Iowa capitol reporter. [volume] (Iowa City, Iowa) 1841-1855, 1853-05-04
IOWA CITY, WEDNESDAY. MAY A, 1853.
Railway Iron.

Railroad Times will be read with attention by
all those engaged in the construction of new
lines Of railway who have yet to purchase their
rails. If it be true. as stated, that it will f,l-
ly occupy all the rolling mills in the world
which are engaged in making rails at least sir
years to supply the iron for the roads already
begun some Of those projected must wait a
long time for iron to complete their lines, and
the hediilicuity is not to be overcome by an in
crease in the price of iron
The sudden and great advance which has
recently taken place in the price of railway
iron, is u circumsI ance of unusual Importance
to yarious interests Of this country. In less
than year the price of railway iron in Great
Britain-which IS the principal seat Of l. . man.
ufaeture. and controlling, market--has ad ;
vahSed E5. 81 Srs,e go 10, or $50. per ton =.
There is every reason TO believe that it will
continue to rise, and not stop short at El2 or
or Ella per tom Six years ago iron went up
much in the same way, rising in very brief
period from G5 to - per ton. This advance
then was produced as it is now, by the
projecting and constructing Of great number
Of railways, with the essential difference tha
the mania at this period was confined chiefly
to England, whereas now it is ditfused over
many countries, raging mos, furiously in our
own, and embracing much vaster aggregate
of projects The railways in progress which
produced the great advance in iron in ls47
did not exceed three thousand miles in aggrc.
gate length. though much larger amount was
projected. and afterwards partially abandon
ed The investment of capital in these British
railways caused the most disastrous CONNER
cial rcvulsion experienced in Great Britain
ltruined many hundreds of her richest mer.
chants, and produced long continued pros
tration of every industrial interest, from which
1t required years Of patient labor aud economy
to recover
From the best information accessible to the
public, it appears to be quite certain that
there are now in progress and in actual course
OF construction, in Europe and America at least
twenty thousand miles Of iros railroad b..
sides vast amount of projected railroad rot
yet begun, which We do not take INTO account
VI TINS amount of railroad in progress, 5 900
belongs to E-rope, and $4,000 at least to this
Country, exclusive of more than 900 mi es
now constructing in Canada. We have seen
a list made out Of the railroads now under way
IN each State. which amounts in the aggregate
to more than $4,000 miles; and which list has
understa,cd rather than over.,atcd the truth.
tor IN this state alone it omits 60 mites of rail.
road in actual construction and has made sim.
liar omissions as in other states However
'hcred'O the aggregate may appear at first
sight,lt Is impossible for the most careful scru.
tiny to make any deduction from it.
Railways require at least Que hundred tons
OF iron for single track. and of The roads in
progress in Europe 1000 will be made double
track road. 1t follows from this that the rail.
ways now in the course Of con siruction in Eu.
rope and America will require for their com
pletinn no less than two millions and four
hundred Thousand tons Of iron. at least six
yearo-those of Great Britain furnishing three
fourrhs, and the United States. France and
Belgium the remaining fourth The best au
thorit ties do not estimate the la gest quantity
OF rail way iron in any one year even as high
Us lO0, 900 tons, yet even at this rate it will
take six years TO furnish iron for the roads al
ready begun.
The necessary CONSCIENCE of this state of
things is that the price Of raj road IRON will not
ony be kept up. but further advance and be
maintained al very high prices for long time,
This vii! make the manufacture of railroad
iron the best manufacturing business that
can be undertaken in this Country for
some years; for it is affirmed on the best
authority lhat the article which is now SELF
ing at so, with every prospect Of advancing
at east to $50 per ton pays lairproft to the
maker at $40 lcr ton.
Tho advance in iron will nearly double the
cost of many OF the railways at the west and
south, for the cost of grading upon SONG of
them was les, per mie than the cost Of the
iron, even before it advanced The profit TO
a few OF the Companies which have securrd
their iron at low rates will BE- very large The
English railroad companies are now com.
PEELED to pay $40 per ton more for tfeir iron
at home than the price at VIII ch our railroad
c mpanies were enabled to obtain it about a
year ago, frslght and duties included