New-York tribune., 1905-04-26
IRON AND STEEL ExpoPTs

Inc nscal year ending June 80 will probably
snow a record breaking sale abroad of AmerI-
can iron and steel products. Exports for the
eight months ended February 2S have reached
total value Of $50, 100000, according to ra
turns compiled by the Bureau of Statistics of
the Department of Commerce and Labor This
Is gain Of $1S,OO0000 compared with the
same period in l9O3-O4. and a gain of $23, ,OOO-
600 compared with the same period in 1902 -'O3
In l9Ol-02-a boom" year in the iron and
steel trade-Our sales abroad for the eight
months ended with February were So. 30
6So-almost equalling this years total But the
present squirt in exports promises to carry our
shipments to a higher level than that reached
four years ago. and to mark a fresh step for
ward in our successful struggle for primacy in
the iron and steel industry
Twenty years ago prediction that the United
States would soon be exporting more iron and
steel products than it imported would have been
laughed at 6y the CObdenite economists who
were trying TO reduce or abolish all tariff du
ties. According to the logic of these econo-
mists, Great Brltain's supremacy as a MANN
facturer Of iron and steel was too firmly es
tablished ever TO be OverthrOwn or even CON
tested. The American consumer they argued
should refuse to be taxed to promote a home
industry which could never seriously compete
with Great Brtain's. either here or in the for
eign market Our true policy. il was proclaimed
was to purchase iron and steel manufacturers
tariff free and to let the American manufacturer
turn his capital and energy into some more
hopeful field of industry. In 1881 50 at the
beginning of Mr.. Cleveland's first term and
in the first flush of the Carlisle -AIorrison-NIills
crusade against protection, we sent abroad for
the eight month period ending February os
iron and steel manufactures valued at S11 541 =
800. At the same time we were importing
manufactures Of the same character worth S23-
OOI,61l. BY lSS9-90 our exports had increased
in value to S16,735OO0. But our imports had
also increased-to $26,96G,OOO.
The stimulus given to the industry here by
the Mckinley law had begun to show its ef-
fects by 1S9495, when exports actually exceed
ed imports, the former standing at 500 $50 OOO
and the latter at $15.2SSOOO Under the VII
son-GOrman law little additional progress was
made toward getting foothold in the foreign
market. But since the passage Of the DinEIev
law the export movement has gained aston
ishing headway In 1S97'9S our imDorts of
steel and iron manufactures for the first eight
months Of the fiscal year fell in value TO SIS
29IOOO, while our exports rose to $40 ,SG4 900
In 1904-'0J. for the same period, we have i'm
ported iron and steel products worth S14343-
600. and have sent abroad products worth $50
o46op. Twenty years ago we bought twice
as much we sold Now we are selling six
times rs muchas we buy. The balance of trade
in iron and steel in 1884 50 showed a total of
Sl2.000OO0 against MS. The balance to-day is
for the eight month period taken IN all these
comparisons S71 100000 in our favor
With constantly expanding export trade in
steel and from manufactures, and with steady
growth In sales of other manufactured products
We can look forward confidently to the day
when the bulk Of our sales abroad will be In
manufactured articles. About 90 per cent Of