Word: 17â
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Dates: during 1926-1926
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...British Commonwealth produces nearly three quarters of the world's crude rubber and the U. S. consumes about the same proportion. During the War prices were about 50¢ a pound. Following the War, prices dropped to around 17??. A fair price is somewhere in the neighborhood of 30¢ or 35¢. Following the War the British rubber producers were in much the same trouble that U. S. agriculture is in today?overproduction and ruinously low prices. To remedy this a special type of export tax was devised to reduce the production of rubber. It was so arranged as to discourage production...