St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-05-10

has been so clamOrouS for legislation
which would build up a home market as
has the iron and steel industry. 1t was
the especial defender and solicitor of
that branch, "Pig-Iron KELLEY" who
would have secured the home market
from intrusion by converting the oceans
into seas of fire. 1t is pity that KELLEY
has passed over into the unprotected
country. so that he cannot witness the
practical result of his home market
theory in his own pet and particular
line.
JAMES SWANK, who has been as ar
dent defender of protection and advO-
cate of the home market theory as was
KELLEY, is secretary Of the Steel and
iron association. He is also one of
them literary fellers" whose essays
were printed by his association and
scattered gratuitousiy over the land to
convince people of the beauty, the ben
eficence and divinity of protection and
the home market. He has just issued
his report of the condition of the iron
and steel industry during the year, and
its tone is decidedly lugubrious. 1t
sadly lacks the jaunty air which char
acterized his pamphlets political. He
is obliged to admit that the year has
not been prosperous one; sit was a
year of very good profits for very few
iron and steel manufacturers of small
profits for many, and Of no profits for a
large number"
Seeking for the cause of this depres-
sion. the secretary finds that it is mainly
due to the fact that the capacity to pro-
duce is very much greater than is the
capacity of the country to consume. In
other words, the home market which
they have built up with so much care
and guarded so sedulOusly,n now that they
have it, is not able to take all they can
make, and the manufacturers are in the
doleful dumps in consequence. The
country HAD paid an enormous bonus
for this home market for the steel and
iron men, and, just at the point when it
should have lusty appetite with good
digestion for all they could stuff into it.,
it goes into a fit of indigestion and coma
The plants in this country can turn out
100000 tons of steel rails every year,
while the consumption is only about
! 1900 600 tons.
Other facts, however. show what is
the matter with the home market. 1t
was guarded by tax of Sl344 ton on
imports of steel rails. According to the
| Minneapolis platform, this was laid to
compensate for the difference in labor
| cost here and abroad" The price of
rails now is 500 ton, reduction of
about a dollar from recent prices.
| English rails are S1S.25 a ton free on
board. They can be laid down in New
York for about S21. The entire cost of
| production here, labor and all, is S21 a
ton, or 1915 more than in England. as
Stunning that this difference is all in
labor, and we have tax to compensate
for the difference which is five times
that difference. 1t is evident that it is
more largely the eXactlons of the steel
and iron combination, reducing by in
creased cost the ability to buy, which
has impaired the power of the country
! to consume all they can make. The
consumption of steel rails, like that of
everything else, increases in a some
what larger ratio than the decrease of
cost. Still, the home market is what
these men have made it, and they should
take their product and look pleasant.
| --zzz2Esa--
LAST Sunday the New York World
came out with 100 pages. the largest
issue ever made in America, and prob
ably in the world. 1t is a library OIL
current information and interesting
features of all sorts, with beautiful
Illustrations, some of which are colored
and as delicately tinted as paintings.
This paper seems to have reached the
acme of enterprise in journalism, and
set rapid pace for American neWSpa-
per work. The World stands today
without peer, and is a most remark
able demonstration of what can be made
of paper through proper management.
JOSEPH PULITZER has arisen from q
reporter to his throne. He took hold Of
the World ten years ago, when it was at
the foot in New York and laughing
stocl in the profession, and through his
marvellous ability as manager forced it
to the front, easily climbing above the
papers which had enjoyed years O
prestige as being at the head. A sketcl
of the life of Mr.. PULITZER is given, o
the career of the st. Louis PoSt-Dis-
patch, which he built up before he took
hold of the World. and still owns, and
also the career OF the World. There are
neatly written sketches of the various
newspaper men who have been asso
ciated with him. 1t is altogether a
marvellous Sunday edition, which must
be seen to be fully mprehended.