CUBAN SUGAR
POWERS TO RESTRICT OUTPUT
Havana, October 5
President Machado, of Cuba, has signed a Bill restricting the output of Cuban sugar,. making it law. The Bill was passed earlier in the day by’the Senate. The powers conferred on the President include authority unconditionally to retire 150,000 tons of the 1920-27 crop from the market.
Experts estimated that if the powers of the Bill were exercised the price of sugar in the United States would be increased half a cent a pound. The Bill creates a Government-controlled export company, and provides for heavy tariffs for sugar produced in excess of the amounts allotted to the mills. Ihe scheme is on the same principle as the British rubber restriction system—the Stevenson plan.
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Bibliographic details
Dominion, Volume 21, Issue 11, 7 October 1927, Page 11
Word Count
122CUBAN SUGAR Dominion, Volume 21, Issue 11, 7 October 1927, Page 11
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