_. the prospects of a further increase owing to the good harvest of the winter 1) 7/ 
brought down the price to 2.20 lire in spite of all efforts to the contrary. i 
_ of further agricultural circles, as well as the numerous classes oe peaEle who gained 
their living in the lemon trade and lemon raising. 
Already in 1917 official attempts had been made to substitute lemon. oil for oil. of ‘ 
| account of the scarcity of labour, nevertheless the yields. rema 
and there were no remarkable variations in price during the ye 
- the nahearepk height of 25 tite: 
The Bees! season 4916/17. Tad ito, ‘one against T 
renewed advance in local speculation. was nee in order to > maintain 
average price level of 3 lire; Se fh, 
The stocks of this oil had pontine increased in the course ae the yea fy 
A prolongation of such unsatisfactory conditions threatened seriously the ‘interests 
As usual, the Government was bombarded with requests For “nae: “ane ‘protections “a 
A lucky chance gave it the opportunity of helping itself in helpipe. the agriculture: and 
mngustty of southern Italy. bata 
_A very serious scarcity of oil of turpentine fae arisen in- Italy dating ‘the War. 
turpentine; these experiments turned ont satisfactorily. ) ae tan 
Hence, on account of the crying needs of all Government workshops, oreenaieys 
shipbuilding yards for oil of turpentine, a law was proclaimed appointing. a pose ae 
commission with orders to supply the state with 300000 kilos lemon oil from manu- — 
facturers and traders, and to further the home consumption of lemon oil aS a substitute 
for oil of turpentine. : es Se rahe oe 
The price fixed for this compulsory sale amounted to only 2.64 eg per Silian 3 
pound of 317 grammes; yet it relieved the pressure in Jepsening the ee which 
exerted an influence an the price. | + Oa 
The example of the Government was naturally followed in private industry, $0 0 that ‘ 
altogether very considerable quantities of lemon oil were used up in their own. country. i 
This measure combined with the inflowing orders from all countries for this oil, 4 
after the conclusion of the armistice led to a great demand, and in the last two ‘months » 
of the year the price of lemon oil we from 3.50 to 6 lire; ont & ‘to sink again towards. 4 
the end of January 1919 to 3.75 lire. | 
An exceptionally rich production during the first four months of 1919. keor ‘ihe ie 
price of the oil at this level till May, in spite of the greater demands of the market _ 
on account of the reviving exports. Naan ; 
Lemon oil commenced to soar in price from the middle of Mae, onwards tk 
demands from abroad, and the consequent desire for speculation of the markets wo 
not allow the price to steady itself. | | Oe a ee 
Capital, which during the War had otherwise been profitably invested, be 
free, and was at once invested in the local essential oils. ; dea 
Money so easily earned during the War was recklessly aublel: with; ‘the 
success intoxicated; till finally wider and wider circles of capitalists. were ‘seized 
the fever of speculation, in which common sense was. cast to the. winds; and 
cause or reason the prices of all oils soared to crazy heights. —_— / 
Feom. une to December lemon oil rose each ie ahae on an ere by 
‘The’ prudent and practical beri of ‘foreign countries as, + well 
