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The Ashburton Guardian. Magna est Veritas et Prævalebit. SATURDAY JUNE 22, 1889. THE RISE IN SUGAR.

The recent sharp advance which has taken place m tbo price of sugar is looked upon as a serious matter by those who havo to provide for large households, and those who use it for fruit-preßerving, brewing, or confectionery purposes. For a long timo the question was bow can sugar be sold so cheap ? Now it is why is bugar so dear? In 1884 prices reached their lowest point, good beet sugar being then quoted m Loudon aB low as £10, and cane sugar £14 per ton. {Similar qualities would now bo worth somewhere about £25 aud £30 per ton respectively. In JNew Zea land the price of Hue white sugar has risen fitty per cent, or from £24 per ton to £36 per ton, during the laßt fortnight, aud we are told tbat £50 per ton is vow deniai.ded by tbe Christchurch wholesale houses, it is baid m some quarters that the suddeu advance is due to the operations of syndicates who have monopolised stocks, but we have it ou good authority, iv tho files by last mail, that there has been no " corner " m sugar m Europe or America, and such an operation could not be carried out m tho colonies, ihe Sugar Bounties Convention, which is a treaty between Great Britain and certain European countries by which tho latter agree to totally suppress the granting oi bounties on exported sugar, is also said i to have influenced tho market. Thei effect these bounties had on tbo price of ' sugar may be estimated by a consideration of tbo fact tb."&- m tho year 1888 there were .£ Franco £3,380, 000 ;_ Germany, £?,,205,18i ; '"Austria/ £1,0; J ,r>,()o7 ; IMginm, ,£BIO,OOO ; and Holland, £:i0 ( J,(;f)O. The Bounty sys torn practically secured a monopoly oi tho bugar markets to tho Continental beet growing countries named, and consequently ruin befo! the British refiners. Many methods of combatting tho system were mooted, but it was not until the present session of tho Imperial Parlia ment that Legislative measures woro m stituted, and a Bill brought into the House of Commons ratifying the Convention. Ono of tho reasons given m support of the Bill was the fear of a " corner " among the European producers ; another was tho fear of a European tvar, which would cut off supplies. It was therefore necessary to protect sugar-producers iv the British dominions, so that alternative sources of supply would always be open, and the beetBugar monopoly broken down. The Con vention was not looked upon with favor at Home, and its ratification is, we hear by latest cable news, being strongly opposed. Whether or not it come into operation, there is no doubt that the proposal of such a treaty has had an effect upon prices. Tho principal cause of the enhanced prices is without doubt tho decrease m production, Three months ago authorities agreed that stocks m Europe were running short, with no fresh sources to apply to for supplies, and it was estimated that by tho time next October is reached tho general stock will only amount to onethird of the usual stock at that dato, m previous years. That there is a short crop m Queensland wo are all aware. Tho Cuban crop is short by 200,000 tons, and this has driven the Americans to Java, thus diminishing the supply and raising tho price of what Australasia generally draws from that quarter. Supplies from Mauritius are threatened to be cut off, or at any rate retarded, by the outbreak of small-pox there. In fact, whero is sugar to como from for tho next six months' requirements'/ is a question now being raised, and a reassuring answer is not forthcoming. Old colonists talk oi the " early dayo" when sugar was dearer than tea is now, and though there is no reason to anticipate any such dreadful state of affairs it is quite probable that eight penco or nino pence a pound may have to bo paid before tho balance of Bupply and demand is restored.

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The Ashburton Guardian. Magna est Veritas et Prævalebit. SATURDAY JUNE 22, 1889. THE RISE IN SUGAR., Ashburton Guardian, Volume VII, Issue 2155, 22 June 1889

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The Ashburton Guardian. Magna est Veritas et Prævalebit. SATURDAY JUNE 22, 1889. THE RISE IN SUGAR. Ashburton Guardian, Volume VII, Issue 2155, 22 June 1889

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