Discussion Of Papers - Stabilization of the Bituminous Coal Industry

CHARLES CATLETT, Staunton, Va.-A great many important things have been said in an interesting way but the most startling, to me, is that for 25 years, the price has been in the neighborhood of $1.00, with a minimum of 86 cents and a maximum of about $1.25. It is evident that during all that time the price was inadequate. The amount paid to be divided between the land owner, the capitalist, and the laborer was too limited or too irregular to permit of a healthy condition; yet it is evident that the enormous industrial development of this country was fostered by this very cheap coal, probably the cheapest that has been provided in quantity in any country. I entered the coal business when the price was lowest and my interest and sympathy went out to the man who spent his days in the dirt and foul air of a mine and I was filled with schemes for helping. But at the end of the year, after exercising every economy and in blissful ignorance of proper depreciation and obsolescence, there was still only a profit of 1 cent per long ton for what I think is one of the best coals in the world, the best grade of New River coal. We are now paying a great deal more than we did a few years ago and probably will continue to pay more for some time; but any one who thinks we will not have low prices again is very young or very forgetful. Yet we must have larger profits if the industry is to be healthy, if the three parties to the production are to get adequate returns and be in shape to provide the improvements which will be needed to take the place of and supplement the man-power. This will come when the men are making so much money that the operator wants to replace the man by a machine, and when the operator is making so much money as to be in a shape to make the improvements. He will not put in machinery unless the machinery will save money. We have got to pay a higher prime cost for coal, but engineering skill will teach us how to handle it better and use it more economically, and the ultimate result ought to be of advantage to the public.