DOI Page / Citation link:
https://doi.org/10.11588/diglit.22140#0396
380 INDUSTRIAL AND COMMERCIAL HISTORY.
constantly becomes an object of diplomatic negotiation and
treaties, the English Government stipulating for the free export
of French salt, of which you may find copious evidence in
Dumont's collection of treaties. The next stage was due to
the growth of chemical science. Easy and cheap processes were
discovered, by which salt was successively transformed into sulphate
and carbonate of soda, in which latter form it has a great eco-
nomical use, as for instance, in the manufacture of hard soaps.
The third stage was also the result of chemical discovery, and is
due to the utilization of waste or bittern, which is always present
in sea water, and generally in salt springs, and contains those im-
portant elements, iodine and bromine, though I have recently
been informed by a well-known manufacturer, and promoter of
the syndicate, that the Cheshire springs are almost devoid of these
constituents ; and therefore, if as is constantly the case, the profits
of the manufacture depend on the bye-products, are in a less
favourable position than other deposits, such as those of Eastern
and Southern Germany, where they are far more plentiful.
Now let us grant, as evidence seems to prove, that the action of
the syndicate has raised prices, and consequently profits. The
question is, will the rise be permanent, or indeed anything but
temporary ? One of the first announcements after the combina-
tion had taken esfect was that there are vast, and as yet unworked,
salt deposits in the county of Durham, which an exaltation of
price will assuredly bring into the market, that is, into competition
with the syndicate. These deposits are said to be deep, but at
present Artesian boring can be carried on at a quarter the expense
which was necessary twenty or thirty years ago. Only a few days
ago, I read that more accessible deposits exist in the Carnforth
district of North-west Lancashire. Besides, these are the great
salt mines of Cracow, and those from the Saltz Kammergut. An
appreciable exaltation of prices would bring these into the market,
and expedite the transit of them by new railways. Now, the con-
sequences of this kind of competition are that if it be once taken
in hand and carried into completion, the latter end of the existing
production will be worse than the beginning, for it is a rule in
production which speculative economists are apt to entirely lose
sight of, that existing industries, however they may have originally
constantly becomes an object of diplomatic negotiation and
treaties, the English Government stipulating for the free export
of French salt, of which you may find copious evidence in
Dumont's collection of treaties. The next stage was due to
the growth of chemical science. Easy and cheap processes were
discovered, by which salt was successively transformed into sulphate
and carbonate of soda, in which latter form it has a great eco-
nomical use, as for instance, in the manufacture of hard soaps.
The third stage was also the result of chemical discovery, and is
due to the utilization of waste or bittern, which is always present
in sea water, and generally in salt springs, and contains those im-
portant elements, iodine and bromine, though I have recently
been informed by a well-known manufacturer, and promoter of
the syndicate, that the Cheshire springs are almost devoid of these
constituents ; and therefore, if as is constantly the case, the profits
of the manufacture depend on the bye-products, are in a less
favourable position than other deposits, such as those of Eastern
and Southern Germany, where they are far more plentiful.
Now let us grant, as evidence seems to prove, that the action of
the syndicate has raised prices, and consequently profits. The
question is, will the rise be permanent, or indeed anything but
temporary ? One of the first announcements after the combina-
tion had taken esfect was that there are vast, and as yet unworked,
salt deposits in the county of Durham, which an exaltation of
price will assuredly bring into the market, that is, into competition
with the syndicate. These deposits are said to be deep, but at
present Artesian boring can be carried on at a quarter the expense
which was necessary twenty or thirty years ago. Only a few days
ago, I read that more accessible deposits exist in the Carnforth
district of North-west Lancashire. Besides, these are the great
salt mines of Cracow, and those from the Saltz Kammergut. An
appreciable exaltation of prices would bring these into the market,
and expedite the transit of them by new railways. Now, the con-
sequences of this kind of competition are that if it be once taken
in hand and carried into completion, the latter end of the existing
production will be worse than the beginning, for it is a rule in
production which speculative economists are apt to entirely lose
sight of, that existing industries, however they may have originally