Show EFFECT OF THE STEEL COMBINE The New York Financial News reviews re-views the great Iron and steel combine com-bine The News asserts that the United States can hold Its own against any nation or combination that can be formed against It and by force of superior su-perior natural advantages greater mechanical me-chanical and Inventive oklll come out ahead Hence It says I seems to us there Is no delimitation to the industries Indus-tries and Interests that this aggressive combination Is likely to reach At the same time It adds that this great steel combination Is n challenge to the rest of the world and in the light of challenge chal-lenge and menace that the maufactur Ing nations of Europe will and must accept it as such and turn every available avail-able weapon at their command against the United States I thinks In such n contest the warfare will not be directed di-rected alone against the Iron and steel t Industries of this country but against every Interest likely to be adversely affected I af-fected From all of which the News 1 believes there will be heavier tariffs In the Old World says Germany is already al-ready building up a wall of protection that England Is In the throes of commercial com-mercial depression brought about by the competition of the United States and has no other outlook for the future fu-ture under existing circumstances than a growing surrender of her exports to I the higher grades lower prices and I more prompt delivery of American manufactures It believes this country I will eventually triumph but at this particular par-ticular Juncture It thinks the great steel combine a misfortune to this country The combination has come naturally with the unparalleled amount of money that has been drawn to this country by the course of trade during I I I the past four years and there will be I no reaction until the trade falls off In I the old days our country bought as much as It sold and the only Increase was what came from the mines Now the outside world seems helpless because be-cause our artisans are doing better and awlfter I work than theirs and in the great matter of food and textiles the United States Is the only dependence and that makes a hopeless handicap on the out lde world |