Sir Auckland Geddes went on to illustrate the effects of
a further rise in the price of coal. Gas, for instance, would cost 6d. or 9d. more per thousand cubic feet. Our whole export trade was .threatened. Steel rails, now £16 a ton, would rise to £17 10s. a ton, but cost only £10 a ton in America. Ship-plates would rise from £17 15a. to £19, against the American price of £14. Pig-iron would cost £9 a ton-here but only £6 at Pittsburg. The price of coal depended on the output. Allowing for the reduction of the 'miner's working-day to a nominal seven hours, Sir Auckland Geddes hoped for •an output of 216,000,000 tons this year. From this must be deducted 18,000,000 tons used in the collieries and 6,000,000 tons—or six tons a head—given to the miners at a nominal price of 5s. a ton. The cost of raising , the remainder would be £280,000,000. Only 35,000,000 tons would be available for the use of steamers and, for export, and this would bring in £61,250,000. The 157,000,000 tons available for home consumption must- therefore be sold at 28s. at the pithead, instead of 22s., in order to avoid a loss. If the export trade fell away, the price of coal here must be raised.
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