Word: coppering
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...different was the war experience of Chile. Her big exports were nitrates (essential for explosives) and copper, another important war necessity. After the first disruption of the War gave her a bad setback in the fall of 1914, she rode on the crest of the wave. Her Government, which depended largely on export duties, was flush. Her mines prospered. Her export balance, which amounted to $300,000,000 in 1913, jumped to over $1,500,000,000 in 1917. In the four years of the War her export balances reached...
...Pont, Hercules Powder Co., Remington Arms, Savage, and Winchester Arms all got big Allied orders for munitions. U. S. Steel converted a deficit of $1,700,000 before common dividends in 1914 to a net for common of $50,600,000 in 1915 and $246,300,000 in 1916. Copper went to 28? a pound in 1916 (it was stabilized in the fall of 1917 at 23?). The automobile industry which in 1913 put out 461,500 passenger cars in 1916 built...
During the War period, as during neutrality, the Guggenheims, William Rockefeller (brother of John D.) and John D. Ryan, heavy owners of copper stocks, made big profits. While neutrality lasted so did speculators such as Jesse L. Livermore and Bernard Baruch. But speculative profits in commodities were reduced when the U. S. Government took control of prices as a war measure. Speculator Baruch himself headed the War Industries Board which fixed the prices...
...last. Subsidizing merchant shipping is the only way that the U. S. can keep its flag on the high seas. In a world war U. S. shipping might become a highly profitable business. Keeping heavy industry, particularly steel, busy is a No. 1 national problem. In a war steel, copper, chemicals, oil would be due for a boom...
Cuba's sugar millionaires in 1919 became sugar paupers by 1921 and Cuba suffered severe depression. Chile's Wartime profits in nitrates and copper were followed by post-War losses that wrecked her economy. U. S. farmers, who during the War period had sold all the grain that they could raise, found themselves in the post-War depression with crops they could not sell and progressively went bankrupt all through the twenties. The depression of 1929 was the culmination of this struggle for markets...