The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-08-09
Why Steel Imports
FIRE Increasing
Washington, Aug. .

lNCREASE OF SlV,VVV.Ww III I'M
| IN ports of iron and steel manufac-
N lures and n decrease of $40, 600. 900
in the exports of that class of
articles, Is the most striking 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 S27lSO,25j in value against
| $l1,S74,7S9 in the preceding year, while the
| exports of iron and steel manufactures
were sos, ,552,562 against sllI.310,320 in the
preceding year. This makes the imports
| of the year larger than those of any pre-
| ceding year since 1893. This subject is
| discussed as follows in the annual report
| of the chief of the bureau of statistics
| just completed:
1.-The most remarkable feature In the
years commerce in manufactures has
been that which relates to the movement
! in the manufactures of iron and steel
In this class of manufactures the exports
have fallen off $4,000, 900, in round figures
and the imports have increased $4,000, ,000
For many years prior to 1901 the exports
of iron and steel had steadily increased,
while imports had steadily decreased.
Expectations of iron and steel manufac-
lures increased from s12OOO,OOO in value
in 1880 to $l2l 900 in 1900. while imports
of iron and steel decreased from s67, ,0OO,
900 in 1882 to $l2,OoO,OOO in 1899. In 1901,
however, the exports of iron and steel
fell to $l110OO,000 and in 1902 to s9S,00O, 900,
while the imports of iron and steel in
creased to $20,0O0,000 in 1900. and to $27.
100000 in 1902. Thus the exports OF iron
and steel in the fiscal year Just ended
are s23.OOo,O0O below those of 1900, and the
imports of iron and steel are Sli.000000
above those of 1880; the total imports of
iron and steel for the year 1902 being
greater than in any year since 1885, This
increase in imports of iron and steel has
been general. practically every class
showing much larger figures of imports
in 1902 than in 1901. Tin plate, for exam
pie. shows an increase of over $2,0OO,000;
ingots, blooms. and bars over million
dollars: pig iron over million, and
other classes in about the same propor-
ton.
"'The cause of the remarkable increase
in imports and decrease in exports of
iron and steel is stated by the secretary
of the Iron and Steel association, Mr..
James NJ. Swnnk, in his annual report.
issued in 1902. as follows: "A marked
change has taken place in our foreign
trade in iron and steel since this subject
was prominently referred to in our an
nual reports in 1899 and 1900. In 1899 and
Immediately preceding years the iron and
steel industries in Europe were exception
ally prosperous; there was an active de-
mand and prices were high In the years
just prior to 1899 the prices of iron and
steel in the United States were lower
than they had ever been. Under these
conditions we naturally found opportuni-
ties to dispose of our surplus iron and
steel products in neutral markets, and
even in the home markets of our Euro
pean competitors. But these conditions
have materially changed; the European
demand and European prices have de-
clined and the home demand upon our
own iron and steel works has greatly in
creased while our prices have advanced;
hence sharper competition in neutral and
all foreign markets and increased foreign
competition in our own markets The
figures of increased imports and de-
creased exports of iron and steel should
not be hastily dismissed by our iron and
steel manufactures We hope that they
will lead them, instead to dismiss the
thought that the worlds markets for iron
and steel are to be easily captured and
held. The activity in our export trade in
iron and steel in the last few years was
exceptional and abnormal. Not only is
Europe adopting our improved methods
OF manufacture, but 1t will always have
cheap labor. and by these agencies it can
hold its own markets and actively and
aggressively contend for the possession of
neutral markets. For our iron and steer
industries. as We'll as Tor all other do
nestle manufacturing industries, our
home market must always be our best
market
"It seems not improper to add to the
above statement of the causes of reduc-
tion in exports of iron and steel that one
of the principal causes Of the low prices
in foreign markets seems likely to termi-
nate in the near future These reduc-
tions in prices We're. 1t is stated Oh good
authority, due in part to excessive eXpor-
tations of 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 reduced home demand
due to the recent temporary depression
existing in the industries of that country.
This surplus having been largely disposed
of and the depression having apparently |
passed its most acute stage, 1t Is believed |
that the exports of iron and steel from |
Germany will soon resume normal condi- |
tions both as to quantity and prices, and |
that with this, one of the important |
causes of the reduction in prices of iron |
and steel manufactures I'm the foreign |
markets will disappear and normal con- |
ditions in our own export trade be re-
sumed."