The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-03
ALARM In ENGLAND GROWS
The Invasion of American Compe-
titiOn Attracts Greater Attention.
All Glasses Forced to Face n SERIOUS
Problem by the steel Combine-De-
spniring views Held by Many Pa
pers - Suggestions for n Remedy.
(speeial cablegram-coprrighte.l.l


LONDON. March 2-Engiandrs indus
trial panic at sight of the great iavasiou
of American competition continues to
grow and now holds the attention of all
classes These include the most short
sighted of all classes in this countryside
trades unionists 1t has required the si-
gantic spectacle OF the American steel
combine to bring dim realization to
some OF the labor leaders that their
policy. perhaps has had something to do
with the impending disaster to British in
dustrios.
One reads with establishment this week
an article by Keir Har.ie. Member of
Parliament. for Merthyr-J'ydv and edi-
tor OF the Labor Leader in which the
writer makes the vital admission that, al
though wages in America are double those
of the English workingmen. yet the cost
Of labor in making steel IN the United
States is only one-half the cost of the
same in England The admission is an
exact equivalent to a confession that the
British workman Is lazy does not know
his business.
IL IL a desperate condition which will
bring such a statement from man of
Hardie's prominence in labor councils and
1t signifies also that the trades unionists
British workmen must work for their
wages or go to the wall. II will require
a revolution in trades unions. however,
before the reversal of the policy of a
generation can be accomplished and II
can hardly be doubted also that the re-
form will be too late.
The closing of iron and steel works,
which has already begun. will be general
within a few months. and trade once
lost will not be regained when Americas
great natural advantages are also in the
! opposite scale
The press of all classes teens with
comment and advice en- the situation.
Some OF these comments are sensible but
most of them are absurd. Yesterdays
Commercial Intelligence" leading in
dustrial Journal offers this counsel OF
despair:
There is one thing left for the British
manufacturer before he settles down into
the fatalistic belief that the success and
Final triumph of America Is inevitable in
the worlds great industries Let him
seek out the most able men in the coun-
Iry, men who are accustomed TO con-
duct enquiries OF magnitude, and to in
Vestlgate complicated business problems
ana nave them make report of the con-
d:tions and the remedy required to allay
the present state of apprehension
The Spectator, in a long article in
which II seems to be convinced that the
British steel and iron industries must sue
cuup D1fore Americas great combins-
ton, finds these interesting compensa-
tions:
IF. through cheaper steel. consider
able amount of capital, and labor which
IL now employed here in the manufacture
Of that essential of civilization, ceases to
lind an adequate reward, there must be a
corresponding gain to all connected with
those industries Il: the raw material
american engineering competition is, no
doubt, serious enough in many depart
ments and bids fair to become more So
hut Jlist in so far as Mr.. Morgans cor
poratfon provides or Indirectly secures to
our engineers cheaper -teei than they
would otherwise obtain will IL mitigate
the severity of transatlantic rivalry in
regard TO the finished product. There is
another compensation, from a national
point of view, for the loss our steel in
dustry may suffer IL was the immense
demand for the British iron and steel in
dustries last year which was largely re-
sponsibe for the extravagant prices of
fuel from which all British Industries
suffered serious inconvenience and con-
siderable injury. If the requirements OF
our blast furnace owners and steel manu-
facturers are kept down We shall escape a
recurrence of the coal boom which will be
distinctly to the good.
Again. if iron and steel become cheaper
the shfpbuilding trade, the building trade,
and all trades using steel and iron can
not fail to benefit thereby. On the whole,
therefore, there are excellent reasons why
we should not speak or think il Messrs.
Morgan and Schwab had their hands en-
our throat and our national industry.
Their efforts may do us good in many re-
spects. rather than harm. and it is our
hope also that the traditional energy and
recently much developed scientific re-
sources of the iron masters Of Great Brit
ain will prove equal to the strain Of the
new and unquestionably serious situa-
ton.