Note 87 — SECTION XIV. HIGH RATES AND THEIR EFFECT ON TRADE.

The inflated prices charged in 1873-4 led to the establishment of new collieries in Glamorganshire and Monmouthshire, which raise about 6,000,000 tons per annum; this, with the increased output of the then existing collieries, is equal to an increase of about 50 per cent. of the previous tonnage raised in these counties which, with about 30 per cent. increase in other parts of the country, has prevented colliery proprietors obtaining a reasonable profit since 1875, and probably will do so until the demand overtakes the supply.