OCR Text |
Show LEGITIMACY OF MINING. We have often maintained that mining might be, and ought to be, as legitimate as any other kind of business carried on by corporations, and that the swindling and gambling connected with it was no more necessary, nor inevitable, in-evitable, than would ordinarily be the case in any pursuit in which there were chances to make quick and large fortunes. Investments in railroads are considered legitimate, and yet the gambling in railway shares immensely exoeedsintha amount involved, and in the dishonesty of the games, in proportion to the capital invested, anything known in cooncotion with mines. The proof of this is found in the everyday transactions on the New York stock exchange. In the London "Mining World" of the 23d nit., we find a very able letter from Air. E. C. Tahourdio, an Englishman, English-man, in which he controverts the common com-mon assertion that swindling is peculiar pecu-liar to miniog. He argues the case bo well and logically, that wo publish tho following extract from his letter ; That mining is as legitimate as any other form oi investments no odc can honestly deny, and that it should be made much more profitable under a judicious and honest management all must admit. A vast change has been made of late in the mode of mining, which has made it more profitable and given it a new impetus. Years ago the hardy and industrioos miner could evolve fortunes from tho ready soil, without the investment of capital, but thst day has passed ; but the time has succeeded when there is do better employment em-ployment for capital than in its application appli-cation to tho development of the metallic me-tallic wealth of this kingdom, especially espec-ially in the county of Cornwall, famous from time immemorial, for its vast resources. Tho difficulty is, that in coDsequcnoo of th success of many mines, unscrupulous parties put worth-Icsc worth-Icsc min.-s upon the market, which aro managed Irauduleutly, to the great detriment of a large and growing in-1 in-1 ) dutry ; but such trauda aro incident to every business, and should not be allowH to influence tho public mind, lb.'- mining industry is now assuming a new phao. That loose manago-l manago-l i'.nt which has added to its risks is I'ottti; corrected, and the timq will come when mines will be managed as , strictly as banks and other companies. i i hi- progress of sc-tcoce, and above ail, Uif improved education of the general body ot mine agcn.d, have produced mo.it successful results. Improved mechanical appliances and ecientitic diTL-ovencs have made losing concerns j remuneratively productive. |