West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1892-07-21
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ANOTHER COPPER TRUST.
Producers Have Agreed to ne.,r,c, r

Producers Have Agreed to Restric. FRO
duction After July 4.
The New York Daily Commercial Bull
letin of June 10 says: after n long ne
Rod OF negotiation the producers Of cop
per in Europe and the United States
have arrived ut an agreement to restrict
production after July next. The Ameri-
can producers have agreed to restrict
their exports of copper to Europe, in con-
sideration for which the Spanish produ-
GERS have pledged themselves TO cut
down their production 3 per cent. Tho
object OF this agreement is OF course to
bring about higher level of prices"
whether or not the producers can sue
ccssfhlly hold together to put prices
back where they were during the exist
cnce OF the great copper combine in
1850, IL is certain that there has been
left for them duty of III cents per
pound, which was about all Mckinley
could do to invite another copper trust to
repeat the outrage perpetrated in 1899
upon the American people. II will be
remembered that in 1880 the copper trust
sold American copper so much cheaper
In Europe that it was reimported and
sold at profit here after paying duty
OF four cents per pound, aud from April
to August, 1880, the foreign price never
exceeded eight cents and the domestic
price was never less than twelve cents.
But for the duty no such difference could
have existed and the effects of the French
syndicate upon our industries would have
been as slight as they were upon Europe-
an industries
The effect Of high prices for raw ma
terials of any kind is farreaching and
disastrous. How the consumers of con
per were affected by the high prices OF
1888 Is described by James Powell. presi-
dent of the Union Brass company, of
Cincinnati, in The Engineering and
Mining Journal of Jan. 10, 1880:
when the syndicate began brass
workers all over the country were fully
employed at good wages, and while tho
demand for goods may not have been
kept mp at all times with the same vigor.
yet the price of the raw material was
such us to afford a living profit to the
copper producer only.
THE consumption of brass goods for
steam, water and gas has fallen off from
% to 40 per cent, with no immediate
prospect OF an Improvement. The ma
nipulations of the combine have been the
most disastrous calamity for the general
copper consuming Industries of mi.
country that has ever befallen them"
Al evidence that the American end OF
this agreement" is made in good faith.
it is reported from Marquette. Mich.
that a general strike is imminent at the
great Calumet and Hecla copper mine.
The company instead Of acknowledging
openly that they intend to restrict FRO,
duction 10y closing the mine. announce
that they will discharge all employees
WHO are members of the Knights of
Labor or of any other labor organization
They know that this will not only pre-
cipitatc long struggle that will restrict
production, but it will give them an CD
portunity to utilize cheap 'scab' labor
when they are ready to resume opera
tons. and perhaps to starve some of the
strikers into accepting lower wages.