Bisbee daily review., 1918-03-10
SHATTUCK POINTS 10 FUTURE NEEDS
 OF MANY METALS
Bisbee Mine Manager De clares Metal Demands Fol lowing Close of War Will Be Enormously Larger

Qlcl llldL dlter lue cOmluS OI pedCS copper and silver prices will slump and hard times will settle down upon the mines of Arizona and New Mex ico, comes L. C. Shattuck. one of the foremost mining operators of the west and a banker besides. It is his opin- ion that the world must have large quantities of precious metals in fu- ture years. Even before the end Of the war the world will need metal for coinage as never before. He re- gards the discovery of new silver bod ies as one of the urgent needs of the hour
 The world is being flooded with cur rency. Metallic money has almost disappeared from Germany; England and France are short of it. The South American countries need it. The Unit ed States has most of the gold and silver money in the world, but still lacks ample supply for commercial purposes. Now and again bankers is- sue grave warnings against a tenden- cy in this country to issue too much paper; that is to say, so much paper that it's gold covering is "toO thin"
 
 this country there must be a gold dol lar to redeem it Only by the guar antee of ready redemption can cur rency be made sound.
 Gold Scarce
 But gold Is hard to get and harder still to keep. Pressing needs of the war compel the use of great quantities of gold It is the one universal me sl .f e aavsI money finds no great favor in another country, but gold is universally ac- cepted. A S10 gold piece is worth its weight anywhere in the civilized world Generally speaking, silver coin is almost as good.
 But with available stocks of gold be- ing used mostly to furnish a sound basis for exchange. and with silver insufficient to satisfy the needs of commerce, what is required? More gold and more silver. If these cannot be produced in sufficient quantity, then more copper for coinage pur- poses. In Germany iron is being used for coinage. It is MT. Shattuck's be- lief that after-war exigencies win make copper and iron warrants, issued on stocks of the metal, as readily ne soitable as gold and silver. Note that this goes beyond mere coinage of cop per and iron. It means the issuance of currency based on copper and iron.
 Building Era
 Not every one realizes what the end of the war will bring to the world. It will be followed by the greatest era of building and rebuilding the world has ever seen; greater, every one hopes, than the world will ever see again. Whole cities of Europe must be built from the ground up and countless towns. Other cities and towns must be rebuilt in part. In it's way the peace task of reconstruction will be almost as great as has been the war task of demolition, and more costly in money. for it costs more to upbuild than to tear down. Then, there must be a great program of ship building and railroad construction.
 In those countries which have not suffered physical ravishment of war. construction and reconstruction will take place. Factories must be changed over from making war materials to making peace materials. This one re- Quirement will call for vast quantities of iron, steel, copper, brass. nickel, and even silver One might write thousands of words on the changes which the end of the war will bring. but the above will suffice for illustra- ton.
 Metal Demand
 The work will require great quanti- ties of metal for materials and other large amounts of money. Money is the prime need. After the war nations will turn in every direction for mon ey and they must have metallic mon ev. Paper money for international use will not suffice. Germany must seno abroad for huge stocks of those mate rials of which the central empires have long since been exhausted Will Germany's endless issues of paper be of value abroad? They will not. Ger many must plank down the hard cash So much for other countries. The United States is a little better situ- ated than any other country in that respect, for America has most of the metallic money in the world and most of the metal stocks as well. Still, our own demands for metal materials and coin will not be inconsiderable.
 Mir Shattuck holds that every mine should hold it's working forces up to the maximum in numbers and eff cciency, and should strive constantly to increase its production and the economy of it's methods. There is nc end in sight for the great demand for copper and other metals. Certainly. the end of the war will not termi- nate it.