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The United Fruits Company was and is a major corporation that holds a massive amount of history and influence in regards to Central America. This company, paved the way for massive American control over the economics, political, and geopolitical landscape of many of these nations. In today's video, we will be looking into the early history of this company.
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In 1871, U.S entrepreneur Henry Meiggs signed a contract with the government of Costa Rica to build a railroad connecting the capital city of San José to the port of Limón. Meiggs was assisted in the project by his nephew Minor C. Keith, who took over Meiggs's business in Costa Rica after his death in 1877. Keith began experimenting with the planting of bananas as a cheap source of food for his workers.
When the Costa Rican government defaulted on its payments in 1882, Keith had to borrow 1.2 million pounds to continue the engineering project. In exchange for this and for renegotiating Costa Rica's own debt, the administration of President Próspero Oreamuno agreed to give Keith 800,000 acres of land along the railroad, plus a 99-year lease on the train route. The railroad was completed in 1890, but the flow of passengers proved insufficient to offset the debt. On the other hand, the sale of bananas grown in his lands and transported first by train to Limón, then by ship to the United States, proved very lucrative. Keith eventually came to dominate the banana trade in Central America and along the Caribbean coast of Colombia.
In 1899, Keith lost $1.5 million when a New York City broker, went bankrupt. He traveled to Boston, to participate in the merger of his trading company, Tropical Trading and Transport Company, with the rival Boston Fruit Company. Boston Fruit had been established by Lorenzo Dow Baker, a sailor who, in 1870, had bought his first bananas in Jamaica, and with buisnessman Andrew Preston. The merger formed the United Fruit Company, based in Boston, with Preston as president and Keith as vice-president. Preston's lawyer Bradley Palmer, became a permanent member of the executive committee and for long periods of time acted as the director. Together, these men had a massive influence over the market. Preston brought his plantations from the West Indies, a fleet of steamships, and his market in the U.S. Northeast. Keith brought his plantations and railroads in Central America and his market in the U.S. South and Southeast. The company at Palmer's direction proceeded to buy, or buy a share in, 14 different competitors, assuring them 80% of the banana import business in the United States, then their main source of income. The company catapulted into financial success following this. Bradley Palmer overnight became a much-sought-after expert in business law, as well as a very wealthy man. He later became a consultant to presidents and an adviser to Congress.
Sources:
"The Second Century: U.S.--Latin American Relations Since 1889": Mark T. Gilderhusrt
" The Banana Wars: United States Intervention in the Caribbean, 1898–1934.": Lester Langly
"The Banana Wars: A History of United States Military Intervention in Latin America from the Spanish–American War to the Invasion of Panama": Ivan Musicant
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Watch Viral video of Ghana's President Nana Akuffo Addo Whining to the US about Burkina Faso and Mali's Relations with RussiaGhana's President Whining to the US about Burkina Faso and Mali Relations with Russia
Ghana is on high alert as military deployment sparks fear along the Burkina Faso border. The sudden surge in military activity has raised concerns among citizens and neighboring countries, with many wondering what prompted this sudden move. Is Ghana preparing for a potential conflict or is this a precautionary measure? In this video, we'll delve into the details of the military deployment and explore the possible reasons behind it. Stay tuned for more updates on this developing story.
This is a previously undiscovered African house, from east Kenya,. It is almost on the edge of extinction, with the tradition being preserved by one remarkable young woman, Ramadan. The tiny home, a beautiful example of organic architecture, is constructed by around twenty women builders over three days, usually just before a marriage. The house is unusually high, with a raised up bed, and this is to protect the occupants from the occasional flooding of the river Tana. All the natural materials are gathered from within a few kilometers of the village. Essentially it is a bentwood frame lashed together into a gridshell. The whole structure is strong as it is a natural parabolic dome. The area is undergoing rapid change as modern materials and electricity are being brought in, so we were very fortunate to be able to record this building before it disappears completely.
COMPETITION: We tried to count how many knots were actually used in making the building. We have a small competition. The person who is closest to our answer, within three months of the video uploading will receive one of the very last copies of my book, free of charge. Leave a comment with your number, and how you estimated it (even if it is just a random guess). As long as we can then contact you to get your address we will send you a book all about nomadic architecture. There are only about 20 left unsold and this will never again be printed.
FUNDRAISER: This high building has evolved out of a very lightweight and mobile architecture that the same tribe use in the semi-desert regions to the north. We need to raise $5,000 to return to make a full record of this building type. We are open to sponsorships, or would even take a guest with us if you will cover the costs, fancy a trip of a lifetime working on a really important research project?
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