The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-07-01
EUROPEAN WAR is A COPPER
WAR
(Jones & Baker, Chicago)

(Jones & Baker, Chicag0)
The European war has beer allied
a gold war, and in certain restricted
be waged on credit for time, or IN
silver basis, as did Japan, but with
the supply of copper entirely cut on,
there could be no war as modern war
fare is conducted Hence the present
conflict is, as a matter of fact, a cop
per war.
This is because copper enters into
the composition of almost all of the
munitions of war. The projectiles of
the big guns, for example, are encir-
cled at the base with a band of copper
which, when the gun is fired, expands
and grips the rifling of the gun, caus-
ing the shell to rotate. The most i'm
portant use, however is that in con-
nection with small arm ammunition,
which must be made of solid drawn
brass. This requires, according to the
figures of experts, about 400 tons of
copper daily, or at the rate of approx
imately 10000 tons annually
The curtailing of the production of
copper at the beginning of war was
the natural result of the unusual con-
ditions that prevailed in commercial
and financial circles here and abroad.
1t was clear however, to those who
gave the matter serious consideration
that the war could not destroy our
copper producing industry, but sim
ply delay it. None of the splendid
prospects of the industry can be de-
stroyed because the world has scarce
ly entered the electrical stage that is
already requiring copper in constant
ly increasing quantities.
The serious curtailment of produc-
ton was actually of short duration
and at the present time production is
running around 80 per cent of prac-
tical maximum of "a per cent The
significant point in this connection,
moreover, is the fact that the domestic
consumption is constantly increasing
and is figured to be running around 70
per cent at the present time.
What, then, will be the results fol-
lowing the war? A copper shortage
which will tax our production to the
limit, with prices that may reach 30
cents a pound, in the opinion Of the
best authorities on the copper situa-
ton. Undoubtedly all Of the belliger-
ent nations will require enormous
amounts of copper for rebuilding, and
they must rebuild and rebuild quickly,
whatever the outcome of the war In
order to again secure a fair portion Of
the worlds business that they have
lost by reason of the war.
In this connection, attention Is CALI
ed to the fact that except for few
comparatively short periods of bust
ness depression, there has never been
enough copper to supply the worlds
requirements at prices which repre-
sent less than a fair profit to the pro-
ducers It is also interesting to npte
that copper has invariably commanded
high prices toward the ends and fol-
lowing recent wars. In 1854, for ex-
ample, 1t sold at a high of IS cents .
pound and a low of 80 cents, as ,.om.
uared with a high of 81 cents AID a
low of 171k cents In 1861.
The average cost of production OF
the last 10 years has been 9A cents
and the average price 14h cents the
average profit being over SO per cent
Consider then the large proportion OF
profits accruing with every cent adj
vance in price and buy some " the
copper stocks for investment returns
and large speculative profits, After
the war will be too late.