New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-21
THE BETTER OUTLOOK FOR INDUSTRY.

There are signs Of promise. In the neighbour
hood of Wall Street 1t may not be
easy 10 see those signs. Bat III the heart of the
country. where the clamor of speculation Is
drowned in the rattle and roar Of productive
industry, the change since the defeat of the
tariff bill is already pcrccptble Evidences of
this come thckly in the mails andon the wires,
but close investigation ut great centres OF pro-
duction enables The TRIBUNE to report with
definitencss an improved feeling in the iron and
steel industry. OF all orr great branches OF
business, no other is better barometer OF the
conditions which affect the general prosperity.
The change observed, moreover Is distinctly
not Eighty or speculative one: 1t does not lead
TO sudden advance in prices or TO rush TO BUY
for an advance anticipated; but 1t IS tor that
very reason all the more encouraging. FRO
duceis look with less apprehension to the future
The men. though working at low wages, feel
hopeful that a further decline may not be COM
peeled BY a reduction Of duties. Orders are not
as large or numerous Is producers would Ike 10
have them. but they assure the continuance or
production at the important works for months
to come and show signs of improvement. YER
haps the sureSt evidence of an Increasing de-
mand is the fact that there is not only very
LARGE volume of business now being transacted
at such centrcs-at PlttsbuIS Z, for instance tine
largest exchanges ever known, apart from the
speculation in oil-but, ut every point where
| there are works of wcll-establishcd reputation,
there are seen preparations for adding to the
plant or increasing the variety OF the product.
The general evidence of improvement Is
strong Bat at Pittsburg there is apprehension
of another struggle about wages. The puddlers,
who have succeeded thus far in keeping their
wages at rate - per cent higher than the
rate paid at Eastern mills, have failed to agree
with the manufacturers as to the scale for the
wear beginning June /, and a strike is threat
encd unless one side or the other makes con-
ccssions before that date. The manufacturers
took action, however, before the defeat Of the
Morrison bill had removed the fear of tariff
changes this year, and the men also. There Is
still possibility that wastetul contest may
be averted by a wise regard for the interests OF
the manufacture in that quarter, which has 10
compete with powerful rivals at other points
where labor is less costly. Among the men, 1t
NAV be added, the remark is often heard that
freaucnt controversies and stOppagcs have
made high wages really worth less to the worker
than the lower wages, with constant work, at
some other points further east 1t would seem
clearly for the interest both of employer and
employed to avoid a controversy this year
The large importation of foreign ores last year,
and during part of the current year, does not
appear to have been altogether prejudiclal to
home industry. At not few points, where the
manufacture of Bessemer iron could not have
been carried on without a considerable admlx-
ture of the foreign ores, the supply of such ores
has enabled furnaces to use an immense quantity
of American ore also. The increase Of duty, as
the official records prove, has fallen wholly upon
the foreign producer, who has been obliged to
sell at lower price in order to sell ut all.
1t is not to be inferred that another great
8boom in iron and steel is close at hand. But
there has been u marvellous broadening in the
demand for tho metals, and they are going into
use in great many ways and forms previously
unknown. In the making Of bridges and built
ings, implements of all kinds and machinery
and even in paving, profitable uses not i'm
agined until recently are now found for iron and
steel. With this increase in uses, for which the
way has been opened by the low prices prevail
ing, sagaciOus manufacturers find reason to
hope that a further decline may be prevented
that the product of the country may soon be
fully consumed, and that the manufacture will
find itself on more solid footing than it has
hitherto attained.