Salt Lake Telegram | 1937-02-22 | Page 13 | Glut of Copper, Reduced Prices Seen in Offing

GLUT OF COPPER, REDUCED PRICES SEEIIJHOFFIIIG Economist Fears Rise May Overs timulate ' Production ' A flooding of the world with copper cop-per and a resultant slump In price waa predicted Monday by John T. Flynn, noted economist-Journalist, In Salt Laks City on lecture tour. "Copper people are happy bow, with a 16-cent price, he said. "Every time there la a rise at I oent, low coat producers will coma into operation, and the first thing we know the world will be flooded with oopper. "That la exactly what happened when copper went to S cents. There waa a collapse. Now we are getting ready to do It again." Bees Slump li UM The United States win be "enjoying" "enjoy-ing" another depression by 1840, Mr. Flynn also predicted. "Present recovery la baaed entirely on government money' and la an-wholesoms," an-wholesoms," he asserted. "The beginning be-ginning of the end of' this' upturn will come with a spurt In commodity commod-ity prices. This rise already haa started and will go on until the commodity groupa collapse. Then, other things will sag. "It la important to check this current cur-rent rise, but no one wants to dolt" Government Repeats - -Mr. Flynn saw no startling Innovation Inno-vation In policies of the present administration, at least when compared com-pared to undertakings of past gov . emments. "Oovernment does the same thing over and over again," hs said. "For Instance, efforts are being made for another augar agreement, to get prices up and restrict production. It hss been dons before and it won't work." Mr. Flynn said there will Bet be anothsr "big boom" hi businssa because be-cause the "government la going to try to stop borrowing and there will be a tendency to taper off." He addressed the third In a series . of Town Hall meetings at the Hotel , Utah Sunday night, wui speaa in Provo Monday night and at the Utah StaU Agricultural college at Logan-Tuesday. Logan-Tuesday. i Expects Slump . V, JOHX T. FLTNlf Warns oa New Depreaeioa