STEEL AND COPPER
PRICES OF MANUFACTURES ROOSEVELT CAUSES STIR i (Received April 4, 11.55 p.m.) WASHINGTON, April 3 President Roosevelt told journalists t-o-day that he considered durable goods made of steel and copper were priced too Jiigh. The markets reacted quickly y steel, copper,' rubber and railway/ shares leading the downward trend. The President advocated Government encouragement of the buying of consumer goods. He said the policy would mean the abandonment of the construction of steel bridges, dams and other heavy public works in wb.ich a high proportion of the cost represented materials. The Government wou Id concentrate on other relief projects, srtch as earth dams and channel d.redging. Stock Exchange losses we ; re more than five points, but prices recovered slightly later.
Senator B. K. .Wheeler ( 7 Democrat — Montana) protested against, Mr. Roosevelt's proposal. He did net agree that the price of copper was 100 high, and said a curtailment would throw miners out of work. The price eo uld be reduced by cutting the wages o/. miners to the Arizona scale where they had to compete with slave labour from Africa and the peons of Mexico.'
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New Zealand Herald, Volume LXXIV, Issue 22694, 5 April 1937, Page 10
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188STEEL AND COPPER New Zealand Herald, Volume LXXIV, Issue 22694, 5 April 1937, Page 10
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