37s. 0d. -----
1843 34s. 7d. 33s. 10d.
1844 34s. 9d. 34s. 7d.
1845 31s. 3d. 30s. 3d.
1846 35s. 3d. 34s. 2d.
1847 32s. 11d. 32s. 1d.
1848 24s. 3d. 23s. 3d.
1849 24s. 4d. 24s. 0d.
1850 25s. 3d. 28s. 8d.
1851 27s. 3d. 26s. 9d.
Half-year ending Jan. 5,
1852 27s. 3d. 26s. 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 10s. 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. Now the reduction of duties subsequent to 1846 and to
1851, was, on brown Muscovado sugar, from 13s. to 10s., or 3s.; 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 L4 1s. 8d.
to L2 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 manufacture 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 progress 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; besides 600,000 gallons of
molasses. Last year, the crop exceeded 240,000 hhds., worth 12,000,000
of do