Arizona republican., 1902-08-11
THE IRON TIDE
 TURNS THIS WAY
Exports Diminishing, imports
 Steadily Increasing.
Among the Reasons Given, Low Prices and Lessening Demand Abroad - An Early Change of Conditions Is Predicted.

ten millions in imports of iron and steel manufacture and a decrease of nineteen millions in the exports of that class of articles, is the most strong character istic of the commerce of the year just ended. The total imports of iron and steel manufactures in the fiscal year just ended were $2I, 1902 in value, against $11S14, 1S9 in the preceding year. while the exports of iron and steel manufactures were sos. .562, against $1l1 .3l9. 300 in the preceding year. This makes the imports of the year larger than those of any preceding year since 1893. This subject is discussed as fol- lows in the annual report of the chief of the bureau of statistics just com pleted
 "The most remarkable feature of the years commerce in manufactures has been that which relates to the move . ment in the manufactures of iron and , steel In this class of manufactures the exports have fallen off $19,OO0, 900, in round figures. and the imports have increased $1G, ,0G0 000. For many years prior to 1901 the exports of iron and steel had steadily increased, while inn ports had steadily decreased. Exporta- ! tioHs Of iron and steel manufactures increased from $12,0GO 900 in value in | 1880 to S121 .O0O. GOO in 1900. while the inn ports Of iron and steel decreased from $67 COG, ,000 in 1882 to $12,O000O0 in 1899 In 1901, however. the exports of iron and steel fell to $117 0C0. 900 and in 1902 to S99, ,GC0.000, while the imports of iron and steel increased to $20, 1000 600 in 19)0 1 and $21, ,0JU, eco in 1862. Thus the inn ports of iron and steel in the fiscal year just ended are $23, ,000 GOO below those of 1900, and the imports of iron and steel are $14000. 900 above those of 1899; the total imports of iron and steel | for the year 1902 being greater than in any year since 1893. This increase in i imports of iron and steel has been gen | eral practically every class showing , much larger figures of imports in 1902 il; al in 1901. Tin plate. for example, shows an increase of over s2, 000 in gots, blooms and bars, over a million dollars; pig iron over million. and other classes in about the same pro- portion"
 The cause of the remarkable in crease in imports and decrease in ex- ports of iron and steel is stated by the 1 secretary of the Iron and Steel Associ- ation, MT. James M. Swank, in his an-
 nual report issued in 1902, as follows: l "A marked change has taken place in our foreign trade in iron and steel since this subject was prominently re- ferred. to in our annual reports of 1899 and 1900. In 1899 and immediately pre- ceding years the iron and steel indus
 tries in Europe were exceptionally i prosperous. There was an active de- mand and prices were high. In the
 
 iron and steel in the United States were lower than they had ever been.
 Under these conditions we naturally
 found opportunities to dispose Of our
 surplus iron and steel products in neu~
 tral markets, and even in the home
 markets of our European competitors.
 But these conditions have materially
 changed: the European demand and
 European prices have declined, and the
 home demand upon our own iron and
 steel works has greatly increased, while
 cur prices have advanced; hence sharp
 CT competition in neutral and all for
 eign markets and increased foreign
 competition in our markets. The fig
 ures of increased imports in decreased
 exports of iron and steel should not be
 hastily dismissed by our iron and steel manufa cturers. We hope that they
 will lead them. instead, to dismiss the
 thought that the worlds market for
 iron and steel are to be easily captured
 and held. The activity in our export 7 trade in iron and steel in the last few years was exceptional and abnormal.
 Not only in Europe adopting our i'm proved methods of manufacture. but it will always have cheap labor. and by I, these agencies it can hold its own 5 markets and actively and aggressively 7 contend for the possession of neutral markets. For our iron and steel in
 dustries. as well as for other domestic manufacturing industries. our home market must always be our best mar : ket"
 IL seems not improper to add to the
 above statement Of the causes of re-
 Guction in exports of iron and steel
 that one of the principal causes of the low prices in foreign markets l seems likely to terminate in the near ! future These reductions in prices 5 were. it is stated on good authority. = due in part to excessive exportations cf iron and steel manufactures from
 Germany, made at unusually low prices
 with the purpose of disposing of an accumulated surplus caused by over . production and the decreased home de- : mand due to the recent temporary de - pressiCn existing iii the industries o' 7 that country This surplus having e been largely disposed of. and the de e pression having apparently passed its y most acute stage, it is believed that D the experts of iron and steel from Ger c many will soon resume normal cOndi- q ticns. both as to quantity and prices t and that with this, one of the import y ant causes of the reduction in prices
 of iron and steel manufactures in the
 foreign markets will disappear an
 normal conditions in our own export
 trade will be resumed.