Word: coppers
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Dates: during 1940-1949
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...other choice is to import the extra copper. Imports are now kept out by a 4? tariff; since Chilean copper is priced in U. S. ports at 10? a pound, it cannot compete with domestic when domestic is less than 14?. First to plump for tariff reduction in the present emergency was one of the trade's stanchest Willkiemen, blond, conservative Fabricator C. Donald Dallas of Revere Copper and Brass, Inc. On the very September day that Wendell Willkie spoke against low copper prices in Anaconda's Butte, Fabricator Dallas spoke for a 12? ceiling in order...
...last month, the Defense Commission had made its choice. By this week it had translated its choice into action. Mr. Dallas' proposal-in principle-won. Next month some 12-15,000 tons of Chilean copper will arrive at Atlantic ports...
...Whom. Since the Defense Commission has nothing but advisory power, the steps by which it is getting this copper were not simple. They make an enlightening case history in the politico-economics of defense...
Main objection to this transaction, of course, comes from the high-cost domestic producers, who do not like to see their Government buying foreign copper (and selling it at a 2? profit) rather than theirs. The only philosophy for their wounds is New Deal Pan-Americanism: countries like Chile, in this emergency, in some respects deserve the status of a 49th State. Chile's copper economy depended on lost European markets; France took 121,000 tons in the first four months of 1940, had 100,000 tons more on order when Hitler put her out of business. Chile...
Diplomacy had one other interest in the Henderson copper deal this week. Chile is afraid of great British Rhokara and Katanga mines in Africa, whose lower labor costs enable them to produce for as little as 2½?a pound. To protect Chile against being crowded by Africa in the new tariff-circumventing U. S. market, the British may recognize the U. S.'s special hemispheric relationship with Chile, agree to forget about the U. S. market...