Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1881-04-27

The iron and steel interest in this
country is getting to be something
immense. Its growth in the last ten
years is remarkable. The increase
in capital invested has been nearly
80 per cent. The total capital
now reaches the enormous sum of
$23O,00O,000. The American (Phila-
delphia) speaking of it, says:
Of this, nearly one>half is in Penn
sylvania, which still keeps it's place
as the chief centre of the industry,
which it has held for over hundred
years. Of the fifteen counties which
produce more than a hundred thou>
sands tons of iron, ten are in Penn
| sylvania. In quantity, tho increase
is from 1,441, 1929 to 1885, tons
of iron of various grades, and tho
value of the iron and steel produced
is $296,557,685. It is especially
gratifying to note that the industry
is growing rapidly in the West and
in the South, which have produced,
respectively, during the year, $780,
775,990 and $29,145,S3O worth of
iron and steel. When the chairman
of the British Iron and Steel Associ-
alton visited this country, some years
ago, he got new light, he said, on
the subject of protection. He could
no longer believe that nation which
had created such an industry on it's
soil, would again abandon that in
dustry to any foreign competition
which might prove injurious to it.
And he advised his English friends
to make up their minds to expect a
growing competition from the iron
men of America.
On the question of price, to which
free trade always insists on turning
our attention, the results have been
equally satisfactory. We are now sup
piled with iron and steel at much low
er rates than We ever got them when
we were dependent upon England.
Partly this is due to improvements
in the methods of manufacture; but
as nearly all these improvements are
of American origin, they are due in
directly to the tariff. But in greater
part they are due to the development
of the manufacture on q great scale
among us, and to the wholesome
competition which keeps prices dowr
except during rare and temporary
spasms of scarcity-to the loves
figures consistent to the high rate Of
wages paid to our workmen and de
handed by the high standard O
| comfort found among them. In some
: important branches it is conceded
, that our industry now can stand an,
amount of fair competition from for
eigners. Thus, the American cores
t pondent of the London Ironmonge,
3 says that American manufacturers o
, tools and cutlery have ceased to pc
, tition for reduction of the duties
on the grades of steel they use, be
cause American steel is just as goo'
4 aud as cheap as that which they use(
l to import from Sheffield.
4 These statements, which are true
i, furnish an unanswerable argumen
, against the free trade theorists
, But for our wise tariff laws thi
= great interest would not have bee
r developed to the extent it has TO
r half a century to come, if ther
= Before the adoption of our presen
- system, by a Republican Congress
t We paid higher prices for iron an
= steel than we do now, and did nc
t manufacture the one hundredth par
e We were largely dependent upo
e foreign markets. 1t is impossibl
t to overestimate the benefits derive
e by the country from this system {
e protection. against which free trader
!, have howled, and which they woul
J. now have us believe is in the intere'
y of monopoly.