First, a diminution of the value of your staple commodity, lowered by overproduction in other quarters, and the consequent diminution in the value of your lands were the sole effect of the tariff laws.

The coffee growers of India complain that they cannot compete with Brazil and other Spanish-American countries where overproduction has forced down prices below the margin of profit, but the government is doing as much as it can to encourage and sustain the industry, and believes that they ought at least to grow enough to supply the home market.

The private plantations were hampered in their development by dearth of capital and labor and by the extremely low prices of tobacco which began at the end of the sixteen-twenties as a consequence of overproduction.

"'Why, they say it's due to an overproduction o' gold,' says he.

"'Looks to me like an overproduction of argument,' I says.

State Socialism points to the evils of overproduction in some fields and insufficient production in others, under our competitive system, and proposes to remedy these evils by assigning to government the duty of determining what shall be produced and what each worker shall produce.

Both types of university appear to me to present the phenomena of a country suffering from the effects of overproduction, where the energies of workers had been concentrated upon adding to the sum of wealth, and all too little attention had been given to the distribution of that wealth through the different ranks of the community.

In 1876 there was a great crisis in the iron trade; owing to overproduction there was a great fall of prices in England, and Germany was being flooded with English goods sold below cost price.