CHEAPER SUGAR.

Taranaki Daily News, Volume XLVII, Issue 8108, 12 May 1906, Page 4

CHEAPER SUGAR.

The report of 1 lie viev s of the Auckland Chamber of Commerce on the Premier's prnp-iswl tariff reduction would, says the " New Zealand Times," seem to indicate that the Auckland peoplei think the Premier favors a " rcj duction on sugar of 3s a ewt." Such a [ misconception would be excusable, bocause one of the UiinstiMuivti papers, in its report of Mr Scddon's speech at Rangiora, contained a statemcnlto that effect, and this was wired to papers all over the colony, That it is a misconception seems to be clear, for the fol-lowing-reasons (1) The other <phristchurch; paper reports the Premier as advocating a reduction of the' duty, " to 3s j" (2) if the proposed reduction is to 3% the prestnt duty being ;<ls 8d ppr ewt., the reduction will be Is Hdper ewt., or five-fourteenths of the present duty, i ■

The duty collei-lnl on sugar. molasses, and treacle duriiiK the financial year, 1905-6, was i'liisi.'l:!, and livefourteenths of this is £71,117, wliich is the actual reduction or loss of revenue that will result from a reduction of Is 8d in the duty. That the Preniit I ]' contemplated a reilurtion of Is 8d is it,least strongly indicated by bis slatement, reported at the same time, thai ;{he reduction would mean a sit 111 of £69,058. The difference between the Premier's figure .as to loss of revenue and our corresponding figure (£71,147) is easily accounted, for by the probabil ity that the Premier was calculating on the Customs totai for the calendai year, while the " Times' " cuU-ulalioii.-are based on the financial year. Tin approximate correspondence of the two sums, and the report of one of tin Christchurch papers, are overwhelming evidence to the fact that the Premior meant.a reduction of Is Sd, net 3s, in the sugar duty. A reduction of 3s (or considerably more than half the present dttty)*wbuld mean a revenue loss of about £128,000, instead . f ! CI'.OoS.