The Commercial Products of the Vegetable Kingdom - Considered in Their Various Uses to Man and in Their Relation to the Arts and Manufactures; Forming a Practical Treatise & Handbook of Reference for the Colonist, Manufacturer, Merchant, and Consumer, on by P. L. Simmonds
page 115 of 1438 (07%)
page 115 of 1438 (07%)
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The effects of so baneful a system being equally manifest upon both consumption and revenue, they are here separately illustrated. In 1824, according to the following high scale of duties, viz., 1s. on West India, 1s. 6d. on East India, and 2s. 6d. on foreign, the Customs derived from coffee was £420,988; in the following year the rates were reduced one-half, and in the short space of three years the amount yielded had advanced to £440,245, an increase which steadily progressed (partly aided by the admission of the produce of British India at the low duty) until it reached £921,551 in 1840. These satisfactory results justified a further reduction of the duties in 1842 to 4d. on colonial and 8d. (and in the subsequent year to 6d.) on foreign, under which the revenue declined in 1844 to £681,616. In 1846 it had again reached to £756,838, and was gradually recovering itself, when this system of adulteration first began to extend itself generally, and since that time the revenue has rapidly declined under the _same scale of duties_ to £566,822 in 1850. In 1824 the quantity retained for home consumption was 8,262,943 lbs., which was augmented to 11,082,970 lbs. in the first year of the reduction of duty, and continued to exhibit an increase at a rate rather exceeding two million pounds per annum until 1830, when coffee would appear to have reached its limit of consumption without further stimulus, and remained stationary until the modification of duties allowing the admission of foreign coffee, _via_ the Cape, at the colonial rate, when it advanced from 23,295,046 lbs. in 1835, to 28,723,735 lbs. in 1840; and consequent upon a further reduction of duties in 1842, the elasticity of the trade experienced a still wider development, and an increase of nine million pounds is exhibited in |
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