Drumshanbo town originated from the extensive Iron industry around Slieve Anierin from the 17th century. Pig iron produced at Iron smelting works on the east of Slieve Anierin was brought south across Lough Allen to Drumshanbo Finery forge where a malleable iron product was produced and transported to Dublin and Limerick by boat. The first ship built by the East India company in Limerick was supposedly finished with the product from Drumshanbo Iron works. According to folklore the "". Long ago Ireland had been covered in Woodland, a claim echoed in a 19th-century survey of Leitrim- "". These great forests in Leitrim and on the west side of Lough Allen were denuded for the making for Charcoal for Iron works around Slieve Anierin. Immense piles of cleared timber existed at Drumshanbo in 1782.