New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-11-20

from one section against another. the Invasion
of British territory by German. Belgian ana
American competitors will be likely to hasten
this concentration of manufacturing interests.
The force of German competition has dimin-
ished In this trade during recent months but
1t will probably increase with the adoption OF
superior business methods The steelmaking
corporations and firms in Germany are few in
number and are easily brought under central
ized management; and the coal and iron mining
interests virtually under the same control
The home trade has been perfectly regulated
by this combination, and arrangements have
been made for working the export trade with
equal efficiency and thoroughness. So long as
the producers acted independently in the for
eign market their cuts in prices were apt to be
too wide and wasteful What the syndicate is
now hoping to do is to undersell British manu-
facturers on their ground without sacrific
ing their margin for profit Selling agents have
been appointed for British territory, and the
business of competing with manufacturers here
viii be conducted most Systematically. In this
way the export prices will be fixed as surely as
the domestic prices. and the members Of the
syndicate instead OF competing recklessly with
one another for foreign trade, will cooperate in
securing business profitable terms. There
will be combination dumping prices based upon
the reports Of the selling agents. This will be
dustry will be conducted with resources Of SUI
perior organization.
Dumping is not managed in this way in Free
Trade England yet It is done already on large
scale Prices for export are much lower than
for the hone trade in many lines of manufact-
IRE When goods are manufactured for domes-
tic consumption there Is q good margin for
profit When the same goods are sold to Ameri-
can or German purchasers. the export discounts
are expected TO cover the tariff duties AND the
jobbing charges, and the manufacturers are
lucky If they get anything more than the
cost of production With characteristic eau
ton and sluggishness, Industrial England has
been adapting itself to new conditions. After
enjoying for generations the reputation OF be-
ing the richest nation on earth, its commercial
prestige has been challenged by competing coun-
tries with great masses Of capital and superior
resources Of organization. It is not giving up
the great modern battle for markets, but is
arming itself with the new weapons and learn
ing TO fight scientifically. There are two great
combinations of steelmakers to-day and there
may be a third before many weeks These pow
erful syndicates may unite To- the defence OF
their home market and for the development Of
their export trade. Industrial combinations
have multiplied IN England during the last
twenty years, until there is hardly great trade
without its concentration of capital and CEN
tralized control The oldtime Cobdenite does
not deny the existence Of combinations and
trusts In England, but is content with explain
ing that while Free Trade has not prevented
the formation of trusts 1t has operated
check that there not many Of them
in England in America and Germany. Ger
tainly British bankers. merchants and manu-
facturers are more conservative than American
and German f1nanciers, but it does not follow
that they lack the talent required for reorgan-
izing great Industries and making the sheer
weight of capital felt in the world. They VIII
be slower, possibly surer. about It I. n. E.