El Paso herald. (El Paso, Tex.) 1901-1931, 1919-07-12
ADMISSION OF GERMANY TRADE
Is A BIG BOON TO THE COPPER MINES

THE BEST NEWS that our neighbors over IN Arizona
\ and parts Of New Mexico have received in long
tine IS contained N Fridays announcement BY acting
secretary Of Polk that trading between the United
States and Germany viii be resumed Immediately.
Rot that southwestern people are any more friendly
toward Germans and Germany than heretofore, but they
bigger outlet for copper and Germany needs copper
The southwest produces copper huge amounts and
much interested IN seeing the red metal move into the
Copper production IN this country is greater than the
United States and the allied countries have call for at
this time. South America is supplied by Chile Arizona
produces about soooooooo pounds of the metal
year normal conditions Of production New Mexico
also produces large amount Mexican copper may al
most BE assed American copper since most Of it IS
marketed through this country. Michigan, and a few
other states Of the union produce the rest Of the copper
going the market Of the world from the northern half
Of the American continent.
Despite the stagnation the industry which followed
the withdrawal Of the governments fixed price, there has
been surprisingly little distress IN the southwest The
mines had to curtail operations In camps wage
reductions necessary. eJn Others without
families laid off but they were absorbed in other
industries or occupations Operations were almost en-
trely confined development work IN the chief mining
properties. With copper down TO Is cents pound and
production soaring improbable to continue
production on any large scale In fact most of
panies unable TO do They already had hand
in the absence Of demand and the interest and other
large stocks Of copper which they obliged to carry
charges that unsod metal put drain their reserve
funds.
4 few months ago, however, the situation began to
improve The demand for copper became greater manu-
fsctureI to that great amount Of copper was
obtsnable at the extraordinarily low Price the metal had
reached and prices went up It predicted not great
while that the price of eiecroiyc might reach 20
pound before the end Of the year. and the pre-
dction been than realized It reached 20 cents
pound before this announcement of the raising Of the
blockade with regard to copper shipments to Germany
It sooa should rise to so cents
Germany should take amount Of copper
There question that Germany needs il for the country
virtually stripped Of copper long before the ended
not only robbed the occupied territory Of every copper
wire and every copper utns procurabe, but rescrted
various devises It from neutral countries. In
1913 the last fu year trading with the United States
Germany imported $4,000 worth of copper from this
country and that only normal demand, not COM
parable to the present copper famine in Germany.
How much copper the former enemy country take
from viii depend altogether Germany's ability to
psy It There may be trouble about that France
has considered that she has first mortgage the gold
supply in Germany and has stated that the other allied
countries especially the United States, ought to be wiling
accept paper security for payment at some time
ii the future. Bet il is thing that German paper
regarded with little favor IN the United States n
France and unless banking combination somewhere
be fonnd to discount German paper the chances Of
American exporters trading much copper for German
securities not very bright It IS probable that
way VII be found to solve the problem Of financing It
VIII not greatly TO sbash the enthusiasm south
western people feel in reading the announcement that Ger
many to be allowed to back into the worlds market
and bid Tor copper
Austria also is short Of copper and Turkey and Bull
gara have had deprive themselves in order to supply
Germany. II conditions chaotic N the Black Sea
region elsewhere Russia, It IS doubtful whether