Cameron County press. [volume] (Emporium, Cameron County, Pa.) 1866-1922, 1906-12-06
RAILS FOR PANAMA
WILL BE SUPPLIED BY AMERICAN
LABOR AND INDUSTRY.
No Extortion Was Attempted by the
Domestic Bidders, Their Prices Be-
ing Materially Lower Than Those
Named by European Competitors.

Named by European Competitors.
IL certain supposedly protection
newspapers would pay more attention
to facts of trade and business that are
right under their noses and attach less
Importance to the reckless assertions
of Democratic free trade speech max
ers their zeal for trust busting and
tariff revision would be modified.
Pretty much all the Republican news
paper rage for tariff disturbance
springs from ignorance of facts and
conditions. A notable proof of this is
found in two Philadelphia journals of
recent date. The Press broke out
in indignation on the bids for supply
ing steel rails for Panama canal con-
struction, asserting that the steel
trust had undertaken to rob the gov
ernment by exacting $29.15 per ton at
tidewater, while exporting rails to
other countries at $22 per ton. Here
was a case, said the Press, for Presi-
dent Roosevelt's action; here a chance
to strike a blow at the trusts by pur-
chasing the steel rails in Europe. The
Telegraph echoed the proposition.
Now comes the Bulletin of the Am
erican Iron and Steel Association"
tors of the Press and Telegraph look
very foolish. The simple truth of the
matter is that for several years the
American price of steel rails has been
$23 per ton nc the mil, leaving $l.l5
per ton az the additional charge fer
delivery at tideTater. Not very e-i-
tortionate charge, one would think.
Furthermore, as appeared in an an
nouncement from Washington on the
25th of September, the contract was
awarded to the American bidder at
$29 per ton, and all the bids of for
eign rail makers were in excess of
the accepted American bid. This dis
crepancy between the domestic and
foreign bids is easily accounted for
by the fact that the present price of
steel rails at the works in England is
$31.02 per ton, or $500 in excess of
the trust extortion" price in the
United States. Allowing also for the
longer haul and greater cost of trans
portation from Europe to Panama, it
appears that the government saved a
considerable sum of money in buying
the 5000 tons of Panama rails from
American mills at 500 per ton.
Much is being said from day to day
by free trade campaigners regarding
trust extortion. Some Republican
no, Noi Iilyn Tnn pIir.
ton, of Ohio and notably the newspa-
per writer's fell into the same vein.
Gov Cummins, of Iowa, is absolutely
certain that the duties ION iron and
steel ought to be reduced or alto
gether removed. These devoted re
formers" make many reckless asser-
tions regarding the export of steel
products at cut prices. They allege
that American steel rails can be pro-
duced at profit for $12 ton and
cite an alleged statement of Charles
w. Schwab some years ago in proof,
although at that time the price of
Bessemer pig iron was $19 per ton,
and it takes more than a ton of pig
to make a ton of rails. They accuse
the steel trust of selling rails to for
eigners at $22 a ton. while charging
S2S at home. Something of the kind
may have been done in years past
when temporary over-production ne
cessitated such a recourse. But that
time has passed. To-day the steel
making concerns, trust and non-trust
alike, are behind in their orders for
domestic consumption, and, as we
learn from the New York Times of
October II, premiums of two and
three dollars are asked for deliveries
this year, and some premiums have
been. obtained for 1907 deliveries"
We hold no brief for the United
States Steel Corporation; far from it.
What we would like to make plain is
the fact that rampant tariff revision
takers and writer's are making mac
curate statements both as to the con-
spiracy to extort by prices for steel
rails for the Panama canal and as to
the systematic sale of steel products
at lower prices than those which
American consumers are required to
pay. Much of the furore for tariff
disturbance originates in either mis-
conception or misstatement of actual
facts and conditions.
Helpful Trade Balances.
The slump in foreign trade, which