The British delegates wrote that it appeared that there were at that time but two methods of securing the suppression of the bounty system - an arrangement for limitation of the French and Russian bounties acceptable to the other sugar-producing states, in return for the total abolition of their bounties; or, a convention between a certain number of these states, providing for the total suppression of their bounties, and for the prohibition of entry into their territory of bounty-fed sugars, or countervailing duties prohibiting importation.
On the 10th of March 1899 an act, authorizing the imposition of countervailing duties on bounty-fed articles at the port of importation, was passed by the Council of India, and received the assent of the governor-general.
From 1899 to 1904 a countervailing duty was imposed on bounty-fed beet sugar.
A great deal has been said as to taxes termed "countervailing duties," which are called for in order to defend free trade itself against the protectionist bounties of foreign governments.
But until the clouds rise above the hill there is an obvious countervailing tendency to compression, and in steep slopes this may reduce or entirely prevent precipitation until the summit is reached, when a fall of pressure with commotion must occur.