Washington Paper - Blast-Furnace Statistics

In the year 1874, when the price of pig-iron was still high, that staple product became the subject of discussion in the newspapers and among those philosophers who are determined to know the "reason why" for all things. The object of the inquiry was to find out Why iron did not fall in price as much as some other things had fallen. Indeed, there seemed to be an impression that iron and gold ought to move on nearly parallel lines, for the fact was constantly brought forward that iron then cost twice as much as it did before the war, though gold had returned to within twelve or fifteen per cent. of its former value. After some time the papers, by what seemed to be nearly unanimous consent, reached the conclusion that the maintenance of high prices was the work of the furnace proprietors, who, as the result of their shrewdness, were pocketing enormous profits. No proof was given to support this opinion, and the figures of cost and sale that were produced were of the most general kind, and used in the most vague manner. Visiting the president of the Thomas Iron Company, whose great works at Hokendaqua and Catasauqua, in Pennsylvania, are so well known as the largest and among the best conducted in America, I found him quite willing to meet the vague suspicions of the newspaper wiseacres, by a publication of the figures contained in the furnace-books of his company. These were accordingly given to the world through the Engineering and Mining Journal, and attracted the general attention they so well deserve. Though my own name became connected with these statistics, from the fact that I used them as the basis for the first attempt ever made to calcalate the furnace economy of an American works, I can, without the suspicion of egotism, say that the statistics referred to are the most valuable contribution the literature of American blast-furnace work has yet received, for their interest is independent of personal considerations, and due entirely to the fact that they represent faithfully the details of practice in one of the most prominent American works. They are an exact transcript of the furnace-books, and form a body of accurate information of the greatest value to the metullurgical student. Their importance is shown by the fact that though the theoretical conclusions which I based upon them have been several times attacked, not one of my critics has made the slightest contribution to