THE IRON TRADE.

Wellington Independent, Volume XXVIII, Issue 3974, 10 December 1873, Page 3

THE IRON TRADE.

The riae in wages in England haa had the effect of cheeking the exportation of iron to America, and the closing of that market will operate in the end againet the objects the miners had in view when they struck for higher wages. The "New York World" of September 5, referring to this subject, says : — Through striken and the pressure of outside orders the average price of Bitiuh iron has run up from £8 10s to £11 10s and £12 10a per ton. We, on the other hand, have not increased the wages of the ironworkers, and can produce iron as cheaply now as three years ago. When iron cost in England £8 10s, it could not be laid down in New York and sold for less, including duties and premium on gold, than 80dol currency per ton. This price gave our home manufacturers a protection of say in average one cent; per pound, or 26.40d0l gold per ton, or fully 30dol currency. The price of American iron here was usually from 80dol to 85dol per ton. Now the case is quite different. The price being in avorage £12 per ton in Europe, it would erst to lay do-wn a ton of rolled iron in New York, duty puid, nearly lOOdol currency per ton ; and as it does not cost the home iron muster a cent more to produce iron now than three years ago (in fact, it costs him rather less) the old price can be maintained, and the foreign iron is entirely shut out of the market. But if iron were free of duty it could still be laid down and sold in New York for 76d0l ourroncy and leave a margin. Thus it will be seen that the tariff gives the ironmaster the monopoly of the market, and gives him, in addition to the price at which he competed with the English product, an average of lOdol per ton more. The ironmasters in England were lately startled by a shipment of 100 tons of iron from America, which was sold at a prico low; r than that ruling in England, but still guvv a profit.