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The American Tobacco Company was a tobacco company founded in 1890 by J. B. Duke through a merger between a number of U.S. tobacco manufacturers including Allen and Ginter, Goodwin & Company, and Kinney Brothers. The company was one of the original 12 members of the Dow Jones Industrial Average in 1896.
Duke's father, Washington, had owned a tobacco company that his sons James and Benjamin (1855–1929) took over in the 1880s. In 1885, James Buchanan Duke acquired a license to use the first automated cigarette making machine (invented by James Albert Bonsack), and by 1890, Duke supplied 40 percent of the American cigarette market (then known as pre-rolled tobacco).
(Juan Tinio became the first middleman of the Tobacco Monopoly when it was established in 1782 and held the position for two years.) Juan Tinio's great-grandson, Mariano Tinio Santiago, was the father of Manuel Tinio.
Initially "E. Goodwin and Brother", the company was founded before the American Civil War. It was known for its cigarette brands "Gypsy Queen" and "Old Judge". In 1890, the company was merged, along with four others, into James Buchanan Duke's American Tobacco Company [1] to create an American monopoly on tobacco product manufacturing and retail.
The cultivation of tobacco as a cash crop in America marks the shift from a subsistence economy to an agrarian economy. Tobacco's desirability and value led to it being used as a currency in colonies. Tobacco was also backed by the gold standard, with an established conversion rate from tobacco to gold.
The tobacco industry comprises those persons and companies who are engaged in the growth, preparation for sale, shipment, advertisement, and distribution of tobacco and tobacco-related products. [1] It is a global industry; tobacco can grow in any warm, moist environment, which means it can be farmed on all continents except Antarctica .
Historical Marker for the Abolition of Tobacco Monopoly Laoag City, Ilocos Norte. In 1780, the tobacco monopoly was established, and the Filipinos, especially in the Ilocos and Cagayan Valley were forced to plant tobaccos and were given a specific quota to produce. Initially, tobacco farmers were treated fairly, but in the end, they abhorred ...
The tobacco leaves were then brought to Manila and made into cigars and cigarettes in government-owned factories, later to be shipped out for export. Tobacco became a major commodity in the galleon trade. [8] The tobacco monopoly made the colony self-sustaining and profit-earning. [10] In 1808, the government realized a net profit of P500,000.00.