Three months ago, the Combined Rubber Committee, composed of six countries, had the world rubber situation all figured out. The supply of crude rubber, the Committee thought, would not stretch enough to meet demand for a year or two. To prevent prices from soaring, the price of crude was pegged at 23½ ¢ a lb., f.o.b. Far Eastern ports. The British Government agreed to buy all Malayan rubber offered at this price. But by last week the pegged price meant little. So much rubber was pouring into Malayan ports that the price was dropping.
On top of this, the Reconstruction Finance...
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