New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-04-29

their orders on hand aro sucent to absorb al they can
make up TO July next It is estimated that Sweden and
Norway will produce than half supply OF iron
r the present year. This condition Of affairs abroad
bas ,used steady advance in American iron for some
,,,,o pas, which has been followed by an advance In
co,,er brass and other metals The effect OF all this
has been TO advance American hardware composed
chiefly Of iron from 10 to 20 per cent Articles manu-
tac,ured Of steel have advanced from TO i2i per cent
here and in Europe"
We hold this advance to have been aggra-
yated if not wholly caused, by the unwise
reduction of our duty on Pig Iron In 1870.
In the face OF rapidly increasing con-
sumption of Iron throughout the world,
VIC virtually warned our people not TO
erect any more furnaces, and they needed
the adm0niton. We have given uDquestoned
testimony that the building of furnaces which
had previously been very active, all but ceased
on and after the passage OF that act, IN
view of the Free Trade agitation for taxing
off the duty altogether. The present exorbi-
tant price is the natural result of scarcity; and
scarcity results from our stopping the erection
of furnaces just when we should have slim
uated it, Yet Mr.. +. insists on going fur
ther on the very road which has led us to this.
He talks of taking off the duty as though that
would be so much clear gain to the consumer.
He says:
81 appeal to the candid Protectionist himself and ask
him whether there Is not proper margin over ana ABOVE
Protection n margin within which we may red ice Win
out trenchng in the least upon tho theoretical question
OF Protection tsofi Whether there ia anything unfair
in reducing duties laid not for Projections SAKE but Us
an equivalent for burdens which have been done away
with 1t seems to that the honest Protectonst him
hia
taking another step and becoming the avowed champion
of bounty and monopoly"
we retort the charge of monopoly" MI.
Finkelnburg has constituents who are coming
money by making Pig Iron. They are grow
ing rapidly rich, because too few have
embarked in that business We seek to double
our country's product of Pig Iron within
year and quadruple it within four years.
There are men enough ready to make PlS
Iron on q reasonable assurance OF half the
present profit. Make the duty $40, with
q fair prospect of its retention, and new FUR
naces would soon be going up in half the
States of the Union. Other people like profit
as well as the present iron-makers it is the
reasonable fear that such views as Mr.
Finkclnburgs will prevail that deters them
from erecting furnaces. Mr.. F.'e policy may
serve his few constituents who have furnaces
already built it is at war with the true inter-
ests of the millions who need and must buy
Iron.
Is Protection wise, or is it unwise ? Does it
benefit the many, or only the few2 This is the
first question to be discussed and decided. At
ter that, we are ready for the consideration of
details-Of twenty-five or thirty-ive per cent
of 81 or 50 per tun. But let us first settle the
Main Question. And we think the Tariff
should be simply let alone until we have de-
termined on what principle it is to be recon-
strlctcu.