The times. [volume] (Richmond, Va.) 1890-1903, 1899-06-09
All Authorities Agree That the I'm
prOyement is Permanent.
Conditions Favorable for Manufac-
turc of Basic Steel Exist in Viz
ginia. Tennessee and Alabama.
Demand a Lasting One.

activity and prosperity of the iron and
steel interests. the Manufacturers IKE
cord under date OK May Both, asked IL
number 0f leading producers and con-
sumers OF iron and steel for their opinions
ON the following questions.
j. Have We. in your opinion. entered
upon "a period of such Increased con-
sumption of iron and steel as 20 indicate
the probability of continuance of seNc-
raj years OF tine present world wide ac-
uvty in this country?
O. VIII the dove Jpment Of our foreign
trade by furnishing an outlet in duH
times Tor iron and steel, probably prevent
tho recurrence OF such extreme dcpres-
s.0ns fro price as boo former periods
3 Are the indications favorable for an
overwhelming foreign market FOR our
iron. steel. machinery and kindred pro-
ductso
g. Wul the increased uses for iron and
steel. the development or a navy and
merchant marine. and the extension OF
our railways. added 90 the c0nsumptiye
requirements 0f eastern countries and
Africa. justify the belief I'm SIN greater
expansion OF the iron and steel Grade OF
the entire world during the next 1--WE or
ten years?
MIR. HEWITTs OPINION.
In reply % these questions. Hon. Abram
S Hewitt. who has "a worldwide reputa-
ton for the accuracy Of IBIS predictions
on iron matters. Mr.. Il. u. Gary Dresi-
dent of the Federal Steel Company. and
"a number Of other authorities have given
their views. which we publish to-day.
There is almost unanimous belief in
continuance Of great activity for the next
TWO or three years, and a steady eNpan-
sion Of production and OK tho world
Trrr D. .H H..H o
development Of our foreign trade viii pre-
vent recurrence OF the very low prices
heretofore prevailing I'm times OF depres-
iion. and that even after the ma ural re-
action Of few years hence of the pres
emit phenomenal activity we shall not
have to go back 90 Improbable prices.
These letters viii prove OF general I'M
terest:
Mr. Hewitt says. NO one familiar with
the past history Of the iron trade need
Doe surprised 40 the present demand.
which undoubtedly exceeds the ability 0f
the world % supply the material re-
CURED In 1%0 1 ventured 10 make a
prediction ass % the requirements OF the
world for iron during the foiiowing
hundred years, giving estimates Of the
production and the consumption for each
period ~ ten years The figures then
given have been verified n "a very sur
pr.s.ng way. 10 is estimated that tho
demand OF the world would require 35o06
'.' IONS OF pis iron oy me 4'l OF d "Iutry'
lF.'' l'''- u I'D Ely ii i"' year -'.' lne
returns aH'" lNi- iH.' p'''i"'' OF p'@
iron was produced and consumed in the
year 1898. the exact limit having been
reached ono year in advance Of the pre-
dIotoI time. 10 must Doe imagined. how
ever th1l me increase IA pioH"c ,io" ana
C'"a@''i ''o" pi".''l5 "' d. l'e"'". f'0
from '"l 10 car. Il'.. .'l. p'i "'
~, .-,.,,'-.. -. - -.,. ,ot,,,,...
A.. +i,, ..,.-- a., t..,,--..l.i t.,-.-,s an
~. i.. ,.... t.,+ g. t.. ,,.,..- 49,, ,.,,,,
49,. en- 3D., ..,.t,.'.t-,, 20 .t,. ,,.,,,4 -.
.t ... .-..t co.. ..-.......t.'..
ro,, .r.,.t,p,r vr.pe
.,-.... | -. 49,. .
every ,e'so" I'D A.e'l d l.i,'D oi '1lt,
og'i'I1 "... OF - .a. @,'..'.s .o. Inc neA'
TWO 'i 'Nl'e years. "'''I ""l.u 'i''e
'"a usual excess OF ''''" "l.A teN'.
'H' que ,l'''-" '' %,
EI'"t ll''5 l. .'o9' VIII seem 10 ne quiet anu
SON. "ii'l 9.'7li.-i'.
inc ,l"il-e .Iol" IRON 20 s''.L now
'el' val ''o''i' '"' ''.
"'.''H' UPON VINO" 'i' "'li' 9'Fi'S
""l "e i'iill-il'u' rom our possession
OF me cheapest Ilel ln iHr "olid we are
ln CONDITION To uhder-el All compeu-
tors and therefore. from tins time for
ward we VIII have "a large and increasing
foreign demand for our steel products.
The export trade has come Cd stay and
tho doctrines Of profession has met with
the inevitable doom which ] predicted in
l,,3 in the discussion in Congress on the
tariff. wherein. I tried tO make clear not
merely the conditions Of production. bat
the certainty that before the close Il the
century this country would necessarily
Doe the greatest producer and exporter OF
iron and steel ia the world. We have the
ability 20 meet any conceivable demand.
and although. as believe. by the middle
Of the next century the world will Doe
using very much more than 10 00) 90 tons
Der annum the resources Of mis- count-,
will be ADEQUATE TO meet ,he reouira-
ments of advancing civilization based
upon Industrial progress such as rnau-
kind has never seen"
To this review of the general iron and
steel situation Mr. Hewitt writes a suc-
Cidl letter about the South in which he
SAYS:
"In the South the extensive deposits of
ores containing phosphorus constitute "A
natural foundation upon which To build
mp the manufacture OF basic steel The
conditions favorable for this result exist
I'm virginia. Tennessee and Alabama.
Already the beginning H. been made
and / think 10 is safe 10 predict that the
main supply Of basic steel will be in the