The daily union. [volume] (Washington [D.C.]) 1845-1857, 1856-06-13
COMM
FROM OUR ooMMERoIAL CORRESPONDENT.

A# New YoRK June TO- 1866.
The growth of the iron manufactures in this country at
tords singular illustration OF the injurious influence OF gov
interference pursuits Of industry The measures
OF the imperial government calculated to foster only
the welfare of the mother at the expense oil the
colonies The whole imperial policy not only in respect to
the North American colonies but the East and West In
dies draw there the accumulated wealth and the
ducts Of industry to enrich the mother islands. In the
last with the extension Of territory, succession
Of officers civil and military enriched themselves by every
of oppression, carrying with them their gains to
England to be succeeded by Others, until the impoverished
country nearly drained OF its For long ages
the blacks of Africa purchased for tres conveyed
the East Indies and there converted into sugar and coffee
for the of London owners OF plantations The American
colonies had liberty but to send their produce to Eng
land at low rates. and buy thence goods at high rates. The
result accumulation Of capital here which could be
applied to any manufacturing enterprise and the close
the revolution found the country destitute of not only the
requisite capital but the necessary skill and aduncts,
for the manufacture Of iron in particular There
no duty imposed upon iron until 1857, and then
very small up to the embargo, which fol-
lowed by When that ceased, it found that,
in spite Of all the difficulties, the manufacture had
reached nearly CO. 900 tons annum, all charcoal The
art of making iron with bitumnous coal had been long
known in England but there btuminou coal here,
and charcoal the only fuel that could be used Nooesa
ry the iron costly, and with the peace the cheaper
coal iron of England here in abundance, comforting
great advantage upon all who used iron. All business was
and the reaction of prices This was of course
cribed to the want of tariff and great efforts made
impose in 1890 enhanced in 1924 and again in 1925
when the make OF iron had reached The
of that imposed duties high to lead to dissent from
consumers 1t also the case that they by inducing
impractical persons to 60 into the business overdd it.
to the injury Of regular manufacturer who ascrbed the
sulng evil to too low duties In 1882 however, adj
med all sides that the duties high enough and that
il the manufacturer could be assured of them for years.
ha
This the basis of Mr.. Cays compromise and biennial
reductions Of duties enacted to s42 when the horizontal
rate of 20 per cent being reached it thereafter be
maintained In 1872 after several years great financial
depression the make Of iron estimated 230 900 tons
meantime the mode of making iron from anthracite coal had
been discovered giving great impetus to the trade and
calculated to reduce the cost Unfortunately however,
s42 when the country began to from its embar-
easements, the tariff of that induced great numbers
people rush into the iron trade and such
it overdone that the make of iron in 1S47
stated at 900 tonsan increase of $4,000 tons in FIVE
years The inevitable result of such wild progress
the greatest depression to the whole interest Had the
government nterered in ls42, the increase of make
would have been exactly proportional to the wants of the
country, and the regular iron masters would have
been ruined by the speculative competition of amateurs
The tariff of 1876 removed the artificial stimulant and
the trade grew healthy up to the discovery of gold
California, which drew off miners and reduced the make
Since then the trade has grown with regular and healthy
pace the make the last year being estimated
TONS against product OF $685. 55 tons per in 1864
large increase but not larger relatively to the population
extent and wealth Of the country and the circumstances
manufacture than took place the first twenty
of history when there duties and All the
emoument losses, and difficulties of the trade may be
traced to the government which has perssenty encum-
bered il with help" No have the struggling
facturers difficulties that environ them, at
tanned remunerative position than the oicoas politicians
rush forward and offer bonus to capital to overwheln
them with competition,
The taricy has been servceable party issue the
manufacturers have patiently submitted to the penalties Of
having political friends If they suffered they saved the
country for long time from the evils which flow from the
more exciting issues raked up by desperate men.
The money market shows evidences Of that plethora which
has been long looked for From the interior from the
treasury, and from California, gold forward
tain diminished export demand hence The late
Europe shows better sgns in relation TO the coming harvest
and the state Of affairs generally in Europe but
the export Of specie TO the East continued large The
or Of the 10th May took 100000.
The amounts Of specie in the city, compared with
last year, follows