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Towards the end of the 19th century, the great demand for cocoa worldwide made it the main export product of our country. Cacao cultivation, until 1914, was a rather simple process thanks to the natural richness of our soil. Therefore, it required little investment and the producers obtained very high profits from their sale. The dry cacao was sent by river to Guayaquil. From there he left for Europe or the United States. This activity encouraged the concentration of land, or latifundia for its cultivation and attracted the migration of labor from other regions, as people sought less harsh working conditions. The state favored cacao exporters with some measures, such as lower taxes on exports, regulations for national and international monetary exchange, and improvements to facilities in the port of Guayaquil. The support of the guayaquileña bank, main lender of the State, was also a key factor.The money of cocoa exports did not serve the industrial development of the country, but for the importation of luxury goods and the maintenance of cocoa families who lived a luxurious life abroad. This hit domestic production and discouraged investment in productive activities.
At this time were Jose Maria Plácido Camacho, Antonio Flores Jijón and Luis Cordero Crespo.
And there were also great writers who referred to romanticism as Juan Montalvo and Juan León Mera that in addition to writing the national anthem also wrote great novels like Cumandá.
In 1907 began the crisis of cocoa export. British colonies in Africa covered demand at lower prices. With the World War that broke out in 1914, consumption and prices fell drastically, which hurt Ecuadorian producers. When demand and prices recovered, plantations had been plagued by pests. With the crisis of cacao, the whole economic system of the country, dependent on the export of that product, collapsed.
At this time were Jose Maria Plácido Camacho, Antonio Flores Jijón and Luis Cordero Crespo.
And there were also great writers who referred to romanticism as Juan Montalvo and Juan León Mera that in addition to writing the national anthem also wrote great novels like Cumandá.
In 1907 began the crisis of cocoa export. British colonies in Africa covered demand at lower prices. With the World War that broke out in 1914, consumption and prices fell drastically, which hurt Ecuadorian producers. When demand and prices recovered, plantations had been plagued by pests. With the crisis of cacao, the whole economic system of the country, dependent on the export of that product, collapsed.
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