Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1910-06-05

furious As a consequence the duty
soon became imperative so far as the
, miner was concerned, and the price
in this country fell TO that OF the
world plus the cost Of importation.
This must inevitably happen with any
protected article produced in excess
Of the home demand, unless some arti-
ficial method Of making the duty effec-
tive Is devised. The Anaconda out
pu. was in fact the principal factor
IN bringing about the drop in the
worlds frice Of copper in 1855, 1856
and 1887. which preceded the forma-
ton Of the secretan Syndicate The
fall in price was so grave as to tell
on produc ion. which, as the stats
tics show, fen Off 5.5 per cent between
1855 and 1856. The decline in price
was such that Lake copper sold Ian
guidly at ten cents, and the Copper
Queen co. made contracts for its bars
at eight cents, and even at triiie
under. The tariff gave the distressed
industry no help, but NJ. SecretaS
came TO its assistance. Onering TO
buv the output Of the mines for theree
wears at stipulated figures. lhere
was however. no understanding on
concurrent action among the Amerl-
can producers in their dealings WIN
fbe French syndicate. Some proau'
Ger, refused to sell and with each oi
tsose who did sell there was an inde-
rondent negotiation, and al by no
means received a uniform price. Lne
price paid was on an average ll'e
cents per pound higher than haa Iu'e'l
for the two previous years. The eees
~ rroduction is indicated by q rise
,-A ner cent between 1886 and lee'
ana Of 2517 during the following year
On the failure Of the syndicate ~
6,,ction was so far arrested thal 'i,e
figures for 1889 showed. for the no'o
co,,ntrv. an. increase Of only nan
miu,on But this stagnation was oniS
.a-anorarv The syndicate stocks
D.. .F
'D-.s ronidlv consumed or disposed o.
Va - ~ 1soo the price Of copper rose
- fifteen cents, and producuon -
.-oased AS per cent over uil'e -
,SSo Rut the terrible crisis OF loso
a,os at hand. and told disastrousS oD
ho.b production and prices.
- 1So2 the situation changed ! neI
IN 1870 ;,,-+ead If a decrease T
- rroduction. and the average pIloe @
tor AXE ingot fell to 50 cents -
Sc tbe staggering blow the COPE
- -. rapidlv picked up courage anu
= &C Coz rbowed a Z - per cent IN
~ -. over 500. and a rise in price %
, "a cent. This resilency, "hen -
..hoIa country was PROSTATE may na,e
nsen in spite Of or may have oeen -
S-,,1+ of the self reliance which the
a,ac;nq of copper on the free list OS
'ta Mckinley bill may have engenoei-
a Tbe nlea for punishing the cop
,er companies was that they hau 'oH
.nirea with a foreign syndicate u a.
.ieiciouslv and injuriously inflnehce
- In fact. the companie. Whlch
IA cell tot NJ. Secretan did indiNlo-
Ill What has been done before ana
.iuce. namely. sold their proouo'ioa
head to the highest bidder at a mos
empting figure. which raised nnos'
- hlighted concerns from despair III
: go circumstances. So little behe-
ne vas derived from tariff that Nhe-i
bo trade was threatened by the com
lete removal Of tariff protecuon 'lls
did not send a lobby 20
wellington or even protest. For
-. ,,rotection had ceased TO pro
cot Every large company mad ope
- E,rropean sales agency, and haa Sc
- a. own customers, and there
ore a market had been found ior 'ue
otsl American surplus, no mayle-
-h.+ IL might be if only the Worlu
- y-are accepted. The removal OF
- a,+,- therefore made no diner
noo brt the financial crisis oi 1850
IA Yet it was chiefly in the ols, +
dends. The price continued 10" IN
SOS when a wave OF hlgh pi'oe9
,ove1oned followed in 1902 py an
80 decline. This lasted for three .
- when a second wave WITHIN d
.acade of excessive price set H. ioi
owed by a relapse.
These serious vacilauons piic1
,oubtless create disturbance IN uaue
md stimulate. even if they do not or
ginate. speculative manipulation The
1nIv remedy conceivable would be a
vast combination. which would in
,lude both the mining and manufac-
turing interests, wealthy enough TO
absorb the existing companies by
tempting the weak, and so omnipo-
tent that no opposition could be start
ed without risk Of being crushed. The
Secretan schemes we're wrecked by
not placating the manufacturers Of
the world. who unearthed stocks Of
old and new copper Of surprising mag
nitude This remedy would proba-
bly, again be administered. But as
suming that such a worldwide combi- f.
nation in restraint Of trade could be I
brought about with the view of secur-
ing stability Of price, two consequen- 2
ces would follew The price would
inevitably be so high that the public
would pay very dearly for the lux
ury Of consistent uniformity in val
ue. And as a result Of high prices re- 1
duction in demand would follow. The
supply can, be controlled-the demand