The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1922-01-05
THE FUTURE OF COPPER
ANDTHEWORLD' SUPPLY
DISCUSSION OF METAL BEFORE,
DURING AND SINCE
THE WAR.

(From address by }. Park Charming
\ before Columbia University post
American legion. on December 49,
The statement is often made tina
the copper companies profiteered a
the expense of the country during the
war l wish most emphatically to OBJ
ject to this statement In 1914, JUS
before the outbreak of the war, the
price Of copper was 14c per h. Il
gradually went up until in 1916 ano
1917 it reached S1hc per ID. Soon
after we entered the war copper pro-
ducers voluntarily stabilized the price
of copper at 2Shc, a reduction of Sc
from the market price. and this price
continued until the middle of 1918
when the cost of smelling and refining
increased so much that the price was
raised TO 26c. Had free market been
left 1 have no doubt that all of the
copper produced could have been sold
at over soc per Id.
During the war period there was a
marked increase in the cost of putting
copper on the market; labor went up
and its efficiency fell off; material,
freight and taxes went out of sight
and if to these costs had been added
the extra copper lost in waste or tail
ing from the concentration the margin
OF profit would not have been above
normal.
Because, during the war, the mines
in the United States increased their
production from approximately one
billion pounds to two billion pounds,
the claim has lately been made that
we are over equipped for the produc-
ton of copper While there may be
some truth in this, | believe the state
meme is net sound During the war
this tremendous production of copper
was obtained by mining the richer
portions of the Orebodies and also by
forcing the concentrators beyond their
economic capacity A mill which eco
nomically could treat 5000 tons a day
was forced up to 1000 tons or 5000
tons a day, the ore was not ground
fine enough, and the result was that
the loss in the tailings or rejected ma
terial was way above normal In 9TH
er words, during the war we were
using the cream. 1 believe that the
capacity of the United States today
for normal production is about equal
to what should be the normal con-
sumption in the United States, plus
its exports
Electric Development.
1t is always difficult to predict the
future. If we had all of the factors at
our disposal pure logic would give us
the result. Unfortunately, we have
not. We know the capacity for pro-
duction in the world and we, of course,
in a general way, know the capacity
OF the world for consumption. There
is before us a great era of develop
ment of hydro electric power, both in
the United States and in Europe. |
France and Italy are both developing
their power in the Alps. 1t is a vital
question with Italy, for she has no |
coal. France is determined to build |
new industrial center protected from !
Germany by the Alps. Japan is going
in for the development of electric
power and its distribution, and in the
United States the recent congressional
action permitting the development of
water power under the supervision OF
the federal power commission has re-
suited in the application for rights ag-
gregating many millions of horse
power. A great number of these prof.
scts undoubtedly will be installed and
they will all need enormous amounts
IF copper.
The surplus of copper in the United
states left over from the war is being
.apidly reduced and it is quite possible
hat in the early part of 1922 we may
ind it entirely gone. 1t will take time
or the mines TO gather together their
and get up production, and
wen after they get going it will take
rom three to four months before the
copper is in the final form for con- 2
My opinion is that the price OF cop
'er will stabilize itself at somewhere
~ NilC hSi6 AUOAAAOOQ VI AoN. As a
Ihole. taking into consideration the
United supplies of copper in the world
nd the enormous potential uses for it,
feel optimistic on the situation. We /,
lust all realize, however, that in pre-
ar times Germany was one of the
lrgest consumers of copper, not only
,r herself but also in the manufac- =
ire of various articles which she y
lipped abroad, and unless industrial "
)nditions in Germany become normal -
lis former big customer of ours can
Ot take her regular supply. But when
lie time does come not only will she
sed it for current purposes but also -
replace the large amount of copper
hich, during the war, she used up a.
r munition purposes. We must real u
e that the world is one industrial
lit and that until this unity is re- VI
ored production and trade will not y"
ach its fun fruition. -
Review Of Copper Mining. y,
81,