The herald., 1896-09-03
MARKETS OF THE WORLD
Local, Eastern and Foreign
Commercial Dealings
=.
WALL STREET SPECULATION
Reciprocity Between the United Ststes
and Canada '..
Flax Culture In Britsh Coiumbia-rhe Sugar
Markets Of the Worid-changes In the
Local produces 1arksts

We notice that Hon Mr.. Laurier's refer
ence In hisspeech at st. Johns, near Mon
I, treal. to the trade policy Of the new admin
istration is attracting attention in Eng
land. 1t is remarked that reciprocity with
the United States such as prevailed in Can
ada between 1855 and 1866 is to be one item
OF the government program. The expecta-
tion OF securing this is said to be one of the
reasons on account Of which the revision
of the tariff Is to be deferred. That treaty
went into effect In March, 1855, and was ter
minated by the United States government
In 1866. on the ground that at was no longer
for the interest of the United States to
continue the same in force.'
On the one hand some interests in the
United States. especially in the eastern
states. claimed that the fiscal policy of
Canada had been made contrary to the
reciprocal spirit oi the treaty; and on the
other hand 1t was felt in Nova Scotia and
New Brunswick that fair consideration had
not been given for the access to Canadian
fisheries.
During the treaty of reciprocity the to-
tai trade between Canada and the United
states aggregated $G44, 500, 900, of which s497.-
ooo,ooO or " per cent, were duty free. OF
this n per cent the United States secured
4S.S per cent, and the British provinces 31.2
per cent. Since the period Of reciprocity
the percentage Of free trade has been 50,
n
and Canada 1876.
=, According to the Canadian Statistical
4 ear Book the United States secured the
greatest advantage of the freedom of trade
during the existence of the reciprocity
treaty while Canada has secured the ad-
vantage since its abrogation.-British Co.
Iumb1a Commercial Journal.
The paper last quoted says of fax culture
In the province:
oMessrs; s; c. Furlow. H. M. Richardson.
mess men of Rochester, have sown 14O acres
OF Belgian seed and are now employing
some some twenty persons IN pulling it up by the
women pulled seventeen and one-half acres
IN six days. The seed of the flax will be
threshed out and the flax will then be SUBJ
Jected TO the rottfng process. A small por-
ton Is already being rotted, which means
that 1t Is placed under water until the
Efummy r. my part rots away and leaves the fibre
IN III condition to run through the fax mill.
me max fibre brings from 5000 to $500 per
ton and the tow. from 500 to s14O, so that If
tne dnot t6eeigian esrs SEED produces as good pro;
be paying one for Rochester. The fibre
mill is said, to. be the most perfect yet in
Vsntea, ,st and there Is no reason to doubt
capacity from $1,000 to $1,000 viii be spent
every year among the citizens of Rochester
for their labor in this connection.
Speaking of the sugar market the London
Daily News says:
The result is that natural reaction has
same level as they we're a Yea Year az ago. '0 While lie
this is so, however. the position Of the arti-
Gle diners materially. European stocks are
only about &c, 900 tons smaller in spite Of the
lighter beet crop, which, according to lat
sst returns, amounted to 4.31o: 900 tons. In
season, and the fact that the state have
taken some 250. 900 tons more from Europe
than they did last season. but the visible
supplies are smaller by a like extent owing
to the lighter stocks in America and Cuba.
Last year at this time we were looking for
ward to reduction in the European yield.
production of 100000 tons, which, while
constituting record growth, also shows
an inc ease of nearly 600 900 tons on the
production of the season Just ending. The
insurrection in Cuba still RACES, but the
spanish troops. though making slow, are
making steady, headway against the in
surgents, and under the most adverse con-
sugar may be grown in the coming as in
the present season. The European boun-
ties have also been increased, while the
tax in consumption on the continent is like
" to be restricted and expectation stimu-
lated which means that we are likely to
campaign. II, too. with the European yield
fully 5C0, 900 tons less than in 1s94-5, and Gu
ba producing 750.0 900 tons less, 1t has only
been possible to reduce visible supplies by
some 250, 900 tons, the question arises. What
Is to he done with the extra 100000 tons
Europe is to produce in the coming season?
Even allowing that during the past six
growing countries. and that, therefore,
during the coming campaign she will be
more dependent on Europe than in the past,
1t will be necessary that the Cuba produc-
tion should not exceed the present season
if the statistical position is to be improved.