Page:Mexico and its reconstruction.djvu/227

Rh export in 1877-8 was valued at 1,078,076 pesos, that for 1912-13 was worth 31,133,755 pesos.

The value of exported sisal increased remarkably during the World War but, like the figures of international trade in many other lines, this reflected a development of exceptional character and not one that can be expected to continue in times of peace. With supplies of Manila hemp cut to a minimum by the war, Yucatan producers met an exceptional market for their product. In addition the local government set up a system of market control that forced the prices still higher. As a result sisal fiber, which sold at an average of $.055 United States gold per pound in the five years before the war, rapidly rose in nominal value reaching a peak of $.2125 United States gold per pound at one time during the conflict. Such returns are now a thing of the past. In 1921 sisal was back to its prewar price level. The market was depressed by large stocks, and a production more than sufficient for the decreased peace time demand. However, the advance that had been made in pre-war times will be maintained. It is beyond doubt that Mexico's