New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-06
THE Sugar RETINTE.

The third quarter Of the fiscal year has prac-
tcally ended and yet the imports OF raw sugar
do not add 10 Nh, revenue ~ was expected. IN
his letter 10 Senator Harris last August S"cre-
tary carlisle estimated that sugar duties would
Weld tp the Treasury about Si3,oO00OO 4 year.
but This estimate was based upon the con>ump-
lion If the year 1873. and upon the prices Of the
wear 1873 In three weeks Of March the value
II sugar Imported az NcWYork has been
S2177IoG. against SN.9299Ni for the salne
weeks last year showing that tho volume OF
IMPORTS has not as yet approached anywhere
near the volume iu previous years. TINS Is IN
Dart because the stocks purchased before new
,I.i.. went into effect have not yet been c1-
bai,,,l. though IL * evident that large stocks
v,oulI have been brought In befor" THIS umc
n c,u>urIption had gone on at the ordinary rate
and had nearly exhausted the supplies imported
I'm anticipation Of the duties. In part, Also the
yolu. +, reduced because the price has fallen
Tn, average cost # dutlabe sugar imported
I'm February Wis Joss than cents per pound
AGAINST u.lrly > cents abroad in 1893. The year
ON which Secretary Car>lc'S estimate Is based.
The lato,t comparison In The London Econo-
mist shows that West India refining, when
SOLD m rs. 81. April /. 1893 and lbs. April !.
,yciubt As tho duty Is al vaorem. tho fan in
foreign price cuts OF proportionately the r'Ve-
mo which the Government could derive from
imporlaiious Of sugar. If unchanged In quantity.
TN. decline Of about 4 third IN foreign prices
would ~ itself eat of about Sli,0oO,OoO OF the
revenue which Secretary Carlisle expected II
there were no other cause OF loss. But II III
addition there should hc a decrease Of about
quarter I'm the quantity consumed hy the people
~ there has been in some other products. the
revenue derived In fun year would b" only
sci 5no0uu instead Of SI3.oooooo. The diiier-
cnc. I'm this item alone may easily b" greater
than the entire revenue expected from the IN
come taN
TIN, foreign price has fallen greatly that the
cost 10 CONSUMERS here has not yet been on
HANGED as might have been expected by the duty
imposcd. and it Is q natural inference that the
consumption has not yet been reduced as 1t
would have been if the price had risen 10 per
cent. or rs it yet may If prices abroad should
recover Thus il is quite likely that the con
sumption up 10 this time has been more nearly
maintained in quantity than that of any other
product Of universal use. Tho Trust has been
able 10 sell refined sugar manufactured from the
raw imported free OF duty, ana 10 reallZ" some
profit while selling at prices not higher than
were charged a year ago But a great part of
the profit expected by the Trust has been lost,
because the sugar imported free of duty cost
more than the same sugar would now cost duty
paid and the fall in foreign markets has been
such as To make it impossible 10 advance prices
as WAS expected without opening the door to
importations Of foreign refined sugar
1t is not probable. under existing circum-
stances, that the duties on sugar imposed by
Free Traders TO compensate for duties taken off
manufactured products viii yield for the pres
cnt more than about half ~ much as they
pcctcd. This loss of anticipated revenue, with
another To be expected from the decrease in
consumption of whSkcy at higher prices, will
join the shrinkage in other directions to make
the new revenue law Il failure. 1t IS 10 be re-
mcmbcrcd also, that the expectation Of large
receipts from the tax on incomes will be in
measure disappointed it, tile prostratlon Of bust
ness and the depression of prices continuing
merchants and manufacturers should he able
TO report no larger net profits than they have
realized within the last twelve months.