, 1892-12-28
NEW YORK LETTER.

HeS0aY the maj hcI OptilSh az OSC' " ~ O0Ss
test centrifugals. and 215hsc. for SO deg. test
muscovados, and granulated at 4ac. long price
(4.6O cen metz
The tone was generally firm and improving
for both raws and refined, but without busi~
ness
Thursday was a holiday. the Thanksgiving
festival Of the year. Friday gave a steady mar
ket for raws and refined, nothing doing in
raws, but a good business in refined. Satur-
dav a small sale Of muscovados was made at
quotations.. Monday, a large sale OF Phil
ippine Islands sugar was made from store at
2aI &c. for Manila superiors."
Refined was tirneT, with increased dem7Ad,
owing partly to the Improvement in your mar
ket.
To-day the market is'quiet and steady, with
ont business in raWs, but with a good demand
for refined. The quotations for both have
not changed for the week, except with a few
Of the lower grades Of refined, for which there
is an extra demand at &c. advance.
The European markets have made no changes
during the week, and there IS really nothing
Of interest to note.
Your State affords the only sensations of
the week. A careful perusal of your issue Of
The 26th produces a marked surprise at the
probable outcome Of your present crop. In
stead Of being, as anticipated hitherto, a
much larger cYop than last years, the IN
satisfactory agricultural and manufacturing
WELD is apparently very disappointing. We
do not, however, take as gloomy a view the
outturn as is made by some reports circulated
here to-day that the to al crop Of Louisiana
will be less than. last years, but if it reaches
100000 long tons it may be all that it Wiz
do.
The other surprise Of the week is in the re-
ports which find their way in the newspapers
from your State, that your planter are IN ia
your Of the abolition of the sugar bounty; and
in favor Of a duty on sugar. We can hardly
conceive that they are ready to rellnqush tF9
benefits of a 2 cents per pound bounty for ths
uncertainty Of / cent per pound duty, which
would lie the extreme that would be placed on
sugar, and even that would give place to free
sugar again the moment the Republicans re-
covered possession of the government. Once
the bounty was lost by the actof Louisiana, 1T
could never be recovered again under a Re-
publican administration.
1t behoove~ your people to think twice be-
fore they give their assent to any such propo'
sal We think that many of your people must
think it best to retain the bounty rath r than
take other chances. but if they think 80 they
are NOT letting the new administration know
ii. an only the views Of the other side, which
We must consider destructive to your sugar
industry, are being spread broadcast over the
land.
The Republicans passed the bounty bill, and
if the Democrats will confirm 1t, as they no
dolbt will with Louisana's approval, II will
stand secure to the end Of its period, and capt
til will enter heartily into the promotion of
the home sugar industry while i the bounty
is lost. and,a duty assessed, the bounty is lost
forever. and the duty is lost, too, just as soon
as the Republicans have their say again.
The assessment, of a duty will prove a
most unpopular move with the people. The
people have been working for twenty-five
Years and more for free sugar, the greatest
necessity Of their daily table, next to wheat
and corn. and now that they have 1T.
thew will keep it. AS for the revenue
thai might b. obtained from sugar, a larger
amount can be had by halving the pension
bin and disturbing the e%quanimlty OF less
than half the people who would be affected by
placing a duty orr sugar. Your State should
analyze. this sugar duty bounty question more
seriously. than they have yet done, and get
ON record on the right side before 1t is too
late. Pardon our DEPRESSION from market
reporting. on which there was so little to say
this week.
Total stock in four ports on t8es 2Srd inst,
80 $50 tons. against S., 703 tons last week and
"a 457 tons at same time last year. Total stock
in all the principal countries at latest uneven
orcAdo tons oUoipst 250 905 tons. at