Word: cartelism
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Eighty-five percent of the world's productive veins of quicksilver ore (cinnabar) lie in Spain and Italy. The great Spanish mine of Almaden, worked at least since Hannibal's time, was a prime pawn in the late Spanish war. A European cartel, pioneered by the Rothschilds, controls the world price. No. 1 world consumer, the U. S. uses 25,000 to 35,000 flasks * a year, normally buys half its quicksilver from the cartel, produces nearly all the rest itself...
Western U. S. quicksilver mines were sizable producers in the last century. But they exhausted their best ore, and of 90 or so mines in the U. S. today, most are marginal producers, their rate of production highly responsive to the cartel's price. Newest U. S. mine in commercial production is the Idaho Almaden near Weiser, Idaho, discovered by a sheepherder in 1936, leased and run by Lawrence Kendall Requa, son of Herbert Hoover's late friend and booster, Mark Requa. Vice presidents of Idaho Almaden are Sons Allan and Herbert Hoover Jr. Producing around...
...replace German imports of Buna-N (some 340.000 Ib. in 1938), now cut off by war. But Standard Oil Co. (N. J.) also has U. S. rights for the manufacture of tire-Buna (Buna-S) and U. S. rubbermen hope for eventual independence from a tree-grown, seaborne, cartel-priced raw material...
...against one another, banded together more firmly than ever to keep the expanding U. S. potash industry from depriving them of the U. S. market. U. S. consumption in 1938 was 467,000 tons (15% of world production) which provided $23,260,400 worth of business, with the Cartel cut down to $13,512,110. Down came the Syndicate's U. S. price (50? to $1.75 a ton) on three important grades...
...sudden discovery that it had a real rival in the U. S. potash industry is the fact that U. S. production has been subsidized by no tariff. Had the foreign producers not set up monopoly prices, the U. S. industry might have grown more slowly, but the Cartel's greed was all the "protection" that the infant industry needed. The Syndicate's final stupidity was to maintain its prices during the 1938 depression. As a result its sales to the U. S. fell from 351,445 tons to 193,609 tons (45%), while sales of domestic potash expanded...