Page:The Economist 1843-08- Vol 1 Preliminary Number (IA sim economist 1843-08 1 preliminary-number).pdf/10

 1836 the duty on East India was equalized, but that on foreign not touched; and the duties now stand:

—a protection to the British colonial grower against the foreign grower and British consumer of upwards of one hundred and fifty per cent. In 1824 we imported—

The duties being as before stated.

In 1840 we imported—

The duties being equalized on East and West India, but still 63s. on foreign. The result is, therefore, a diminished supply of 77,302 cwts., and with the rates of duty very little changed, a loss of revenue of 192,910l.; and it is well worthy of remark that this account would have been a much more deplorable one, but for a little free-trade principle applied in it, viz.: that simple act of justice to our East India possessions so long opposed by the West India interest;—equalizing the duties of East and West India sugar. By looking at the two statements, it will be seen that West India sugar was actually reduced in quantity 1,717,868 cwts.; while East India and Mauritius had increased 771,889 cwts.

We must again pause and reflect. The supply of sugar was 377,302 cwts. less in 1840 than 1824. The population had increased between 1824 and 1840 upwards of five millions, but not one ounce of sugar more for their consumption. The amount of British shipping in 1824 was 2,559,587 tons, and in 1840, 3,311,538 tons; an increase of 751,951 tons, but not one hogshead and not one bag of sugar more to bring home; or if more bags, fewer hogsheads. Docks have increased, warehouses enlarged, but no more sugar to land or stow away. The merchants in Broad street have so multiplied that the drawing-rooms, dining-rooms, bed-rooms, and attics of our ancient merchants have been turned into counting houses for the increased modern numbers, and even that not sufficient, they are pressed into Austin friars and Tokenhouse yard; but among them all, not one cwt. of sugar more to sell. The brokers in Mincing lane, after filling "the lane" from the cellar to the attic, have betaken themselves to the neighbouring streets, but not one additional contract for sugar in a whole year for the swelling numbers. Money has accumulated in Lombard street, but no more bills drawn against sugar to discount, or warrants to advance upon than in 1824. Wholesale and retail grocers throughout the country have multiplied in full proportion to the population, but the same amount of sugar trade is only to be divided among them that existed twenty years ago, and every one connected with the article cries out, there is no profit by sugar; the fact being, that while the quantity has continued fixed, the competition to carry it, to sell it, and deal in it, has greatly increased, and this is exactly the way in which the littleness of the trade makes what trade there is without profit. But the shipowners, the merchants, the brokers, and the wholesale dealers, are so disinterested in the midst of all their crushing and elbowing for the sugar business, that they send men to parliament whose chief and great service is to maintain this fixity of quantity, and prevent a larger business for them.

But this is only half the mischief;—no more sugar coming home requires no more goods and manufactures to be sent out; there is no more work for the artisans, with all their increased numbers; no more ability communicated for the consumption of farm produce, or other articles; no more trade for the export merchant; no more freight for the shipowner, to pay for our sugar than twenty years ago.

Now it is quite impossible to form a precise estimate of what would have been the increase of the consumption of sugar had it been subjected to the same treatment as coffee. We ahve already shown that there is nothing in its character or uses that should prevent a corresponding increase in consumption, but, on the contrary, which would rather induce a greater increase: then, the only other consideration is, would the facilities of obtaining supplies have been as great? The history of the island of Java during that period is perhaps the best reply to the question. In 1826 the quantity of sugar shipped from that island was 23,565 cwts., and in 1841 it had increased to 1,252,041 cwts.; and there we should find upwards of seven millions of free industrious people as consumers of our manufactures, living under the Dutch Government, which would only be too glad of an opportunity of entering into closer trading relations with us. Then we have the whole of the foreign West India islands, and the whole of the sugar-producing South