White Pine news. [volume] (East Ely, Nev.) 1920-1923, 1921-08-21
NEVADA M|N|NGlON
EVE OF PROSPERITY

With the exception OF copper, min
ing as an industry is on the eve o.
prosperity and stimulated activity
according to j. h. Callbreath, secre
tary of the American Mining Con
sress. who arrived in Salt Lake City
Tuesday. Copper mining, he said
would probably not undergo a change
FOR a year. But aside from copper
the views OF Mr.. Callbreath were
most optimistic and should spell hope
To such districts as are at present
suffering from the stagnation of the
copper industry but which have other
ores n sufficient body TO be mined
to advantage and help tide over the
situation until the copper business
comes back.
Mr.. Callbreath believes hat mines
are made. not found: that is, where
large mineral deposits are developed
mining is not a gamble but an in
dustrial enterprise the success OF
which depends upon good manage
Inent and adequate financing. AS
viewed by him. investors should be
educated to the fact that there is a
vast difference between investing in
a mine and aiding in the financing OF
a prospect: that about twenty out of
every hundred prospects are worth
a second look and on the average
only n out of the latter number
ever become profitable ventures.
The length of time necessary for
the copper dmand to return 10
NAL Will depend largely, according
to Mr.. Callbreath. upon the nature
of aid extended to foreign countries.
which at this time need the red
metal worse than at any time in
their history. However. economic
conditions abroad are such that cop
per cannot be purchased from Amer
lea because OF a lack of gold
The mere fact. in Mr.. Callbreath's
opinion. that the United States holds
the greater part OF the worlds stock
OF gold is undesirable from an eco
nomic standpoint. in that it prevents
Europe from financing purchases Of
the surplus OF American metals and
goods. Steps will have to be taken
to remedy this situation, he thinks,
before conditions will improve either
Mt home or abroad.
However. during the last few
months, according TO Mr.. callbreath,
there have been a number of o
aging signs. One of these is that
hiiaAitiCAo Ait DtdIulnB
projects in Europe which will oper-
ate both to distribute the worlds
gold reserve more evenly and create
a demand for domestic products
abroad. Becaues of the great need
for copper in all the foreign coun-
tries for immediate use. and the de-
mand that will arise for the red
metal with construction of huge hy-
droelectric projects and the %electri-
fication OF railroads aud other indus
tries, Mr.. Callbreath believes once
that conditions urn toward formal
an era of great prosperity will begin
tor red metal producing properties.
The new tariff. especially as relat.
ing TO the metal industry, will. IL
passed, not only act to stabilize min
ing. but every other business as well.
according TO Mr.. Callbreath. Duties
to be imposed by the new tariff have
been so devised, according to Mr..
Callbreath, as to insure maximum
production of metals and fair costs
10 consumer. By assembling "a vast
amount of statistics relating to min
Ing and manufacturing. mining con
GresS experts were able TO show to
the house ways and means committee
That, with metals unprotected, there
Is Il great fiuctuation of price. owing
to the operation OF the law of sup
ply and demand.
The manufacturer. confronted with
such a chaotic condition. naturally
for his own protection bases his costs
upon the highest prices of the raw
product. AS a result. according to
Mr.. Callbreath, even with raw prod
ucts inadequately protected and sub.
iected TO competition with foreign
exports. the consumer pays a higher
price for the finished product than