| Show investment OF HOME CAPITAL in our issue of september under the heading of utah mines lines Ni for utah people i the fol following lewno statement is made while it is universally conceded that little if anything P can be accomplished in the way of developing a prospect to the stages of a profitable mine without the operation cooperation co of capital with labor it is a mooted question i if f the securing of home capital is not preferable and ultimately more advantageous to local enterprises than the engaging of outside or european companies commenting 11 on this paragraph 11 alone and in fact republishing but a fragment of it at that our esteemed contemporary mining alining reporter of denver takes issue with us as follows now that is just where bining mining kining reporter differs with the review we believe that an examination of instances will show that in nearly all the cases of the successful transformation of a prospect into a mine the deed has been done without the aid of capital as that hat term is usually understood and that it is good for the individual and the community that this is this case of course muscle muscle and perseverance per are two forms of capital capita 1 the best forms but the word is usually applied only to accumulate money seeking investment mining reporter wishes to make this point very clear and strong while we welcome the investment of outside capital in mining development and advise it as a rood good thing for the capitalist and not a bad th thing ing r for the miner liner if the money is properly expended yet mines developed into a self sustaining position by the judgment and energy ail and per si stence of t their heir 0 owners co constitute nine ten tenths of the successful properties of the day dav and are in the long run better institutions for or the community in which they exist than properties placed on their feet quickly by an expenditure pend iture of outside money the object of the article in question utah mines for utah people was to show that it would be much better for the interests of our state and of the west for that matter if more home and less foreign capital were invested in the development of utah and western mines that if it is a good thing for eastern investors to engage in the operation of the mines of this intermountain region it is certainly a safe proposition for home people to put their spare cash into we still hold to this theory and are pleased to state that many of our best and most productive mines are monthly making fortunes for residents of salt lake and of the leading towns of the state As for the stand taken by mining IN reporter as to the ability of the common run of claim holders to develop their holdings into producing and paying mines without the aid of capital home or foreign we hold to the belief and opinion that that paper is mistaken and as proof of this belief this opinion we have but to point to our many leading mining camps within the environments of which there are scores yes hundreds of promising prospects held and owned by men of limited means by men who are working Nv for big mining ing 11 companies at day wages which would today be on the producing list but for the fact that capital has been lacking for their development some of these after years of spasmodic development on the part of impecunious owners may develop into paying mines but instances of this character are rare the majority of cases coming under our observation being that capital invariably comps comes to the rescue before a prospect unless of more than ordinary kroml promise se can be developed into a big mine a regular dividend payer paver this being the case we only wish that capital was more willing 11 to operate cooperate co with the prospector with the oft discouraged claim owner with brawn and muscle for the lasting good of the country we much prefer that this assistance should come through the medium of home money and still we gladly welcome the foreign investor and are more than pleased when this element is successful in every mining enterprise in which they may engage the western miner and investor also takes issue with mining reporter on the same proposition and it makes the assertion that in its OP opinion the editor of mining IN 11 reporter cannot call attention to a single I 1 dividend payer in the entire state of california which did not require a great deal of capital to put the prospect pee t on its feet before it reached a dividend paying 1 basis if the contrary were the rule why Is it then that the claim holder is always on the search for someone who will assist him financially in the development of his prospective bonanza we are inclined to the belief that mining reporter is a little ott color in its deductions on this subject and that the majority of mining men and operators will agree with the mining review in support of the stand it has taken in this mutter matter |
