New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-03-25
THE BRITISH IRON TRADE.


United States. The London Economist of tho
18th inst. contains an able and interesting let
ter from Mr.. George L. Clark, for twenty years
an iron manufacturer in South Wales, who
presents number of very ugly facts and some
deductions from them which must be anything
but pleasant reading for Englishmen. Some
of Mr.. Clark's observations are applicable to
the state of things at present existing in the
United States. but the most discouraging OF
them, we are happy to say, bear solely on the
prospects of the British ironmasters. During
the last forty-fve years, according to MI.
Clark, whenever "money has been plentiful"
immense numbers of railway schemes have been
brought forward, and the demand for iron has
called into existence new furnaces and mills, the
supply from which, especially of late years,
has been excessive This supply, though fol-
lowing pretty closely upon the demand, has
yet followed it, and it has often happened
that before the producaof the new works was
in the market the demand has subsidized.
Years of prosperity have created new iron
companies, and years of adversely have
brought their make upon crippled market,
and ruined the trade, so that the iron manu-
facture has for long period been not only
very speculative and fascinating business, but
on the whole, looking to the immense capital
invested in it, an Improbable one. So much
of Mr.. Clarks diagnosis PROFESSIONALLY APP
plies to the iron trade in the United States
as well as to that of Great Britain, but what
follows chiefly &C lcerns his own cOuntrymen:
For many years the British ironmaster has supplied
the world with rail iron. Large sums Of money have
been raised in England and lent to foreign States and
expended by them in the purchase OF English iron TO
employed In the development OF their own lhterha
resOurces-a very sound financial policy when Judl-
cousy carried out, aud to which 10 In great degree
owing tho enormous increase OF material wealth.
both IN the old aud world One effect, however OF
this great wealth has been to induce foreign countries
to initiate England by the introduction OF those manu-
features in which she has been successful and espe-
caly by the establishment OF iron works. II was In
deed speedily found thar, partly from certain natural
advantages, and partly from the superior skll and In
dustry Of wOIkpeople, rail- iron could not DC 80
cheapy manufactured the continent or In America,
"a in England. OF course the wise policy would have
beeu 70 purchase from England such articles as she
alone can produce economically and to sell to her those
I'm which each foreign State had corresponding
advantage Unfortunately, foreign countries are
all at this time far behind England In
their appreciation OF the benefits OF free trade.
To it almost all foreign nations are, at the
monarchcal democratic, are opposed. In France,
Belgium Germany, Holland, and the United States the
Governments favor special manufacturing interests
which united and powerful to the injury Of the
community at large aud Russia, our only considerable
foreign customer Tor rail iron, is introducing the same
mistaken policy. In 1873, when Count BobTinsky be-
came Minister Of Public Works at 81, Petersburg, Russia
was IN the practice OF allowing those who had cOnces.
sons for the construction of her railways to raise
OF uSgil Government,
purchase the necessary plant and materials where they
pleased Practically, the money always raised in
England and thence also came the plant and materials
The Count determined to alter this policy, and by
means of English capital TO promote Russian manufac
lures. Those holding were no long r LETT
free to purchase where they pleased but one Of the
conditions OF their concession that the rails and
other material were to be manufactured Russia.
Count Bobrnsky retired in 1874 but his successor Is
pursuing the policy with still greater strctness'
and understood that, while 1t is In contemplation to
issue new railway loan ia London, 1t Is intended 10
force its expenditure upon Russian produce by leyyng
duty calculated to amount to about SO 10 per ton upon
English iron. The English iron trade rcW Mus be len
piuaout single important foreign customer either in
Europe ADleTica.
Mr.. Clarli's conclusion is that many of the old
iron works, already in a very languishing con-
dition, and some of the new ones, will expire.
Moreover, at the present moment the attitude
Of the working classes is fatal not only to any
production at a profit, but to any production
at all. The Welsh masters demanded reduc-
ton of wages of only ten per cent, but every
person concerned in the South Wales iron
trade. whether master or workman, Mr.. Clark
tells us, is perfectly aware that no iron work
can be, under present circumstances, carried
on ot that rate without loss. After reading
Mr.. Clark's letter. we examined the returns OF
the Board of Trade, showing the quantities of
rails OF iron and steel exported from Great
Britain in the months of January and Feb
ruory. We found that the exports to Russia
had fallen off from G,524 tons in 1874 to 1923
TONS in 1876 and to the United States from
1873 tons to 4081 tons The three countries
taking the largest quantities OF rails IN 1870
were Australia 13,430 tons; Peru, 1892 tons
and British India, 1906 tons. The total ex-
norted falls OF from 96311 tons in 1874 to
n 257 tons in 1875, and the declared value
from s6,5j2, 100 to S3,GS9,125. A comparison
with the corresponding period i'll 1873 would
he still more disadyantageOus. For the two
months of January and February, 1873, the
total value of the exports of British produce
and manufactures of all kinds was S2O3, l5O,OOO;
for fine same months in 1874 it was SlS9, 100000,
and for the same months in 1915 it had still
further declined to S172,3OO,OOO. This, it seems,
Is not the only country in which trade Is dull.
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gIOLENT ASSA ULTS WITH PEN IND
PISTOL.
ror,, ono must hope that the skilful sur