The sun., 1910-01-09
UNCLE SAM AND COPPER MEN
DANIEL GUGGENHEIM WANTS
PRICES STABLEIZED.

Tn'Ok',he % Go,ern"en. should Eneour.se
Regulation OG PrOaRctIOn aNsl the Flx.
ing "f Prices by Mutual Agreement.
President Daniel Guggenheim of the
American Smeiting and Refining Com
many gave out yesterday an interview
in which he ssid that many changes would
Nave TO be made in the business methods
of the copper producers of this count ~. .
Hs said that European Governments and
prodncers of various commodities needed
here were combining to limit production
and sell to the United States at the highest
possihlc prices.
'Our aim seems To he To sell our prod
ucs. especially copper, TO European
Consumers at panic prices, continued
President Guggenheim. The people Of
the United States are throwing away
millions Of dollars every year wasting the
mineral resources OF this country by this
bad economic policy and some means
should he devised whereby this unsatis-
factory condition may be done away
swSh. ~, ,:n,..OA.,,o SHOVE, by, .,,,,.,,o. .
thst 4 considerable part OF the production
Of copper in this country is costing nearly
a. much as the market price. I'm other
words. he said. 'the supplies Of the mines
which can he measured and which are
not inexhaustihle by ang means are being
depleted with no measurable profit to
the po'uuer." $50
f~n advocating that the Government
shou'd take hand. he said;
While ! deprecate all unnecessary in
,,rish AZ
part of our Government. vel appreciate
this ne ressiiy and cannot but admire the
results which have been attained by the
German Government In its Efforts to
foster the welfare OF German commerce.
Many articles OF German production. like
sshr copper. are largely exported, and the
orernncnt OF Germany has taken
very lively interest in so regulating the
production and sale of such articles. as
TO bring about al great a return TO the
German Empire from the exports as the
economic situation would warrant. even
to encouraging and fostering combina-
tons for the regulation and production
and The fixing OF the prices by mutual
Agreement. Such stableized prices should
MrIhe copper Industry be sufficient 40 to
profit even to miners showing the higher
cost. Otherwise the incentive will not
be given to seek for the original prospect,
and the risk will not be taken during the
long years necessarily elapsing between
the prospect and the products. Mining
under the best Of circumstances is a
soInewhat uncertain industry. To this
must be added the years Of waiting and
the enormous outlay OF capital required
before any return is made 10 the in
vestor.r
Mr.. Guegenheim added that the price
of copper metal should not be made a
natter OF speculation and that great good
WOULD come to the capitalist producer
and consumer II the price Of copper was
stableized- =,
The decentralization caused in the
past in the manufacturing industry using
copper by such excessive prices as 25 cents
a pound and the, losses in subsequent
decline to ~ cents are fresh in our minds.
Such excessive fiuctuation in value result
in serious injury to the whole community.
The advantages OF a stable or fairly as
sured price are beyond dispute. The
enormous capital required to develop a
tffospect to a producing mine and 20 build
he necessary reduction works with rail-
road connection should he more readily
attained at y greatly reduced risk. The
spirit Of speculation which is engeudered
in connection with such radical advances
in prices Is most unhealthful.s land on the
decline those are sure TO lose who are
least able to do So"