OCR Text |
Show WESTERN MINING GAZETTEER. c.'ifcrn THE FUTURE OF MINING. ffliniurj jasijlfccr, rrnusiii:i) wkkkl y. DEVOTED TO GOLD AND SILVER MINING Adykutibekh will please remember that four issues are ono month. Sliisckiptjon, postage prepaiil: United States and Canada, $.1.00 per annum. I'ayuble in advance. Kemittancks should be made by Post Oflice Order, Dank Draft or llcgistercd Letter, payable to Mark W. Mitsokuyk. Comml'mcations in regard to the mining and milling of ores solicited. Descriptions of new camps specially desired. FINANCIAL SALVATION. For the real good of the mining interest it would bo well if many of the mistakes of the past could not be repeated. It would be better if fair dealing and honest transactions could characterize every transfer, and if notoriously worthless properties were not allowed a place in any market. The common good of all engaged in mining and the many interests depending upon it demands a decided departure from many of the dark and questionable ways of the past. It is not necessary for us to particularize the instances whero the reputation and the prosperity of a locality has been greatly injured, and the tide of immigration and capital turned aside to other less prominent sections, by some unfortunate transactions. There is no doubt in our mind that we are on the eve of a reaction. The tide is at its lowest ebb, and it has already turned again toward the shore. Wo believe that the tide will reach a higher point than ever, but the current will be more gradual, and will never again recede to its present level. Investment will be more cautious with development instead of speculation more prominently in the foreground. Mines will be purchased and worked for the precious metal in them, for production and profit more than hitherto. Operations in many localities will be conducted upon a larger scale with the best appliances and under the most careful management. There will be more mines worked by small corporations of active and practical owners. All of these indications are favorable to the best interests of mining, and tending to place it upon the same substantial and reliable basis that other productive industries are founded upon and successfully these transactions ? It will be urged, no doubt that the cases aro different that the man buying stock is making haste to be rich, whilo the man buying the house is not. There never Both purchasers was a weaker argument. think they have made agood bargain. lie of g proclivities doubtless believes the property worth $11,000 or $12,000, or more. The stock fancier holds the same opinion with regard to his investment, and if either is offered next day a sufficient advance upon his bargain, he sells and pockets the profits. The But our very logical analogy is complete. friends argue further, that lie who buys the house is doing a service to humanity, while lie who buys the stock is actuated only by the merest selfish motiues. Softly ; let us see what this means. I)o the facts justify such an assertion ? In the first place we may as well dismiss from our minds any intention on the part of either individual to benefit humanity. Men buy neither houses nor bank stocks out of a wish to benefit the race. Pure, unadulterated selfishness is the ruling motive, except in so far as either has a desire to benefit his family in the operation. But they do a service to humaniHo who thinks a stock ty notwithstanding. too high or too low, and buys or sells with the view of raising ot depressing the price of that stock, performs just as great a service to humanity as he who places his money in a savings bank, or in a house and lot. Would any of our stocks have stood so high if it had not been for the inlluence of these' same Take any stock for ex. buyers on a margin ample; one which is runningrapibly down under the influence of the bears. Is it not action the of these bears that first rouses the shareholders to the fact that their directors are playing ducks and drakes with their money ? Tells them with trumpet tongues. Says to them wake up; put your shoulders to the wheel, before it be too late? This is the service that the bears render to humanity. And when the shareholders are roused, and by prompt and vigorous action have set their affairs in order, who are the first to proclaim to the world the timeliness of their actions and the efficiency of their exertions? Is it not the 'bulls ? Does the speculator in real estate do as much for humanity? We doubt house-buyin- Manuel labor is in disrepute in this country. American boys arc leaving the farms and workshops of their fathers for the crowded marts of trade, intent on getting a precarious living by their wits. Poverty stricken parents deny themselves ordinary comforts in order to give their graceless, groveling sons a smattering of knowledge, sufficient to muster them into the beggarly crowd of professional supernumeraries. Dainty, adventurers and drones swarm throughout the land, and like the locusts of Egypt, devour the fruits of honest toil. The national life is decaying under the influence of this drv rot of idle and speculative gentility. With vast areas of fertile land and mineral treasures inviting to toil earned homes and fortunes, pretentious but helpless masses of our young men are standing idle in the market places and whining over their hard lot, or crowding the billiard saloons and grogshops and spending their scanty earnings to make their lives as disastrous failures as possible. And yet right here in Utah as in other por- prosecuted. tions of the New West, thousands of educated WINTER MINING. enterprising young men are wanted to open and develop, with pick and shovel, with active The Chicago Mining Review says that 'al- it. brain and cunning hand, the inexhaustable though the season is late for operations of storehouses of useful and precious minerals. white-fingere- d to much extent at the mines, we notice the forWith good principles and habits, with hard mation of many new companies who will offer work and economical living, the mountain stock for sale. You forget that Utah is an excamps of Utah offer magnificent opportunities ception to the rule, for developments can be for obtaining a competence and amassing prosecuted in this large and rich mining rewealth. True manliness and independence are gion with equal facility, both winter and sumfar more likely to be obtained through this mer ; in fact there is really more work done bv mountain life, than under the enervating, de- half in winter than summer, in parts of this influences of moralizing large cities. True, Territory. While the season of active operaour mining camps furnish many examples in tions only lasts a few months in many States the line of Prodigal Sons, but dissipation and and Territories, there is no necessity for an recklessness need not attach inevitably to min- interruption because of bad weather during ing pursuits, Principles that will not stand the entire year. the fiery ordeal of camp life are of little worth. mark the adIndividuality and BUYING ON MARGIN. venturous men who compose the advance guard of that great industrial army whose It must appear clear to everybody that a columns are penetrating the fertile valleys and very large proportion of the transactions upon mountain ranges of the New West. The stal- the stock exchange is carried upon a margin, wart men and money kings of the near future that is to say, that a person having a thousand will be found among the young, educated and dollars to invest, instead of buying that men who from this time on, strike of stock buy3 say ten thousand dollars enterprising out from the dusty highways of common life worth, borrows $9,000 and with his own $1,000 and spurning the slimy temptations of vice, are pays for the stock, giving the stock as security content for a time to endure bard, rough labor and paying interest as may be agreed on for and isolation so that they may unearth the the amount borrowed. Now, in what respect metallic treasures of this teeming continent. this transaction differs from that of a man who Utah offers inducements to thousands of ster- buys a house and lot worth $10,000 and pays ling men with whatever of capital they can only $1,000 on account, it is impossible to concommand, to open up her inexhaustable veins ceive ; and yet the very moralists who liavo and deposits of gold, silver, iron and coal, and pronounced one of these transactions wrong, sec nothing to blame but every thing to comto assist in laying broad and deep the foundamend in the other. Rut docs not the same tions of an American State. hope of gain prompt the individual to both to to1 to to self-relianc- e nt to-da- y ? GOLD IN NEW SOUTH WALES. The correspondent of the Times, writing from Sydney, says: After a long period of dullness in our industry, there are some signs of r revival. A rush has set in to a place called Temora, in the southwest district of the colony. There are already about 10,000 men on the ground, but very little work is being done, because there is a want of water to wash the auriferous dirt. It is impossible, therefore, at present, to say whether this particular spot will turn out to be a productive gold field. The whole district, however, has long been known to be auriferous. Now that there is so large a gathering of men, the area will get mere thoroughly explored, and it is quite possible that some good gutters may be discovered: In all mining operations of this kind there is an'incvitablc waste of labor, because there are no surface indications to show the course of the underground leads. Capitalists do not care to embark in this kind of search, because the result is so uncertain; and therefore, most of our gold fields have been probed by workingmen who do not mind throwing away their labor, because it does not cost them much more than being idle. Longold-minin- don Mining g Journal. We are in receipt of Mark Musgrovcs 1IY.-e- m Mining Gazetteer, published at Salt Lake City, Utah. It is a newsy, reliable mining journal, and just the paper to show up the Mounmining resources of tlio great tain range. Subscribe for it Kooky per only year. rret ( Warren's Mnhq llrviev'. |