The Washington herald., 1918-02-15
FOREIGN STEEL
WILL COMPETE
Holland Reviews Prospect
for Trade After Peace
Is Signed.

In a recent issue Of the Wall Street
Journal IL contained a quotation from
a business man who Ii OF excellent
Judgment and authority, in which the
assertion Il made that those who are
reckoning upon an enormous sale OF
steel and iron products to Great Bri-
tain and to other European countries
after the war Is ended are in error IN
that view.
For II Is asserted that Great Britain,
Canada and Germany have greatly
enlarged. notwithstanding the war.
their steel-producing capacity, and
have In addition learned economy and
efficiency. Furthermore, the Wall
Street Journal says that the prevail
ing opinion that after the war Is
ended We shall be found leading the
world in our exports Of steel and iron
products Is not taken seriously by
steel men who have watched the de-
velopment of the steel industry since
the beginning Of the war.
One Of the reasons given by the au-
thority which the newspaper quotes
for his belief that European countries
viii not buy heavily Of steel and iron
from the United States after the war
10 to be found in the fact that these
countries will be debtor nations. pos
sibly by as much as 100000. oo0. .ooO
after the war is ended. and they GER
tainly will owe the United States
many biIlions-in fact, do now. There
fore, they will not be disposed to in
crease their Indebtedness by making
heavy purchases OF steel and iron in
the United States.
Drive Against U. 8.
Instead Of that. the manufacturers
viii strain themselves to the utmost
to command the greater part of the
steel and iron trade of the world.
For in that way they will be able
to secure some part Of the funds in
which they may meet their obliga-
tions.
They will make a great drive
against the United States; they will
attempt successfully to compete in
our own markets with American iron
and steel manufacturers. They will
reply to some extent for success upon
the high cost Of production of steel
and iron in the United States. due
chiefly to the wages and salaries
which are paid to the artisans.
Undoubtedly the view set forth by
NsAS aAlAOElly Is lnc one taken DY
the leaders OF the steel and iron in
dustry and yet with a mental reserya-
ton. These leaders believe that we
can hold and increase our world
trade In steel and iron products. not
withstanding the high cost of labor.
II there be satisfactory legislation,
part Of 1t so enacted as to prevent
the dumping into the United States
OF steel and iron products and part
OF II so enacted as to enable US with
facility and at reasonably low cos,
to approach the markets Of the world.
Preparing for Peace.
On the Office wall of one of the high
executive officers of the United States
steel Corporation is conspicuously
placed a legend in these words: In
time OF war, We should prepare for
peace" Undoubtedly the managers
OF the Steel corporation, and in fact
the managers Of all the independent
steel and iron industries OF the United
states. are now, as far as possible,
preparing for conditions which will
arise Immediately after the war is
ended. They hope to secure the pas
sage Of an act which will enable steel
and iron manufacturers, who are ex-
combination so far as foreign markets
are concerned
Action OF that kind was one of the
reasons why Germany was able to Sc
cure rapidly a considerable share of
the worlds trade in iron and steel
products Then again, these Industrial
leaders hope that after the war Is
ended they will have available a large
amount Of ships. Lack Of shipping
facilities was enc of the reasons why
the iron and steel makers Of the
United States were not able always
to compete with the German and
English manufacturers Of iron and
steel.
Then again It Is the hope that leg
islation will be enacted which will
modify the existing antitrust laws
For il. for instance, the United States
Steel Corporation should be dissolved
through the Judgment of the Suprme
Court upon the action now pending.
then 1t Is inevitable that the United
States will loose a large part Of her
exports Of iron and steel products.
Our Future Markets.
J Apparently the managers of the
: iron and steel, industries do not now
I contemplate entering the markets Of
Great Britain or of Germany with
their products after the war. They
do believe that Francs and Belgium,
IL Belgium Is quickened, Will be-
come heavy purchasers of American
iron and steel products, provided con-
ditions are favorable as well as legis-
lation- They look for great markets
in South America and in the Far
East and II they are not handi-
capped by unfavorable conditions or
by stringent legislation they believe
that they win be able to meet what
ever competition Great Britain or
Germany, should Germany try to
compete, may offer in the South
American and Far Eastern markets.
They are not concerned about the
high cost OF labor. for they believe
this Is offset by the greater produc-
tive capacity Of highly-paid labor, by
the utilization Of the best labor-saying
machinery, by the employment OF
highly competent men OF science and
also by our favorable situation with
respect to coal and iron deposits.
This Is the contingency which the
Industrial leaders. whose achieve
mepts since the war began in iron
and steel commodities have been
marvellous. hold in reserve while
: hey are disposed to admit that
treat Britain and the European ma
lions will not only refrain from
5urchasing American iron and steel,
out, will also attempt to dump enor-
nous amounts Of these commodities
nto the United States. The British
manufacturers NAV be able To do