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Published 2004
The late nineteenth century, with its steam engines to power boats and trains and electricity to run factories and printing presses, was the spawning ground for modern industrial capitalism, mass marketing, and advertising. Coffee became an international commodity, and speculation in coffee beans made and lost fortunes. After an oversupply of Brazilian coffee ruined speculators in 1880, a coffee exchange was opened in New York. It provided a way to hedge and bet on coffee futures, but it did nothing to prevent speculation and attempts to corner the market.
