Show Optimism in Mining Circles Fades as Seaton Suggests Subsidy Plan A momentary optimism I In mining circles last week caused cams caus ed by the Tariff Committee Committees s I h helpful l r recommendations w was a s I quickly squelched by announce announcement announcement announcement ment from Fred Seaton Secretary Secretary Secre Secre- I tary of the Interior that he he- he I w with Ith the Presidents President's approval approval- Intended to substitute a subsidy plan who know mining were unanimous In calling the tho I I subsidy plan a 1 sham far short shore f actual needs of or the industry I I Feeling In the community is I u best summed Up tap In the following editorial from The Salt Lake Laic Tribune of Wednesday April 30 Subsidy Plan a Sham It is obvious the long awaited administration program for or helpIng help help- Ing the depressed domestic min mining mining ing Industry Is going to give lit little lit tie tle If any help I Utah mining spokesmen were I Unanimous In rejecting the proposal pro made by Secretary of th the th thI I Interior Seaton to Congress on Monday They were keenly disappointed disappointed dis dis- appointed at the Indication President Pres ident Eisenhower was not going icing to follow rollow the Tariff Commissions Commission's recommendations for tariff relief for the zinc lead-zinc Industry And they seemed convinced the promised promised prom prom- subsidy was not enough to revive rev zinc lead mining In Utah and would be of little value to domestic copper mining Secretary Seaton told told- told the the Senate Senate Senate Sen Sen- ate Interior Committee his program pro pro- gram has the Presidents President's app oval ov- ov al He said It would stabilize mining by giving federal pay payments payments pay pay- ments to make up the difference between domestic market price and a fixed stabilization price put at nt 27 cents for copper 14 14 cents for lead and 12 cents il for zinc Very poor Plan While White Mr Seaton said his program program pro pro- gram was no mere palliative that Is the best that can be said I of It In the view of Western minIng mining min min- ing men It certainly does not attack the basic problem of competition of foreign metals produced at low cost with cheap labor And It does seem odd to see the same administration which II is at attempting attempting attempting at- at tempting t to cut or eliminate farm subsidies proposing what amounts' amounts to the same thing for metals There Is 15 good reason to ques quer question tion whether the proposed program program program pro pro- gram will be of any help to the zinc lead industry in Utah The stabilization price Is held to be berod too rod 00 low to encourage production O One e mine executive pointed out that hat the peril perU point prices of lead ead and zinc recognized by the Interior Department only last were higher than the year proposed propos propos- ed d stabilization pric prices s. s Another t termed tanned med tin the proposal the ue coop de da lIMe greed for tor Independent lade IDa pendent II mining He SAW mo ato hope of reopening his mine on the baste basis of the he Seaton plan Another executive said his mine had been operating at a loss for more than a year ear in the hope this administration would take taIce us off the hook But this Isn't the way to do it Perhaps most significant was the comment made by Chart Charles CharlesD D l general manager of the western mining division of Copper Corporation Giving 2 J. J h cents a pound for every very pound of copper cop per it sells to a fabricator at 25 cents a pound Isn't going to inc in in- In Increase c ere crease r e a a. a a e employment at our out mines he said No Employment Added It doesn't seem seem that this proposal pro will add any mining employment em in Utah and Utah and if it doesn't doesn't does doe nt do that it Is difficult to see what good it is It might conceivably con keep a little life in a mighty sick industry but it will not restore the Industry to vigorous vigorous vigorous vig vig- orous health This is a disappointing answer Indeed to a problem which has hu plagued Western mining for years and for which the administration has often promised a solution |