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Show MINING AND THE CROAKERS. It is clear that the money powers of the East htve organized a fight all along the line against mining stock purchases. The reason is obvious enough. Bradstreet's explains it. Some $300,000,000 in railroad bonds and stocks have been advertised on the New York , market, and have not been received with favor. Investors In-vestors have been "bucking" at the game for many years, and they are growing a bit wear-. Hence many of them with money are investing in Western mining stocks. For this the bankers receive no commission, and they are disgruntled. Still, the $300,000,000 wanted by the railroads will, if they get it, all have to come from the mines. Queer, is it not, that a class of men who deal in a certain artifle exclusively should want to discount dis-count the source from which all that article comes? Suppose all the world had from the first followed fol-lowed the advice which they are giving, where would their banks have been? They would have been dealing in wampum as did their ancestors in the old days, and men's transactions trans-actions were barter the trading of popcorn for the pelts of animals. But that little dispatch from Nevada yesterday will have more influence on Wall street than a dozen of Henry Clews' learned dissertations. It told of the transfer from the mines of some carloads of ore of the value of $700,000 by express, with an express charge of $8000. And the further fact that Nevada last year gave up more gold than the Rand, despite the want of reduction works and the labor of opening new mines. It is a pity that the names of the owners of that ore could not have been given, and the state of their finances two years ago. That would have helped. There are plenty of failures in mining, but what business is exempt T The Government aimed a mighty blow at silver mining some years ago. It stopped prospecting and closed down every mine that had not rich ore and a full equipment. The crisis was reached in 1S93. BUT ONE RESULT WAS THAT THE UNION PACIFIC PA-CIFIC RAILROAD TOOK OFF THIRTY-FIVE TRAINS FROM ITS ROAD EVERY DAY FOR THIRTY DAYS, and almost every industry between the seas was in a state of collapse. The vital fluid in business was shut off. and there was asphyxia everywhere over the full width of the continent. The warning served by that was. "Don't mon- key with a buzz-saw." About railroads, they are great things, but for them to live, the country must , prosper. Thirteen years ago now. more than half the railroads of the country were in the hands of receivers. re-ceivers. But the crops were good that year. The trouble was, they were not worth enough to pay transportation to market. Wall street had better encourage mining. It is the most legitimate of all industries, for it supplies 1 the one thing that all this world is struggling for. |