Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1920-06-09
OUR WASt1INGTONLETTER

lNe IL TdllrOaQ DrOtherhOOdS and
unions as to the respectable prosper.
ity Of their employers. For these cop
per companies picked the pocket of
the American people-under so-called
government regulation during the war
years-to the tune of about $35O,0OO,-
600.
Lauck, who is internationally ia
nous as an industrial expert, declares
that profits in various forms made up
more than one-half the price of cop
per.
I'm fact" he says, 1.-The amount re-
ceived by capital is larger than the en-
tire cost of producing the copper, in
Guiding transportation, marketing and
charges for depletion and depreciation.
The IA leading copper companies
which publish their annual reports
showed combined net earnings during
1916-17-18 approximately three times
as large as during the pre-war PERIOD
1912-13-14. This group of companies
produced about two thirds of the total
amount of copper smelte6 from do
nestle ores, and includes concerns
ranging in size from the Anaconda
company, with $116,562,5oO worth Of
capital stock in 1918, to the Ahmeck
Mining company, with $1,25O,OOO capt.
tai stock.
"The| profits steadily mounted from
1877 on the capital stock of 81 per cent
during the war period. This is an in
dex of thu merciless profteering of
these companies. Pre-war profits had
been very high and liberal. But still
the copper kings took advantage of
the war period to triple their earn
ings."
What should make the copper min
ers happy and contented is the state
ment by Lauck that when the COM
panies were getting. "a cents for a
pound of copper, and when the total
cost of producing copper was about
Is cents pound, labor got about %
per cent of that 13 cents, or nearly 3
cents.
A SHIP SUBSIDY JOKER
Ship subsidy has been put over" in
the merchant marine bill, which is
now in conference Of the two houses of
congress.
Nobody discovered it until the
senate had acted-just as nobody
learned of the Wadsworth industrial
CONSUMPTION joker in the army reor-
ganization bill until that scheme was
in conference. The CONSUMPTION trick
has been killed, thanks to a loud out
cry from all over the nation. Possibly
the ship subsidy will not be so unfor-
tunate.
Section 81 of the bill-H. r. 1O3O8-
has the effect of abrogating all trea-
ties with foreign governments which
provide against a discriminatory duty
on goods brought to our ports in ships
under foreign flags. This brings auto
matically into effect subdivision J,
paragraph z, section w. of the reve-
nue. act of 1913, which provides that
goods entering our ports under for
eign flags shall pay special duty of
10 per cent; also that goods entering
in ships under the American flag shall
OO gwen q y pei NOAL O1SCOuuL Oh zoe
normal duty.
This will cause importers to pay a
heavy premium for cargo space in
American vessels, and the ship owners
or shipping companies will absorb the
special profit of subsidy OF course
the American consumer will foot the
bill, and the consumer of goods enter.
ing in American or foreign operated
vessels will pay the same inflated
prices.
PACKER LEGISLATION
Latest news from the senate is that
the Republican steering committee is
willing to have the much-compromised
packer control bill come up on the
floor, provided it is fully understood
tnat 1t is not to be seriously debated
until after the national convention Is
over.
Senator Lodge made this plain in 9
discussion with Senator Kenyon on
Friday.
SCARED BY NONPARTIsANs?
Congressman Joseph Walsh of New
Bedford, Mass, Republican, who seeks
to inherit the junker leadership in the
house from Uncle Joe Cannon, is dia
metrically opposed to the political ant
economic views of Senator David I
| Walsh of Boston, Democrat.
While the senator was making {
speech denouncing the doubling of thu
price Of soft coal by the coal oper
ators, the congressman was blockin,
the passage Of the Volstead compro
mise of the Capper-Hersmann bill
which undertakes to permit farmer
to operate cooperative selling agen
cies, provided they do not make owe
8 per cent profit on the stock. Con
gresham Walsh tainted Representa-
tive Volstead with having been fright
ened by the invasion of his district b.
the Nonpartisan league. He suggest
eG that It was up to Volstead to stan,
Dy his reactionary friends, and not t.
yield any concessions to the danger
GUS propaganda" of the farmers
movement, nor run to cover" 1ust be
fore the congressional recess.