New-York tribune., 1870-11-02

York at spuyton Duyy Troy. Rome, Syracuse, Elmra,
and Buffalo. OF quality admitted TO he for superior TO
compelled to compete in price The quality OF our
pig iron Is better than three fourh OF that made in En-
ignored, when discussing the question Of sustaining,
America, the production Of iron In any form.
IL practically inexhaustble The heaviest known de-
posits taking the country through almost untouched
In many OF the easily accessible locations, where the de
p0sits originally worked have been mined deep to
make the ores too expensive for profitable working, new
no loss has been sustained and In others accidental
circumstances or 0ystemac exploration has developed
worked TO cause the abandonment Of the old mlBc,
while yet .the ore was as abundant rs ever. | have
hours ride Of this city, which has been worked for
than century and which l. 80 far from exhibiting signs
OF exhaustion To- have yielded last year, cheapy
over, more than 5000 tuns OF ore striking example
of long continued yield the mines in the Island Of
1000 years and which Yielded i'm 1867 5000 tuns Of
II the manufacture need mot be limited from fear OF
exhaustng and fuel neither should there any soc
tude lest there be too much iron produced. The iron
production the world scarcely with the aug
zeal Independence achieved made anything Ike te
quantity necessary br ts use, while the iron needed
per capita Il constantly Dcreasng 50 that to say tbat
our make of iron increasing astor than our pOpuation
and therefore 10 would perhaps be well to endeayor lndl
recy TO check the growth OF this Industry Is most en-
phatcaly fallaciOus course Of argument T0oompare
very briefly our relative rate OF consumption ana pro
ductiOn, let us glance for moment st the et
for rails, which absoros the equNae' yi a ~, our bh ,nh
of pigron. Since 1885, when we first larry got pIch
after the close OF TIE war, tle ueihanu ~" I", iO'
roads has increased about 10 per cent per % a. H.
Estimating the duration OF rails at 10 years, winch u
certainly liberal, have 10 per cent more oI te Vt
quantity in use required every year Tor repairs ia an ~
per cent per annum the American production OF ras'
in the same tme has increased 13 per cent per anhnh
and in the make Of pig iron there has been an average
increase OF less than II per cent showing tha tne sup
ply OF pig is constantly behind the Increased as,au
from the rail mills, and the supply OF rails constantly
behind the increased demand from the railroads.
A. mercantile adventure, 10 would perhaps De uhi~-
coming to say that il don't pay TO engage IN the
manufacture OF iron. should wish 10 convey tn
idea that we may not, time hope 10 see our IRON
masters experiencing that prosperity when mas maui
some Of the iIonWOrkers III europe us Nedlthest o III
that during the war, when every buslheas pau
extraordinary profits II there be iry colislGeie, t
capital employed, and the heavy risks necessarily taken
the production Of VgirOn has never been arBey pOnt
able the Uaitcd states; and desire mere 70 nay III
reference statement, extensively copied by various
newspapers, that certain lroh-wolk on lie h9oi ht
paid per dividends; that many years before
il paid dividends, and finally recently pald iO PEI
cent-uO the capital actually employed bnt, by tn
aid q its real estate up@a the original capital which
bad ain q long tme without yleldlnS any return t
those originally risknS ii, We may not hope 1or any
sudden change frODs the generally very suabi pr"nl'
furnaces now making; snt gradually, as ,tsoI De
we partially because Of these changes essening the rl7k
building large WORKS, put I'D large furnaces ana ar
compelled to adOps some InferiOr dets OF mehdac
ture, the best are III the DeHlhhne 1H
costly: as are able t. cOmmeud, ana gam Je hlt
Of employing, the best scientific aids to our practca l
nacenen; as h5 experience lso we learn th pest
mpl0yng ores, not staying away n0is the Wste
until We how to SWIM, lest 90 Dealways delthuhnt
on the boat else may or may not, ne WlhsU
aIe u.s. continuing efforts 10 learn, bhough VI
expense of occasionally going uadcr the suaceJ"
staI nualIy a4hieye the which, as thOrougS
Arrercsns tas than ent itIsiastlo ronmasers"e AN
at, when can psohtaby sappy Dot only she heasr
or nresent post "a, and EXPORT ns sead OF importing
this really precious metal.