Home
Search transcripts:    Advanced Search
Notable New     Yorkers
Select     Notable New Yorker

Frances PerkinsFrances Perkins
Photo Gallery
Transcript

Part:         Session:         Page of 578

the government doesn't bail them out. They just go broke and if there's any valuable property there, somebody comes along and buys it from them. It may be that the Guggenheims who bought out the marginal copper mines and made money where the regular copper mining companies had failed, would take over. There was also the American Metal Company, composed of very clever Jewish operators, taking over failings. Even Adolph Lewishon's company took over abandoned mines, worked them with such skill that they were able to make real money. Where the original copper mining enterprises had exploited the mine, taken out all that was good, and then couldn't make any more money because they didn't know how to go into the refinements to get more money out of a less profitable area, other companies took it over and made it go. The original companies had abandoned their workings, not impoverishing themselves, but getting out before it was too late.

We never found out much that would help the mine owners, but at our second meeting we had some preliminary answers to give them about what this thing would be like. By that time the codes were going, the NRA was launched, the idea that something could be done was abroad in the land. Cheerfulness was abroad in the land. Everybody was sure the Blue Eagle was going to save them. It was a strange emotional movement that





© 2006 Columbia University Libraries | Oral History Research Office | Rights and Permissions | Help