124 H. J. SKELTON 



alent view in regard to Belgian competition was, and is, that 

 its success depends upon a standard of living and of comfort 

 amongst Belgian workers inferior to that of the British work- 

 man, and the results are products inferior in quality and work- 

 manship to average British ideas. 



As regards German competition, aUhough there were, 

 and are, features in it undesirable of emulation, yet German 

 workers were apparently better cared for than Belgian, and 

 the enterprise of her manufacturers showed courage and 

 perseverance, entitling German competition to respect. En- 

 quiry has shown that on the whole German pig iron and the 

 heavier iron and steel manufactures are not produced at lower 

 costs than British. But when goods are sold below cost of 

 manufacture for export, and the makers are compensated by 

 high prices in a protected home market, which enable a re- 

 coupment of losses incurred in export trade, then a certain 

 feehng of resentment is incurred. The average man settles 

 the point in a common sense way by stating in effect, "li other 

 people like to tax themselves in order to supply sugar, or iron, 

 l3elow the cost of production, more fools they. This process 

 cannot go on forever, and in the meantime it is good business 

 for the buyers or consumers anyway." 



In order to estimate the effects of American competition 

 it will be well to examine experience with other and preceding 

 competition. 



During the past twenty years the Belgian manufacturers 

 of wrought iron have succeeded in taking from England a con- 

 siderable share of the export merchant trade in wrought iron 

 destined for markets over sea, where the question of price is 

 of more importance than the quality of the article produced. 

 Ever\-one engaged in handlmg Belgian iron would be able to 

 testify from experience that the manufacturei^ thereof had, 

 over a period of years, left themselves too small a margin of 

 profit for possible contingencies to be able permanently to 

 satisfy buyers who expected anything Uke precision of weights 

 and sizes, or regularity of quality in their supplies. In past 

 years it has frequently happened that the price quoted for 

 Belgian iron has been five dollars per ton lower than the 

 cost of any other iron obtainable on earth. It is clear that 



