The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1864-02-10
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Our fossils are making the nation rich
It is surprising how suddenly a new dis
coverY is made to take rank as an i'm
| portant staple. No other country in the
world has been so ripe for such extra
ordinary transitions. The Romans knew
that England abounded in tin, but cen
turtles elapsed before it rose 70 the dig
nifty of q commercial staple, and il was
exactly so with her iron. North Ameri-
CO seems to be in all respects an excep-
tional region. Coal and iron rose here,
within q single lifetime, into national
importance. The gold of California be-
came = gigantic staple within a twelve
month. The last of these extraordinary
eccentricities is petroleum. Four years
have been sufficient TO elevate il from the
worthless condition of a floating pellicle
on the surface Of al obscure creek to the
rank of > prime staple, of which the
world cannot get enough. There is
nothing in the history Of industrial
development TO equal the progress il has
made. When the country first heard
that an advenSurer in Western Pennsyl
vsnia had dug q well from which gushed
out Thousand gallons Of oil daily, the
multitudes refused to believe. Many Of
those who did believe werssure the flow
would quickly fall Gift was impossi-
bic such luck should last. II not only
did last, but has been matched by hun
dreds Of others.
In this country development is in pro-
portion to the crowd that can be col
lected. AS in tho gold mines, so in the
oil region. The latter was already with
in a days ride of = dense population,
vino, amazed at the discovery almost at
their own door, hocked in to zee, 70 be
satisfied, and to bore wells. Outsiders,
a thousand miles away, became similarly
affected. Presently Oil City was founded,
aud population flowed in az rapidly ss
the oil flowed out. Thousands took 70
boring il was, in fact, q community Of
borers. The rush was in a small way
equal to California itself Within 3 sin
gle year petroleum became an important !
staple. It's hiding place in the csverns |
beneath us has been penetrated, only 10 |
prove that the supply is inexhaustible. \
L has already founded new cities and /
given prodigioHs vitality to old ones
even quickening The trade Of such as
this, and built q railroad twenty seven |
miles in length, over which, in the four
teen months ending with 1883 there were |
carried 40 684 barrels Of oil, =. 727 tons |
Of freight, and within thirteen Of $1,000 |
passengers. Tire receipts were 1884,, 705, |
and the dividend % per cent. All these |
wonders have been wrought within four /
years in = wild region, into which stran-
gers never penetrated, where the land |
was Of little agricultural value, and /
where population never gathered.
Up to 1853 the progress Of the peiro-
leum trade astonished everybody. Bat /
that Of the past year has exceeded all /
expectation. Isis evident the wells have
no bottom. What the product for the
year has been we cannot say. IL may /
be that in the exsitemrnt Of > highly /
prosperous business no accurate account
has been kept. Bat the Custom House
figures give some indication. Petroleum /
is exported 10 every country IL the world. /
In 1861 we shipped liz. 476 gallons IN /
1862 IL rose 70 10 657, 70l gallons, and ia 4
1863 Il reached she extraordinary guam /
tity Of IS 600 OOO. OF this total, 49, /
544604 gallons we're shipped from this I
port. In addition 70 this foreign export, /
the home demand is enormous. Though |
the whole business Is strictly q new one. /
yet il has already assumed shape and /
stability. Ships for conveying il to
England are constructed oil tight, and
the barrels emptied directly into the
hold, thus carrying il In bulk. The sx- !