ABSTRACT
As a temporary measure to solve a short-term problem, the ITC could count on a great deal of support but as it became a more permanent feature of the industry, its policies proved much more controversial. Working towards equilibrium where none existed was comparatively easy, especially when all agreed that stocks were too high and prices too low. Trying to define an equilibrium and then maintain it was much more difficult, especially in the face of new destabilizing forces. Prices became controversial. Metal brokers fought against stock control. Uncontrolled production emerged as a potential threat. Even production under control became unpredictable as the Chaco war began to affect Bolivia. However, the ITC now had some experience on which to draw, as it tried to bring stability to the industry in the face of a deteriorating external political environment.
