minu-
test DETAIL are silent with regard to the bill.
ions of dollars represented by railways, ships
and other instruments of internal transpor-
tation, and to much greater value of COM
modities moved by them. The value of COM
noditias annually mOvad bv roads i'm 1872 is
estimated at over 10000, 900 900, and their
gross receipts reached the enormous sum of
S473, 24l ,055. The commerce of the cities of
the Ohio river alone has been carefully esti-
mated at over one billion six hundred mil
lion dollars per annum. Some conception
of the immense trade carried on upon the
northern lakes may be found from the fact
that during the entire season of navigation
10 1872 an average of one vessel every nine
minutes, day and night, passed Fort GratiOt
lighthouse, near Port Huron. 1t is proba-
by safe to say that the value of our internal
is 10 times greater than our trade
with all foreign nations, and that the
amount annually paid for transportation is
more than double the entire revenues OF the
government. Cheap and ample facilities
for the interchange of commodities
between the widely separated section
of our country and with foreign nations,
constitute the prime conditions of national
progress and prosperity. BY reason OF the
failure Of existing systems OF transportation
to fully meet these conditions commerce is
impeded, agriculture languishes. labor is
inadequately rewarded, food is unnecessarily
taxed, expectations are diminished, and
nearly all the most important business in |;
terests of the cauntry are depressed. Hence
the most important question now pressing
for solution is, ,"How shall cheaper and
better facilities for transportation be pro-
vided?" ..go9 ~
fa Il