New-York tribune., 1899-05-06
THE HOSTING OF PRICES.

Somo OF the trade Journals are beginning 10
crccest that prices are being pushed too high
bv some new combinations. The iron Age
saws that ION some commodities an unreasoha
"ble height has already been attained ana that
consumption will be checked by the growing
"conyiction that prices are too Inflated 10 lhS''
and instances the advance in copper winch mas
in fact risen from 12.9 cents for Lake on Jahu-
ory to 1925 cents, an advance OF AZ per cent
This is in large degree a foreign rather IMAM
domestic change. as the price Is mainly COLI
trolled by the London market and the foreign
demand The same paper observes that "lroh
"and steel producers arc not altogether without
"h,ame in this respect" 1t would seem not
I,or instance wire nails are quoted at ~ lO
AGAINST 81 % last December, an advance or ~
NOR cent which Is considerably more than the
rise in copper The public castigation of the
milder sinner IS not readily explained
Cut nails have advanced since January
.bout 63 Der cent Bar iron at Pittsburg has
advanced about 5s per cent. Tank steer pia'es
o+ philodelphia have advanced about 10 per
cent In some respects the worst sinner Oh "ii
Is the tinplate combination, which has adVanceu
nrices from 50 81 for hundredpound boxes 10
81 O5. or "a per cent, because the Industry owes
IT'S very existence to the help given 1t by duties
on imports and sets up the foreign price OF 'lh
ms an excuse though the tin makes but sniaI
fraction of the cost, and has risen since Decem-
her / only 40 per cent 1t would seem tha'
such sinners rs these might be publicly men
toned as we'll as the copper people whose HIT
ket is in fact largely controlled ABROAD
In general the criticism is entirely Just ana
ought TO be needed by those who are coh'rol
ling the great industries 1t is not exactly the
right time to be milking the country 10 the laS'
drop in order TO realize quick ana Dig proh's
for works largely established by aid OF It's laws
There Is coming a time when such advances Ill
price will be publicly discussed as evidence tla'
the National policy has placed consumers at the
mercy Of all sorts of combinations when snow
no sense of regard for the public welfare. Ihit
,s q charge which will surely be made, ana VIII
have some weight however unfair In IFS apph-
cation IL may be, and the people who are has'eh
ing to screw all they can out of the country
business AZ this time. when much depends upon
maintaining it's foreign trade, are not acting as
friends of American industries. In fact, they
are the worst enemies those Industries can
have. and it is poor consolation that they are
likely TO prove their own worst enemies.
For when prices are being hoisted by natu-
rol rush of orders exceeding the production. OF
bv artificial combinations or agreements. there
is always a rush to anticipate future wants d!
oorIv orders. so that the demand at such times
usually seems to be considerably larger thah
the ordinary requirements for consumption
But after n considerable advance has been made
the new orders begin to fall off although at the
same time the production is increasing under
the stimulus of higher demand. and wages are
raised by the legitimate desire of the workers TO
share in the profits Of the business Material
rises wages rise demand for products halts ana
waits because dealers and consumers have an
ticinated their needs TO some extent and yet
production increases. The natural and legltl-
mate consequence is one which the makers OF
artificial prices cannot desire, unless they are
nrotected by sales of their properties to Dig
corporations so that they can realize on tpeir
stock But that is not industry. 1t is some
thing which American industries will find far
from helpful when the reaction comes.