The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1902-08-14
SUGAR DEPRESSION.

Peru is suffering from the depression
in the sugar market. The bulk of the
capital in that Republic is said by Min
| lister l. b. Dudley of Lima to be in
vested in that industry. The output,
however, is by no means as large as
comes from our sugar plantations and
the "riches of Peru" in this direction
seems to be a misnomer. The total an
nual export of sugar is, according to
the authority quoted, approximately
10000 Our total production for the
year 1901 was O,O3S, just about three
times as much as that of Peru. Be
fore the heavy fall in prices Peru, ac-
cording to the same authority, receiv-
ed So, S44, 600 as her income from sugar,
while now the income is reduced to 49,
300 800.
OF the commercial conditions in Peru
Minister Dudley says: Business con-
ditions in Peru today are in unfavor-
able contrast with those of a year ago.
The general prosperity of the country
may be fairly said to vary with that of
the sugar producer. 1t is true that
new channels of investment are being
opened and put to account ty reason
of which this dependence may rapidly
lessen; but the bulk of The capital
certainly 40 per CENTS invested in the
plantations of cane which occupy the
irrigated valleys of the coast. In con
sequence of the decline in the price Oh
sugar during the last year. the indus
try has suffered most severely, and
with it all the allied or dependent in
terests. on all plantations the number
of laborers has been greatly reduced
The Peruvian government has recent
ly appointed a commission TO investi-
gate and report to the Executive on
measures calculated to relieve the dill
ficult situation of the sugar industry
Exactly what the commission is az
pected to do to alleviate the depression
is not very clear 1t is a depression
which does not affect Peru only, 1G-
all the sugar producing countries IN
the world. The cause lies in the over
tries of Europe, and the unhealthy
stimulation of that industry by the
bounty and kartel system. 1t does not
require a commission. to discover thaL
tact, any more than that the depres-
sion in the coffee market is caused by
the over-production of the great Bra
lillian provinces.
1t is well for our grumblers, how
ever, to understand that we are not the
only country that is affected by the
depression in the sugar market. 1t is
also well for them to realize that it is
annexation which has saved us from
commercial agricultural and financial
ruin. In spite of the depression, with
proper management, sugar is produced
here at a profit. Manager Ahrens puts
it at ten dollars a ton. This is moth
ing like the profit made in the past,
but it is profit, and it yields an in
come to the investor and a living to a
vast army of Industrious people. With
out sugar the country would be dead,
and instead of the hum of industry
there would be the silence of ancient
and uncultivated land. Without an
neXation the sugar industry would be
dead, and utter stagnation would brood
over the whole islands. Landed prop |
erty would become worthless, rents
would shrink and disappear, stores
would be closed up and there would be |
no market, for no one would be able to !
buy, Even the small farmer would be
ruined. II is not a pretty picture, but |
all this has been saved by annexation! |
Hawaii should be thankful but few are !
ever thankful to those who have help
ed them to safety in spite of them
selves.