The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1870-06-07
THE PR ESS.
Tuesday Morning, June "a 1870.
Cheaper Iron.

Iron is the backbone of all orr industries
and is as really indispensable to civilization as
gold. Whatever unnecessarily restricts its use
c,ogs the wheels of industry andiniures either
directly or indirectly every person in society.
There Is scarcely one of the appliances used
by civilized man in the preparation of which
iron has not played part. Into the abstract
theory OF Free Trade we have no inclination
to enter. 1t has become a recognized part of
our national economic policy to sustain by
discriminating duties those branches OF in
dustry which are of national Importance till
they become sufficiently naturaized to sus
tain themselves Our most eminent states
men have considered the benefit to be derived
from the establishment OF manufactures as
fully adequate to compensate for any tempo.
rary disadvantage arising from an enhance
ment of prices. The thing to be aimed at is
not free trade but practical revenue reform,
While it is true that moderate protection is a
premium upon industry, all excessive tariff is
premium upon waste; for it places the man
ufacturer beyond the need of economy. 1t is
SAID that competition will keep prices down
TO such basis as will make economy y no.
cessity. That would be true in the long run.
But in occupations like most branches of man
uiacturinS industry, requiring large aggrega-
lions OF capital, and therefore not TO be taken
up and abandoned on short notice. COMPETE
ton is not sufficiently flexible TO correct in
any brief period the evils arising from exces
sive duties on importations. Besides compe-
ttlon seldom stops when it has gone just far
enough. The momentum i. receives after it
has fairly begun to work with effect, generally
carries it to excess, producing disastrous re-
action. 1t is much better for all branches of
industry to receive and be content with such
moderate encouragement as shall give them a
steady and healthlul development
1t is estimated by competent judges that the
duty on iron will bear considerable reduction
without detriment to those iron manufacture
ers who manage economically. The duty on
pig iron now is nine dollars a ton in gold or
upwards of ten in currency and Commissioner
Wells estimates that it may safely be reduced
to three dollars in gold The estimated cost
reproduction is S26 per ton in currency, while
the actual price during the past year in the
principal markets of the United States has
been S36 or $37. The demand has kept close
to the supply, so that combined with the high
duty on imported iron, the manufacturers have
been able to have things pretty much their
own way. That there is likely to be no
want OF demand in future may be inferred
from the fact that the annual consumption of
iron in the United States is only about one
hundred pounds per capita, while in Great
Britain and Belgium it has reached one hun
dred and eighty-nine pounds. The price of
iron is therefore likely for some time be en-
HANGED nearly if not quite to the full amount
OF the duty. The iron masters of course dis
pute the accuracy of the Commissioners fig
ures, but considering the remarkable correct
ness he has shown in all his other calculations.
he may well be considered better authority on
this question than men blinded by the partial
tiles arising from their own special interests.
and very likely making their own improvi-
dence and wastefuluess an excuse for excessive
protection.
The interests, and we believe the prevailing
sentiment of New England are on the side of
OF revenue reform and moderate protection.
Lower duties on iron are a necessity for tbe
whole country. A reasonable price for iron
is essential to the extension of railroads, the
revival OF commerce and the development of
our resources. Wooden ships can never re-
sumo the relative Importance in commerce
which they formerly sustained Hence if this
interest is to be restored, all those hindrances
to the construction of iron ships which are
sa9i9et 20 human control, should be removed.
Revenue Feiotm in regard to duties on iron is
9 matter oi highest practical Importance to
. every haisan he'ag. R'an be brought about
when Che masses sec 1t aie the matter up
aud iasistsip0G 10