Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-09-21
THER0N TRADE

The Pittsburgh Post states that a. g
meeting of those engaged in the iron trade
In that city on the 18th inst, it was decided /
to adhere to the pres ut rates for iron, but
to advance the price Of nails of all sizes 123
cents psr keg. The New York World
says: "The present condition of the iron
trade of New York, aud in fact the whole
country, presents some rather curious
anomalies. For twenty years the stocks of
iron-not only in New York, but at the
great producing centres and in the country
stores-have not been so low as they DOW
are. At the same time, the demand for
irol has rarely been SO light or The sacri-
fees made by dealers so great as st pre- sent.
The causes of this stagnation in the iron
trade are neither apparent nor satisfactory;
but review of the trade for the past two
years, together with some facts concern
ing the consumption Of iron and the
sources of the iron supply will prove in
structige. Up to August, 1871, refined bar
iron sold 10 England for Ct los to f7 los
per ton. This made tbs price OF imported
iron $50 currency in bond, while the average
duty Of S25 ton added to this made the
price of imported Ion, duty paid, about $75
or SIS q ton. American iron was then
selling for SIS a ton. In August, 1871, a
rise took place, and the price Of iron sd-
vanced in a few months from Fl lbs to
ETA los in England, and from $75 to s12O
a ton in America. A year later, in Septem-
Der, 1872, the price Of bar iron in England
fell from ETA los to flO los. The decline
continued until December, while during the
present year prices have again risen, vary
ing from ELS to ELI los ton. In the
United States the price of iron was kept at
$500 ton in the esrly part of 1873, with
the prospect Of an advance. But instead of
an advance there Yves decline, and on
has now been selling for several months
at S6O.64. Thus it appears that
iron is only $3.50 or S. a ton
dearer in New York now than in 1871, and
yet, notwithstanding the fact of almost a
bare market, there is no steady demand and
prices are altogether unreliable. The tariff
has now effectuaIly prohibited the ;mporta-
ton of the usual grades Of bar-iron. For the
cost of iron in England, with freight and in
surance added, would put the price at about
$40 currency a ton in bond, which, with the
duly of S25, would make the price Of i'm
ported iron more than 500 ton, while the
American producer with low stocks on hand
is unable to sell freely at $50 ton. This
condition of things is somewhot perplexing,
but perhaps the true solution of it is to be
found in the following facts: Fnst-The
farmers, wac are the principal con-
sumers of bar-ron, have for several Yeas
been pinched for money. The advese OPP
Grafton of the tariff laws has driven them
to greater economy, and they now repair
their wheel tires and farming implements,
and refrain longer from buying new
ones than formerly. Second-A great num-
Der of small FORCES have recently sprung up
In convenient centres, which produce from
|
forged to suit the demand of their respective
neighborhoods. Sjngly they are of little
Importance, but collectively they constitute
a very formidable competition with the
great iron establishments of Pennsylvania
and MARYLAND. The farmers within ra-
dius Of a hundred miles around Rome, in
this State, no longer purchase their supplies
of iron from New York, but draw them
from the foundries which have sprung up
in the former city within the last few years.
This is only one If the many examples
which might be cited in all parts of the
country. Third The demand for railroad
iron has decreased with the decline in rail-
road building, which is largely attributable
to the high price of iron, implements, and
l .bor produced by the tariff. Whatever tie
J complete solution of the present slagnatior
} Ia the iron trade may be, or wherever the
future centre Of the iron production in thi:
county may be located, it is very certain
that the outrageous tariff on iron which ha:
: served the purposes Of the Pennsylvania
r founders and fOrgers for the past twelve
r wears is now dead letter. 1t no longeI
< brings revenue to the Treasury nor protec
): lion to the American manufacturer o
:, iroD."
s THE Chattanooga COmnerc td Of tb
: 10 b inst, SAYS: "Judg3 Gordon, Of Ring
, ID, Ga, was in the city yesterday on bus
. mess. From him we lesru that Gov. Brow