| Show COPPER INDUSTRY MUST i HAVE protective TARIFF Jai midi mich copper mining inthe united states will not be able to participate in the benefits of future bettor business conditions unless tho the Ind industry lISTY is given tariff protection Is 1 a the he t opinion of williab 11 schacht president of the copper range co company in ile he said that at the present time the future of copper production in III this country cannot be looked upon with enthusiasm and emphasized the necessity of a tariff as the only practicable I 1 means meana to enable the Indu industry to avoid being at the ill mercy ol of such I 1 foreign cartels which in recent years occasioned dc casio ned anxiety concerning this 1 nations supplies of rubber ru blier tin and 0 ther other commodities obviously the first change for the better better in the copper producing industry of this country is expected ahen lien better business conditions return president schacht said this would of course occasion a substantial increase in copper consumption hut but without a tariff on copper however the mines in this country would not be able to share in any benefits si as foreign copper can be made so cheap that without a tariff it will be mined and set sold at prices so low that chati our mines will have hava to continue on a greatly curtailed basis at the very best an improvement in business activity would serve to keep american production from being still further reduced foreign production which has been substantially unchanged in the last three years will again start tu to increase and could be increased just as rapidly as increasing consumption would require in spite of curtailed production end and in many instances complete shutdown ot a number of properties the position of the copper industry has grown weaker and weaker not only have world stocks of copper increased bat market prices have dropped to levels hitherto of it Is realized that copper like many other commodities la Is suffering from the ailments of business in general but in the face of increasing cr competition from foreign fields it Is difficult to expect a reasonable ap prec tation oven even upon the return of business to normalcy returns on an the mining of if copper B should hould be adequate to provide more than the living wage for its employees and fair returns to its stockholders who have faithfully invested large I 1 alms of money in property and equipment A forecast of future events in the industry Is difficult to make at this time the trend of events in the recent past Is ii most likely to lead to a borrest conclusion as tot cef future this trend shows clearly that a tariff in copper Is needed to prevent the american Ameil can industry from being in great part destroyed it if our consumers turn moro more an and a more to foreign copper tor for their requirements quire ments it will voll not preserve any assets in the form of ined ore reserves tor for the future benefit ot of this country because mines which are forced to close are thereby changed from an asset into a liability there la Is no doubt but what the principal producers have adequate reserves f ully fully developed although under american standards of living they cannot be operated at a profit in the face of unrestricted foreign competition it if these mines are able to continue in operation their present reserves and others found in adjacent areas during the course of active work will enable the united states norm 0 oly ny to supply the bulk of its needs tor for generations to come moreover the incentive towards the development of promising properties and general exploration work cannoa cannot be disregarded only thus can we aveld being some day soon boon at the mercy ot of foreign cartels such as not long ago occasioned great anxiety as to our supplies of 0 rubber tin and other basic commodities in the remote contingency ot of military activity a sate safe domestic source dt df copper Is rot not an economic question so much ot of it Is a basic need on the ground ot of self preservation |
