a mill like this, the expenditure of fuel and labor and the loss by
waste caused by crop ends are reduced to a minimum.


BASIC STEEL.

The enormous production of steel has required the importation of large
quantities of iron ore of pure quality from Spain, Algeria, and
elsewhere, into this country, France, Belgium, Germany, and the United
States; and these supplies have contributed greatly to the reduction
in the price of steel to which I have referred, and what is, perhaps,
of equal importance, they have prevented the great fluctuations of
price which formerly prevailed. In 1869 this trade was in its infancy,
and almost confined to the importation of the Algerian ores of Mokta
el Hadid into France, while in 1882 Bilbao alone exported 3,700,000
tons of hematite ores to various countries to which the exports from
the south of Spain, Algeria, Elba, Greece, and other countries have to
be added. Great Britain alone imported 3,000,000 tons of high class,
including manganiferous iron ores last year.

It is questionable whether the mines of pure iron existing in Europe
would long bear a drain so great and still increasing; but happily the
question no longer presses for an answer, because the problem of
obtaining first-class steel from inferior ores has been solved by the
genius of our colleagues, Mr. Snelus and Messrs. Thomas and Gilchrist,
and by the practical skill and indomitable resolution of Mr. Windsor
Richards. It is no part of the duty of the Institute to assign to each
of these gentlemen his precise share in the development of the basic
process. Whatever those shares may be, I feel sure you will agree with
your council as to the propriety of their having awarded a Bessemer