The Price of Sugar and the Situation in China
The rapid descent of sugar prices during the last nine months has resulted in an economic depression of steadily increasing intensity throughout the Island of Cuba. Sugar prices have been moving downward for five years, and the decline in sugar has been accompanied by a five-year decline in the prices of tobacco.1 Tobacco is Cuba's second largest money crop, although its value is only about one-tenth that of the sugar crop. Cuba's third source of largest revenues during recent years has been the tourist trade. A falling off of about one-half in tourist expenditures during the 1929–30 season, as a result of the Wall Street panic, has rendered the economic situation more acute. The business stagnation, ...