1930s >> 1932 >> no-337-september-1932

Do You Like Coffee?

The following interesting sidelight on capitalism is a Reuter message from New York, published in the Daily Telegraph (5th July, 1932): —

More than 1,000,000,000 lbs. of coffee, worth over £10,000,000, have been destroyed in Brazil by the National Coffee Council in its efforts to stabilise the price of coffee. According to the New York Sugar and Coffee Exchange, the amount destroyed before June 18 was 7,786,000 bags of 132 lbs. each, or a total of 1,027,752,000 lbs.
The original plan of the Council contemplated a total destruction of 18,000,000 bags.