32 4 
HISTORY OF THE [book vi. 
Hitherto, I have spoken of the drawback on raw 
sugar only. I am now to shew that my observa¬ 
tions apply equally to that which is refinedj by 
proving that what is called the bounty, is but little 
more than merely a modification of the drawback; 
the money allowed beyond the original duty being 
an allowance not more than adequate to the loss of 
weight in the raw commodity for which the full du¬ 
ties have been paid by the importer, and the loss of 
interest thereon, between the time of the payment 
thereof, and the time of the receipt of the bounty, 
visions ; but with regard to the regulations of the drawback, &c. the 
case is widely different. By this law it is enacted that “ after the 
year 1792, whenever the average of the prices of brown or muscovado 
sugar (to be taken weekly upon oath before the Lord Mayor of Lon¬ 
don, and published in the Gazette) shall exceed, in the six weeks 
which respectively precede the middle of February, June, and Octo¬ 
ber, the amount of fifty shillings per cwt. (exclusive of the duty) the 
drawback on raw sugar exported is immediately to cease for four 
months, and the bounty on refined is to cease during a like term, but 
commencing after an interval of one month. Such is the outline of 
this act, on which what I have already said in the text, is perhaps a 
Sufficient comment; yet it may not be improper to take some notice of 
the great argument which was urged in support of the measure in the 
House of Commons ; namely, that it was formed on the model of the 
corn trade system. But the corn trade laws, though designed to re¬ 
duce prices, are also contrived to encourage production. They there¬ 
fore check exportation when the prices are high, and gi-ve a bounty 
on exportation when the prices are low. If the sugar bill had been 
formed on the same principle, and had been meant to keep the price 
of the commodity at a fair medium between the public and the plan¬ 
ter, it would have reduced the bounty when above the standard, and 
either raised the bounty, or taken off the home duty when below it, in 
such proportions as to keep the balance even. In its present shape the 
act operates wholly against the planters. 
