Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1891-04-28

The Iron Industry.
Galveston News.
While the signs in almost every d.
rection are accepted by commercial
| authorities as indicative OF q good bust
ness year, and money has for some time
been easy In New York, decline in the
price and consequently in the production
Of iron is noted as an exception. But
perhaps this phenomenon can be explained
without admitting it as really bad
sign. AS regards the cheapening Of iron.
that has been certainty for some years
past, especially through the develop
ment Of southern mines As this pro
duction increased there had to be com
petition, and the stock was increased
in the latter part Of last year
much beyond the demand. Grant that
the demand had become for time sta
tionary. or even that 1t declined. the
course Of production was not slackened at
once, and the financial stringency lasted
longer than 1t was expected. The de-
crease IN iron production supervened, and
much progress may be already made
towards q restoration Of the equilibrium,
for In March the output of anthracite
coal iron was ons-sixth less than in
the preceding month Moreover this is
not SO much a national decrease as q
yielding by Pennsylvania before South.
ern competition. A part OF the decrease
is attributed by Northern ex-
perts to a speculative process
having run its course Iron is
developed in new regions, and imme-
diately production Is entered upon, not
siugly TO put iron on the market, but
partly to show the capacity Of the land,
and thus to assist land dealing, In con-
nection with this stimulus to produc-
ton, there was couple OF years sgo,
aid further back, considerable boom In
building ia many places consuming
good deal OF iron This came to an end
when there we're enough buildings. For
another building boom they will have to
wait While there is certain amount
Of truth In this, IL does not seem to 20
so far in explanation as the railway
situation. Not only has there been
little new building. but IL may be seen
that there has been no large degree OF
confidence to stimulate liberal OUTLAWS IN
replacing partly worn plants. That
progress IN settlement 81 the country
aud building up new towns goes on by
leaps and rests is no surprise That the
hope Of development Of new sections
stimulates advance enterprises in mining
and manufacturing with land speculative
attachments is q fact, though but
minor incident In the progress which the
Southern industries are making. Mean
while the actual settlement OF the coun-
/ try and the increase of wealth are de
pendent upon two factors, both certain
increase Of population and Of mastery in
the practical arts. Questions Of distri-
button of wealth may perplex the states
msn and any errors In theory in
this regard will so far affect the total
wealth as labor may be checked or the
moral tone OF people may be
impaired reacting on industrial capacity,
organization. peace and cheerfulness; but
with due allowance for such incidental
considerations the national weelth being
the product Of the labor Of the whole
people. goes on and must ever 20 on 10
proportion to their labors intelliRently
applied. When their managers OF indus
try have ventured beyond demand at one
point the position has to be equalized
either by export or greater home con-
sumption. With the rise of the South In
the productive scale Of ability to embrace
the former of these alternatives will be
naturally reached because here American
skill has for the first time the most
favorable condition upon which to exert
itself.