Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-10-27

the war. With its best foreign GUS
toner crippled, the copper industry
has been devoid Of booms since the
armistice.
AS to the future, Mr.. Guggenheim.
who is short, brown-eyed individual
Of So, with iron-gray hair and mus
tache, a dynamic figure of an essen
TALLY practical turn Of mind, declared:
I'VE are approaching copper age.
1t is only a matter Of time, possibly
two or five or ten years. before the
Old World will begin to adopt the
material bases of prosperity which
have been so successfully employed
in this country. Economically we are
the greatest country in the world, but
we should not boast about it. God
has been bountiful in providing us
with natural resources. AS soon as
Europe gets the money it will be in
the market on a larger scale for many
things. The people of Europe are
working theoretically. and 1t is only
a question Of time before they will be
able to come into world markets with
tremendous buying power.
Copper Demand to Expand.
"The European demand for copper
will expand greatly as the result of
Identification plans for the railroads
in Italy and in other places where
water power is available. Moreover,
I foresee the time when Europeans
| will greatly expand their telephone
and telegraph facilities in order tC
bring them up to the level of eff
cheney which prevails in this country.
when the European demand gets
fully under way you can visualize
what will happen to the copper in
61fcfrxy TIrlilo Odifxy r,riooc rro,,
orally, copper has not risen above
pre-war levels-not because of the alb
normally low European demand. This
low price is an advantage in encour-
aging the use of copper, and would
not like to see the price of the metal
go much higher-not above Is, cents a
pound.
II anticipate no copper shortage, at
least not during the next few dec
AIDES. If the price rises, it would be-
come profitable to take out copper
now left in shafts.
New properties are not found as
rapidly as when we started in busi-
ness, nearly 40 years ago. The ro-
| mantle nrospectors of the pioneering
type, who lived economically on the
chance that they might discover
something valuable, have disappeared
Instead, we have new generation Of
mining engineers, who find new prop
critics Systematically through their
knowledge of geology"
Hopeful of the Future.
In talking of the future Mr.. Guggen-
helm, who entered the smelling bust
| ness with his brothers when he was
81, appeared to be distinctly hopeful.
Il am an optimist," he confided.
II have been an optimist in the past,
have a continuation of the period of
enormous development in the United
States, though l look forward to no
boom. I recognize that there may be
some recession in the building trades,
but if there is it will not check ma
tional prosperity. There will be other
mouths to feed"
Mr.. Guggenheim, whose chief fun is
business, served in the Senate between
1907 and 1918. He then withdrew
from politics because he felt too young
to remain out of active business. He
| believes every man, especially those
older than 40. should supplement their
interest in business with hobby-to
avoid becoming set and grouchy. His
| own hobbies are travel, the acquisition
OfSfine paintings Of the old masters,
and golf. His aim, he said, is to
radiate happiness, so philanthropy
plays an important part in his life.
His pet in this field is the John Simon
Guggenheim Memorial Foundation,
which provides scholarships for ad.
vanced study abroad. 1t was started
in memory Of a son who died in 1922,