The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-07-08
VDsT CEASE THIS
| TROUBLE RAISING
D,uisI Guggenheim Tells the
Nation How to Realize
Upon Resources.
OUR HOSTILE YEARS
bur Capital and Energy Are
Going Elsewhere to Reap
Their Reward.
DIR HOSTILE YEARS

arj.l Guggenheim sailed for Europe
A..rday. He will spend several months
me continent looking after European
,seial interests of his companies, says
J Boston News Bureau OF July 3.
Ne Guggenheim spoke at length On the
.;rstriai and economic situation in this
ratry. He compared backwardness Of
.siness 10 the United States to the pros
,yty which Europe Is enjoying and Bit
~ assailed the prevailing antagonism
sespltal as being the reason that Amsr-
4 ls not prospecting equally with the
a OF the world He said in part:
sAbout year ago, when ! left on my
.eua trip abroad. spoke rather pessi-
-|rtiraIly OF business conditions as then
.s them. I particularly pointed out that
A part OF the copper interests OF the
rpiry which caused the unnatural and
-brofjtable depression in prices which at
a time prevailed. was likely to be sue
s>dsd By a runaway market at advanced
scss which would be equally TO the dis
gsntage. finally. Of both the producer
a the consumer Of copper.
Eseds of Nation.
NE now have AZ see &c. prenatal pros
XIV, which. II allowed TO be born. will.
telieve, grow into tho greatest this
ntry has ever experienced. VIII II be
rmltted to come into being, and. II 20,
Il be permitted 10 reach maturity?
hess present unreasonable antagonism TO
present unreasonable antagoulsm to
Xrlta ceases. the answer must be In the
|3tiye In both cases. These great
lled States are only developed to
-tet extent in comparison with the de-
rpment which would be reached II II
a not unnaturally interfercd with BY
ssos OF this interference, money OF this
cntry Is being loaned TO Germany. and
being used To assist In the financing
China and in development OF South
.rsncs, and many Of our farmers are
X|7ating 10 Canada and developing II.
d not only should also. as we have done
he past. bc borrowing money from
kE parts OF the world at low rates OF
|gest for that purpose. Because OF tho
X.ical situation and OF tho hostile atti-
a Of the country towards capital for
ID Countries that formerly loaned us
nsy In large amounts and made large
X,.hases OF our securities, are now re-
.rg 10 do so on as favorable terms as
msrly.
. Ia have had four years OF bitter and
.sasoning hostility to capital. and the
Ii s painfully apparent while the
I'd countries OF England. Germany ana
*rce have had enormous prosperity, We
b greater natural resources than those
M Countries combined but we have been
InE our capital away and II mas bech
'wd In building UP other countries,
Ad Of being employed in tho develop
OF our own
10 Alaska.
he have at our doors the empire OF
liza. am wondering what Germany,
nee or England would do In case tney
nM H. am confident that WITHIN
or ten years after thousand miIes
nllroad are constructed in AlasKa' tnat
ffi,ory will produce from two to three
.nartd millions OF dollars annually; and
Atas 300 miles Of railroad could be built
N an Interest cost and authorization
lane 10 the United States government
"A say. twelve hundred thousand 10
1lHon and halt dollars annually. hall
n which could be saved by the govern
rsst In supplying It's navy with fuel at
.>1ntm cost. instesd OF purchasing this
~ at high prices. as we now DO from
stiGners at whose mercy wo would De
lines Of stress.
~ Alaska is to be developed the gov
1irent must build the railroads; private
ierpnse refuses 10 do so because of
~ that II VIII he taxed 70 death and
y the government will not allow II TO
m fair return
We need in craftsmanship and in
!nce constructive policies and har-
onlous management OF affairs. Nitup-
lion never made friend and unfair
iclsm never made dollar.
5pper Outlook.
AZ 10 copper. Surely a constructive
'cy could do much in this direction,
ny Judgment the stabilizing of the
OF copper at o point fairly profitable
pronucer and satisfactory to manufac-
~ and buyer would be OF incalculable
sh'age 10 the people of the United
es This could, think, be readily
os the miner. manufacturer and
cnoser getting together and agreeing
.. po!icy that would be mutually ad-
'sseons, but In the present attitude OF
spFerninent and Of public sentiment
eonid not be done. The people and
ras,ions concerned would at once be
sen with violating the antitrust
Ia anu u Indictments and prosecutions
~ follow, No one is willing TO run
rlsk- and yet. In no other way can
asnnstural depression In copper which
aa Tor some years up to a short
,,Seo and runaway market be pre-
nd,mony should be the watchword
IN. VIII be no difficulty. with our mar
<ssn resources, In having the greatest
HON. i''at can IAN 10 any
Just Out.
b. g.