Note 346 — Chapter XXVIII

The agreement with the São Paulo planters comprehended their furnishing yearly the proceeds of a tax of 100 reis per bag. This actually amounted to $20,000 per month up to January, 1921. During 1921, by reason of a short crop and the advance rate of exchange, the remittances were reduced almost half. In January, 1922, the São Paulo legislature on petition of the Sociedade increased the tax to 200 reis per bag to run for 3 years. In spite of this, the probability is that another short crop and a continued low rate of exchange will keep the Brazil contribution in 1922 down to about $180,000 net. By November, 1921, a total of $671,000 was expended on advertising. Of this, $551,000 was contributed by the planters of São Paulo, and $120,000 by the coffee trade of the United States.