Semi-weekly North-Carolina standard. [volume] (Raleigh, N.C.) 1852-1853, 1853-04-20
From the Railroad Times.
THE ADVANCE IN THE PRICE OF IRON.

The sudden and great advance which has recently
taken place in the price ofraroad iron, crcum-
stance OF unusual importance TO various interests OF
this country. less than year the price OF rail-
road iron in Great Brtain--which is the principal
seat of its manufacture and its. controlling market
has adv anced from g5 $25 10 gl0 or $50 per tom
There is every reason to believe that Twill continue
rise, and not stop short of Rl2 or ETA per ton.
Six years ago iron went up in much the same way,
rising very brief period from It's 10 Rl2 per ton.
This advance then produced as 1t is now, by the
projecting and constructing OF great nHmber OF rail-
roads, with the essential difference that the mania al
that period was confined chiefly to England, where
as now it is diffused over many countries, raging
most furiously in our own, and embracing much
vaster aggregate of projects The railroads In pro-
gress which produced the great advance in iron In
I847, did exceed 5000 miles in aggregate length
though much larger amount was projected, and al
forwards partially abandoned. The investment OF
capital IN these British railroads caused the most as
astrous commercial revuIsion ever experienced In
Great Britain 1t ruined many hundreds OF her rich
est merchants, and produced long continued pros
traton Of every industrial interest, from which Ii re-
quied years of patient labor and economy to recover
From the best information accessible TO The Puohc'
it appears be quite certain that there are now In
progress, and actual course of construction, In Eli.
rope and America, at least twenty thousand miles OF
iron railroad, besides vast amount OF projected rail-
| roads not yet begun, which do not take into ac-
count. OF this amount of railroad in progress, 81
coo belongs TO Europe, and $4,000 at least TO this
country, exclusive of more than 1000 miles now con-
OF the railroads under way in each State, which
amounts in the aggregate 10 more than $4,000 miles,
and which list has understaed rather than oVerstaleo
the TRUTH for in this State alone 1t omlts 60 miles OF
railroad in actual construction, and has made similar
omissions TO other States. However Incredible
the aggregate may appear at first sight, 1t is lmpos-
sible for the careful scrutiny to make any de-
duciion from it.
Railroads require at least one hundred miles OF
iron for single track, and of the roads in progress
in Europe 1000 will be double track roads. 1t fol-
lows from this that the railroads in progress OF
construction in Europe and America will require tor
their completion less than two millions and four
hundred thousand tons of iron. TIC make this guam
tty will occupy all the rolling mills in the world
which engaged in the manufacture of railroad
iron, at least six years-those OF Great Britain fuTn
ishng hree-fourths, and the United States, France
and Belgium the remaining fourth. The best author
tiles do estimate the largest quantity of railroad
iron in any year even as high as 100000 tons
yet at this rate it will take six years TO furnish
iron for the roads already begun.
The necessary consequence of this state of things
is that the price of railroad iron will not only keep
up, but further advance, and be maintained at very
high prices for very long time. This will make
the manufacture Of railroad iron the best manufacture
ing business that be undertaken In this country
for years, for it is affirmed the best authori
ty, that the article which is now selling at $TO with
every prospect of advancing at least 10 $50 per ton,
pays fair profit to the maker of $50 per ton.
The advance iron will nearly double the cost Of
many of the railways the and south, for the
cost of grading upon some of them was less permile
than the cost Of the ron even before it advanced.
The profit 10 few OF the companies which have
secured their iron at low prices will be very large
The English railroad companies are now compelled
10 pay $40 per ton for their iron home, than
bed to obtain it about year ago, freight and duties
included