Florida Paper - Nickel and Nickel-Steel (see Discussion p. 961)

Up to within a few years, the consumption of nickel has been more directly dependent upon the available supply than that of any of the other useful metals. The Gap mine, in Lancaster county, Pennsylvania,* has been, for the last quarter of a century, the only property in this country furnishing nickel in paying quantities. Its yearly output was about 300,000 pounds of metallic nickel, or nearly half the amount used annually in the United States. Foreign nickel from mines on the New Caledonia islands, in the South Pacific, found entrance into our markets as the production of the Gap mine fell off. The price of nickel was constantly maintained, and no special effort was made to extend its use. Over-production was cautiously guarded against, and all surplus metal was held by the banking-houses of the Rothschilds, who assumed the bonded indebtedness of the Sociètè le Nickel. The opening of the Ontario nickel-mines has, however, brought about a radical change; and nickel from the Sudbury district can be delivered in New York within four days, and in European markets within two weeks, as against two months consumed in transporting South Pacific ores. Former prices have been irretrievably smashed, and European trade-journals comment favorably on the influence which Canadian nickel has had in making lower prices, and breaking the backbone of the " nickel trust." Production and Costs. The quantity of nickel produced and the prices which it commanded may be briefly summarized as follows: The total production of the world from 1840 to 1860 was about 100 to 250 tons yearly of metallic nickel; from 1860 to