The Birmingham age-herald., 1913-09-29
How the Competition Will be Met

Should Germany be so greatly occupied
IN the manufacture of iron and steel as to
cause the manufacturers to pass over, for
time at least the American markets.
then the American manufacturers will
have no cause for anxiety. But If indus
trial conditions in Germany should be
of the kind to cause the manufacturers
OF Germany to make good in the United
States, IL they can the depression in Ger
many, then the American manufacturers
OF iron and steel products must sit up
and consider. Men who are in high au-
thority in this business said this morning
that at first, and for a long time prob
ably, the great manufacturing corpora
tions whose product is iron and steel COM
mod1ties, will not attempt to meet the
competition by cutting of prices. There
is confidence that these great corpora
tions can hold for some time no small
part of their present markets whatever
the prices may be that are quoted by the
German manufacturers of like objects. But
the smaller companies will in all proba bill
ity be compelled to meet the cuts in or
der TO retain their markets. This will in
evitably result in more or less displace-
ment of labor The chances are that labor
will be the first to feel the effects of the
advent of the German iron and steel man.
ufacturers in the American markets. III
timatey, no doubt, there will come read
Justment whereby labor can regain the
position it occupied before displacement
occurred. When that time comes there
must be general reduction of the prices
of American iron and steel products ex-
cepting. of course, those which are pro-
tected by patents. This will mean tina
in the long run the profits of the Amer
lean manufacturers will be considerably
reduced.
This is reported by those who are in
position to form good judgments to be
the situation as it appears to the leading
iron and steel manufacturers to be. to-
day.
There will probably occur some displace-
ment of labor which is employed in certain
departments of the wooden industry, very
likely at first in the knit goods indus
try.
Some Minor Effects
There will be unquestionably some dis
turbance in certain minor or smaller lines
of American manufacturing industry wher
the present tariff bill goes into effect
One of these embarrassments will be Sc
verely felt by corporations engaged ir
the business of engraving, principally foi
bonds, stock certificates and other securi
ties. Information from Washington re.
ceived here today has caused some anx
| iety among those engaged i'm business O
liliS klnu, Inc senate at the last mo
ment is reported to have put upon tn,
free list steel engraved forms. stock Ger
tificates, negotiable receipts, notes and
| other securities; engraved steel plates
dies and rolls, suitable for ues In en-
craving or printing bonds, stock certifi-
Gates or other securities
The apparent effect and presumably the
purpose of this amendment was to de-
velop the importation of articles of this
kind from Canada. 1t will raise a rather
serious question for some of the great
engraving companies In view of the
fact that much cheaper forms of engrav-
ing and printing are dutiable under the
paper schedule it is not easy to see why
these items were put upon the free list,
They will undoubtedly be found enacted
into the law. What the economic effect
of the placing of these articles on the
free list may be remains to be determined,
but there is some apprehension that the
clause will tend to break down the bar
riers which have been erected in the
United States in order to protect sound
and safe methods of issuing securities.
For Weakness and Loss OF Appetite