The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-05-08
Could the Present Low Prices for Iron
and Nails Have peen Preyenteda


A correspondent of the Pittsburgh Ga
set!e discusses the question as TO whether
it was possible for manufacturers to have
prevented the occurrence OF the present
low prices for iron, nails, &c. He takes
up the assertion, frequently made, that
manufacturers could have prevented this
decline II they had been SO determined"
and that all they have to do even now is to
ask better price and they will get it. He
remarks upon theassertion as follows:
81 own that the argument that we could
have done so seems fair on the face OF it.
ltseems so easy mean easy to the man
who does not sell the iron and nails) to
say want two cents pound for my iron
or s. 30 key tor my nails; and II may
seem that II he waits long enough he will
get 1t, and perhaps he will; but life is
short, and bank closes at 8 p. NJ, and we
have in ourlanguage such ugly words as
notariGs, protest, attachments and bank
ruptcy, The fairness OF the argument is
only seeming. There never was, when 1t
is examined, more ill.shapen argument
than this one, and one that will have less
standing in the face OF fact and history.
In the first place 1t assumes that Pitts
burghs iron manufacturers are class of
business idiots who do not understand
how to run their business, and that their
critics do. II they are selling iron at 81 70,
when, by the asking, they can get 8 90, or
nails Mt 81 90, when they have only to say
s. 80 to get 1t, they are unquestionably
and absolutely idiotiC, and those critics
should at once apply for a commission and
ask that themselves be appointed guar
dians.
But arc they idiots? Is it not barely
possible that they are sound and that
their critics are moon.gazing? Pittsburgh's
: manufacturers have not had tho reputa-
tion OF doing business for mere sport, and
We think it may be safely assumed that
they are not selling at the present low
ruling prlCes for mere amusement, Though
it may at times look as II their policy OF
business management was wholly without
sense or reason, 1t should be remembered
that many OF Pittsburgh's manufacturers
are men OF large experience and inteli.
gence, and as eager for profit as any other
class Of business men. The most reason
able explanation OF their apparent disre-
gard oil sound business principles is that
there are causes operating to influence
them which are not generally known or
understood II 1t was possible for them
to advance prices and to maintain the
advance, 1t may be assumed they would
promptly avail themselves Of tho oppor-
tunity. Il
do not desire to enter into an argu.
ment on political economy, nor is it nee.
essary. II We seek sufficient reason for
the reduction in the price OF iron, we shall
not have TO go far, The fact simply is that
our manufacturers have constantly, dur.
ing the past five years, found themselves
face to face with very ugly dilemma,
Certain mills have been driven by their
necessities to offer iron below the market
price, and our manufacturers have been
forced TO adopt ono OF two courses, either
to stop their mills or sell at lower price.
Itmay be said that those who have forced
this state OF things have no business in the
iron trade, and that the sooner they are
out the better. This may be all true,
but the fact remains that they are IN
It, and any policy that a strong concern
adopts that ignores this fact is not WISE
norshrewd. In the face Of such condi.
ton OF affairs 1t Is utterly impossible to
runs on a dead level Of equality; Il all
mills were equally well situated and the
machinery the same; II all material and
product was perfectly uniform II all labor
was equally good and all wages the same;
II every body, paid cash for labor and ma
terials, and had plenty oft to pay, II there
were Just mills enough TO supply the de-
mand, in a word, II thegood times coming
were here, this idea Of maintaining
prices on q full market might be very