Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1899-05-04

rate of close on 100000 tons a year In d.
rect competition with British producers
of the same kind of commodities, either
because the imported material isc heaper,
or better or cannot be produced at home
exactly of the character and qualities re-
quired. Probably all three conditions
have influenced, and continue to influence,
the present gigantic scale of our imports.
Probably, also, the British demand for
foreign manufactures of iron and steel
has been stimulated by the inability Of
home producers to satisfy. within tho
limits of time assigned for the purpose
the large demands Of certain classes of
consumers. This has certainly been true
Of a few products that have been in ex-
ceptionally large demand, such as blooms,
bllets and ship plates. But such crises
in industrial affairs are generally unde-
sirable and often dangerous 1t Is pro-
babe that many British consumers bav-
ing ascertaned where they can have their
wants satisfied by foreign producers, will
in the future keep the possibilities of low
er foreign prices prominently in view,
ard the foreigner will thus he afforded
It permanent opportunity the Ike OF
which he has never had before"
Nevertheless, the Times finds present
comfort in the recent rise in prices Of iron
and steel in the Unit ID States, until their
general range sis now as high as, and in
some cases above, those quoted in Great
Britain for similar commodities. So long
as this condition of affairs continues, tho
anxiety of British producers is materially
allayed but the duration of the boom is
now the uppcrmost topic of concern.
However this may be, there is much less
reason to apprehend a flood of American
imports Of iron and steel in 1899 than there
was at this time last year, and it is quite
possible that our imports for the next
three quarters Of 1899 will be on a much
smaller scale than those for the quarter
tust ended"
The Economist in its turn, while it adj
mits that the United states holds the key
Of the position" is stil more convinced
that there will hc no renewal Of American
competition while prices remain at their
present level beyond the Atlantic. It ar
CUES thus:
1T is quite certain America is DESTROYS
to retain the foreign trade which she has
already captured from this country, but
having no competition within her own
borders, she is bound first to supply the
home demands. These, as Is we'll known,
have expanded so as to require i very
considerable increase in their own pro-
duction, and it may be many months te-
fore this is accomplished. 1t is well
known that during the first quarter of the
year there has been no progress made to-
ward an enlarged production, nut II is eN-
pccted that now the cold weather is over,
some progress will he made in this direct
ion. As the production of last year was
nearly twelve million tons. and more than
two millions in excess of 1877, It Is not un-
reasonable to suppose that America may
be able to absorb thirteen to fourteen mil
lion tons of pig-iron FOR her own require
ments during 1899, and it will not he un-
til her production is in excess # these
huge figures that she vii be u competitor
with this country"