The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-06-08

ware made in the Scotch furnaces alone--and if
we estimate that one-half of this anthracite iron
! was consumed East of the Allegheny mountains, I
where almost all of the Scotch pig is consumed,
we have the proportion of Scotch to Pennsylvania
iron, to three, in spite Of protective duty
of thirty per cent. In the manufacture of certain
kinds OF finished wrought iron, where labor enters
more largely into the cost, the superiority of
Great Brltsln Is still more apparent. The pro-
duction in the United States in the same year was
5l9,O8l tons, while the amount imported was
290,275 tons, more than one-half the whole
home manufacture. There is however very
large branch of this business which can be sue
cesSully carried on in this country, and that
is the manufacture of forge and first class
foundry iron The whole of the pig iron n-
ported in 1856, was from the Scotch furnaces
This metal is not valuable from its strength, but
from Its great fudty when melted, rendering it
very desirable for the manufacture of fine casinos
and from fts capacity to carry, as it is called a
less fluid iron, and mix readily with any other
desired quality. 1t has not sufficient tenacitv to
be used for mill castings, or any machinery where
strength is required, and is an exceedingly infe-
rior metal Tor forge purposes. All the forge iron.
as well as all the best foundry iron used in the
United States is the product of American furna
ceS, the quality of which is generally decidedly
superior to that made in England. Not only Is
American forge iron better than English. but. If
quality be taken into the estimate, it can be pro-
duced mere, II not at as low rate as in England
certainly as cheaply as it can be laid down in our
markets from there. By reference to the npmber
of Edacin Sparro,Os Iron TRADE Price Current. q
standard authority, of April 18th, 1861. it will
De seen that the lowest price for pig iron for foun
dry purposes, was So per ton of 2 400 lbs. for
North Staifordshre iron. Prices ranged from
this up TO t4.5S. for hot blast, while the better
qualities of cold blast ranged at from "a up to
t6'lOs' per ton Of 2,240 lbs. Including shipping
expenses interest for time lost in transportation,
insurance. commissions and freight a calculation
OF $3.50 to the pound sterling for iron landed in
the United States is low estimate. But even ot
this rate, the cost of pig iron would range from
Sl7G5 to S25 per ton for hot blast and from 900 n
S3575 for the better qualities Of cold blast. while
the prices of American Pig, including Charcoal
Foundry of better description than the hest
English, is delivered TO consumers on the sao-
board at prices ranging from 81, TO $50. The
current rates for Forge Pig, at the same date
ranged from about 70 10 IS, equivalent at the
same calculation to from Sic to S27. 80. at which
prices equally good, if not superior, iron can lie
delivered at our own rolling mills best Baltimore
Jorge iron being now made and delivered ot =
small profit, at the latter rate on time while tho
English quotations are for nett cash.
The above we assume to be aa;o;o,,,,, ,r;oo, =,
we hnd 1t stated in the same Price Current that
III is now more true than ever that the ,panufac-
,ture OF pig iron, all over the kingdom, is a most
pfohtiess business. Whichever way one turns
1t Is the same story-the article is being sold for
less than the cost of production The only yyov
out OF the difficulty is to reduce the make, for
so long as the production is kept up beyond the
Requirements OF the trade, prices cannot recover u
Here, them lies the true secret of orr filuro in
Maryland-over production. The only way that
our iron masters can EXPECT 70 tbr;va j. b,
conhning themselves to Il production which
ooes not exceed the demand. They cannot ex-
pect the high prices that prevailed, while thew
were protected from foreign competition, and be-
fore the resources of Pennsylvania were fully de-
Veloped-prices which enabled them TO nav laroa
sums to commission merchants and to sustain old
| furnaces IN bad locations. This was q result
which was never really contemplated bv the
staunchest protec.ionst. Excellent as was tho
quality OF Baltimore iron, and great as was the
demand for it in all the Eastern mills where nails
and rolled iron were made consumers could not
afford to, and would not pay the high prices ne
cessary to sustain the manufacture On this basis
anthracite iron, as it improved in quality, was
gradually introduced more extensively. Expert
rents were made in its manipulation which re-
suited favor&bly; scrap iron was more LARGELY
used, and the demand for charcoal pig iron was
SO greatly diminished, that during the past few
years, as already stated most of the MARYLAND
furnaces have been abandoned and the production
OF iron confined to those localities where it can he
most advantageously made. This is certainly al,
that can be expected. There must ALWAYS be n
demand for a moderate production of the sune-
rlor quality of iron produced in MARYLAND at a
price at which English pig cannot compete with it,
a limited supply of first class iron is ndspensa-
| bic; and if the price be not broken down by over
production, it is less liable to experience the Auc
tuauons common to the inferior article. Tn sun
port of this, we find, in the Price Current above
referred TO, the statement, that "consumers readily
purchased all the pig iron of certain quality at
''full rates; while for the inferior article conces
''sion in price was submitted to, in order to effect
business" We must defer what further re-
| marks we have still to make in this connection
until subsequent issue.