EBB AND FLOW OF TRADE.

Gisborne Times, Volume XLV, Issue 3976, 8 July 1915, Page 5

EBB AND FLOW OF TRADE.

Dealing with trade booms, a contemporary recalls* the rush which developed in Greece something like 35 years ago. when landowners staked their all on the future of currants. After the vineyards of France had been ravaged by phylloxera, there sprang up a great demand from that, country for Greek currants to be used in wine-making, and prices soared to heights never before known in the currant trade. Under this stimulus Greek landowners all through the cur-rant-producing provinces uprooted their olive groves and planted the lands to currants, until within a few years the acreage liad far more than doubled. Then France, having found means to combat phylloxera-, placed upon currants a prohibitive import duty, thereby permanently shuttingoff from Greek currant growers the market whose demands had stimulated them to increased production. Immediately supply overtopped demand in the world’s currant market-—this district, which supplies tho world’s currants, was producing 30 per coni, more fruit than it could disposo of. Prices fell precipitately, and_ for decades the currant trade was in a 'had condition.