New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-01-08
GROUNDS FOR HOPE.

1t was idle to expect that business would i'm
mediately recover all 1t had lost In four Demo
cratic years. 1t was idle to suppose that the
recovery could he anywhere near complete
while the same laws continue In force and are
administered by the same officials in respect to
the admission Of foreign goods bearing ad va
loren rates. often most unfavoraby to Ameri-
can interests. Those who have pretended TO eX-
pect all the fruits Of a Republican Admnstra-
ton and policy before that policy had gone Into
operation or that administration had begun.
have taken pains 10 advertise their own want
of sincerity or of sense. But the starting OF
more manufacturing works with the opening OF
the year is evidence that the prospect of Re-
publican Government: is regarded by solid men
as sound reason for expecting better times.
The Maryland and Lackawanna Steel Works
have started part Of their plants. several large
carpet mills have gone into operation during the
last week. and other establishments in cOnsid-
cradle number. involving the increase OF many
thousands IN working force
II seems to some inconsistent with reviving
prosperity that wages have been reduced in
few large establishments manufacturing steel.
1t does not appear that all or most of the hands
I'm these establishments have had wages re-
duced. and the changes may be partly in the
nature Of readjustment as respects classes
which have been relatively better paid than
others. But there Is one obvious reason for ex-
pecting. In a small number Of steel making con-
Germs. lower wages than were paid before the
combination known as the billet pool ceased TO
control prices. For months the nominal price
for steel bilets was held at $40 80 in Pittsburg,
and open competition has now reduced it, &C.
cording to Pittsburg dispatches, to about SIS 80
per ton. As Bessemer pig costs over S10 and
the bare cost Of converting into bllets s usually
considered about IS per ton It appears that the
reduction in price has been as much as the en-
tire cost Of operation, wages and all, and if
competition is to continue the works will prob
ably be unable to pay as much as they could
while maintaining prices So higher than are
now paid.
The higher price Of billets was for months
one cause Of serious embarrassment in impor-
rant branches Of industry Thus the steel rail
mills fixed their price at $2S per ton, and in
consequence their deliveries during the whole of
last year were 100000 TONS against 1200OO0 in
1895 the capacity of the mills being over 1000
900 tons. Probably great many men had no
work at all In these establishments. because the
few billet makers kept prices high enough 10
pay better wages than they can now pay. The
tlnplate manufacturers also have been embar-
rassed in their rivalry with each other, some
being able and others not able to secure ad-
yantages as to prices OF material and the open
competition means for them. In all probability.
larger employment and more hands at work.
and a larger control Of the home market. II il
aasy to sec that in other branches Of manufac-
zp-c employing a great number Of hands the
reysz ton of demand and Of work which has