Rudyard Kipling to the contrary, Britain's dominion over palm and pine by no means amounts to a monopoly. Britain's dominion over rubber plants, however, is the most extensive in the world. In the early 1920's rubber-growing Britons sought to control, through the notorious Stevenson plan, the world's rubber market. They managed to stretch rubber prices to $1.23 per lb., but when the restriction scheme collapsed the price did not stop shrinking until it hit 3ยข per lb. early last year. Chief reason for the plan's failure was not Secretary of Commerce Herbert...
To continue reading:
or
Log-In
