The Maryville times. (Maryville, Tenn.) 1884-1944, 1898-02-26
AS TO SUGAR AND WOOL.
Anticipatory Importations Pro-
duced an Excessive Supply.
February Imports VIII Have
Reached Normal Figures and Gus
toms Revenues VIII Increase
.. in Corresponding Ratio.

The following brief but significant
statement appears in the New York
journal of Commerce of December
1.-The sugar trust was purchaser of raw
sugar in the local market yesterday for the
first time since July last, buying 1900 tons
| muscovado, 50 degrees. at 3ss cents, and
| $3.50 bags of molasses sugar, 50 degrees, at
3s cents. On July 26 the trust bought $4,000
tons"
The meaning of this is plain. 1tmeans
that at last the sugar refneries are
reaching the last of their vast accumu-
lations of raw sugar brought in free of
duty under the Wilson tariff in antici-
patton of the duties levied under the
Dingley tariff. Sugar is again coming
into this country in large quantities,
and by the end of the present fiscal
wear, while the actual amount of sugar
imported under the Ringley law will
be less than the amount imported in
the corresponding part of the last fiscal
year under the Wilson law, the revenues
will be greater On the other hand,
the next calendar year will show an in
creased importation and revenue ut
least double that under the Wilson law.
The monthly statement of the bureau
of statistics at Washington, just issued,
shows that the total imports of dutiable
sugar for the month of October amount
ed to S2,99S,954 pounds, valued at 49,
| 643,613. This is an increase of nearly
73,000,00O pounds over the amount of
sugar imported in September. The
statement shows that the backbone of
the dullest season in the history of
sugar importations has been broken;
that the enormous reserve stock of
sugar that was rushed into this coun-
try last spring and in the early summer
in anticipation of the increased duties
under the Dingley law is at last becom-
ing exhausted. 1t was the smallness
of the sugar imports since the Dingley
law went into effect last July that the
opponents of the law have used as a
basis for their outcries, saying that the
great increase of the duty would keep
out sugar, and thereby the law would
fail in its purpose. Absurd as this argu-
ment was, it found believers, and they
have been making the most of it ever
since.
When it became an assured fact that
| new tariff law would be passed and that
the duties on sugars, raw and refined
would be materially increased, import
ers started in to buy up all the foreign
sugar in sight and get it into the coun-
try before the law went into effect. As
a result of this, when the new law went
into effect in the last of July there was
d surplus stock on hand amounting in
round numbers to 900 tons. 1.-The to-
tai importation of sugar in year
amounts to about 100000 tons, so that
when the new schedule took effect there
was six months or more supply on hand.
| The heaviest importations of sugar
are in the early summer months, and on
August l there is always a very large
stock of sugar on hand, averaging
| about 100000 tons, so that double the
usual stock was in this country when
the Dingley bill became law. Sugar
imports dropped from an abnormally
| high mark at once to the lowest point
known. Consequently the revenue fell
off in proportionate degree, thus
giving food to the anti-tariff howlers.
1t is estimated that fully one-half Of
the enormous surplus has been used up,
and the rest of the stock of sugar is be-
| ing consumed at the rate of about 81 900
tons week. As the normal surplus
stock for the United States is about 200,-
600 tons, it is calculated that by Febru-
airy / importations will have reached
their normal average. Next year is ex-
rected to make great showing in
sugar imports. An authority in the
| customs service says:
II estimate the revenues from sugar
for the calendar year of 1898 at about
100000. The increase of duty is not
going to make the least bit of difference
in the amount imported. The United
States produce only about one-seventh
of the amount they need. The rest
must come from abroad. With an
average duty OF $1.54 per hundred
weight against SO cents, and withcoun-
tervailing duties against bounty-sup-
ported sugars, THE difference in the
price TO the people will not amount to
| more than one-half cent a pound.
The country is constantly growing, and
with it the consumption of sugar must
grow. The countervailing duties will
La 10 10 no +a,,
part of our beet sugar comes from Ger
many, and the counteryailing duties on
that are 3S cents hundred pounds on
refined and 81 cents on raw. Under the
old law it was ten cents on both. With
the exhaustion of the present stock of
sugar importations will soon reach
their normal value. The coming cal
endar year will show fully what the
Dingley bill can do"
1mportations of raw wool are also
rapidly recovering from the stagnation
which followed the new tariff legisla-
ton, and already 7,124,231 pounds have
been imported at Boston, New York and
Philadelphia during October. The total
importations at Boston were 2,395,239
pounds, of which 1,964,632 pounds were
| third-class wool. The New York i'm
portations during October were 3,61s,-
$50 pounds, of which 3,599,21O pounds
were third-class. The Philadelphia
importations were 1,110,112 pounds, all
third-class. The total of 7,124,231
pounds is more than twice the totals
during August and September, after
the new tariff took effect. 1t is less
than the importations during the more
active months of previous years, but is
/ ,,,nra thor 80 +ba ~, ~ a. fro,,, Tuno