The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1906-12-01
GETS ANOTHER GRIP
STEEL TRUST HAS TiGHTENED
ITS HOLD ON THE PEOPLE.
Through Recent Purchase IL Controls
Ninety Per Cent. of the Known IRON
in the United States-low Tariff
Would Benefit.

The Steel trust has contracted for
vast deposits of iron ore owned by the
Great Northern railroad, and now COZ
trolls 60 per cent. of all the known
iron in the United States, or 1,500, 000,-
900 tons. The pools and selling price
arrangements between the trust and
other steel producers make a virtual
m%onopOlg. The price of steel has
been constantly advancing and is now
at the point where foreign producers
of steel can export to this country, If
they are willing to sell at a small
profit and ocean freight rates are
reasonable. These foreign competi-
tors of the Steel trust have not only
to pay the ocean freight but the
charges for shipping and loading the
steel abroad and unloading and deliv-
ering 1t on this side of the water.
But in addition to all these charges
there is the tariff duty to pay, and
this in 1905 amounted to an average
| Of $500 per cent. of the value OF the
shipments in the country where pro-
duced. The government statistics re-
port the value of the iron and steel
imported for the year ending June
80, 1905, as $22, 044, 937.34 and the tar
if duty paid as $S.422,237.73. The tar
if duty on many steel products ex-
ceeded so per cent. and on cutlery it
exceeded so per cent, and on wood
screws over one inch and not more
than two inches in length the tariff
duty exceeded SO per cent.
The total iron and steel manufac-
lures Of the United States for 1904
were about 10000. 900 tons and the to-
tai iron ore in sight in the United
States is estimated at $500. 900, 900
tons, ard as this ore will produce but
little over half It's weight in iron or
steel, it will be seen that at the pres
ent rate of consumption all the ore
now in sight will be used up in less
than so years.
What folly 1t Is therefore, to place
an enormous tariff tax upon the i'm
port of a necessity that other coun.
tries are willing to sell, which will be
Of inestimable value in a few years.
A tariff of five of ten per cent. on i'm
ports of iron and steel would reduce
the present price to I'll people of all
steel products and at the same time
conserve the home supply for future
generations that will otherwise have
to do without it or use a now I'M
known substitute. Free iron ore and
a low tariff on iron and steel would
not stop production in this country,
but would compel the monopolistic
Steel trust to sell cheaper, or the for
eign product would be imported and
undersell that corporation.
The result of a low tariff on crude
iron and steel would naturally reduce
the present production in this coun-
try, but would not stop the manufac-
ture of these finished products, like
machinery, tools and cutlery, upon
which the tariff could be reduced to a
reasonable rate of say five per cent.
of the present rates to begin with and
further reduction as the business was
prepared for it, and the American peO-
pie would be benefited.
When it is remembered that every
n is made to pay his share Of the
increased price of iron and steel,
which is used in the manufacture of
so many articles Of necessity. from a
tin pan to transportation by land or
sea, it is of the greatest importance
that no artificial obstacle like the tar
iff should be imposed to increase the
price.