New-York tribune., 1872-05-22

NEUTRALITY-SUSPICIOUS. BUSINESS
One wear ago large number OF intelligent
and practical engineers organized themselves in'o
the American Institute of Mining Engineers.
xih a vew TO meeting at fixed periods
toeYchanee whatever valuable information they Ins'
have acquired during their studies and travels anu
discuss the economical production OF the usciui
and metals and the safety and welfare OF '"vSo -,
Moved in these industries The Institute was iou ,
under unusually good auspces-the hearuesV ~. 80
wishes OF all well informed IN sue" ,""'' a.
,eeompany ing the enterprise, and '"puiS -
creAsing membership strengthening ana suppoi,iA ,
-Four meetings have been held at "IAesu"ii''
hem Troy and Philadelphia, and the institute ~" I1i
bers 200 active members, peSoo n''H' a., ,o,
members and associates Last evening the uis' aiiu
,, vas hegun at Cooper Institute in the rooms Oh
ar ooo,rarhieal Society, H. w. Raymond OF tms CITY
occupvine the chair, IN place OF the PRESIDENT Dat"
Thomas who has resigned on account Of falhng ues"
In calling the meeting order Mr. Raymond hrouuoeu
hrram $ Hewett who delivered an address OF "ecO"o
IS follows ..
Mr. PRESIDENT AND FELLOW MEMBERS OF lah
AMERICAN INSTITUTE OF MININ0 ENGINEtks- i.o
Is assigned tho honor OF bidding you welcome 10 'Ho
CITY of NewYork on this the occasion OF our hrsI al"
nual meeting, and am sure that you WIZ ma Soui
selves made welcome by all who have the honor anu
prosperty of the city at heart. For NeW-1orh' "'e
far from being the cherished home OF sclcnoo anu ~ -"
co,nprehends that its growth and its future creatures
dg,g nde
., tho coupfgv OF which it is the eomnercmi
,,o,,oroiis. and IL il sufficiently enlightened TO
understand the necessity OF sclenlino ~ he
and trained experence, i9p ,e ,ts from industrial
enterprises. No body Of men can unoersIiau ~
ihan You that capital essential to the deyeoPment oi
Tarsi resources the scale demanded by modern CIV
inzafon capital does not always conpreFforIt f tbe az
Iuny that science and experience are % ,in6eT
profitable use of money In the vast nuustIat a
iakngs Of day and hence result great WaeS 0i r
sources and disastrous failures lew ,tt Uons f sncb
may serve 10 shed light on TINS snpecI 4t - to
material consequence 70 science ana ealS' l a. % formal
Welcome venture briefly 10 suggest them as the means M
of cstablsbing common ground OF sympathy 'uu ~ ioi
Of business, and am sure that you VIII pardon !le %
n draw my Illustrations from that subject Win "l0n
am most familiar-the production OF ilron'
TIE DEVELOPMENT OF IRON MANUrAcTURE'
occasion 10 trace the history Of the manufac-
trc of ron and established what may be terheu us
odeyelopeut rather rude indeed but plainly depehueV
upon the growth OF population and the spread OF CIVIL
gtop throughout the world AT that time tho annual
rrosucton Of iron had reached about 100000 tuns OF
which Great Britain produced Sq3Oo1 tanS, ah% ' oi
United states about 1OoO0CO tuns The cons9mpqGh o
Great Britain was IA pounds, and OF the OhlIeu
STATES a pounds, while the average sG U3n u
pep pbead. Of population 1t was shown that the
consumption per head was steadily on tne increase au @
MAT consequently the annual production was en-
VS. nTedctcd after making due allowances for al draw
issts eGch ms the wars which have uuhappily taken
place in the interval beyond any possible
100000 tuns. actual returns show that III 9 lsal
f.i.
~, I,r ~ ooo epD viii undoubtedly be passed. so that
te ,etinaic made ia 1886 is than realized Mean
willie the consumption has risen in England 20 3
IN e limited states TO pounds, and In the whole world
10 90 pounds per head It's not possible to convey a
thc last II years than this statement affords me con
sumption of iron measures the PIostes s S St a ord
viii Intimately require much iron per head as we now
0f over 70o0Oo0) tuns viii be required But II the Sc
figures to be at all wild, no one can Tor moment
doubt that the next II years will double the pIesen an
nual production Of iron bringing ~ up 70 2SVOoO ts t
per anuum; audl tecl qmte sale IN "ssC 1'nS tI' @
beginning Of the 2Oth century Whch some uluOut w Wy
may hope 10 see. viii witness an ahhuu PIOuueuoA VI
over 4OOo0eO tuns.
You need not lo told that iron is produced at less
money cost Great Britain than in other quarter
of the globe This has enabled her TO produce about
onchalf Of the total annual make. OF the 100000 tuns
made in 1856 Britain produced 35S59O6 tuns, and
of the uns produced last year. she turned out
nearly 100000 II is evident, however, that there
limits IN the way OF raw matelaI ana aDor' Dey
which Great Britain cannot While see 10 reason
10 dou that there Will be n steady increase in produc
,o - Is cient That she will not be able to supply here
nitCr ms heretofore, so much half the annual wants
Of the world for IRON But allowing tls pIOporIOh 70
Britain, there will stn remain 100000 tuns to
be made by the rest Of the world; Ile history
of the trade as Wen as tle natural resources @ % OF
The several uauondhes prove tnat the DuIh UI s aI-
oual product only be made in the United States
We IN fact the only people who hayekept pace with
Great Britain I'm the ratio OF Increase In lS55, WDen
Great Britain produced 35100O tuns we produced 1000
90 tuns. In 1872 when Great Britain viii produce
10000 a. tuns produce 2OOOOoO tuns-the quantity
produced in Great Britain IN lefi, showing that we
,S Rf as Greaf BItain cannot possibly Inaintaln
lcr rate increase, there does not seem room for
doubt that annual production VIII reach at least
lo0OlC90 and win probably amount 10 1jO0OOOO tuns
hfrrc the close OF tie present century This means
that 26OOOOO t0000 tuus of iron ore sha DC annu-
siiv eytrrtcd nom Our mines and that coal pro-
ductOn will exceed 1OOQ0lOO tuns per annun, required
for iron and other branches of industry IL means that
an Investment capital to the amOm Of $500 100000 at
least aud probably $1,000 100000 shah be made IN open
ingm.ucs erecting ork aud supring the requisite ma,
cueTy OF Prcdac New YORK Is already tIe h1ahcal
ecute of the American Continent aud Is destined to be
the main dsrD4ior Oh eaItSi doI & Ine VOL Moi4 Ls VAST
tum Of money viii therefore De GraWH rom tne aeCu-
latlOus OF capital controlled III New-HOTk, ana It's pro-
ductyc results Will depend mainly upon the judgments
and SKIN displayed Ia ls expenditure iCIe lhen Is he
common ground which capital and science must meet
aud shake hands and DE heucetOrth lnseparable friends.
But II be iuc mission OF seC 's "
t with industry, t is tae stu higher and nO6er mission
fail conflict capital audabor Where there
Should DC peace mere is war mere hauIg INTENDED II
say after the most careful Investigation, and
lsen made a cost in foreign countries TO allow
the worbucu engaged IN It's production fdir share OF
the uCcessrcs comforts oI NE Ihs Is due TO the
fact that tho possession of virgin resources in coal and
iron made 20 increase production beyond the
ias had the effect reduce prices low point that
propcr wages could not be pad, ana nanhlhd mas nee
enabled 70 set cheap goods al inc expense oI humanity
itselL =,
Vlrgln resources are manly exhausted aud IL Is no
longer possible III L9IoPy, at 0sa " & ien tbe
iron than the world requires prices nave Ilsen5 tc
W9knen demanding and receiving more reason
then 70 d themselves and their families a rational
nee and enjoy OF the fruits OF their toll In looking
the European mines and works which have trayersed
20 often and looking forward 70 the more cheerful
prospect spread before the of toll, am
tenpted 20 exciam with the Patrarch: Lord, now
itest thou thy servant depart Ia peace ioF mine eye
tly salvation"
TIE BLESSINGS OF CHEAP IRON.
But cheap is blessing TO mankind and TO deprive
the world of 1t a calamity serious that no one can
contemplate 1t without feeling OF reluctance Here,