The copper era and Morenci leader., 1921-07-01

wonderful place, where the games take money away from the fools who go there and give it to Prince Mon- aco, who uses it in a wonderful lab oratory for the study of the ocean world. In Paris, MT. Douglas had the pleasure of meeting General Henry T. Allen, who is commanding the Ame- rican army at Coblentz. At the urgent request of General Allen he visited Coblentz and said that he found the American troops there to be in wonderful fine condition and conducting themselves in manner which reflects credit on this country.
 Europe Making Slow Recovery
 MT. Douglas said that France and Belgium are both making some pro- gross towards recovery from the ter rible war effects left upon them after the armistice, but they are suffering from serious handicaps, one of the most serious, in the opinion of MT. Douglas being the failure of this country to assume all it's duties to the world by the prompt ratification of the peace treaty and league of na- tions in September, 1919 when it was submitted to the United States con- gross by President Wilson.
 Of course the ratification of the league of nations by the United States would not have cured all the ills which have been bearing down on France, Italy, Belgium and England, { but it would have assured the aid of this country in the final settlement of the many complications which have resulted in holding back the re- construction of the world from the effects of the world war.
 France, Italy, and Belgium may be said to have now arrived at mental normaley and are going about the re- surection of their industries in sys- tematic manner, though they are be- ing held back, in my opinion, by the failure of the United States to become a member of the league of nations. If this had been done the machinery would have been provided for the re- mobilization of the financial condition of the world which would have oper- . ated effectively with the aid of the i United States.
 Ten months ago the financiers of the world met at Brussels to consider the state into which the world fin ances had arrived, but in that meet ing the United States the greatest creditor nation in the world, had no representative, said MT. Douglas, he ! ofrerin2 htiS as an incident showing that this country had been neglectfu1 i in caring for it's own interest.
 The Copper Situation
 Mr. Douglas on being asked for an opinion as to the present copper sit ration, shrugged his shoulders in the familiar way he has of expressing doubt. He said that neither the sales nor the price of copper showed any material improvement since the pro- duction of copper was stopped in this country two months ago. Last month the Phelps Ddge corporation, selling for a number of producers besides | themselves, disposed of consider able amount of the red metal, but aside from these sales, little was sold by. other companies. He said that the tax burden now resting on copper ! producers as on all other industries, was a serious handicap and that as the taxes must be considered in cost of producing copper MT. Douglas said that any estimate as to when the 1 local smelters would resume activity would be mere guess. It is hardly probable that there will be much ac tivity in the production of copper dur ing the present year.
 This country must rely on impro ! vement of foreign countries for busi 1 ness WHICH Will IGSIOIc plOoPOilIy here, said MT. Douglas. He said that in New York harbor today there were $50 cargo steamers awaiting to be loaded but with the foreign coun tries unable to buy our products, be cause of lack of reasonable exchange rates, it can be sen that until ouI country gets into position to help the countries needing our products, We cannot expect any industrial booms here.
 Mir. Douglas will leave in few days for Jerome, the home of the United Verde Extension Mining com pany. where he has not been for foul months. He said he was glad to learr hat the business men of Douglas are holding up under present conditions with little, if any, future. He said that the future would bring back the
 prosperity of former years, but that
 it is a matter of conjecture as tt
 when the activities of the industrie: of .he country will be revived ant , put back to the normalcy of few years past and before the war.