IC 6682 The Present Status of the Mineral Industry

The settlers of a new country necessarily suffer at first from the lack of accumulated stocks of metals - in-use that are possessed in older countries . Our American colonists were at first compelled to import their metals in manufactured forms , and it must have proved difficult to produce an exportable surplus of commodities with which to pay for them . These circumstances stimulated a search for domestic ore deposits . Various discoveries resulted , so that as early as 1628 , we find the colonists importing two craftsmen from England to establish iron -works in Massachusetts to beneficiate local ores . In 1648 , an iron -works at Lynn was producing metal at an annual rate of 400 tons . Later on , the colonial iron industries became of importance , some metal being actually exported to England . The people of this country thus early became convinced of the necessity for domestic mineral production . It is now little realized how persistent were their efforts to - make mineral discoveries , before the gold- rush to California ; the extraordinary success of our subsequent mineral explorations has overshadowed the earlier record . Precise and complete accounting of our mineral production , having the character of national bookkeeping , is available only for the series of years beginning with 1880 , when commences the official record that is provided by the Government publication called Mineral Resources of the United States . In the period of 52 years , from 1880 through 1932 , the value of mineral production of the United States amounted to more than 122 billion dollars . Only 12 billions of this total were produced in the 21 years , 1880-1900 , while nearly 110 billions were produced in the first 31 years of the present century . Of this 110 billions , over 53 billions were produced in the most recent decade , 1921- 1930 , the production of the previous decade , 1911-1920 , having been only 37 billions , though it included the war period ; that of the decade 1901-1910 was 16 billions . In 1931 , the total value of mineral products of the United States was $ 3,180,000,000 , compared with an average annual value of $ 5,556,000,000 during the previous five - year period , 1926-1930 . The decline in 1931 from that average was therefore 43 per cent . As to the three great groups of mineral commodities , metals fared worst , with a decline of 55 per cent in the value of their production , while the value of fuels declined 39 per cent , as did that of the nonmetals group .