Evening journal., 1892-09-27
HARRIsON'S ERRORS.
The Financial Returns of the New 81 'ecieS
Of Industry Promoted by Governmental
Aid.

The Financial Returns OF the New ~ 0''0'
of Industry Promoted by Governn,ei. tai
Aid.
The Hon. Thomas L. Bunting, congress
man from the Thirty-third district Of
New York, has replied through the
columns of the National Provisioner to
that portion of Mr.. Harrisons letter Of
acceptance which relates TO tin plate.
IL any apology were needed for the
undertaking Of this task of Mr.. Bunting,
the manner in which he discharged it
would be ample. He is admirably
equipped for the purpose, being manager
Of a canning company, as well as inter
ested in farming, dairy and stock raising
In short, a thorough business man, but
especially well-informed with reference
to tin plate, of which he is a large pur-
chaser. His answer to the cheap second
hand statements of the president is in
the nature Of a Knockout
In his letter Mr.. Harrison revamps the
following stereotyped assertions put into
circulation years ago by the notorious
Cronemeyer:
"Once or twice in our history the pro
duction Of tinplates had been attempted
and the price obtained by Welsh makers
would have enabled our makers TO pro-
duce it at a profit. But the Welsh max
ers at once cut prices to a point that
drove the American beginners out of
business, and when this was accom-
plished again made their own prices"
All who have followed the course Of
tariff discussion for a few years know
how often this pretense has been put for
ward and how often it has been exposed.
Mr.. Bunting's answer to it is brief and
effectual He shows that the reduction
of prices for the purpose of driving
| the American tin-plate makers out Of
business did not occur. Prices, indeed
receded, and afterward advanced, but in
both cases the change was coincident
with changes in the price of pig tin and
iron. These two ingredients, he says,
constitute the entire bulk of tin plates
and 30 per cent. of their cost.
How and why prices varied Mr.. Bunt-
lug proceeds TO show in detail. In 1872
pig iron was quoted at l59 pounds sterl-
ing per ton by 1878 it had declined to
80 pounds. Pig iron in 1872 was $53 per
ton; in 1878, $16.50 The price of tin
plate followed that of the ingredients of
which IL was made. It was worth
twenty-siX shillings a box in 1872, and
twelce shillings and one and one-half
pence in 1878. The percentage Of de-
cline of tin plate was not so great as
that of iron and tin: and yet this is the
very period when the Welsh tin plate
makers are said TO have put down prices
to run the American makers out. The
Welshmen, in fact. were then making
better profits than in 1872
In 1880 pig tin and iron were up again,
the former to 105 pounds, the latter to
/ s,1n uIrr Il I.r.N
the prices of raw materials declined
prices had downward tendency until
the passage of the Mckinley bill became
certainty, when the .Welshmen seized
the opportunity to get their share of the
spoils, and put up prices until after the
extraordinary demand was past.
Since the Mckinley bill was passed the
country has consumed 800, 600, QUO
pounds of tin plate We have produced
at home about 13, 100000 pounds by dip.
ping foreign plate in foreign tin-one per
cent. of the consumption The increased
price of tin plate to consumers Mr.. Bunt.
ing puts at $25, O00,00 Against this he
sets the wages paid to imported Welsh
men for timing the plates, which al
twelve cents box would amount TO SIG,
376, less than eighty cents for every
$3.50 paid out.
The financial returns from this sort Of
''new industry" Mr.. Bunting illustrate:
in striking way. He says Mr.. Harri
sons administration might, if it chose
have ignored the Hudson river and mad,
canal parallel to it. This would hav,
given employment to vast number o
men and required the purchase Of larg'
amount of material II would have beer
great burden TO the people and bar
rier to transportation yet it would be
new industry, and not half so unprofta
bic as the tin plate industry has provei
to be-
Mr.. Bunting has shown himself to be
most deligent and capable student o
markets Mr., Harrison ought to thanl
him for adding to his knowledge of mar
kets, on which he has heretofore lai
great STRESS but it is hardly probabl
that his gratitude will be very effusive
Louisville Courier journal.