The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-12-28

BY gaining control Of the Tennessee
Coal ana Iron Company. the steel trust
came out Of the recent financial crisis
with much added wealth OF iron and coal
lands and. for the first time, is now in
control OF more than half Of the pig
iron production OF the country. The steel
trust, mighty as it is. has never pro-
duced as much as half Of the country's
pig iron. and even less of it's iron ore
and coke. In steel and finished products
The trusts share has been larger. but in
no case does Il reach 20 per cent OF the
total production The words trust" and
monopoly are loosely used as synonym
Gus, but the steel trust practically accepts
the name trust while Il could not, if
il would. lay claim to the title Of mo
nopoly."
Even more significant than the absorp-
ton of the largest Southern iron com
pany is the fact that a general committee
has been formed 10 look after the inter
ests OF the iron and steel trade. this COM
mittee being formed Of representatives Of
the trust and OF independent producers.
During the era Of high prices which has
f'-NFeN4aNA A'A AllE past 4rh y taLss the steel
corporation did its best 70 keep prices
from jumping so high that when the
inevitable slump came Il would spell gen
eral disaster II is now the hope OF this
general committee 70 buoy I'D prices dur
ing the era Of falling values which now
appears 10 be beginning
Years ago there were many people who
believed that the price OF pig iron was
the one unfaiiing barometer by which the
financial weather could be predicted. The
steel corporation believes that the iron
and steel industry underlles all industries.
and they have joined hand with indie
pendent competitors 20 keep the fOunda-
ton from sagging Whether this general
committee viii be successful or not. il
remains for the years 1903 and 1909 20 tell
II they are successful. the steel will have
another triumph TO its credit.
The steel Of Damascus meant war. A
Damascus blade was gorgeous to wear.
was true 70 cut. but II meant he war
Of personal encounter. face 10 face and
man TO man. The steel OF Damascus
typifed the age OF individuaIism. The
steel OF Pittsburg means war. too, per
haps- bur il is a different kind Of war.
Thousands Of tons Of steel made into a
ship supporting tons and tons Of guns.
ready 10 shoot tons and tons Of steel
prOjeCtiles, are operated each by a thou
sand men, and war is more dreadful now
than il ever was. But l. does not con-
sist Of encounters face to face and man
10 man. The battles OF this age OF steel
are battles of organized forces Of many
men against organized forces Of many
men. And that organization in which the
individual is but a cog on a wheel is the
organization which has changed the world
more in one century ttian II had changed
in twenty. and the very foundation Of
that organization is laid in pigs Of iron
and billets OF steel
The United States Geological Survey Is
the highest official authority upon the
mineral resources OF this country. II has
worked long and to good purpose. Iron
and steel it knows and recognizes as the
mainsprings of our national greatness.
Its experts follow every movement IN the
iron world and are quick 90 report any
event or discovery which may. have a
bearing on the iron industries. Yet il is
10 be doubted II the government experts
have ever thought Of the fact that they
90 their daily work in Washington amid
surroundings which depict more graphic
ally than they can describe the triumph
OF the age of steel
The Survey has its Office on F street,
/ in Washington. in building under the
cOrnice Of which one may read the words
''HOoe Iron Building" Il is but little
more than thirty years old. out this
legend shows that when IL was built. a
structure Of iron was so unusual that
the builder was proud to proclaim the
nature Of the house by putting the name
OF its chief material in its title. Only
thirty years have passed since its cree
tion, and now no one would think Of put
ting up an iron building But see the
mighty structures Of steel-steel in which
the iron is made more than iron.
Steel has replaced the galleys Of Au-
gustus and the gaLeons Of Columbus
with the mighty Dre7cnought and the
powerful Lusitania; it has replaced the
( low brick and stone structures Of the
fathers with Babel-like Singer and Park
Row buildings; it has retired the crooked
I stick and cleaning knife of Boaz and
Ruth in favor of the steam pillow, the
steam reaper. and thrasher II has
wrought more changes in the life OF man
/ from the cradle 70 the grave than any
other agent, and thus mas transformed
1 the social and economical life Of the
world.
If it had not been for the civilization 81
/ the age Of steel the great corporations
which are at once the despair and hops
of the world. could not have existed
TIE United States Stcel Corporation is
/ TIE greatest industrial organization IL
/ the world. Yet II escapes a great dea
of the general and indiscriminate con
demnation OF trusts. and is rarely touched
upon in particular attacks Its 5000
stockholders the majority Of them labor
ing men. although they do not own &
majority Of the stock. are informed a:
TO every movement OF its directors. TIL,