694 
THE TROPICAL 
AGRICULTURIST. [April 2, 1900. 
and they, as we know, are master.s of the 
situation both in India and, in the shape of the 
India Council, at liome. The Secretary of State 
may be reckoned on .as being usually in the 
hands of the Council, and the Governor-General 
.IS being in tke hardr of the Secretary of 
State when the adoption of any new policy is 
concerned. Parliament, I need hardly say, is 
absolutely out of the count. 
In conclusion I may remark that nothing 
could (vide p. 464 of " Gold, Sport, and Plant- 
ing) be more certain than that the lirst effect of 
I he currency measure would be a diminution in the 
demand for labour, and if * is did not sooner 
occur it was partly because iii was not generally 
believed, that the Government would persevere 
with its currency policy, and partly to a vague 
hope that the second Currency Committee 
might reverse the decision of the first, for which 
indeed there was some ground as the witnesses 
were nearly all against the policy which has 
been carried out, and a change from which it 
is now hopeless to expect.^ — Obediently yours, 
ROBERT H. ELLIOT. 
THE LONDON COCOA MARKET. 
London, Feb. 23. 
Dear, Sir, — As usual when the new crops of 
Trinidad and Grenada Cocoa first arrive in any 
quantity, the pressure to sell being out of pro- 
portion to the desire to buy, has caused a drop in 
prices, which is unwarranted by the present state 
of the market ; for with a good demand which 
is sure to last, the stocks are very small being 
only 79,203 bags, against 90,435 bags in 1899, 
113,918 bags in 1898, and 139,538 bags in 1897, 
and there are outside influences n«w at work 
creating an exceptionable demand which were 
altogether absent in previous years ; and even if 
the supply this year proves to be as large as 
that of 1899, which it is generally believed will 
be the case, the South African War will keep 
the Government active buyers for another six 
months at least (Monsieur Jean Bloch, the Polish 
author of "The Theory of Modern Warfare," esti- 
mates it will take a year to see the matter pro- 
perly through) and the American and continental 
demand is expected to show as large an increase 
in the coming year's consumption as they have 
done in the past one, which makes me convinced 
that by Ju»e those who are now anxious sellers 
will see the mistake they have made ; for, if 
they do not show a firmer tone than they are now 
doinsr, we shall hare good middling to good red 
Trinidads at 73s and Fine Grenadas at 65s before 
the end of April. As during the last two years 
there has heen a tendency to handle fine Trini- 
dads more judicously, this grade is not likely to 
show a great drop, if indeed they do not go 
higher, as is the case just now, for whilst good 
middling red is now selling at only 78s against 
82 and 82s 6d three weeks ago ; one of the fine 
marks sold last week at 84s 6d against only 82s 6d 
in Jany. Ceylon Cocoa it is true often fluctuates 
independently of Trinidads, being used more 
for confectionery, for which purposes its finest 
marks fetch fancy prices, and also because up to 
(low the bulk of the crop has been sent exclu- 
sively to London, which, forcing the best buyers 
to come together from all ])arts of the world as 
I4ussia, America, Spain, and even Mexico when 
hpi' crop is short, causes a keen competition re- 
sulting in high rates which would never be 
qljtained :if she sent her cocoa to every market 
UQ^Qr the sun that buys it, as Trinidad is so fond 
of doing, and which is a great mistake, for not 
only does it, as I have already said, prevent buyers 
coming together in one common centre, but the 
cocoa is often shi])ped entirely to one buyer who 
having it all to himself squeezes the prices down to 
the utmost limit he can before he forces the owner 
to ship it elsewhere, and sell at a betterrate 
At the sales this week 6,783 bags of all growths 
were offered including 419 Trinidads, 1896 
Grenadas, and 800 Ceylons. Of these tlie Gov- 
ernment bought 214 bags of Trinidad at 78s and 
78s 6d, 167 bags of Grenada at 693 to 70s and 76 J 
bags Machala Guayaquils at 73s 6d. The sales 
went off with good demand at slightly lower rates 
for Grenadas, and Dominicas, for out of 2,500 
bags offered 1800 bags sold ; Grenadas at 65s 6d for 
common to 71s 6d for fine, and Dominicas at 65s 
6d to 67s. The Ceylons nearly all sold. (707 
changed hands at the sales) at 68s for native, 
62s 6d to 60s 6d for smalls — 70s to 77s for mid- 
dling to fair — and 80s to 86s for good to fine red. 
Since the sale the demand has been quiet as there 
is expected to be big sales next week. The 
West India mail had nearly 4,000 bags of Trini- 
dads alone, which they are trying to get up in 
time, whilst of Ceylons the cocoa by the " Duke 
of Buckingham" and if possible by the " Awa 
Maru" will be offered. 
The receipts from Guayaquil are still large, 
and up to now in excess of last year's, being 
36,710 quintals since 1st January against 26,400 
quintals last year, and 33,000 quintals in 1898. 
Cocoa butter is firm : sales have taken place at It 
5fd and Is 6d is now asked. — Yours truly, 
HAROLD HAM EL SMITH. 
TEA: LONDON CHARGES ON. 
Kandy, 27th Feb. 
Sir, — I herein enclose copy of letter receiTed 
from the Secretary, Ceylon Association in Lon- 
don, on the subject of the reduction of Bulking 
and Taring Charges in London. — I am, lir, yours 
faithfully, A. PHILIP. 
Ceylon Association in London, 61, and 62, 
Giacechurch Street, E.C., 9th Feb. 1900. 
A. Philip Esq., Secretary, Planters' Association, 
Kandy. 
Dear Sir,— Referring to my letter of 26th ult : 
I beg to forward copy of a second letter from 
the Tea-clearing House Con:mittee, dated 5th 
instant, from which it will be seen that for the 
present it is not proposed to make any reduc- 
tions except in respect of the Bulking and Taring 
rate. — Yours faithfully, (Signed) 
Wm. Martin Leake, Secretary. 
Tea Clearing House Committtee, 21, 
Mincing Lane, 5th Feb. 1900. 
The Secretary, the Ceylon Association in 
London, 61, and 62, Gracechurch Street, E.C 
Dear Sir,— Referring to my letter of the 23rd 
ult. I am directed to inform you that the re- 
duced Bulking and Taring charges therein set 
out, have now been confirmed and will apply to 
all teas bulked and separately tared on and 
after the 1st March next. 
This alteration is a considerable reduction and 
the Committee trust it will enable the Importers 
to make desired arrangements with the Trade 
in respect of the taring of the teas. The Com- 
mittee, however, regret that in view ob the 
heavy expenses pressing upon their trade they 
aie unable at present to make further altera-' 
tions in the rates. — I am, dear sir, yours faith- 
tally. (Signed) Geo. T. Pocok, Secretary. 
