Word: sugars
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Dates: during 1920-1929
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Many parties, first and last, are cited as responsible for the advance in sugar prices, including " the profiteers " (cf. remarks of Mayor Hylan), the Republican tariff (cf. remarks of various Democratic leaders), Mr. Hoover, the Department of Commerce, Cuban producers, the " monopoly" of sugar refiners, speculators in raw sugar on the Sugar Exchange and " supply and demand." The part in sugar's rise generally assumed to have been played by the Government has added no little heat and fury to the controversy, thereby obscuring more fundamental causes...
Meanwhile, prices for raw sugar futures have touched a new high record for this year, and the highest price since 1920, on lowered estimates for the current crop; Guma-Mejer, the Cuban authority, estimated it as low as 3,670,000 tons. Most refiners, including American Sugar Refining, Federal Sugar Refining, Arbuckle Bros., Revere, National, Warner and Pennsylvania, have not unnaturally raised their prices for refined sugar after the rise in the raw commodity...
John W. Davis, former Ambassador to Great Britain, has been ranked as a not impossible contender for the Democratic presidential nomination in 1924. But now he has committed political suicide, according to newspaper comment. He allowed himself to be retained as counsel for the New York Coffee and Sugar Exchange in the suit against sugar manipulation begun by the Government...
That in itself is no great matter, but it is an almost insurmountable obstacle to his possible candidacy in 1924. Now if he steps into the political limelight, the cry of his enemies will ring out: " Behold the Tool of the Sugar Trust! Lo, the Enemy of the American Breakfast Table...
...business leaders are inclined to think consumption has begun to overtake production, and that further increases in the rate of output would be for a speculative purpose alone. Wages are generally rising, however, and in general profits in industry and trade seem likely to diminish. The rise in sugar, with its considerable political reaction (see page 2) provided the center of interest and discussion...