8 FEBRUARY 1873, Page 2

Sir W. Armstrong has delivered to the North of England

Institute of Miners and Engineers a remarkable lecture about the price of coal. He believes that the supply is not now equal to the demand, the men only working 33 hours a. week and that irregularly, and has little hope of improve- ment except from economy of fuel. The requirements of the country demand 100,000,000 tons of coal a year, besides 10,000,000 tons for exportation, and every additional shilling a ton is a fine on industry and housekeeping of £5,500,000. When he spoke the rise had been about 88., but the selling price is now 50s. for best coal, or say a rise in the year all round of 20s. This is equivalent, should the price keep up, to a demand for £110,000,000 extra next year, and besides inflicting the deepest distress on the poor, who in many eases literally cannot buy coal, will compel all manufacturers to raise their demands. It is by no means certain either that the limit is yet reached, the interest of the owners being opposed to large "out-put," and we have heard of bargains on the Coal Exchange based on the buyers' certainty that coal will soon reach 60s. It must, we believe, reach 80s. before importation would relieve us from dependence on our new .masters,—the coal-owning Ring.