SUGAR INDUSTKY IN UNITED STATES. 55 



eiied by the extra yield of wheat, thus diminishing the 

 average price of bread, and the sugar i*esulting would 

 furnish to the laboring man an article now considered 

 by him a necessity, and which would have been beyond 

 his reach in a few 3'ears to come. 



Any new and successful industry springing into 

 existence in a country is likely to be overdone ; as 

 capitalists are only too glad to find, as they imagine, 

 a good investment for their money, and, as they are 

 numerous, they do much harm to each other, bringing 

 about financial failure, resulting from an over-produc- 

 tion. 



This has been the case with iron, coal, oil, etc., and 

 at the present day they do not bring the price per ton 

 01" gallon they did when the first iron was manufac- 

 tured or coal mined or oil discovered. 



If several large beet sugar factories be started, and 

 these prove profitable, there will be hundreds of others 

 built, and numerous failures resulting from the same ; 

 the sugar thus produced would be far in excess of the 

 demand, and but two solutions w^ould remain : a fall in 

 the value per pound, or an export of the sugar. 



On the other hand, if we consider that there are few 

 countries where this could be shipped — Bi'azil largely 

 supplies the South American market, and Continental 

 Europe is independent, the same can be said of China, 

 etc. Here are great points gained in favor of beet 

 sugar, but there remain to be mentioned several others, 

 the most important being the increase of the yield per 



