MINERAL  PRODUCTS.

25

the  English  Government  placed  a  high  export  duty  on  Malayan  tin
ores  not  going  to  some  part  of  the  British  Empire.  Such  a  thing
could  not  happen  in  Bolivia,  and  the  smelting  of  Bolivian  and  other
ores  in  this  country  would  to  some  extent,  at  any  rate,  relieve  American ­
  consumers  from  the  speculative  profits  of  the  London  market.
COPPER.
With  the  possible  exception  of  the  silver  industry,  the  copper  industry ­
  will  probably  feel  the  injurious  effects  of  the  European  war
more  seriously  than  any  other  of  the  leading  American  metal  industries. ­
  During  the  last  five  years  approximately  50  per  cent  of  the
copper  turned  out  by  American  refineries  has  been  exported  almost
entirely  to  the  countries  now  involved  in  the  European  war.  Some
of  this  copper  has  been  imported  for  metallurgical  treatment,  and
the  imports  will  probably  be  somewhat  restricted  on  account  of
shipping  conditions.
During  these  five  years,  however,  domestic  consumers  have  taken
only  about  G3  to  G7  per  cent  of  the  copper  produced  from  mines
within  the  United  States,  so  it  is  evident  that  there  must  be  a  material ­
  curtailment  of  production  while  present  conditions  prevail.
Considerable  copper  is  of  course  consumed  in  munitions  of  war  and
for  other  military  purposes,  but  the  constructive  arts  of  peace  are
far  more  favorable  for  the  copper  industry  than  the  destructive  art
of  war.
American  producers  have  already  greatly  curtailed  their  production, ­
  and  it  seems  almost  certain  that  the  output  must  be  materially
restricted  for  an  indefinite  period,  the  length  of  which  will  depend
largely  on  the  European  conditions.
Out  of  the  total  copper  exports  in  1913,  valued  at  $143,000,000,
over  $126,000,000  represented  metal  in  pigs,  ingots,  and  bars,  and
nearly  all  the  remainder  was  exported  in  plates,  sheets,  rods,  and
wire.  All  these  exports  went  to  European  countries  with  the
exception  of  about  $7,000,000  worth,  which  was  sent  mainly  to
Canada.  Both  the  imports  and  the  exports  of  articles  manufactured
of  copper  and  brass  were  comparatively  small.  The  exports  of  articles ­
  made  from  brass  amounted  to  only  about  $5,600,000,  an  almost
negligible  quantity  compared  with  the  domestic  consumption.  The
value  of  the  European  exports  of  articles  manufactured  from  copper
and  brass  was  undoubtedly  many  times  that  of  the  exports  from  the
United  States.  A  very  small  percentage  of  the  European  exports
came  to  the  United  States,  so  that  the  war  will  have  little  effect  on
domestic  trade.
The  opportunity  for  the  American  manufacturer  lies  in  entering
the  foreign  markets  that  were  largely  supplied  by  European  exports
of  manufactured  goods.  The  capacity  of  the  domestic  manufactur-