In the dearth of the article at home, a supply of it was therefore sought for abroad; and both iron and steel came to be imported in largely-increased quantities.

This branch of trade was principally in the hands of the Steelyard Company of Foreign Merchants, established in Upper Thames Street, a little above London Bridge; and they imported large quantities of iron and steel from foreign countries, principally from Sweden, Germany, and Spain.

The best iron came from Spain, though the Spaniards on their part coveted our English made cannons, which were better manufactured than theirs; while the best steel came from Germany and Sweden.[1] Under these circumstances, it was natural that persons interested in the English iron manufacture should turn their attention to some other description of fuel which should serve as a substitute for the prohibited article.

There was known to be an abundance of coal in the northern and midland counties, and it occurred to some speculators more than usually daring, to propose it as a substitute for the charcoal fuel made from wood.

But the same popular prejudice which existed against the use of coal for domestic purposes, prevented its being employed for purposes of manufacture; and they were thought very foolish persons indeed who first promulgated the idea of smelting iron by means of pit-coal.