The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1874-08-06

THE IRON INDUSTRY-GENERAL
DEPRESSION IN ALL ITS
BRANCHES-l75,OOO MEN OUT OF
W0RK-MEASURES OF RELIEF
The condition of the iron industry of
the country, and the general depression
of It's branches, is the subject of an arti-
Gle in the New York Bulletin" " publish
ed by the American Iron and Steel Asso-
citation. The figures gwen of the price
of iron in Pittsburgh, New York, Phila-
delphia and other places, show that there
are but few sales and those only at rum
Gus prices. In comparison with the
rates ayear agO-when prices were low
er than they have been preyiously-the
figures for April of this year represented
an average decline of over thirty per
cent. This shrinkage in value Is trlseea-
BILE to the reduced demand for iron, re-
sulting from the suspension of railroad
building and the general stagnation IN
business. 1t is estimated that the rail-
roads will not consume this year one
third the quantity of iron they did in
1872, when one-half the manufactured
iron made in this country was consumed
bv them. The consequence of this state
of things is that more than one-half the
rail mills of the country are idle, while
Others are only running part Of the
time. This affects all other BRANCHES OF
manufactures and business intimately
connected with the railroad interest.
Their business was fully one-half less
thnn il was year ago. Of the 66B fur
mace stacks in the country, the whole
number in blast does not exceed 400; out
of blast. 2G6. Pennsylvania, Of course,
leads the Union in the nulnber Of it's
iron furnaces, having forty per cent, OF
the whole number; and of the 264 fur
mace stacks in that State, there are but
16l in blast while l03 are out of blast
A careful estimate shows that one
hundred and seyenty-fve thousandmen,
who are usually employed ut rolling
mills. furnaces, etc, are out of work to-
day in consequence of this depression IN
the iron business. If TO these We add
those mechanics and others whose busi-
ness has not been prosperous, or has
been partly or wholly destroyed, because
the iron business upon which they de-
pended has been prostrated; and If we
multiply the grand aggregate of unem-
ploved workinen directly and indirectly
dependent upon the iron business by the
number of women and children, old men
and invalids, whom these workingmen
are called upon to support, the amount of
privation and suffering entailed by Il
partial destruction of q great industry as
appalling and overwhelming, and, with
out precedent in the history of this
country, if difference in population be
considered, since the hard times that
were ushered in by the crash of 1873.
In considering the remedy for the gem
eral depression above described, the
Bulletin" shows that S46I0OO,OO0 worth
of iron and steel and manufactures
thereof were imported last year, all of
which could have been produced at
home. The imports have fallen Off con-
siderably this year, but there is reason
to fear sharp competition from abroad
which will be hurtful to American inter-
ests. The price of coal as well as the
rates of labor have fallen considerably IN
Great Britain, and iron has undergone
corresponding decline. In order to
avert this destructive competition, the
Bulletin" holds that the ten per cent.
reduction act of of June, 1872, should be
repealed, that measure having caused a
loss of Sl3,000,000 to the revenue with
out appreciably beneftting consumers