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Show MINING SECURITIES. 'i hi hat cumber cf the Wall street "Journal" copies a letter written by a correspondent of the London "Times," that severely criticizes the unscrupulous conduct of Pacific Coast mining speculators specu-lators in placing properties in the English market. With many of the statements contaiuctl in the letter we concur, but we dissent fiom its general view, that all mining speculations are swindles, and that tho swindlers who concoct and negotiate them arc exclusively exclu-sively Pacific coasters. Besides a laro number of purely speculative mining properties, the ! owners of which never ? reamed of W'rkini? them, there aro many mines j of arat value, and that arc well wor- thy the nitcciiou of home or foreign. ' capiuiUls ; and if their condition and ; pro.-pcets wcro UirJy and honestly in- j Tesliyatcd, would command invest- . men?. Tho very fact that an immense j number of worthless mines arc stocked j nud su'J in tho money exchanges of j this country and Europe, is conclusive I proof that tho profits of many mines , arc exorbitantly largo. Swindlers do not essny to play their little, or Dig, games, by allying themselves with a class of Eshcmcs that are wholly without with-out merit. They carefully calculate tho business that are most profitable, and upon these they barnacle themselves ; and this is why so many of them become be-come miners. The "Times" correspondent, who is evidently a mining engineer, intimates that the persons who professionally further tuioiog swindles arc men without with-out character or ability. The first indictment wo admit; tho latter wo deny, lie bewails tho want of Ecien-tifie Ecien-tifie knowledgo, aDd deprecates investments invest-ments made upon tho representations of practical miners who lack this essential qualification. Now as far as our experience goes, practical miners, but little versed in tho theory of the business, aro generally more honest than thoroughbred scientists. We have never known a huge mining swindlo to bo perpetrated, that was not engineered by some scientist of ability and reputation. These qualities are sought and paid for to cover the intended wrong. We recognize fully the importance of scientific knowledge in connection with mining in all its branches, and hope to see greater facilities for acquiring such knowledge, provided in our schools and colleges. We respect scientific attainments ; and regret to acknowledge, as respects miuing, that qualification so often lacks charaoter. |
