194 COFFEE. 



syndicate would soon terminate. During the year prices of all 

 varieties declined, and with the exception of Java, ruled lower 

 than in January. Prime cargoes of Brazil declined from 18f to 

 15| cents, the average price for the year being about 3i cents 

 below that of 18Y7 ; Maracaibo declined 3f cents, and St. Do- 

 mingo, 3| cents, while the average yearly cost of Java was 1-J 

 cent less. In January, Java sold at 21 @ 23 cents, declining 

 in April to 20^ @ 21-J- cents, and ruling at 23 @ 23^ cents in 

 December. There was an advance during the year of 6,466 tons 

 in consumption, while the receipts fell 5,297 tons below those of 

 the previous year. 



— 1879 — 



The course of prices in 1879 was downward, excepting for 

 Java. There was a great gain, both in the receipts and consump- 

 tion on the Atlantic Coast, the former advancing 50,980 tons, and 

 the latter, 36,869 tons, the stock being 11,163 tons heavier on 

 December 31, 1879, than at the corresponding date 1878. 

 During this year Europe made an advance in consumption, and 

 yet prices fell. During the fall of 1879, however, in New York, 

 the coffee syndicate made another effort to advance prices, and 

 this was greatly aided by the general improvement in business. 

 Fair Rio coffee, advanced from 13f cents in September, to 17 cents 

 in l^ovember, Maracaibo gained 3 cents in price within two 

 months, and St. Domingo went from 10^ to 14 cents during the 

 same time. So rapid was the increase in the demand for merchan- 

 dise that prices of all kinds were greatly advanced, legitimate 

 trade being for a time supplanted by speculative operations. The 

 great advance during the last two months of 1879 checked trade, 

 as dealers generally believed that the large crops produced in 

 Brazil and the East Indies, in connection with the stimulus given 

 to production in Mexico and Central America, warranted lower 

 prices for coffee. 



— 1880 — 



This year was one of reaction, and the history of the trade for 

 the twelve months is a record of loss and disaster such as never 

 was experienced before in the coffee trade in the United States. 



