The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1872-09-25
Virginia Coal and Iron Lands.

The extraordinary excitement and adj
vance in the prices of the coal and iron
trade of Great Britain are bringing prOmi-
nently before European capitalists the per-
mancnt and increasing value of railroad
property, such as that of the Chesapeake
and Ohio railroad company, running
through and opening up rich deposits of
coal and iron, as in the State of Virginia.
The supremacy of Great Britain is largely
owing to its iron and coal interests. The
recent advance in the price Of coal and iron
there threatens revolution in these
branches of trade which promises to add
materially to the wealth and permanent
prosperity OF the United States. Virginia
is richer in iron and coal lands than the
State Of Pennsylvania.
Virginia iron and coal lands have been
until now absolutely without value to the
country, inasmuch 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 and $40 an acre, and yet they
are as valuable as similar lands in Pennsyl-
| vania, which find ready market at 81 900
and 50 900 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 as valuable as
those of Pennsylvania.
With coal and iron at their present nigh
prices in Europe, and with the unprecedent-
ed and increasing consumption of iron all
over the world, the opening of the iron and
coal regions of Virginia, through the agen-
cy Of the Chesapeake and Ohio railroad
promises results in accession of national
wealth which it is difficult to estimate. The
most sanguine estimates of what the ma
ton will gain from the opening up OF the
rich mineral regions of Virginia by the
Chesapeake and Ohio railroad will be
without doubt oyershadoWed by the aetna
figures.
At present Great Britain produces one
half Of the iron consumed in the world
which production last year was 1850 ,00C
tons. This total production of iron in the
, world last year, $780, 900 tons, at $50 pc
! ton amounts to the enormous sum OF 500
! 600, 900, or about one-third of our whole
national debt. Of this vast sum, 4675, 900
i, 600 in iron, produced last year in the world
r Great Britain manufactured and sold one
q half. The State Of Virginia, therefore
' through the agency of the Chesapeake an
Ohio railroad, with coal and iron close tt
gether, rich, abundant, and cheap to work
e has the opportunity for creating new wealt
It commanding a cash market value in I'll
!, space of one year greater than the who
e State debt of Virginia, or the whole mark'
Is value of the Virginia lands before this raj
IF road was built. This new era of dear CO;
i and iron in Great Britain will prove grea
e. er and more lasting source of power ar
e. wealth to the United States than all tt
(. gold and silver of the West. The coal al
A. iron industries of the United States threat'
t. m ore momentous effects on the suprema'
T. ofGreat Britain than all our precious meta
h, The opening up of the rich and 10y
il priced coal and iron lands Of Virginia, al
T. the completion of the Chesapeake and Oh
of railroad at this time, when Pennsylvar
ed lands are so high. and Europe is at its c
ty max of high prices, is, to say the least,
n curious coincidence. 1t begins new {
on in our commerce. Nature seems to ha
NO provided new and more abundant SUPP
ty at the critical moment when the need
n greatest and the high prices might att
consumption York World.