It seems to have occurred to some London capitalists that money was then to be made in the iron trade, and that South Wales was a good field for an experiment. The soil there was known to be full of coal and ironstone, and several small iron works had for some time been carried on, which were supposed to be doing well. Merthyr Tydvil was one of the places at which operations had been begun, but the place being situated in a hill district, of difficult access, and the manufacture being still in a very imperfect state, the progress made was for some time very slow. Land containing coal and iron was deemed of very little value, as maybe inferred from the fact that in the year 1765, Mr. Anthony Bacon, a man of much foresight, took a lease from Lord Talbot, for 99 years, of the minerals under forty square miles of country surrounding the then insignificant hamlet of Merthyr Tydvil, at the trifling rental of 200L. a-year. There he erected iron works, and supplied the Government with considerable quantities of cannon and iron for different purposes; and having earned a competency, he retired from business in 1782, subletting his mineral tract in four divisions--the Dowlais, the Penydarran, the Cyfartha, and the Plymouth Works, north, east, west, and south, of Merthyr Tydvil. Mr. Richard Crawshay became the lessee of what Mr. Mushet has called "the Cyfartha flitch of the great Bacon domain." There he proceeded to carry on the works established by Mr. Bacon with increased spirit; his son William, whom he left in charge of the ironmongery store in London, supplying him with capital to put into the iron works as fast as he could earn it by the retail trade. In 1787, we find Richard Crawshay manufacturing with difficulty ten tons of bar-iron weekly, and it was of a very inferior character,[11]--the means not having yet been devised at Cyfartha for malleableizing the pit-coal cast-iron with economy or good effect. Yet Crawshay found a ready market for all the iron he could make, and he is said to have counted the gains of the forge-hammer close by his house at the rate of a penny a stroke. In course of time he found it necessary to erect new furnaces, and, having adopted the processes invented by Henry Cort, he was thereby enabled greatly to increase the production of his forges, until in 1812 we find him stating to a committee of the House of Commons that he was making ten thousand tons of bar-iron yearly, or an average produce of two hundred tons a week. But this quantity, great though it was, has since been largely increased, the total produce of the Crawshay furnaces of Cyfartha, Ynysfach, and Kirwan, being upwards of 50,000 tons of bar-iron yearly.