Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1884-01-01
"THE REAL ISSUE"
Hewitt on the Depression of the
Iron Trade.
HIS PLEA FOR A TARIFF REDUCTION
TIE Causes that Have Brought About the
Present Extreme DuIIoess, ard
How They Can be Wisely
Avoided.

Albany, y. Y. December 81 Following
is an abstract Of the letter written 10 the
Albany Argus by Congressman Abram 5
Hewitt:
As matter OF fact, prior to lS7S, under
the highest tariff ever known in this cluu-
try. we had long period Of depression in
the iron business. But about that time
railway enterprises were undertaken -
large scale, producing a sudden demand
Tor more iron and steel than the world
vas prepared TO supply. Prices advanced
all over the world, and TO those prices wss
added the very high rate OF duty :hen pre-
vaiIing upon foreign iron brought in,otni'
ness became excessive, ani the owaers of
existing works proceeded to enlarge their
capacity TO the utmost, in order 10 gather
this harvest OF great profits, while new
capital was attracted into field in which
the returns were known 20 be abnOrmally
large. The business being thus oyerdoue
ac.ut OF iron resulted. and the reaction
has brought abou, state OF things eyen
worse than that which existed prio- TO
I>.>.
Causes Of The Existing EviI.
Tie evil from winch We now suiier il,
therefore, largely due to tie fact tha, the
war tarin imposed higher duties than were
needed for protection, thus giving eXces-
Sivc profits t. the maDuiaC' in a
period when the profits wouli nave b,rn
l. \,
duties. We are suffering f.0m unnatural
stimulation, which aggravated the CXriIr-
ncut when the pUbIr interest required
that II should be aLrayed, and now ga
Yates the depression by the excess r1r c.DIC-
tIy for production which it eugrndtrtd.
How long this depression Will continue no
man can predict Bat inosmucn ~ trts uf
Prosperity ana depression succeed r.rh
Dlier III cycles IL l. certain that sONHsr or
al'r " shall come HEltn 10 the period
wlcn the demand for iron Will exceed the
supply. Mess OUr revenue icTlsia-
Ion be meanwhile reformed We shall
ie'ieUCe through which We have
IassCi since l>,N, an experience whI.h
-rUWs tLa, excessive prUIlI- are IN rrtIly.
NJ no real benefit e'the- to the mauuficrI-
--s, eNCeut in rare instances. or to the
country at targe, while ;rr eyi.s resulting
fruul them ave seriuIIS InCy Are esurrIally
:riIr ous 10 IT.. VprL iys,urn Of the coma.
IN ,,ho sre the cbi,f suI',rars when the
ir,y,,ahlc reaction - unnatural pApln,iol
ra-rnws the ii,ld Of ,mrIoymcnt for lanor.
,h,Ics.,,uorI
,r,,.,,,.., .,...I r...,
i@' lesson 10 o' "'i'''" ''"'" 'n'' rNP'-
GIehCe Is That l"e d.!l,S 90 "a. Ennis q! ron
should never ttr,sl tl:n ,uHr.f pu,,.b'e
,,,.iutvhi.., IN Tina - ds,..,...i.,r v,II
Wo'C'I the "oiNrstIC h!'rh'' from tu' " "''u
of foreign iron which Otherwise might be
,,,rra6 irtnL Ian GI,L ral.s of ,lrI,y.
-,..s-,. r-.... -, 49,. a.,
PioN'"'d '"'S are s"e"'"'' VIII vi ''' NV
"raSC, yield the largest amount % r'vrHd..
because, when the TTice rIi's ani ~" pr
queer no longer needs protection, tho con-
sumer who does need pTo,ecuOr can ih"n
sUFply his wants alta fair priCr IN the for.
elGu market without payInH u. increased
Cuty II he cannot get eGiu.'y la.F terms "t
bone.
- lar - eny reir' can o' pro'l"'l ny
legislation Tor u. eNiSuhI SiIi' o. Hiairs
the remedy must he iOund, Ursi, IN irtelng
.N IL