Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-08-21
A STATESMAN VIEW OF THE
BUSINESS OUTLOOK.

a NLALE oMAN > IL " VI 10
BUSINESS OUTLOOK.
The Hon. AERNN :. HEWITT, OF New
York, who has been q very successful
business man, and whose opinions upon
public topics are always regarded with
interest, has given expression to his
views upon the business condition and
prospect that are in entire harmony
with the growing belief in a genuine and
persistent revival. With many other
men, Mr.. HEwTrr regards the revival OF
the iron trade rs the most significant
fact in this connection, but takes it as
conclusive evidence not OF a pros
pcctiyc but an established advance
i'm all branches OF business. For,
he saws. "a revival OF the iron trade
never precedes, but follows, a revival Of
general business. When an era of
prosperity begins, when trade reviyes,
and great enterprises are planned, iron
is needed % carry on the work. Hence
the revival OF the iron trade is proof pos
tive Of a genuine revival OF business
generally
Upon the question otpcrmmency OF
the improved condition, Mr.. HEWITT
SAYS;
"Thc only question is whether the
prosperity will continue. Ii Is bound
to continue, | think, but We shall have
no era of high prices; simply healthy,
rcmuucratiye business, with moderate
PRICES that will enable consumers TO 20
ON with their enterprises. This Is true
prosperity. High pricrs check pro-
gr,ss. We have got To that stage when
everything will 20 ON without an era OF
high prices / said that many iron
works were again beginning operations.
This relates primarily TO blast fur
uacrS. But the furnaces that are
again going into blast are those
that can make iron cheaply. Those
that from their situation or any other
causes, cannot make iron Tor less than
Sl5a ton cannot 20 into blast. This
country can now produce about 1000
600 tons of pig iron; 100000 Of this
can De male under SD ton; the other
10000 cannot Dee made Tor less than
so. Now, pig iron can't % above so.
When 10 does the importer steps m.
Why. I can import first grade gray forge
iron Tor SO, paying duty OF >. 80
Won see gray Jorge iron can't 20 above
Sl9.
"Now, a word about the duties ON
iron ON pig and scrap iron, steel rails
aud many kind of manufactured iron
they are oppressive; seven dollars Is too
much to pay ON pi- iron. But they have
conferred one great benefit. 10 Is that
i'm the era Of depression they have
prevented this country from being the
sink int, which the iron of other COun-
tries could be flung. Hal the duties
been low enough tine importationS OF
iron would have DESTROYED our business
and closed those establishments that
have lust been able to keep above water
anil are now ready to reap the adyant-
a-,a, OF this renewed prosperity. Du-
ties. I'm nav opinion. ought only to take
effect I'm periods of deep depression.
Then they protect our home Industries.
but there should De Il sliding scale, and
with the return OF prosperity the duties
ought to decrease, and when iron Is
worth 30 then they should be taken off
entirely. Thus the consumer will be
protected, AMI will hc able To buy his
iron at q reasonable price.
But, as ! said, there is no doubt that
we are beginning an era Of hcJlthiul
prosperity. Nothing can check il. We
are the granary for the world. Our crop
this cariscuormouS. Industries thrive.
Last wear We put down over 5000 miles
Of rli.rual; this year it will be 1000.
Many iron manufacturers who were
able took advantage Of the period Of de-
preston ami rebuilt their furnaces. I'm
der the most improved plans iron can
be made rs low As So ton. The pro-
iii Of u ON a ton is not great, but it is
rcmuncrativc, AMI SD the outlook is en-
cOuraging."