he had timber for it upon his own holding, has 
felt the heavy tax. Now wood is an important 
item in manufacture, and the cost of production 
rises with its scarcity. Quite as disturbing is the 
situation with reference to those other prime 
necessaries of cheap manufacturing and competi- 
tion in the world’s markets—coal and iron. We 
are using now nearly 500,000,000 tons of coal an- 
nually. At that rate the estimated total supply 
of the United States would last 4,000 years, and 
we need not disturb ourselves. But experience 
has shown that our consumption of coal doubles 
every ten years. That is the statistical record of 
the past. If it holds good in the future, and there 
is no reason why it may not, we shall be short of 
good coal at reasonable prices where it is most 
wanted before the end of the present century. 
This is the pinch that Great Britain now feels, 
in being obliged to resort to lower levels in her 
coal mines to obtain fuel for her industries at an 
enhanced cost. So serious is the situation that 
she is already considering the propriety of an 
export duty on coal. The same problem will face 
us in the future of which I am speaking. 
Much more pressing is the question of iron sup- 
ply. This metal is the foundation of the world’s 
industrial life. Our possession of great quanti- 
ties of rich ore in the most available localities is 
a great factor in our development. But last year 
we consumed 50,000,000 tons of iron ore; and at 
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