Pittsburgh Paper - The Position of the American Pig-Iron Manufacture

THE iron trade of America seems on the point of a new departure. After years of struggling against heavy odds, patient endurance in periods of depression and loss, fears and hopes alternating as failure or success seemed to be the penalty or reward ; wanting in sufficient capital, embarrassed by reason of imperfect knowledge and lack of skilled labor, confronted by a powerful foe-every doubt has at last vanished, physical and mechanical difficulties have been largely overcome, capital has become more abundant and remunerative, the excellence of our product has been everywhere established, - and the peculiarities of American character-pluck, energy, and perseverance -have at last placed the trade upon a foundation so broad and stable that upon it we begin to erect the structure of a world-wide business. Concerning the future of the iron trade in the United States there can be but little doubt. The growing scarcity and constantly increasing cost of raw material in Great Britain, their loss of labor by emigration, the social disturbances among the working-classes, assuming a more threatening attitude on each new outbreak ; the rapidly decreasing value of money, in consequence of the enormous production of gold and silver, combine to forbid any return to former prices, and indicate that a point has been reached beyond which any marked increase of production is improbable. The same causes are operating to a greater or lesser extent upon the Continent. . In the meanwhile the growing wants of humanity are rapidly outstripping these sources of supply. In addition to the steadily increasing foreign and home demand, we find, the world over, the most intense activity everywhere displayed in enterprises requiring