MY PLAN FOR "COPPERS"
The plan I had so carefully formulated in connection with "Coppers" was simple in application yet vast in scope. It was to buy up all the good producing mines at their market price, or double if necessary, to organize them into a new corporation and offer its stock to the public at a capitalization of double the original cost. By advertising the exceptional merits of the copper industry and the financial power of the men who were backing it, the public would become educated to a knowledge of the values of "Coppers." Under this education the world of capital would invest in copper shares until the price had advanced, because of so much capital seeking this form of investment, to a point where the net return was brought down to the going rate of, say, four per cent. This would mean that the old going prices of good producing Boston copper-mines would advance 100 to 200 per cent., which in turn meant that those who risked their money in the first venture (which I figured would require $100,000,000) would make $100,000,000 to $200,000,000, while at the same time the public would make $200,000,000 to $400,000,000. This seems like an "Aladdin-lamp" story when it is told, but, as a matter of fact, prices afterward did advance in this ratio, and 100 and 200 per cent. beyond, and many of them, notwithstanding the tremendous drops that have taken place since, still show from 200 to 300 per cent. advance over the prices then in vogue. Never in all the history of business was there afforded capitalists so fair an opportunity to make honestly and legitimately so vast a sum of money and at the same time to do so much for the people. Nor was there a more honorable undertaking nor one which a man could be more justly proud of carrying to success.
As time went on, this big enterprise was more and more in my thoughts, and I tested it in every way I knew, going over in my mind and trying out