New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-05-14
!. 1853. sl4, S3s 1888, 6o5, 400

In the four months, March-June inclusive, the
imports in both the preceding years were more
than half the imports for those entire years, out
this wear they have been 1,243,00O.OOO IN two
months. against S24,OO0.000 last year. Inc
known heavy movement in May thus far war
rants the expectation that fully two-thirds OF
years supply may be in hand by the end of the
four months this year. including what stocks
rehners held prior to March, ana on 'h'S
ouan+ity the difference in price, If as much as
the proposed increase in duty under the senate
bill. would be about cight-tenths Of cent or
$4,000 600 q handsome profit for the owners
namely, the Sugar Refining Company. The pay
ment of duties nj the present rate on about two
thirds of a years consumption will deprive Inc
Treasury of about as much revenue for the
coming year which il would have derived from
the increase of rate Under the Dingley bill the
increase in rate on 81 degree raw sugar would
be little less. about seven-tenths of cent. but
the imports after April would be subject 10
the higher duty. which would make difference
OF nearly S5,OOO,OOO for the month OF April
alone.
Many calculations Of the effect Of different
duties proposed are entirely in error, because
they are based ON the reported domestic cost OF
raw and refined sugar. The ad valorem duty
of course applies only to the cost at the point OF
shipment to this country, which averaged on
dutable cane sugar 1883 cents for eight months
of the fiscal year. The dutiable sugar I'M
ported, according to the latest records OF polar
iscope test averaged little below % degrees,
but At that figure the rate under the Senate bill
would be ST OF cent and 70 ad valorem,
namely. 35 per cent on cost OF 2 cents, making
1.57 cents, not including the special rate on
sugar from countries paying bounties on ex-
ports. Refined sugar Mt the Senate rate would
pay 1.16 cents and 35 per cent, which on sugar
costing 26 cents abroad would be OF Of cent,
moking 2O7 cents. The average value Of re-
fined sugar imported varies from month TO
month; in April it was only 1857 cents per
pound; in March, 2.424, but in eight months
ending with February. 2.5S2 cents. But most
Of it comes in at n higher rate being from
bountypayng countries.
1t is essential in judging Of the effect Of the
duties proposed in the Senate bib TO observe
that an additional duty is provided on all
bounty-pnid sugar equivalent TO the rate OF
bounty or benefit actually allowed TO the ex-
porter. Precisely what that additional duty
may he cannot be stated. but whether it Is as
much as .3S OF cent per pound, as some ex-
perts have testified or not as much, in any
cnse it suffices to cOunteract any advantage the
exporters from such countries may gain by ship
ping refined instead Of raw sugar, and any dis
advantage to refners in this country in conse-
Qucnce Of such bOunties. 1t is therefore an
error to say, as some do that the rates pro-
rOsed on refined sugar must be fully half cent
higher than the rate on raw in order to defend
the industry here against the effects of German
bounties. 1t has ample defence in that respect
in the special provision named.