Daily union and American. [volume] (Nashville, Tenn.) 1865-1866, 1866-02-10


PoRT&yCE or THE sUBJECT.
The heavy trade in this article Of mer-
chandize, and the rapid increase both in
production and consumption is tluely aston
ishing. We see it stated-and we suppose
correctly-that the total exports from the
port Of Philadelphia amounted as follows:
679f227
Au other prodaets---'--.---. e.925
Making more than million dollars in ia
yor Of petroleum over and above all other
products exported. New York exported
more than twice as much as Philadelphia.
Baltimore and Boston also did large ex-
port trade
1t is supposed that the income Of Petro-
leum in the United States was ST., O00, 900,
and its cost of mining compared with gold,
silver, and coal, is very small.
Pittsburgh has fifty-eight refneries, with a
capacity for 10000 barrels per week.
Cleveland, Buffalo, and many other places
do large refining business.
We are gratifed to learn that one or more
refneries are soon to be erected in Nash
VILE We know of no business,-not of a,
speculative character-more inviting to cap
italists.
The wonderful change which the discoy-
cry Of petroleum wells has wrought in GER
tain districts in Pennsylvania is shown by
correspondent who puts down the daily ar
rivas of horsemen at the town Of Pithole
last summer at 1,274; of footmen, 400; the
latter not being able to obtain conyeyances,
all anxious to get into lie.
Properties changed hands for leases in
some instances at $4,000 to $40, 900 per acre,
and one quarter of the OIL and it is said that
one farm, less than 200 acres, sold for ST.
100000, not worth 50, 900 twelve months be-
fore. Prather City seven months ago bat
field and forest, now has 700 or 300 houses.
Two other towns on Pithole creek have
grown in like manner.
Rapid as hassbeen the increase of produc-
ton, consumption seems to keep pace with,
if not in advance of it. It is being turned
to thousand different purposes. We are
gratifed to observe that its use is destined to
work great revolution in the economy of
light and fuel. Chicago and New Orleans
are making efforts to light those cities with
petroleum, as it promises to be much cheaper
than the old method. -
The business of furnishing gas in most of
cities as in Nashville, is monopoly; and it
is not in the nature of monopolies to be sat-
isfed with fair remuneration for their SER
vices. There is no tax to which the people
of Nashville are now subjected that is so
burdensome as that of gas, and if the substi-
tuition of petroleum in other cities is sue
cess, we can see no reason why it may not
be resorted to here.
We also have petroleum stoves for heating
and cooking, which claim wonderful advan-
tanges over all other stoves. They have not
yet been introduced into this market, but We
hear them so favorably spoken of by persons
who have seen them and tested them elte-
where, that we have every confidence in
their success. 4
Heretofore, nearly all the enormous wealth
flowing from this source has been developed
in comparatively small district in Penn
sylvania, and West Virginia, which has
added much to the growing wealth Of many
places North. Such wondrous fortunes made
in day or week has created thorough
search and prospecting in many other To-
calities and the region most popular now for
future development seems to be on the Cum
berland river, and other portions of the
mountain region of Tennessee, where some
large wells have lately been struck, and bid
fair to become as celebrated as Oil Greek or
Pithole.
In the prosecution of this business, at
points of easy access to Nashville, by rail
or water, it is thouget there will be humid
reds of engines at work by the middle of
April. Like operations on Pithole and Oil
Creek, those who go in early, before
become too high, viii reap the |
golden harvest. Considering the fact of the
discovery of petroleum only five years
ago, it must be in its infancy yet. New dis
coyeries for its use are being made daily. |
Not one-fourth of our own country has yet |
found out its valuable use, besides the mil
lions abroad to be supplied!
In view of this immense business to be |
developed at our door, and which may be-
come source of great wealth and of innu- |
merable advantages to our people, we should |
be careful to put forth, at once, that |
and ready use of capital, without
which Louisville, Cincinnati, st. Louis and
other cities, viii be sure to appropriate to
that which more naturally be-
longs to us.