REVIEW OF THE SALT TRADE OF NEW-YORK FOR THE YEAR 1872. THE whole amount of salt inspected at the Onondaga Salt Springs Reservation during the year is 7,930,925 bushels of fifty-six pounds each. Of this amount 1,882,604 bushels were made by solar evaporation, and 6,048,321 bushels by artificial heat. The following tables give the amounts inspected in the several manufacturing districts into which the salt reservation is divided: In addition to the salt inspected at Geddes, there were manufactured in that district 209,604 bushels, which were taken to the Excelsior Mills for grinding, and appear in the inspection for the second district. The revenue received by the superintendent during the year from all sources is as follows: Duties on 7,930,925 bushels of salt, at one cent per bushel, fractions added,.. ..... From rents,. The total net revenue, however, received by the State was but $33,991 78. MOVEMENTS OF ONONDAGA SALT. The annexed table shows where the Onondaga salt was marketed in the years 1867, 1868, 1869, 1870, 1871 and 1872: Bent to New-York City,. Sent to Canada,. 1867. 1868. 1869. 1870. 1871. 1872. Bushels. Bushels. Bushels. Bushels. Bushels. Bushels. 1,407,200 1,545,920 1,940,635 2,033,125 2,320,106 1,966,941 284,158 334,865 518,904 504,262 290,120 78,190 7,243 .... Sent to lower lake ports,.......... 1,655,280 2,102,179 2,120,590 1,892,499 1,514,976 1,675,654 Total,... 1,897,760 2,065,220 1,709,782 1,900,815 1,537,048 1,053,190 7,595,565 8,666,616 8,662,237 8,748,118 8,374,811 7,569,729 Examination of the following inspection table discloses the fact that the quantity of salt inspected during the year falls short of the inspection for 1871 by 444,031 bushels, and is 478,572 bushels below the average inspection for the last five years. The deficiency, however, is in the production of the solar salt, the amount of fine salt exceeding that of 1871 by 137,829 bushels. The failure of the water supply from the Erie Canal during the months of March and April satisfactorily accounts for the falling off in the production of the solar salt. Total, 1,487,092 5,059,140 395,512 989,181 7,980,925 The following is a statement of the number of bushels of salt made at the Onondaga Salt Springs since the year 1858: On the first day of August, 1872, the reduction in duty on foreign salt from 18 cents gold per 100 pounds, to 8 cents on salt in bulk, and from 24 cents per 100 pounds to 12 cents on salt in sacks, took effect. So far from the lowering of the tariff rate having an injurious effect on the price of Onondaga salt, it is now acknowledged that the business of the last five months of 1872 has been prosperous, and the price of both coarse and fine salt is higher than it was before the reduction of the tariff rates.* Owing to the largely increased price of coal, and the rise in the labor market in England, the reduction of duty on foreign salt has not had that effect upon the price of salt which was anticipated by those who advocated the passage of the act. The cost of both fine and ground salt is higher than it was before the duty was reduced, and the importation of fine salt has fallen off slightly from that of 1871. The importations of fine salt at the port of New-York for the past three years have been as follows, each sack containing four bushels, of 56 pounds each: The importations of coarse salt at the port of New-York for the past three years have been as follows, in measured bushels : *We are indebted to the Annual Report of the Superintendent of the Onondaga Salt Springs of the State of New-York, transmitted to the Legislature, January 14th, 1873, for information in relation to Onondaga salt. An analysis of the importations of coarse salt into the port of New-York for the year 1872 shows the aggregate number of bushels to have been 462,287 bushels greater than in 1871. This largely increased quantity is doubtless due in a great measure to the reduction in the duty, and has been a source of profit to our mercantile marine. To the importer, however, the business has been unremunerative, and has resulted in actual loss. That The duty exacted is still about 100 per cent. ad valorem. the retention of this excessive rate is needed for revenue purposes few would claim; that its entire abolition would be of great and immediate benefit not only in the interest of packers and manufacturers, but also of the agricultural and shipping interests of the country, is now generally conceded. ANNUAL REVIEW OF THE TEA TRADE OF NEW-YORK, FOR THE YEAR 1872. 4,194,267 5,058,816 2,834,435 4,613,601 797,109 8,245,145 17,498,228 23,332,973 18,861,556 4,832,710 16,918,811 323,206 21,569,227 58,763,756 27,527,240 18,915,372 7,167,145 21,526,912 1,120,315 29,814,872 76,256,984 21,088,226 10,810,090 2,912,645 18,279,541 Our exhibit of movements in tea for 1872, as above, is made to conform with the annual statement for 1871 as far as it is possible, say to July 1, 1872, the date of the abolishment of the duty. The movement for the remaining six months of the year is estimated; we consider our estimate perfectly reliable. The business of the year 1872 developed some new and peculiar features. Very early in the year the rumor that the duty on tea would be abolished spread all over the country; purchases for consumption were consequently reduced to supply only the actual requirements; business became very dull; much discontent was manifest. Merchants petitioned Congress to decide at once, and finally in May Congress did decide to abolish the duty on tea after July 1st. This decision created a very general disposition to purchase, which resulted in large transactions on speculation. Every class of buyer became interested, and as the supplies purchased by distributors for consumption were very large, operators for an active market in July, August and September were greatly disappointed, and prices fell rapidly under the pressure to sell. The Presidential election, as usual, occupied public attention to the exclusion of business, and as new crop tea began to arrive the increase of stock became very apparent, producing an apathy in the market that is |