The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1872-01-18
THE COAL SUPPLY.
We Must Look to the Kanayha Valley

70 the Editor erate Cincinnati Commercial:
have just returned from trip to the
West Virginia coal fields, and over the
line of the Chesapeake and Ohio railroad.
have compared this section of country
with others as supply point for coal. As
Pittsburg is and has been our purchasing
market, at that point we begin.
Fifteen years ago, coal sold in Pittsburg
at five cents per bushel, delirered. This
year the same coal commands ten cents.
1t is obvious that this advance of five cents
must either be absorbed in expenses of
mining, in the appreciated value of unmined
coal, or it must make the fortunes of the
proprietor of the mines. 1t does not go in
to the profits of mining, or the land yet
known to contain coal would be broken up
by spectators. That mines are so deliber-
ately opened, is evidence that prices OBJ
tanned are only fair return for capital in
vested in working them. | will not deny
that mining is not more profitable than at
the five cent period; but the mining ac-
count has not all the profit.
The cost of mining has not advanced
sufficiently to take up the five cents adj
vance in price of coal. The great advance
has been in the value of the coal in the land,
and prices to-day are based, not on the cost
of mining, but on the present and prospec-
tive value of coal as an investment.
Miners do not produce; they are simply
ware-housemen and sell from their stock on
hand that stock is limited and can not be
replaced as stock is reduced, an advanced
valuation is placed on stock on hand. I'M
der this law prices have doubled within fif-
teen years. The supply has not been in
excess of the demand, or that advance
could not have been obtained. The prices
have not been attractive to coal land own
ers, or the supply would have worked up
closer to the demand. The demand has
doubled prices, and yet supply has not re-
sponded sufficiently to check the rising
rate and we may ask, when the demand
doubles, will prices again be multiplied
Can we expect the next ten years will
show different results from the last.
Demand Consumption is population.
Population doubles by natural laws will
doubtless double again in given time, and
continue to double by operation of the
same law. To keep pace, then, with the
demand, we must double the supply ano
continue the multiplication. Can our pre-
sent supply fields Pittsburg) meet this
"quick, increasing" demand, without adj
vancing prices? They can not. They
COuiu DC Stiiuuldteu ny ui5lel PiiCOo "
produce largely; but if asked to double
within ten years, would certainly double
prices, and would fail to meet the demand
in the following ten years at any price
They have not the stock on hand all til,
section bearing first-class coal, known a
"Youghiogheny and No. ] Pittsburg,'
has been worked over, or is now worked
large inroads have been made on all Goa
convenient to the river; prices have ad
vanced within thirty years from fifty to on
thousand dollars per acre the fixed stool
already enters largely into all the calcula
tons Of oil manufacturing operations, an
the word s'unlimitedo no longer applies t
this coal supply.
Pittsburg, then, having light home de
mand for ten cent coal, with high and ad
vancing prices on coal lands, cannot be re
lied upon for future supplies of cheap Goa
for export, and the people of the Ohio an
Mississippi Valley must look to other col
liers for our fuel. As the high prices /
Pittsburg result from high valuation on ur
mined coal, stimulated by an exhaustiy
home demand, and known quantity 0
hand, we must draw our supplies fror
fields where coal as acre property IS nc
influenced by the same circumstances.
The question of future supplies begins t
attract attention. The prices current i
this city averaging twenty-five cents fo
past four months, and now twenty cent
per bushel, in the face of extraordinar
large receipts makes this question imme
date. And in the Kanawha Valley W
find answer. There we find the best col
in the world for all purposes, and we ma
say in unlimited quantities; coal for ga
steam, domestic use, manufacturing, iro
without cooking), splint coal, and came
and of the latter, Professor Charles NJ
Cresson, of Philadelphia, writes: ut
the best have examined, excepting, onl
the Boghead." The aggregate thickne
of the seams above river level is forty fee