May i, 1885.] 



THE TROPICAL AGRICULTURIST. 



805 



lows along quotation from the columns of theCeylonObserver 

 regarding the rapid extension of the tea industry and 

 the advent of a new era of prosperity for Oeylon. The 

 draft prospectus goes on to state that arrangements have 

 been made for the effective and economical management 

 of all the estates until such time as they can be advant- 

 ageously realized, which in the case of Oeylon, if deemed 

 expedient, may be at a comparatively early date. Ar- 

 rangements have been or will bo made for letting the 

 Bank premises at a rate more than sufficient to pay the 

 debenture interest, and so far all looks promising enough 

 but the most remarkable thing about the document is 

 the conspicuous absence of all reference whatever to the, 

 prospects of the Mauritius properties, aud, seeing that they 

 are set down in the valuation at just four times the 

 amount of those in Oeylon, the most casual reader can- , 

 not fail to notice, that, whilst considerable space is devoted 

 to the one, absolute silence is maintained as to the other, j 

 I suppose, however, that this is one of those cases in 

 which silence is golden, because candid speech would be I 

 detrimental. It is obvious that the Oeylon Company's | 

 ostates are not included in the scheme, as was at one 

 time reported. 



Some sensation has been caused in Mincing Lane by 

 the publication in last week's Truth of an article upon 

 the relations between produce brokers and merchants and 

 the influence upon the trade generally of the disastrous 

 losses sustained throughout the last year or so. Whilst 

 it is admitted that there is a certain amount of truth 

 in Mr. Labouchere's assertions and the criticism founded 

 thereon, yet there is a general complaint that the state- 

 ments are far too sweeping and exaggerated and, therefore, 

 unfair ; but after all this is only characteristic of the writer. 

 The brokers especially are up in arms at the unfavourable 

 light in which they are depicted, and you will not be 

 surprized at this when I quote as follows : — "The fact is 

 that the Mincing Lane broker has a good deal to answer 

 for as regards the present state of things. His cry has 

 always been for business, and many a merchant has been 

 led beyond his depth and induced to embark in haz- 

 ardous speculations, by that unscrupulous adviser. The 

 more produce is bought, and the larger the turn-over, the 

 more brokerage for the broker. I do not say that there 

 are not very honourable exceptions, but, on the other hand, 

 there are some whose losses are richly deserved. Many 

 Mincing Lane brokers also act as bankers to their clients by 

 advancing on produce, and that is one of the subtle means 

 which enables them to secure nearly the whole of the 

 business of such firms. Once well in hand, the borrower 

 has to pay through the nose for the accommodation, and 

 the screw can be turned on whenever expedient. Then there 

 is the unfortunate outsider with a turn for speculation in 

 produce. When he falls into the hands of the broker, he 

 is almost certain to be fleeced ; and, although he may make 

 some profits at first, he is sure to be the hiudermost whom 

 a certain wicked party takes hold of." Now, if one sub- 

 stituted stock for produce brokers, there would be a great 

 deal more truth in what is here represented as their modus 

 operandi, though there are a great many exceptions amongst 

 them also. The great bulk of Mincing Lane brokers declare 

 that of late the position has been too often exactly the 

 reverse of that described above, in that they have had to 

 do the work, find the money, and hear the loss, if any ac- 

 crued, owing to the inability of so many operators in 

 produce lately to take up their warrants when the prompts 

 expired or to meet the difference on a re-sale ; whilst, on 

 the other haud, if the ventures turned out successful, their 

 clients pocketed the profits, leaving them only bare broker- 

 age and interest. 



THE PROPOSED INCREASE OF THE DUTY 

 ON INDIAN TEA. 



The Indian Tea Association, with that promptitude 

 which the interest they conserve demands, has sent the 

 following memorial to the Government of India : — 



Sir, — 1 am directed by the General Committee of the ) 

 India Tea Association to inform you that their attention 

 has been drawn to a telegram, dated London, March 

 6th, which has appeared in the daily papers, to the 

 effect that the Timet urges an increase of three pence 

 on the present customs duty of six pence per lb on tea. I 



It is possible that this recommendation may not 

 lead to any practical results, but the Committee would 

 wish to briug the matter to the special notice of the 

 Goverument of India in the hope that, if the Govern- 

 ment should agree with the views held by this Associ- 

 ation, steps may be taken for protesting against such 

 a blow to the tea industry as the proposed increase of 

 duty would undoubtedly cause. 



The Committee think it almost unnecessary to 

 remark that the proposed measure would probably 

 add but little to the price of tea to the consumer, 

 the burden falling principally uponthe producer, 

 whose profit is already reduced to almost the 

 lowest possible point compatible with a continuance 

 of his working. 



The Committee would beg to point out that the 

 present position of the tea industry is such that 

 any further decline in prices would have a most 

 disastrous effect. Prices of Indian teas at the close of 

 1884 were the lowest ever recorded, and though 

 there has been some improvement since then, it is 

 feared that the results of last year's working will 

 show a very poor return on the capital invested. 



It must be remembered, too, that upon the pro- 

 sperity of the tea industry depends the position of 

 thousands of natives of India who are at present 

 employed in the trade, and who would probably 

 be reduced to great privations if anything were to 

 affect the continuance of their employment owing to 

 the closing of tea gardens. 



Looking, therefore, at the probable effect of an 

 increase of the duty, and at the very serious con- 

 sequences that would result to all engaged in the 

 Iudian tea trade, whether Europeans or Natives, the 

 Committee trust that the Government of India may be 

 pleased to do all in its power to prevent the adoption 

 of such a measure. — Indian Planters' Gazette, 



NOTES ON PLANTING AND PRODUCE. 



(From the Home and Colonial Mail.) 



In their circular of Feb. 17th, Messrs. Eeinach and 

 Nephew say of the tea market : — " Whatever may be the 

 future course of the market in general, it stands to reason 

 that with the limited stocks of Congou we are working on, 

 certain grades will become scarce, and will probably show a 

 further improvement between this and the end of the sea- 

 son. So far this firmness has not been caused by any in- 

 creased demand ; on the contrary, the home trade has only 

 been operating sparingly, and owing to the increased duty 

 in Russia, the demand for that country has been consider- 

 ably smaller than usual at this season of the year. The 

 strength of the market is mainly caused by the firmness of 

 the importers who have withheld a large proportion of late 

 arrivals, and only put up a limited quantity of tea at auction 

 without reserve. It is true the arrivals from this to the 

 end of the season will now be very limited, but the bulk of 

 the unsold teas are in a few hands, and this itself constit- 

 utes a certain danger, the trade never knowing at what mo- 

 ment one and the other holder will become a seller, the 

 more so as we are rapidly approaching the time when the 

 chief aim of every one connected with the trade is to have 

 as little stock as possible. On the other hand, there can be 

 no doubt that the statistical position is exceptionally strong. 

 Now that the China season is virtually finished, and that 

 we can gauge the probable arrivals from India within a few 

 millions, we can form a fairly reliable estimate of the stock 

 of old tea we ahall hold at the end of June. If deliveries 

 continue at the same ratio they were last year, we shall find 

 ourselves with a stock at the end of the season which will 

 barely be equal to two months and a half consumption. In 

 ordinary times this would be sufficient reason for a strong 

 market, but when we take into consideration the political 

 situation, we cannot be n.stouished at holders taking a san- 

 guiue view of the future.'' 



A new process of sugar refining, was, according to the 

 Electrician, recently tried in America, iu which the principal 



