145 



The price of sugar has, however, fallen considerably, and like 

 many other things — corn, and cotton, and tea — has been lower for 

 a long period than ever was known before. 



Year ending July 5 



1842 . 



1843 . 

 ISU . 



1845 , 



1846 . 



1847 . 



1848 . 



1849 . 



1850 . 



1851 . 

 Half-year ending Jan 



1852 , 



Average price per London Gazette. 

 British West India. 



37^ 



Od. 



34s. 7d. 

 34s. 9d. 



31s. 



35s. 



3d. 

 3d. 



323. lid. 



24s. 

 24s. 

 25s. 



3d. 

 4d. 

 3d. 



27s. 3d. 

 27s. 3d. 



Mauritius. 



33s. lOd. 



34s. 7d. 



30s. 3d. 



34s. 2d. 



32s. Id, 



233. 3d. 



24s, Od. 



28s. 8d. 



26s. 9d. 



263. 9d. 



Thus, it is equally clear that the fall in the price has been very 

 considerable since 1845, and that in 1849 and 1850 the price of 

 sugar was about lOs. per cwt., or nearly one-third less than in 

 1838. The planters complain of the fall of price ; and the only 

 question in dispute is whether the fall has been occasioned by the 

 reduction of the duties. jN'ow the reduction of duties subsequent 

 to 1846 and to 1851, was, on brown Muscovado sugar, from 13s. to 

 10s., or 33.; and on foreign, from 21s. 7d. to 16s. 4d., or 5s. 3d. At 

 the same time there was a very large increase of consumption, and 

 the price, as of almost all articles, would not have been reduced to 

 the full extent of the reduction of the duties, and certainly not 

 reduced in a much greater degree, had there not been other causes 

 at work to reduce the price. Between 1846 and 1851 freight 

 from the Mauritius fell from £4 Is. 8d. to £2 13s. 9d,, or 35 per 

 cent. ; and that reduction of price was not made from the planter. 

 In the interval, too, great improvements were made in the manu- 

 facture of sugar ; and in proportion as the article was produced 

 cheaper, it could be sold cheaper, without any loss to him. 



I shall now take a separate review of the capabilities and pro- 

 gress of the leading sugar producing countries. 



Production in the United States. — Sugar cultivation, in the 

 United States, is a subject of increasing interest. The demand is 

 rapidly advancing. Its production in the State of Louisiana, to 

 which it is there principally confined, is a source of much wealth. 

 In 1840, the number of slaves employed in sugar culture was 

 148,890, and the product, 119,947 hhds. of 1,000 lbs. each ; be- 

 sides 600,000 gallons of molasses. Last year, the crop exceeded 

 240,000 hhds., worth 12,000,000 of dollars. The capital now em- 

 ployed, is 75,000,000 of dollars. The protection afforded by the 

 American tariff, has greatly increased the production of sugar in 

 the United States. From 1816 to 1850, this increase was from 

 15,000 hhdf:. to 250,000 hhds. 



In 1843, the State of Louisiana had 700 plantations, 525 in 



L 



