deprived of our railways, our locomotives, our steam-fleets, and much of our commerce, and prosperity. Mr. Reynolds saw the evil in prospective, and in a letter to Earl Gower, President of the Council, dated the 7th month, 1784, takes a very just review of the past history of the trade and the improvements then about to be adopted. He says:— “The advancement of the iron trade within these few years have been prodigious; it was thought, and justly, that the making of pig iron with pit coal was a great acquisition to the nation by saving the woods and supplying a material to manufactories, the make of which, by the consumption of all the wood the country produced, was unequal to the demand; and the nail trade, perhaps the most considerable of any one article of manufactured iron, would have been lost to this country, had it not been found practicable to make nails of iron made with pit coal; and it is for that purpose we have made, or rather are making, the alterations at Donnington-Wood, Ketley, &c., which we expect to complete in the present year, but not at a less expense than twenty thousand pounds, which will be lost to us and gained by nobody if this tax is laid on our coals. The only chance we have of making iron as cheap as it can be imported from Russia, is the low price of our fuel, and unless we can do that there will not be consumption equal to half the quantity that can be made, and when we consider how many people are employed on a ton of iron, and the several trades dependent thereupon, we shall be convinced the Revenue is much more benefited even by the consumption of excisable articles, &c., than by the duty on a ton of foreign iron; nor will it, I believe, escape observation that the iron trade, so fatally affected by this absurd tax, is only of the second, if indeed, on some account, it is not of the first importance to the nation. The preference I know is given, and I believe justly, as to the number of hands employed, to the woollen manufactory; but when it is remembered that all that is produced by making of iron with pit coal is absolutely so much gained to the nation, and which, without its being so applied, would be perfectly useless, it will evince its superior importance, for the land grazed by sheep might be converted with whatever loss to other purposes of agriculture or pasturage; but coal and iron stone have no value in their natural state, produce nothing till they are consumed or manufactured, and a tax upon coal, which, as I said, is the only article that in any degree compensates for our high price of labour, &c., or can be substituted in the stead of water for our wheels, and bellows, would entirely ruin this very populous country, and throw its labouring poor upon the parishes, till the emigration of those of them who are able to work shall