The times. [volume] (Richmond, Va.) 1890-1903, 1900-06-10

The Baltimore Manufacturers Record
OF last week contains an interesting in
terview with Mr.. Abram
'enoe"1Y " S. Hewitt on the outlook
Ne for iron
Mr.. Hewitts main contention is that We
have entered upon a period of perma-
nently higher prices, and he finds au-
thority for this statement. first, in the
rapid and continuous increase in iron
consumption, second, in the increasing
cost of production in Europe, which hith-
erto has set the standard for prices
throughout the world, and, lastly, in
the Capitalization OF business interests
affording greater facility for restriction
of output, and with it the maintenance
of the industry on more stable and a
more profitable basis.
Speaking of the iron industry in the
South he says:
The two great centers for dominating
the iron and steel of the world are to be
the Lake Superior region, with its Bes-
Semer ores, on one side, and Alabama,
with its basic ores, on the other. The
growth of the basic-steel industry, now
that it has been fairly started in the
ton, with its abundant stores of ore and
coal and limestone in such close proximity
as is found in Alabama, bids fair within
the next quarter Of a century to dominate,
the basc-steel industry OF the world. Be
fore the war I foresaw the strength OF
the South's iron-makinS possibilities,
and in 1857 had report made on
the whole Birmingham district. The war
came on and made it impossible to de-
Yelop these interests, and when the war
ended the iron and steel business had
become so strongly fixed in the North
that the South labored under great disad-
yantages Not only have I always shown
my faith in the South by my words, but
to the extent Of my ability outside of my
business interests in the North / have
been an investor in Southern iron and
coal nroDerties After the severe test
of the long years of depression following
1892 when Alabama S ability to make iron
in competition with the world had been
fully demonstrated, "A new era opened
for the Souths metallurgical interests.
No longer dependent upon the home
trade it has the world for its market.
In, foreign countries the cost of IRON
making is tending to increase by reason
of lessening supplies Of ore and coal or
greater cost in mining, but the South,
with its vast supplies of ore and coal.
can make iron without great increase
in cost for generations to come except
for the changes that may, occur from
time to time in the cost Of labor. The
South, therefore, has a great future un-
less it Yields to the fallacies. Of Populism
and rejects the Dreservative influence
Of sound currency based upon gold as
the standard of value
The people of The United States" says
a Washington correspondent ARE paying
s1,00aOoo a day for tropi-
Luxuries. ,s.at,...;s -,
drink, most of which are produced in
greater or less degree or can be readily
produced in the islands which hav come
into closer relationship with the United
States through the events of the last two
years. The April summary of COM
merce and finance. which has Just been
issued by the Treasury Bureau OF Sta
tistics, shows thatin the ten months end
ing with April, the imports of tropical
products have, been over $1,000 900 in
value. thus averaging fully s1,00N,OOO a
day, and indicating that for the full year
they Will reach $3.50, 900. Q00'