Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1873-09-04
THE RUTLAND HERALD
THURSDAY, SEPTEMBER 4, 1878.
.,r,su AND AMERICAN IRON.

The manufacturing supremacy which
England has held for the last half cen
fury, has been the prop and stay OF her
prosperity among the nations OF the
earth. She has been able to retain that
supremacy only by reason of her mex
haustible coal mines and iron ores. and
her system of cheap labor, so that
through the hard, lily paid toll of her
peasantry, she could convert the mineral
wealth of her soil into useful and orna-
mental articles of every day life, cheaper
than other less favored countries could
furnish them. But the time is rapidly
approaching when there must be
change in the relative Importance of ma
tions, in their manufacturing industries.
Cheap labor is not inventive. That ser
vice which must be best paid, is that
which is directed by high intelligence,
and only the steady blows of physical
force, welded only by the power of
strong muscles, can be obtained at low
rates.
While England has been converting
her ores into iron by the work of her
sturdy miners and artisans, and under
sold the world, the enterprise of Amer
lea, that could not pay our prices for
labor and compete with English iron, in
our own markets, has been studying and
inventing labor-saving machines, by
which to convert the wealth of our
mountains into iron, cheaper than it
could be transported across the Atlantic.
While brain labor commands better pay
than that of muscle, so machinery,
when once made effective, is cheaper
than hand labor, as well as doing better
and more perfect work, and now, with
our present facilities, one hundred and
fifty men at one dollar and seyenty-five
cents per day, can do, in this country,
more work in the manufacture of iron,
using our labor-saving machines, than
three hundred laborers, at ninety cents
each per day, can accomplish in Eng
land. This brings our labor cheaper
than in England and gives us an oppor-
tunity to enter into competition with
the mother country in the markets of
Their world at least.
Already the iron interests of Britain are
taking the alarm and the London Times
admits great loss in the iron trade. In
July, one year ago, England exported
77,14S tons. Twenty-four per cent, or
nearly one-fourth of which came to this
country, while in July last, the export
was only 20, 500 tons. Eleven per cent.
or but little more than a tenth of which,
came here. These figures show that in
the last year we have been manufactur-
ing much more iron at home; for every
one knows that all our internal and
public Improvements are being pushed
forward with as much vigor as last year,
and that our business prosperity is adj
vancing, so that our consumption is in
creased over last year, when we used
nearly six times as much British iron as
now.
1t is now demonstrated fact that
America can produce the highest and
finest grades of iron as cheaply as Great
Britain. Our labor-saving machines are
far in advance of hers, and our inventive
capacity incomparably better, and we
have but one drawback to be overcome,
and that is our higher rate of interest on
capital. Mining property with us COM
mands almost fabulous prices. The ma
chinery which we use is costly, and our
rates ofinterest and discount extravagant,
and these drawbacks have to be balanced
up against three thousand miles of salt
water. This problem of high interest is
one of Importance, and must solve itself
through the necessities of trade. With a
free banking system and an equitable adj
justment of inland transportation in our
country, America ought to soon assume
and control her own iron markets as
against the cheap labor in the manufac-
ture, and long ocean voyage in the i'm
portation of the products of the mines of
foreign countries.