The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-09-25
v.rsIpla coai and rsaa saadss.,.


The xsfaordf naffy eSc! grt aud advance
Ia the prices or the codI and iron trade oil
Greal Britain are bringing prominently be-
iofe european capitalists the permanent and
increasing value Of railroad property, such as
that OF the Chesapeake aud Ohio Railroad
company, running through and opening up
rich deposits Of coal and iron, a. I'm the State
OF Virginia. The supremacy of Great Britain
Is largely owing TO its coal and iron interests.
The recent advance In the price Of coal and
| iron there threatens revolution I'm these
| branches of Trade which promises to add ma
| terially to the wealth and permanent pros
perity 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 with
| out value to the country, inasmuch as they
were shut out from the markets Of the
world by the want Of railroad communities.
| tons. The coal and iron lands in Virginia
| have been difficult to sell ut $40 and $40 al
acre. and yet they are as valuake as simillr
lands In Pennsylvania which. End read,
market at 81 200 and 81 .00Saeer acre. The
completion OF the Chesapeake and Ohio rail.
road this fall will change ull this. This rail-
road brings the coal and iron of Virginia
within twenty-fonr hours of New York city,
| the coal and iron lands of Virginia Us valua-'
Die rs those of PENNSYLVANIA. With coal and
iron ut their present high prices in Europe,
sud with the unprecedented and ncreaSin.
consumption of iron all over the world. the
opening Of the iron and coal regions of Vir~
glnia through the agency Of the Chesapeake
and Ohio railroad promises results in acces-
sion of national wealth which it is difficult to
estimate. The most sanguine estimates of
what the nation will gain from the open
ing up of the rich mineral regions OF Virginia
by the Chesapeake and Ohio railroad will lie
without doubt OverSEadowed by the actual
figures. At present Great Britain produces
one-half of the iron consumed in the world,
which production last year was 13,500,00O
tons. This total production of iron In the
world last year, 1850, 900 tons, at $50 per
ton amounts to the enormous sum of $685.
100000, or about one-third of our whole
national debt. OF this vast sum, 1875, 900, 600
in iron, produced last year in the world,
Great Britain manufactured and sold one
half. The State of Virginia therefore,
through the agency of the Chesapeake and
Ohio railroad, with coal and iron close to-
gether, rich, abundant, and cheap to work,
has the opportunity for creating new wealth
commanding 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 rail
road was built. This new era of dear coal
and iron In Great Britain will prove greater
and more lasting source OF power and
wealth to the United States than all the gold
and silver of the West. The coal and iron
industries of the United States threaten more
momentous effects on the supremacy Of
(Irpof britain than oil oI,r rrapip,ts ,,ntn1S
The opening upof the rich and iow-rriccd
coal and iron lands of Virginia and the conf
pletlon Of the Chesapeake and Ohio railroad
at this time. when Pennsylvania lands are SO
high and Europe is at its climax OF high
prices, is, to say the least, q curious coinci-
dence. 1t begins a new era in our COM
merce. Nature seems to have provided Il
new and more abundant supply at the crti-
chi moment when the need is greatest and the
high prices might affect consumption. -Nc,c
York World.