Note 8 — XXIII
Reading edition
The future sugar market.As I have already mentioned, California, Japan, China, and Australia appear designed by nature to be the principal consumers of the products of the Philippine Islands. Certainly at present England is the best customer; but nearly half the account is for sugar, in consequence of their own custom duties. Sometimes it happens that not more than one-fourth of the sugar crop is sufficiently refined to compete in the Australian and Californian markets with the sorts from Bengal, Java, and the Mauritius; the remaining three-fourths, if particularly white, must perforce undertake the long voyage to England, despite the high freight and certain loss on the voyage of from ten to twelve per cent. through the leakage of the molasses. The inferior quality of the Philippine sugar is at once perceived by the English refiners, and is only taxed at 8s. per cwt., while purer sorts pay 10s. to 12s.8