The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1872-10-03
Virginia Coal and Iron Lands.

The extraordinary excitement and advance
in the prices OF the ccai and iron trade of
Great Britain are bringing prominently be-
fore European capitalists the perinan ent and
increasing value OF railroad property, such as
that Of the Chesapeake Il Ohio Railroad
Company, running through and opening UP
rich deposits Of coal and iron, as in the State
Of Virginia The supremacy Of Great Bril-
tain is largely owing 10 its coal and iron ill.,
terests, Inc recent advance Ia the price OF
coal aud iroa there threatens revelation ia
branches Of trade which PROMISES to add ma
terialiy to the wealth snd permanent pros
peyity Of the United States Virginia is
richer III iron and coal lands than the STATE
OF Pennsylvania. Virginia iron and coal
lands have been until now, absolutely with
cut value to the country, in>onuch as they
were shut out from the markets Of the world
by the. want OF railroad COMMUNICATIONS
The coal and iron lands in Virginia have
been difficult to sell at $40 aud $50 an acre,
and yet they are as valuable as similar lands
in Pennsylvania which find ready market
at sl00 and $500 per acre. The completion
Of the Chesapeake and Ohio Railroad this
fall will change all this. This railroad brings
the coal and iron Of Virginia within twenty
four hours Of New York city, and with the
application Of capital will make the coal and
iron lands Of Virginia rs valuable as those
Of Pennsylvania With coal and iron at their
present high prices in Europe, and with the
unprecedented and increasing consumption
Of iron all over the world, the opening Of the
coal AID iron regions Of Virginia through
the agency ct the Chesapeake and Ohio rail-
road promises results in accession of national
wealth Which it is difficult to estimate. The
most sapguine estimates Of what the nation
viii! gain from the opening up Of the rich
mineral regions Of Virginia by the Chesa-
peake and Ohio railroad will be without
doubt oyershadowed by the actual figures
AtIreseat Great Britain produces onehalf
Of the iron consumed in the world, which
production last year was 100000 tons
This total production Of iron in the world
last year, l3,5O0,000 tons at $50 per ton
amounts to the enormous sum Of $675 COO.
000, o. about one-third Of our national debt.
OF this vast sum, S675, 600 coo i'll iron, pro-
duccd last year IN the world, Great Britain
manufactured and sold one-half The State
Of Virginia therefore, through the agency Of
the Chesapeake aad Ohio railroad, With coal
and iron close together, rich abundant, and
cheap to work, has the opportunity for crea
ting new wealth commanding a cash market
value in the space of one year greater than
the whole State debt Of Virginia or the whole
market value OF the Virginia lands before
this railroad was built This new era of dear
coal and iron ia Great Britain will prove a
greater aud more lasting source of power and
wealth to the United States than all the cold
and silver Of the West. The coal and iron
industries OF the United States threaten more
momentous effects on the supremacy Of Great
Britain than all our precious metals. The
openlng up OF the rich and low-palced coal
and iron lands Of Virginia aud the compile
tion Of the esapoake and Ohio Railroad at
that time, When Pennsylvania lands are so
high and Europe is at its climax of high
prices, is, to say the least, curious coiuci-
dence. 1t beglus q new era in our CON-
merce. Nature seems to have provided new
and more abundant supply at the critical mo-
ment when the need is greatest and the HIGH
prices might affect consumption York
Horld.