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16 IRON ORE, COAL. PIG IRON, AND<br />

The heavv decline in the imports of rails from 1873 to 1879<br />

was caused by the panic of 1873 and the business depression<br />

which followed and continued until 1879. The almost complete<br />

cessation of the imports of rails since 1887 is due chiefly to the<br />

cheapening of the prices of domestic rails, which in turn has been<br />

due to the perfecting of facilities for their production and t«> the<br />

cheapening of the cost of raw materials.<br />

Tiiiii/iitr.

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