The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-08-27

When depression falls upon any branch
OF American industry we are at once Piled
with the mocking inquiry, 'Does protec-
ton protect% Tho happiest moment for
some Of our countrymen seems to be when
they eau point to an American industry
embarrassed in spite Of high tariff on the
similar foreign product. Anything In this
line will do, but iron Is preferred. That Is
the tender morsel for which the American
free trader pines. For some months the
evil genius OF misfortune has given him
good deal to gloat over and to moralize on.
His inyariabe conclusion is that protec'
ton does not protect.
No high tariff is making bad business for
the iron masters and the iron workers Of
England. Englishmen are allowed to sell
in the dearest market and buy in the
cheapest. England comes nearer than any
country on earth to the Free Traders Para.
disc. But they have their own troubles in
England. Tho iron industry is in copdi
ton by no means satisfactory. At the re-
cent half-yearly meeting Of the North Of
England Iron Trade Arbitration Board the
President thought it timely to remark that
he "did not fall in with the view that the
iron trade was ruined and the pudding
trade was ruined" he thought something
might be done towards making success
full stand against the onward march Of
steel ii English iron masters would pro-
duce better iron. A member oil the Board,
with his tongue in his cheek, said that he
should be very glad indeed were such q
good prospect before Them"
The President, recalling q statement
made by him six months before, that four
firms out OF twenty had declared no profit
in iron manufacture. was obliged to admit
that this industry is now in Estate Of de.
preston, and not OF prosperity"-"a want
OF trade at r0munerative prices" From
which it appears that our English friends
as well as ourselves know how difficult it is
at times to turn iron into gold. But every
free trader Is convinced that protection
works a great injury by stimulating the
home industry, calling into Being more
plants than are needed, producing more
than the country requires. However this
may hurt the producer, 1t cheapens the
product to the consumer. But let US see
whether oyer-produCtion is confined 10
protected country. We quote from the
Northampton correspondent OF the
American Manufacturer, to whom we are
already indebted:
The under cutting which Is going on, is
still doub less very considerable. II Ia COM
planned Of on all our exchanges. As II pua-
Died IRON had no competitor, and as II that
irou Was in demand far in excess oil It's pres
ent call, the means Of output have been aug.
menLed In an uuconScionable degree.
Now that the demand for steel IN preference
to iron, IS increasing, the result Is seen in the
prices which hAYe made up the wages &C.
count4nts' returns 10 both the chief iron.mak
ing centres. Thee. II will be remembered,
have shown u steAOy decline for several quar-
tiers past. And now, rather than continue to
take them, and 50 continue the trade at loss,
works, 1t Is shown, are closing.
Nor Is steel mucn better. Inc pauclty OF
orders Tor steel compared with the capRbili- |
ties OF the works, which has brought, rs LAST
week reported, some steel rails down 10
"a l0,, aud steel PLACES 10 a figure not long
ago deemed impossible, Is this week seen III
the readiness u the makers Of certain classes |
Of hemAtlte pigs TO take less money. Upon
the W0lyeThAn pton Exchange on Wednes-
day drop iu hematites OF g. u. per ton was
announced by the Tredegar lSGuth Walesl
Steel a-d Iron Company and l shall be sur
prissd If, by the lime September has come in,
yet another g. 81. per ton has not by the
same company been taken of. The present
reduction leaves the forge hematite IRON OF
thus firm ~ G2i Cd, delivered on to consum-
er5 sldings III the Mldlands
"Output augmented in an unconscionable
degree"-for short, enormous over.produc-
ton; lower wages, declining steadily, works
shutting down: resulting in no wages; the
works still failing and no prospect Of early
improvement. Something Of this kind on
this side Of the Atlantic has been labeled
Protection" We may rename it and call
it Free Trade" in the one country which
ought 10 be able to prosper by free trade il
any country can. In this time Of his distress
the British workman has this consolation,
ii his wages are falling, they haven't far TO
fall; and that il he loses all he hasn't lost
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