White Pine news. [volume] (East Ely, Nev.) 1920-1923, 1920-11-14

For some weeks past stories have
been rife throughout the district With
respect to the action taken and con-
telnplated by the companies operating
here. The general trend of these
stories has been pessimistic and for
this there seems to be considerablc
foundation. but many OF them par
| ticularly with respect TO reduction In
payroll seem to have been exaggerated
Careful Investigation by a represent
ative of the NewJ reveals that during
the last week number of men have
been laid Oft In all departments OF the
Nevada Consolidated Copper Company.
The reason for this Is because OF The
low price of copper. which has been
recently at slightly under Is cents per
pound. The reduction In payroll II ap-
parentlys still continuing. but II Is not
known to what extern these reductions
will be followed up.
This business. like others Is depend
ent upon supply and demand and AZ
the present time, even at the low metal
selling price. consumers are net in the
market for substantial purchases.
The copper industry is In the same
position that woo,. cotton annd other
commodities are In. 1t would appear
tiV1n tnlS tHdt ufDdtlOu IL As common
TO copper as to the textile. cotton. wool
and other Industries: that after the
recent period of imitation and high
prices the defation will also be sub
stantial one in the case of all necas
sar;es of life.
REDt cTIONS ALI. AROUND
MIST SOLVE TIIE PROBLEM
I'm al 81. to a "A
saries OF lie must come down." but
when they 10 there will be a general
reduction al; around No article can
he sod upon the market for less than
its cost of production. When labor IL
high and production is not increased
the cost of the article produced under
sucn conditions must bring a cores
pondingiy high price upon the selling
market. By tina. same token, when
the time comes to lower all must 60
In the same elevator and oe lowered
by tn. sam. rope. II IL came to a
question as to which one should go
down first this would result In the ut
most confusion.
Until the European countries are In
position to purchase from America a
brisk marker cannot be looked for. and
this brings the people s,luariy up to
tne a;l-important question Of money.
Until the gates OF Wall street are open
ed the European countries will not be
in position to buy. no matter how
badly they may be in need OF metals.
wool. cotton or any other product. Re-
construction work in The European
countries will rea,iirc Immense auanti-
Ties o. practically everything produced
in America. and 10 America they must
turn. but they are naturally cut OF
money after the was and likewise they
find America the on.v money market
wltn n min is in ,i,.bt and las no
mon, y w..h whicn 10 meet his obliga.
lions, there Is but one way for all to
get even. He must BE- given n chance
10 work il out. II. must cat In the
mea ntine and his creditors must assist
him to that extent for .heir own pro-
lection.
FINANCIAL aCEsTsON SOLUTION
KEY To PRESENT SITUATION
Whether the policy OF the now ad-
ministratiou will be TO open the gates
OF Wall street OF 10 lock the money
up In the vaults aud then let the rest
of the world go by remains to be seen.
Just tie moment that the ali-import-
ant question OF anan.c IS settled there
will ba a market for what - produced
In this country. America must then
be able TO produce at Il price 20 warrant
sales UPON Inc markets. OF the world
This means that every minute on the
job must BE- advantageously employed
For a dollar dollar must be returned
and for minute full value must b.
received.
America finds at her ioor today tlis
opportunity Of n lifetime. Tue natural
resources arr here aud the country u
In IA position u pro.iuec. Other covn
tries. IL they have the resources must
first rebuild before thy can produce
and Cor articles necessary - so re
bu:ld they must COME to this country.
VIII the Unitc.l states now produce to
,nret .he needs and by thrift and en-
crgy produce at a cost which will. make
IL 20 ssible for other countries to pur
chase here? II this IL done prosperous
result must necessarily follow. II not
the world can look for nothing bnt
famine
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