The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1890-04-12


s'Bradstrcets" Of March 22 gives some
interesting tables gathercdfrom Treasury
reports relating To our imports OF iron
and wool. Our imports Of iron ore IN
1889 were 81 ,5O7 ,65S, against $l,5s6,-
597 in 1888, varying in the interval sub
stantially according 10 the prevailing
prices 81 foreign ores. The average value
of iron ores imported annually during
the five years. SS4-9--w was 81 ,502, lib.
There appears 10 have been no material
increase in quantity since 1883, when IL
amounted 10 COZ, ITO tons. Ia 1850 it
WAS Coz ,O32 tons In the years 1887
and 1888 the quantity WIS largely in
creased, owing TO the exceptionally low
prices IN Europe during those years.
The remarkable feature TO these inn
portations IL the rapid growth Of our
receipts 81 iron ore from Cuba. Before
1855 they were not large enough to he
recorded But in 1859 they amounted
10 225 ,.J25 tons. or nearly one-third Of
our total imports Of iron ore. while in
the same time there has been n corros-
pnnding falling off Of our receipts rom
those counties which have formerly
supplied rs.
Our imports Of iron and steel, il is TO
since 1870. They amounted at that
time to about forty million Of dollars.
fn 1850 they amounted Co something
over forty-two millions The average
annual amonnt ia the ten years 1903
VAS fl z million dollars In the years
iSSO-9 it was 5o7 million dollars
These figures nre interesting. but TO
give them any vital worth they should be
contWstcd with The growth Of our pop
ulation aud the increase OF our home
production This essential comparison
is omitted 10y Bradstreets, and hence it
is enabled 90 draw conclusions disparng-
ing % our home Industries. which a fall
view oi the facts does not Justify
In 1870, with a population Of thirty
eight millions, we importedio forty millions
ni dollars worth 81 iron and steel, or
Sl.o5 per capita w 1850, with pop
ulatiou 81 sixty-four millions. we inn
ported iorty-teo million dollars worth,
cor eishiy-iour cents per capita
During the period from 1870 60 1889
our population increased about seventy
per cent Ia the same time our home
consumption of zig iron, and consequent
~ our iron aud steel productions
increased foudold. 10 other words, our
imports 81 iron and steel are less per
capita than they were twenty years ago.
while our home production has Increased
10 the same time more than four times
ar fast as population.
Similar Conclusions will be reached il
we compare the imports with the home
production 81 both wool and wooden
goods The imports per capita have
fallen of ia the past thirty years, while,
on the other hand, our home production
~ wool and wooden goods has increased
two and bali times as fast as popula-
tion.
The first lesson to be drawn from these
data, is not that foreign iron ore or
wool, and foreign iron and steel aud
wooden goods are Indispensable" 60 the
American people. bat that we are fast
approaching a time when these imports
will be Insignificant rs compared with
the home production. aud, as regards
these two important and essential
articles Of universal use, the American
people will have attained economic i'm
dependence
The second lesson is that the great
national policy Of industrial seli-dcicnsc
aud sell-rehuucc, which has achieved
such magnificent success ia these two
great industries should be- vigorously
maintained, not only as 10 them, but as
to every brunch 81 industry for which
our people and our country areadapted
American Economist.