Economic essays

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Monograph

Identifikator:: 1753623200

URN:: urn:nbn:de:zbw-retromon-136107

Document type:: Monograph

Title:: Economic essays

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1927

Scope:: viii, 368 S.; Ill., graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: The holding movement in agriculture / Jesse E. Pope

Collection:: Economics Books

74 ECONOMIC ESSAYS IN HONOR OF JOHN BATES CLARK | i — el aken care of only by the adventitious circumstance of the frosts f 1918. econd, while the object of valorization was declared to be the tabilization of the market, the result has been quite the appasiin he arbitrary and uncertain action of the Government has made peculation more hectic and prices more irregular. Buying of offee has become a “hand to mouth” affair. The arbitrary ction of the Coffee Institute and its high handed methods have roused antagonism among buyers the world around. It has not esitated to break its contracts (see Wileman’s Brazilian Review, anuary 26, 1927), and it has so often deliberately fin he coffee crop that no one in the trade takes its estimates seri- usly. The Institute has boosted prices on supposed crop short- ge. It estimated Sao Paulo’s 1926 crop at from seven to seven nd one-half million bags, whereas the final crop was 10,129,000 ags. (Ibud., Jan. 6, p. 29.) It must be admitted that owing to abor conditions and the difficulty of overcoming inertia in the ropics, the situation created by valorization has been only par- ially remedied by increased production in other countries, Ithough the coffee trade believes that such increased production ust eventually come about. However, there has been no corral ver the increase in domestic production and since the beginning f valorization Sao Paulo—the chief coffee producing state—has oubled its potential production, having increased the number of its trees from five hundred million to one billion (Ibid., March 5, 1926) ; and the actual Brazilian supply has increased from ear to year. Brazil's ability, in the face of increasing supplies, o maintain high prices has been due to no inconsiderable degree o the enormous increase of consumption which has taken place uring the valorization period.* n expert, anticipating the time when supply will be in excess of emand, says, “An excess of supply over demand will be the ear’ factor which the United States, the greatest consumer of offee, has been patiently waiting for to retaliate against Brazil's efense policy, namely, the forcing up of prices or maintaining hem at fictitiously high levels by virtue of restrictions.” (Ibid. ec. 6, 1926, p. 1613. 1 The world’s consumption of coffee has increased from between seven- teen and eighteen million bags to between twenty-one and twenty-two million bags. (Wileman’s Brazilian Review.)

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