The Portland daily press., 1873-02-22
Iron Product of this Country

30 Some idea OF the rapid development of the
iron producing interest in our country is Derry
statistics presented by the Iron Mas
. tiers Association which held its second annual
session in New York last Wednesday. In the
year 1872, the number of tons of pig iron
az turned out of our furnaces was 2,3Ss, $50, an
increase of one-fourth upon the product of
the previous year. In 1872, one hundred and
aq nine new furnaces were completed; and for
Sg 1873, thirty-nine are already determined up
on. The new furnaces, at an average of fif-
10 teen tons day for two hundred days, would
alone produce 327, 600 tons.
The iron product of the country in 1872
cannot be put less than 3, 100000 tons while
the amount imported during the same period
- was 255 900 tons, which goes to prove the en-
Z tire correctness of Gov. Perham's statement in
a. his last annual address which we admit We
were inclined to question. 1 ai~'
a'ns Such is the rapid development of the coun-
try, that with this immense increase of pro-
a duction, hesdemand for iron outruns the sup
iiq ply The railways of the United States alone
Z require two and half million tons of iron
annually, and the ordinary demands for iron
/ for building purposes, for machinery and
" pipes, and for domestic and common use.
absorb all the rest of that metal which can he
, made or imported. adT .hI'm h8r
70 The increasing cost of the production OF
" iron in Great Britain is telling against that
SO country in favor OF our own production
which is becoming cheaper as the processes
OF manufacture are better understood. The de-
mand for iron exceeds the supply. prices are
naturally increasing and at presentit is stated
a. that the iron masters are realizing profit of
3 SIS or $40 a ton on all the iron turned out.
'o4 This large profit will stimulate an immense
2i development of the producing power which
al will in a few years give the United States the
p lead Of the iron producing nations, and thus
1T may be expected that this country instead
An ofabeing drained of millions of money to pur-
chase iron, will not only retain the gold at
- home but export its overplus to other coun-
OUR .neighbor is informed that we Judged
that our readers would be better satisfied
with a full abstract Of the Bank Examiners
report on Thursday morning than with our
views on the report of Mr.. Cox's Credit Mo
ssbilier Committee. Indeed, the argus second
ed our judgment by reproducing ON Friday
the greater part of our abstract and making
81 use of some tables of western and other Sc
curities that it took us some time to collect
and put in the form in which it borrowed
them from us. Matters like the reports of
the Railroad Commissioners and the Bank
Examiner we do not propose to borrow from
our neighbor. As to waiting for the New
York Times opinion, the argus will see that
we differ as far as possible from the comments
Of that paper on the merits of the report.
Happily for our neighbor there is nothing in
its leaders that will lay it open TO the charge
Of borrowing them. .8
II 1oiEf9V l-1oo--- ------ - : -,41t
! omA WASHINGTON special states that the
IN opinion in favor of the recommendations of
the Poland Committee is strengthening and
" there is possibility of their adoption. The
3 Democrats to man will be against it and
1.-The Southern Republicans, who are clamorng
Z for greater recognition on the committees OF
o the next House, will attempt to have the
names Of all the gentlemen implicated added
~ to those of Messrs. Ames and Brooks; and
ID failing in this, all except Messrs. Dawes and
Garfield. This worthy cotton-tax ring, it is
% said, threaten Speaker Blaine, if his rulings
oi are not in their interest. 1t will be novel
a spectacle to see the members that the Demo-
Gratis have been denouncing as s'carpet-bag-
> ging thieves" uniting with that side of the
r1s House in an attempt to disgrace Henry l..
Iloxr rs A. q