1853.] Memorandum on the Iron Mines of Raneegunge. 485 



One of the most important calculations on which Mr. Oldham's 

 conclusions rest, is that of the relative cost in England and India, 

 of the raw materials required for the manufacture of a ton of pig 

 Iron — showing a difference in favour of India, of lis. which he does 

 not consider to afford a sufficient margin to cover the increased cost 

 of machinery required for the subsequent processes — or the risks 

 so forcibly and truly enumerated in the 13th page. 



About half of the estimated cost in India is that of limestone, 

 which is set down at 8s. 6d. a ton in Calcutta, and 27s. a ton at 

 Eaneegunge — but the mineral branch of the Eailway is now ap- 

 proaching completion, and though stopped for the present at the 

 Collieries, would doubtless be extended to the site of any large Iron 

 works that might be established — this would convey limestone from 

 Calcutta at about 7s. 6d. a ton, making an aggregate cost of 16s. 

 instead of 27s., and exactly doubling the difference of cost in favour 

 of India. 



But a circumstance which will still further affect the comparison, 

 and which will throw additional weight into the scale of the Indian 

 manufacture, is the great rise which has lately occurred in the price 



* of Iron at home, and of freight of all kinds from England to this 

 country. How far the continuance of these prices may be depended 

 upon, it is impossible to say — but it should be recollected that Mr. 

 Oldham's comparison was made during a period of great depression 

 of the Iron trade, when prices were lower than, I believe, they had 



' ever been before, or were likely to be, or at all events to continue, 

 again. 



On these considerations, I would hope that the prospect of turn- 



I ing to useful account, the mineral riches of this locality, are not 

 now so discouraging as they appeared to Professor Oldham, but I 

 would recommend those, who may contemplate embarking their capi- 

 tal in such a speculation, to commence on a small scale, by the 

 establishment of one or two blast furnaces for the manufacture of 

 cast Iron (for which there is a considerable local demand), and to 

 await public opinion on its quality, before incurring the additional 

 expense of puddling furnaces, rolling mills, &c. 



In connexion with this subject, I may mention that the chairs 

 supplied for the East India Eailway by the Porto Novo Iron Com- 



