n these pineries in 1860 is estimated at twelve hundred
million feet, worth between eight and nine millions of dollars. Most of
this goes to the country west of the Lakes,--to Chicago, to St. Louis,
and even down the river to New Orleans. Since railroads have penetrated
the great prairies and made them habitable, the demand for pine lumber
has greatly increased both for building and fencing; and it has been
estimated, that, if every quarter-section of land in Iowa and Illinois
were surrounded with a "three-board" fence, it would consume every foot
of pine-timber in Michigan.

As to the copper and iron mines of Lake Superior, many dabblers in fancy
stocks are but too well acquainted with them, and many burned fingers
testify against those investments of capital. Still, the amount of
mineral is immense, and the quality of the purest; and these mines will
no doubt pay well, if worked with skill and capital.

Since 1845, one hundred and sixteen copper-mining companies have been
organized in Michigan, under the general law of the State; and the
amount of capital invested in them is estimated at six millions of
dollars. Most of this is lost. On the other hand, the "Cliff" and
"Minnesota" mines have returned over two millions of dollars in
dividends. The latter is said to have paid, in 1858, a dividend of
$300,000 on a paid-up capital of $66,000. Mining is a lottery, and this
brilliant prize cannot conceal the fact that blanks fall to the lot of
by far the more numerous part of the ticket-holders.

The opening of the Sault Canal has very much aided in developing the
resources of the Upper Peninsula. In 1845, the Lake Superior fleet
consisted of three schooners. In 1860, one hundred vessels passed
through the canal, loaded with supplies for the mining country, and
returned with cargoes of copper and iron ore and fish. The copper is
smelted in Detroit, Cleveland, and Boston. In 1859, 3,000 tons were
landed in Detroit, producing from 60 to 70 per cent of ingot copper,
being among the purest ores in the world.

The iron ore of this region is also of extraordinary purity; and for
all purposes where great strength and tenacity are required, it is
unrivalled, as the following table, showing the relative strength, per
square inch, as compared with other kinds of iron, will prove:--

Best Swedish ...... 58.184
English cable...... 59.105
Essex Co., N.Y..... 59.962
Lancaster, Pa...... 58.661
Common English .... 30.000