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The Cost Of Iron

The Cost Of Iron image
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In answor to au article of ours showing that we have had eleven tariffs since 1860 and that tho duty on some articles has been raued four severa] times, nud incidentallv alluding to the Trümne's practico of advising freo-traders to niako pig-iron or else stop talking about the jironts of those who do inake it, that jouvnal says : "Tho Tribune does not, and nevor did, enïbark in the produetion of pig iron, of steel r:iils, of blankets, of carpets or other protected artieles - any one orallof thcm. It does not bolicve it probable that they coulddosowithprofit. And why ? Simply bccause the TrWnne belicjves that these artioles arenow usually sold here at a very small advanco on the cost of produeing them - that this cost substantially rcfrulates their prioes, no matter whether the dut y on their iniportcd rivals be 20, 50, 100, or 500 per cent." lf tliia means anything it means that, whether the duty on iron vrore 20 per cent. or 500 per cent., the virtuous ironmasters -n-or.ld charge the same rate ibr their wares, and always give is iron as cheap as they could make it. If that were so, and a duty of 20 per cont. is as effeetive as one of 500, why not give us the lowcr duty and end the bother ? But is it? The pricft thiH mouth in Liverpool for a ton of tin1 lot Stjitfordshirt iron, delivered on horra fice of dnty, w X8 lds. (kl . Fivteht to New York 12s, 6d. Other chargea except duty yg. 6d. Total JK9 12a.0d. In gold dollars ♦■ffi.4.; Or in cunency 51.56 - which a ton of iron would cost in New York werc there no duty on it. According to the Iron A ye of April 20 a ton of American refined bar iion, cortainly no botter than tho above, is worth $77 - $25.44 moro in currency than tho English iron could be sold tur. The duty on a ton of bar iron of the usual sizes is t'4.88, currency. It secras that the iron-masters do take thcir full pound of flesh, and a sha ving more. Another example : The best Scotch pigiron costs in Glasgow L3 3s. a ton. The freight and charges other than duty would bring it in New York to L4 12s. 6d., or in our currency $'24.85. The best American pig-iron, -whicli is no botter than the Scotch, -vi-as quoted lastmouth at $35, and sold at an average of $34. The duty on a ton of pig'iron is $7.77, currency, and tho prioe the American iron-musters charge over the price of a ton of free Scotch iron is 9.lA. In any case they have, of cöurso, the advantage of the $7, gold, a ton for frieght and charges which tho imported articlo would havo to pny if it were free of dúty. Now, doos the cost of production " substantially regúlate " the price, or has the tariff soniethinsr to do with it ? We don't


Old News
Michigan Argus