190 COFFEE. 



of 1^ cent ; the average for the year being 23.4:1 cents, against 

 24.75 cents in 1867. 



— 1869 — 



The receipts were, 4,149,313 pounds more than in 1868, while 

 the consumption increased 19,792,317 pounds, which led to a 

 reduction in the stock, which was on December 31st, 16,717,682 

 pounds below the quantity held at the beginning of the year. In 

 the spring of 1869 a large speculative business was done in Java, 

 the transactions amounting to 100,000 mats, and absorbing all the 

 stock on the spot, together with that to arrive. The highest price 

 for the year was in June, when Java sold at 23^ © 25 cents, the 

 lowest in April, when it brought 21 @ 23 cents, the average 

 for the year being 23.02. The average cost of Brazil, was 15.82 ; 

 Maracaibo, 17.54. 



— 1870 — 



The imports for the year were the largest on record, as also 

 was the consumption, which was 37,470,555 pounds larger than 

 that of 1869, equal to a gain of 15f per cent. 



The market during this year was less disturbed by fluctuations 

 than it had been for many previous years. Brazil averaged 16.33 

 cents, a higher price than had ruled since 1867 ; Java averaged 

 21.19 cents, against 23.02 cents in 1870, a decline of 1.83 cent. 



— 1871 — 



During this year the receipts and consumption were again in- 

 creased, being heavier than for any previous year. The duty was 

 reduced two cents per pound, and yet there was a decline in the 

 average cost, of Brazil of less than half a cent ; Maracaibo, was IJ 

 cent lower ; Java, -^ cent higher in comparison with 1870, when 

 Java coffee sold at lower prices than for several years previous. 

 In August of that year it became certain that the Brazil and Java 

 crops were short, and a very active trade was done, especially in 

 Java, of which 100,000 mats were sold. The deliveries of Java 

 fell, in 1871, 540,000 piculs below 1870, the Sumatra crop of 

 1872 was 65,700 piculs below that of 1871, and Brazil exported, 

 in 1872, 425,000 bags less than in 1871. In September the 



