The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-03-02
WHAT ABOUT THE SMALLER con-
CERNSS

It is announced that several steel plants
in Pennsylvania, not included in Mr.. Nor
gan's billion dollar steel trust, have form
ed a combination, with the view, probd-
/ bly,, of protecting themselves, If a war of
prices should be inaugurated to drive them
out of business. There ore great many
iron and steel plants in different parts
of the country which have no connection
with that giant combination. Naturally
| there is a good deal of speculation as 10
the effect the combination. Will have upon
them. Here in the South the iron and
steel industry is but in its infancy. The
belief has been all along that the day was
not distant when Birmingham would be
la rival OF Piusburg in iron and steel
manufacturing. viii the Morgan trust
hinder the development q the iron and
| steel interest of that place?
! That is a question that cannot OF course
be answered at this time. There
is no doubt that the Morgan trust win
be operated to its full capacity, If it can
find "a market for its products. And it
will not show any favors TO smaller con-
Germs. But will It be able to manufacture
iron and steel at less cost than these
articles can be manufactured al Birming-
/ ham? 1t remains to be seen whether il
can or not. Up to the present time the
cheapest iron in the world has been made
at Birmingham. The making OF steel
/ is a comparatively new industry there.
Il is the understanding in New York,
If dispatches from that city contain true
statements of the situation. that Il is
the purpose of the Morgan trust 10 con-
1 troll the iron and steel business just az
the Standard OIL Company controls the
oil business. In that case the smaller steel
| concerns will have to fight for their eX-
! istence. 1t will he recalled that the
Standard OH Company would admit of
no opposition or competition. II was will
ing TO pay a fair price for small compa-
MES which stood in its way, but the
| statement has been made, time and time
again, that companies which undertook
TO fight it found they had a hard road 10
travel. They could not control prices but
| the Standard Oil could. The consequences
were just what might have been expected.
| IL is said not to be the purpose of the
Morgan combination to make the Ameri-
| can consumers of it's products pay such
prices as will enable it to undersen for
| eign manufacturers in their own mar
kets-that is. it is not it's purpose to make
home consumers pay more for its products
| than foreign consumers. 1t is 10 be said
to the credit OF the Standard Oil Company
/ that it has not used its monopoly to ex-
! act enormous profits in the home market
1t has been satisfied with moderate prof
1t. 1t is for that reason. probably, that
there is so little public sentiment against
that enormous trust, notwithstanding II
pays dividends amounting to more than
40 per cent. year.
l IL the Morgan trust follows the Stand
ard Oil in this matter il will keep down
a feeling of hostility TO it. Congress,
however, ought not TO assume that IL
will not use its power to rob the people.
1t should do what it can towards maxi
ing it impossible to rob them. 1t should
utilize the first opportunity to repeal the
protective duties on a1l kinds of steel and
iron products. The claim that these du-
ties are necessary for the protection OF
| tile sihaIeT manufacturers OF steer, mas no
| foundation. If there is a steel or iron
Plant I'm this country to-day that cannot
make either steel or iron at less cost
than either can be made in any other
| country, it has no excuse for existence.
This protective tariff question ought to
be attended to at once. Billion dollar steel
plants and protective duties on steel prod
ucts make a combination the people have
reason TO fear.