Practical Economics a Span Classsearchtermspan Classsearchtermcollect
Practical Economics a Span Classsearchtermspan Classsearchtermcollect
David Ames Wells
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is it justice ?" The curious state of things brought to light by the petition presented to Congress at its last session by the Harrison Wire Company of St. Louis ought also not to be passed unnoticed in this exposition of newly developing tariff antagonisms. In this petition it was represented that the company named was engaged in the State of Missouri in the manufacture of wire for fencing purposes ; that their business was rapidly increasing in volume, creating new and extensive opportunities... for the em- ployment of labor; and that their present production of wire was nearly one hundred tons per day. It was further repre- sented that the wire thus produced is manufactured from soft steel, known to the trade as the Bessemer product ; but that, owing to the high price charged for this latter in this country, the company had hitherto been compelled to purchase their supplies in Europe; that recently it had been discovered that ores out of which such steel could be easily and profitably pro- duced by the so-called " basic process" existed in large quanti- ties in Missouri, Alabama, and Tennessee ; and that to take advantage of such discovery the aid of foreign capital had been sought and obtained.
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