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The Tariff On Steel Rails--spicy Letter

The Tariff On Steel Rails--spicy Letter image
Parent Issue
Day
15
Month
April
Year
1870
Copyright
Public Domain
OCR Text

PmLADELriiiA, March 18, 1870. 7. Vanderbüt, Ksq., President Neio York C'en trui and Iludson Kiver lUUlroad: DeakSir: I endose a copy of a potition which has already been signed by tbe offieers of railroads that have Iaid more than threc-fifths of all the steel rails on whieh the Knüroad Oonimissioners ot Massachusetts wcre ablo lo obtain returns, as published in tlieir report of Fcbruary 12, 1870. According to careful estiniüti b from otbor available eource the same conipanies are consumera of a majority of all the steel rails that havo boca Iaid and are iinporied iiito tha United Sttte. I trust that you will appreciato tho ndvantago of sustaining the homo oompetition, as the only defeusu upon which depeiidenco can bo placed to sacure our railroad coxnpanies agnicst the oxtortiona of foreigo uianul'aeturcrs. I carnestly hope that you will sign tho enclosed petiljoD aed return it to me at your earüest convenience in order that it may be forwared to Washington at the preper time. Yours truly, .S. .U. Fkttch, No. 123 South FJfth St , Phlladclpbia. Xkw Yoi'.k (,'i:.nthai. lV IIldson RWer") II. Co., PBEBUNEIT'a OfFICB, 470 Wbst Thiktikth Btkbbt, bktweed :i & Tenth Avi:nui:s New 1 Yokk, March 24, 1870. ■ J 8. M. Felton, Btq., PM Pa. Dear Sip. : I am in receipt of voor letter, euclosing a copy of a petition to Congres9 asking that iustcid of tbo present ad valorem duty on steel rails a speciñe duty of twn cents por pound be levicd, and requ esting our cfficial signaturo thereto. I can readily conceive tho benefiis which would accrue to American stetil-makers in the event of an increase cf duty ns petitioned for, but in what iiianner the railroads of tho country are to be enriched I must cocfess I am at a loss to discover. Thirry-threa out of the Cö of the signalurcs to the petition ara well-knowu represontatives of leading railroads, a uajority of them being loeated in or running through Pennsylvania ; and, wcro they giv'on unofficially, I would conclude their principal interest was centered n the steel works, and not in tho r:ih0ad3 whioh thoy represent. You urg8 the advsntage of sustaining tho home cornpetitioa ns tho only dcfeuse upon which dependenco can be placed to secure onr railroad conipanies against the estortions of füreign inanufacturers. We are doeidedly ia favor of sustuiuing couipetition ; not hon;e competition aloue, but botli homo aud farcign, aud do not proposo to advocate any measure whioh will prevent it or place us ii) tho hands of homo extortionist?, who wou'd udoubt ediy bo inexorable in their demauds as foreign mnufüciurers would be were tho Bame proteotion given them. A monopoly in the production of steel rails, the value and importance of which to railroads bas been thoroughly denionstratcd, would often compel us to takO an inferior article at any price tbc 11101 nnpolists might choose to put upon, it. We would net have youbelieve that wo aro adverse to patronizing our own uianufaeturers. We only desiro to ba lowed to purchase from hom we eau get the best artielo :t tho lowest price, and in my jadgment these important considerations eau only ba attained by keeping up a vigorous eompetition. Aa an argument of t'r.o ju3tioa of tho petitioD, it is elniined that the signers thcreto represent railroads that have laid more tlun thrcc-Sfths of all the steel rails used in this country. In order to correct any wrong impressions that might ob'ain on this point by reason of tho position we take, we desire to f óa d 's1" re pre è'n tè tl of "u's "f' n o" ïi è w fo r E Central, lludeon River, and Now York and Harlem) fully one-fifth of all the steel rails laid down, aud one-third of the steel rnüs imported to this country. Wo were among the first in this country to adopt steel instead of iron rails, and intend continuing o to do as rapidlj as tha earnings and pi ioe wil! warrant. With respect. I am yours truly, CORNELIUS VAKDEUB1LT, Pres.

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Subjects
Old News
Michigan Argus