While Brazilian Consul-General Sebastaio Sampaio did his best to soothe with fine words New York's unruly coffee market, President Washington Luis Pereira de Souza of Brazil struggled in Rio de Janeiro with a coffee crisis twice as acute, infinitely more ominous.
The country's prosperity is almost entirely dependent on coffee. Mountains of brown beans in Brazilian coffee warehouses, the certainty that the monopolistically raised price of coffee could not long withstand overproduction, caused the coffee market to crack fortnight ago (TIME, Oct. 28).
Working like a beaver President Luis strove to avert...
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