The republic. [volume] (Washington [D.C.]) 1849-1853, 1850-01-18
Meeting of the Iron Master. at baltimore.

Meeting OF the Iron Masters mt Baltimore.
At an adjourned meeting Of the iron masters Of
Maryland, held recently at Baltimore, Mr.. Lee
made short but able report, presenting facts fully
establishing the positions taken by the Secretary of
the Treasury in relation 10 the effect of the present
tariff on the manufacture of that article.
Ofthirty-o -one furnaces in that State, eleven have
stopped within the last two years, six more pre-
pairing TO stop, and the remainder must cease ope-
ratons unless there is change in tho condition of
the trade. OF the five rolling mills, only is at
work, and that but partially. When in full opera
tion, these works produce, annually, fifty five thou
sand tons Of pigs, and twenty thousand tons Of
bars, giving employment 20 fifty thousand Of the
citizens of that State, while large number of men
are employed from other States in carrying coast
wise.
The causes Of this depression are stated to be the
fluctuations in the foreign market, the control
that the manufacturer has the labor Of the ope-
rativc by which he can command IL ata point barely
above starvation, the ability given him by the low
price Of labor, and the abundance and cheapness Of
capital 10 dcprcss the foreign Market and then glut
our own at those depressed prices, and the delete
rous effect Of ad paioren tariff, which at any
depression strengthens the arm OF the foreign man
ufacturer, and aids him in prostrating own.
The power that the foreign manufacturers possess
over their labor, and their ability TO reduce the
prices the necessity of the may require and
still TO continue operations, is thus illustrated:
During the years ls45, ls46, and lS47 tho price Of
bar iron at Liverpool averaged respectively, f9 Is,
go l3s and 80 l7s and before the close Of lS4s the
price Nas rcuuCcu 70 IL anu
shillings from that time TO the present, showing
duction in twelve months Of nearly 80 per cent. In
Scotch pig iron the reduction has also been great
In ls45 the average price was "a Os. 3D., and in
Is4s the average price only 60 o.. and at this,
extreme low price IL has continued TO the present"
The cost Of fcharcoal pig iron in Maryland is S22
10 S23 90.
The ad ralorem duty, without minimum, acts as
a sliding scale against the American manufacturer,
while 10 sustain him the operation should be pre-
ciscly the This position is thus clearly
tablishcd:
''when the tariff act Of 1916 was passed, the 80
per cent. duty on the price Of iron at Liverpool
s J0l : 10 per ton; the cost and duty added
made the price Sos But for the last two years the
price has fallen from $50 at Liverpool TO S27 per
ton, and the duty from Sl5 10 IS per ton--mak-
ing the cost Of iron and duty S35 per ton, huctu
alton Of $50 per tom
The report does not ask for excessive or prohibi.
tory duties but that they shall be- arranged to
foster and promote American manufacture. II
states that the interests Of the State i'm the manuac
Of other articles Of iron has also been njurously
affected by the present tariff The shipping Of Bal
timorc had been supplied with anchors and cables
Of the manufacture Of Maryland till within the last
ten years, but the great fall Of prices had caused
those manufactures 10 stop.
This story Of the injury done TO Maryland by the
present tariff is equally applicable TO the iron int
rest Of this country generally