Many years ago the Brazilian Gov ernment undertook a policy of "coffee valorization," which in simpler English means rigging the world market for coffee, of which Brazil is the chief producing nation. Every now and again, high prices thus established would cur tail consumption and encourage large production, and a large surplus would result which would have to be held off the market lest its sale smash the artificially high prices set.
The Brazilian Government has not hesitated to use its own credit to help its coffee growers. In 1922 a loan of £9,000,000...
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