St. Landry democrat., 1890-08-02
THE DUTY AND PRICE OF
STEEL RAILS.

Commencing an article with the asser-
ton that, 1.-THE outcry raised by the steel
rail manufacturers over the reduction of
the duty on rails to $11 40 per ton fixed by
the Senate Finance Committee, ought to
open the eyes of the people to the real
character of what, in these later days, goes
by the name of Protection" the EUenlng
Post, referring to the fact that the price
of steel rails was about the same in this
country and England in the early part of
last winter, which time it mentions as "a
few weeks ago, says: The sole condi-
ton upon which Protective Tariff is ever
justified had been reached )" that as the
steel rail industry was established on
firm basis the duty should be totally re-
pealed, but instead of that the steel rail
makers are "raising heaven and earth to
prevent the reduction" 1t continues
"The truth is, that no duty at all is
needed on steel rails. The manufacturers
have for protection the cost of ocean
freight, insurance and commissions, which
cannot be less than So so per ton. They
have, for large portion of the cnuntry,
the advantage of inland freight also, and,
as we have said, the selling price is as
high in Great Britain as here, or, if there
is any difference, it is slight"
1t has been claimed that, however little
the Post generally knows of the subject
on which it writes, it knows its readers
thoroughly; but however much credit may
be given to the Post for ignorance. the
statement. "the selling price is as high IN
| Great Britain as here, or, if there is any
difference, it is slight" is scandalous IN
view of the fact that when it was written
| steel rails in England were selling. free on
board, at "a 10s., or at 800. Is, while at
the same time the average of the prices in
| New York, Philadelphia, Plttsburg and
| Chicago was $32 70 showing difference
| OF $12 81, or over 81 per cent. 1t is
doubly scandalous, as the assertion was
reproduced in it's weakly edition, the
Nation, paper devoted mainly to telling
| college professors, and others ignorant of
| the markets, what they are to think.
1t will be noticed that instead of the
| difference between the prices in the two
count les being slight, it is now larger
than the proposed Senate duty. Steel
rails in England last December were 81
per ton, and here they were $35 English
rails are now between 81 and $3.50 above
| their normal price, and American rails are
now s. % above the normal price of the
last two years, which was 5000 though
not so high as in last December, Aud here
it may be worth while to quote from the
iron Trade Circular, London, Of last
March: 1.-The production of pig iron at
present is exceedingly below the average.
| There are only ago furnaces in blast now,
as compared with 500 in March, 1880, when
| the American boom was on" In that
wear, we paid $97 80 on the average for
our steel rails, and our imports of iron and
| e.. +1,o4 1u cd OF xSn 4 AZ
| 1862, without freight, insurance and com :
m 8 sions, for all of which we had to send
| gold, securities and other commodities in
pa, ment to such large amount as to bring
on the business depression which was
Just lifting when the uawise action of the
Senate seems to have brought on enough
financial dietrust to spoil the anticipations
| of prosperous business year, which was
hoped for from the publication of the
Mckinley bill. Our English friends
caught US 81 ,rt in 1880, and in the three
years, 1SS0-S2, they took $2O9, 900, 600
| from us for iron in various shapes since
that we have more than dou bled our iron
production, and for the last three years,
we have contributed only $l4O,OOO,OOO to
the prosperity of their iron masters.
The desire of the Post is to increase our
average foreign purchases to what our
gains in population would justify, and not
only relight the l39 British blast furnaces,
| but to add to their number. This would
undoub tedly throw great deal more of
our wheat on to the English market,
which would give their workmen a still
cheaper loaf. and also would have kept
the late strikes, as there would not have
been such difference between the wages
of the two counties to make them dissat-
isGed. All of this would have been ex-
tremely pleasant for the capitalist class on
the other side, and would have added ma
terially to the wealth of the importers on
this side, but it would not have increased
the pros perity and wealth of this country