Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1879-10-24
Boston Opinion OF the Iron Trade.

From Correspondent Of the Advcrtser.l
The price of iron is going up, and every
body in the trade is GU the broad grin. Be
fore long they will laugh on the sore side Of
the mouth. Within year, perhaps a short
er time, some very expensive wisdom will
have been acquired. There is nothing like
learning when we can, regardless of expense :
although We are obliged to face some disa-
greeablc and unwelcome truths For there
is no adequate cause for any such advance
A large number of furnaces were out Of blast
and good many rolling mills had shut down.
Production had fallen to the near level Of
consumption, and they logged along very
contentcdly together The profits of distri-
button had fallen SO far below the point Of
American expectation as TO excite almost neg
lcctful indifIerence--the iron business became
distasteful. If it was an uphill journey for the
producers, it was for the consumers but
they paid the producers n relatively fair rate
of proft-as much per cent rs any business
ought to be expected to yield under the new
condition of things.
Then some considerable supplies of rails
were required at precisely the time when
dealers began to replenish their stocks for
the winter and spring demand. These calls
on the market were certainly legitimate but
the difficulty is that they will prove merely
transient. That is sufficiently obvious / do
not see that the community ought to be re-
quired to pay speculative prices for iron
merely because the iron masters imagine that
their prosperity is an exclusive right to be
observed at the expense Of other people.
What will be the effect and the ultimate re-
suit of this lunacy: The effect will be to
enormously stimulate production. That is
clear enough. As TO the ultimate result, you
will find it next autumn, or possibly some
what earlier, Ill glut of the iron markets of
the world, and an UNNECESSARILY worse condi-
ton of things than that which recently exist
ed. Because the iron producing power of
the world far exceeds any possible Legitimate
demand and is utterly out of proportion to
it, That is the simple and undeniable reason.
The tide seeks its level and finds it, The
days of high-priced manufactured goods are
over. The active spirit of competition, tariff
or no tariff, is abroad on every hand. Nor
will high priced labor in the form of salaries
and the like meet further employment To
those who desire to live inexpensively the
bars have been let down. Sectional prosper
ity is thing of the past. High prices and
low prices alike depreciate quality and affect
communities unfavorably.
1t is the moderate mean that lies contented-
~ between the little and the great which COM
pels economy and consequently promotes
prosperity The American iron masters will
be disappointed If they rely on sentimental
speculation to produce exclusive benefits. II
they cannot carry their share of the load they
must drop it altogether If they are unwill-
ing to accept the new situation, if they will
not be content with the moderate average
rate of profit realized by their competitors in
Great Britain. they will be forced to give up
the business and let the Englishmen do it.
What is now going on in America is doubt
less very encouraging to English manufactur-
ers, but they, too, will pay dearly for their
laugh. Every furnace and rolling mill in
Britain and America will start up-there will
be an avalanche of production-next summer
will show immense stocks and lower prices
than ever on stagnant market. Then Amer
leans and Englishmen alike will find them
selves ineXtricably caught in the same fatal
net, and it will be the consumers turn to
laugh.