Word: tobacco
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Dates: during 1930-1939
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...along with old clothes, to drink coffee substitutes, to cut down smoking. But they desperately needed food and war supplies. The relative demand for various goods had completely changed. 2) The costs of transportation changed just as radically. There were few ships available to carry cotton, coffee and tobacco. More important, the cost of insuring these staples in transit through mine-and-submarine-infested waters rose to affect commerce in the same way as if new tariff barriers had been erected. Rubber, for example, zoomed to 90? a pound in New York during the War, but in Singapore, it brought...
...price were most of the metals. Copper soared from 13? a pound in early 1914 to 35? in 1917. But as wheat, sugar and copper went up, cotton (little of which was used for gun cotton) fell from 13? a pound to 8? in six months. Coffee and tobacco followed the price pattern set by cotton. Cotton piled up in U. S. warehouses, coffee clogged the docks of Santos in Brazil...
...their pre-War level. General Motors stock appreciated 452%. Stocks of steel and iron companies, exclusive of U. S. Steel, rose 293%; chemical concerns, 117%. At the other end of the table, gaining little, were the railroads and utilities, whose price structures were under the supervision of the Government. Tobacco and cigaret manufacturing stock appreciated only...
...Spain, the prize War baby was Juan March, who had been born of poor peasants on the island of Majorca. Before the War, March was a small Barcelona trader who sold onions and chickens during the day and smuggled tobacco and silk by night. His smuggling flotilla came in handy as early as October of 1914, when he made a killing by cornering all available pigs on the coast of Spain and selling them to the Entente powers for a fantastic profit. Shortly his smuggling fleet had become the Compania Transmediterranea. This company supplied food to the Entente nations...
Poultrymen wish the New Deal would stop worrying about cotton, grain & tobacco growers and pay some attention to them. Said one delegate to last week's Congress: "Poultry produces enough dollars every year to make the income of U.S. Steel Corp. look like chicken feed." He might have added that it is not much more profitable as a business. As long as three out of four eggs are a byproduct of general farming-produced with little direct cost-competition keeps prices down to a level where there is little profit in the business for most specialists...