§ 2. "That the Customs duties imposed and the drawbacks allowed under section two of The Finance Act, 1901 (being duties and drawbacks in respect of sugar, molasses, glucose, and saccharin), and the excise duties imposed and the drawbacks allowed on glucose and saccharin under section five of the same Act, and the allowance in respect of molasses used for food for stock under sub-section two of section one of The 992 Revenue Act, 1903, be reduced in each case by fifty-six per cent., or as near thereto as the Treasury may determine, the reduction to take effect on and after the eighteenth day of May, nineteen hundred and eight. Provided that, as respects the duty charged on manufactured or prepared goods under section seven of The Finance Act, 1901, and the drawback allowed on any such goods in respect of which it is shown to the satisfaction of the Commissioners of Customs that the duty was paid on the sugar, molasses, glucose, or saccharin used in the manufacture or preparation at the rates now charged, the reduction shall not take effect until the first day of July, nineteen hundred and eight."