The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1871-03-02
y; D,ailp Argus.
IRON and Ignorance.
From the New York W esld.

From the New OK cru
The Tribune remarks: That there are
heads incapable OF holding at once two
&" ideas Is q melancholy truth bu. are their
" unfortunate possessors capable of instruct
" ing mankind in poliricsl economy?n
The IribGRe's instructor of mankind in
political economy had for years the one idea
In arguing for his clients, the iron makers,
that Iron-mAklng is free to everybody.
Laughed out of this sole and silly notion, he
held 1t In allegiance for year or so Now
Gil at once returning to it, he introduces 1t
with the following variation:
Here, for example, are Messrs. G. Van
deroilt and A. I. Stewart--men of vast
business capacity and ample wealth. Let
either of them say, II want TO embark in
iron.mAkiug: l will put in $1,000, 900, and
solicit subscriptions of $50,000,000 from
others, so that the work may be done on the
largest scale aud with the greatest possible
economy" Who does not know that the
sum would be eagerly put up on the strength
of the public confidence in the proPoser
sAgaoity aud ability? Why they choose to
invest their means in other undertakings ls
none Of our business: but every one knows
that we speak truth when we say that they
90 invest their money because they believe
il will nav them better than iroR-making.
And they know.
Were this teacher capable of comprehend
inc more than the one idea by which he is
pos,essed he would see, first, that if high
ta-lf on iron gives no profit to iron-mskers,
and has no inducements which will enlist
new capital in iron making, there is no pos
sible excuse for leaving the high tariff on
and, second he would ask himself howit was
that not only Messrs. Stewart and Wander
bilG, but hundred other capitalists, do not
enter the thus protected iron-msking bust
ness. Alas his monomsnis is too tar gone
for him to appreciate the significance OF the
following fscts.
The present iron industry is more than
half built on sand 1t has tor it's prop moth
ing but the tariff. Iron is made where Po-
tatoes and cAbbsges shoald be grown. Com
panies have got up schemes tor ulseFior
purposes, built furnaces, &C., &c. The IN
ducement held out to investors was the high
duty on foreign iron. Hence, although in some
regions, as Missouri, pig-Iron can be made
tor SIS to $50 ton, because they ire the
legitimate fields for j, and the iron masters
do not need or crave an exorbltsnt duty, In
other places utterly uuht fer such produc-
tions. pigron is propueed a, q cost OF $50
to $34 per ton. In such places the profits
will cease when the swinding duty ceases,
and the tariff being already in fearful
looking for of judgement, wise capital
lists decline to embark in so precarious a
venture. The tariff removed, iron would
10 be made where 1t cannot be made
prodtAby, and be made more than
ever where it can. And capital
would be quick enough TO take advantage of
the investment offered Ii IN the latter case,
when it was made legitimate aud secure,
and released from the competition of subsi-
lized foundries. But, says the Tribune,
after showing that iron making is unpro6t
able
Now We want TO induce men to make iron,
cloth, and wares in this country, TO the eX-
tent Of tho home demand for them. To
this cad, we stand by protection, afford
Iug inducements to such Investment which
would not exis. under free trade
Let US show this monideslist what under
his protective system the inducements to in.
vessmeut are. We imported railroad iron
under duty OF "a per cent
l>7o..,, '....SZSo %
INoy........... .....'''' ~ 'O"Z
leOU'' ........'.... s,'us,5to
SIS $40 1854
And We mported under nearly double
duty of I64 per cent on railroad iron:
4056. $50
lauy..' 3, I'S,4Vo
.''...'.. So'o,1O9
so, SAL
We doubled our duty on railroad iron with
r