Jeffersonian Republican. [volume] (Stroudsburg, Pa.) 1840-1853, 1853-04-14
The Advance in the Price Of Iron.

The Advance i'm the Price Of Iron.
The sudden and great advance which
has recently taken place in the price of
railroad iron, is a circumstance of unusual
Importance toyariousinterests of this coun-
try. In less than year the price of rail-
road iron in Great Britain-which is the
principle seat of its manufacturing and
its controlling market--has advanced
from G5 or S25 to el0 or $50 per tom
There is every reason to believe that it
will continue to rise and not stop short
of G12 or ETA per ton. Six years ago
iron went up in much the same way, ri
sing in very brief period from 95 to
Gl2 per ton. This advance then was
produced as it is now, by the projecting
and constructing of great number of
railroads, with the essential difference
that the mania at that period was confined
chiefly to England, whereas now it is diff
fused over many countries, raging most
furiously in our own, and embracing
much vaster aggregate of projects.-The
railroads in progress which produced the
great advance in iron in 1647, did not
exceed three thousand miles in aggregate
length, though much larger amount was
projected and afterwards partially aban-
doned. The investment of capital in
these British railroads caused the most
disastrous commercial revulsiye experience
in Great Britain. It ruined many hun
dreds of the richest merchants, and pro-
duced long continued prostration of ev-
cry industrial interest from which it re-
quired years of patient labor and econo-
my to recover.
From the best information accessible
to the public 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 iron railroads, besides vast a
mount of projected railroads not yet be-
gun, which We do not take into account.
Of this amount of railroad in progress,
5000 belong to Europe, and $4,000 at
least to this country, exclusive of more
than 1000 now constructing in Canada.
We have seen list made out of the rail-
roads now under way in each State, which
amount in the aggregate to more than
$4,000 miles, and which list has under
stated rather than overstated the truth,
for in this State alone it omits 80 miles
of railroad in actual construction, and has
made similar omissions as to other States.
However incredible the aggregate may
appear at first sight, it is impossible for
the most careful scrutiny to make any de-
duction from it.
Railroads require at least one hundred
tons of iron for single track, and ofthe
roads in progress in Europe 1000 will
be double track roads. 1t follows from
this that the railroad now in the course of
construction in Europe and America, will
require for their completion no less than two
millions and four hundred thousand tons
of iron. To make this quality will re-
quire all the rolling mills in the world,
which are engaged in the manufacture of
railroad iron at least sixty years-those
of Great Britain furnishing three -fourths,
and the United States, France and Bel
gium the remaining fourth. The best au-
thorities do not estimate the largest guam
tity of railroad iron in any one year even
, as high as 400, 900 tons, yet even 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 price for
a long time. This will make the manu-
featuring business that can be underta-
ken in this country for some years. for it
is affirmed on the best authority, that the
article which is now selling at $40, with
every prospect of advancing to at least
$50 per ton, pays fair profit to the ma
ker at $50 per ton.
The advance in iron will nearly double
the COST of many of the railways at the
west and south, for the cost of grading
upon some of them was less per mile than
the cost of the iron, even before it advan-
ced. The profit to few of the compa-
MES which have secured their iron at low
prices will be very large. The English
railroad companies are now compelled to
pay SO per ton more for their iron at
home, than the price at which our rail-
road companies were enabled to obtain it
about year ago, freight and duties in,
cluded.-Raahoad Times.
B9 A meteor exploded in New Lon
Il s.