New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-03-23
IRON SHIP-RU[LUINE-

Predictions as to the future of any branch
of trade or commerce are extremely hazard
Gus. While we have never shared the gloomy
views of some fanatical Free-Traders in re-
gard to the forthcoming disappearance of the
American flag from the ocean, our eyes have
not been shut to the conditions necessary to
the increase of that portion of our shipping
which is engaged in the foreign carrying
trade. Within the last twenty years con-
stantly increasing proportion of the products
which enter into our commerce with Europe
has been carried in iron steamers. Low wages,
cheap coal and iron, and the more limited
field for the employment of capital, gave a
great impetus to the construction of iron
steamships on the Clyde. The breaking out
of the war effectually put an end to American
competition, and since then the high prices of
labor and great demand for iron for railroad
purposes have, until quite recently, prevented
us from disputing the rapid progress of Great
Britain and Germany toward a monopoly of
our foreign carrying trade. The proportion of
the imports aud exports of the United States
now carried in foreign vessels is about three
fOurths, but there are indications that bottom
has been reached. That four first-class iron
steamships have been built on the Delaware,
and are now running between Liverpool and
Philadelphia, is a significant fact. 1t is not
to he supposed that capital would have been
invested in these steamers without expectation
of profit To say that the steamers have
been "subsidized" by the Pennsylvania Rail-
road Company is about as ridiculous as it
would be to say that the Jersey City Ferry
boats are subsidized by the same corporation.
Yet Capt John Goldman has made this great
discovery, and sOlemnly announces it, in order
that capitalists may avoid investments In
American steamships built of American iron.
There are some conditions which appear
to be in favor of iron ship-building on
the Delaware, and the increase OF Ameri-
can iron steamers in the foreign carrying
trade. The year 1878 closed with severe
check to the British iron trade, arising from
the great increase within the preceding three
wears in the cost of coal, iron, and labor. 1t
is the general opinion of those in England
who have most studied these questions, that O
large share of this advance in coal, iron, and
labor will be permanent. Iron plates can
now be furnished to the ship-builders on
the Delaware at about the same price
in gold that they would cost ship-builder on
the Clyde The rest is question OF the skill,
] efficiency and executive ability of British and
American ship-builders. Which of the two
has now the advantage in these respects is
disputed, but the permanent causes are work.
ing in favor Of tho United States. In some
of the great coal and iron districts of Great
Britain it is admitted that the constantly In
creasiug cost Of getting the coal WILL within a
very short period, make it impossible to derive
any profit in those districts from the nanufac-
ture of pig-iron. A parallel case here would be
such an increase in the cost of anthra-
cite coal as to shut up all the blast furnaces
along the Lehigh and Schuylkil. However,
in all speculations of this kind, time il an i'm
portant element. We may be certain that a
change is inevitable, but b say uhe, the
! change will take place is impossible. The
restoration of q sound currency and the 70
establishment of confidence chat Pc
, ouptsry spssgsmsnts viii not b i'm