OCR Text |
Show INTER-MOUNTAI. MINING REVIEW. N many of them, and they ; all profess devotion to the silver cause, arc willing fllMntng IReview. to fight silvers foes with the only effective weapon, the weapon, that Wall Devoted to the Mining and Smelting Interests of street does not hesitate to use? Among West the whole 341 there are just seven who the carry accounts with the Mercantile NaPUBLISHED WEEKLY BY tional. All the others prefer to C. T. HARTE. strengthen the hands of those who Room 223 Atlas Block. 3nterfBoimtatn Inter-Monnta- . in crucified the great industry of the West. Not one banker in the terms: One Year silver-produci- (Payable in Advance.) Six Months Three Months To England, Mexico and Canada, postage prepaid. $2.00 9 50 S3 per year, Entered at the Salt Lake City Postoffice as matter. s second-clas- Salt Lake City, January A WILD-CA- T 11, 1896 NlQHTnARE. With all due respect to several worthy members of this community, the Review believes a wholly unnecessary hue and cry is being raised against wild-cmining schemes and worthA prospect is not less prospects. worthless, as many people seem to think, simply by reason of being a prospect. All great producers have been only prospects at one stage of their existence, and without prospects we would have no mines. The apparent tendency to decry undeveloped properties is unjustified and will do the country no good. A company that is organized for the purpose of developing a prospect, and that gives out an honest statement of its purpose and of the condition of the property, is en- -' gaged in just as lawful and laudable at an undertaking as any mercantile in- corporation. It is only when such company undertakes to sell its stock upon the misrepresentation that it owns a rich, developed mine, that it becomes a wild-cswindle. In nine cases out of ten the illegitimate mining projects are conceived and executed by a set of Eastern adventurers and sharps. Western people rarely descend to this form of fraud, and in this region there are fewer such swindles than in any other mining section. East-er- n people who are bitten by the wildcats woud be easy game for any bunko sharps, for many avenues of reliable information are open to them. The Review would deplore the inauguration of a wild-cregime, but so long as people retain their senses there is no danger of such a calamity. Such a regime is certainly not upon us now'; neither is it threatened, and the affected alarm of some people is not only imprudent, but it is absoutely States and Territories of Idaho, Montana,' Nevada, Wyoming, New Mexico and Arizona does business with Mr. St. John. Among Colorados 147 there are six who stand by silver's friend, while of Utahs thirty-onthe First National of Park City is the only one to show its faith by its works. It has just changed its account to the Mercantile National, and to its credit it may be said that its chief reason for doing so was the desire to recognize in substantial manner the efforts of Mr. St. John in behalf of silver. The Western bankers cannot plead that the Mercantile National is not a safe institution, for it is recognized as one of the strongest in New York. They surely cannot lay claim to conscientious scruples against the boycott, for this would be no boycott, and even if it were, when have New York bankers hesitated to boycott the West? Should those bankers who profess to be such steadfast friends of free coinage concentrate their business with the Mercantile National that institution would become the strongest bank in the United States, a faithful friend of the West wouid be rewarded and the enemies of silver given a thrust in the only vulnerable point. Why dont the Western bankers do it? e, DUBOISS QUEER BILL. at inter-mounta- in at silly. SINCERITY OF THE BANKS. Mr. St. John, president of the Mer- cantile National bank of New York City, is about the only friend of silver among all the bankers of that great center of wealth. All the others are enlisted in the crusade against free coinage, and they are not at all scrupulous in the methods they pursue. How many of the bankers of the States and Territories are standing by tlielr friend? IIow silver-produci- ng 341 ng 8 ores shall be sampled at ports of entry throught which lead ores are not imported, two sampling works to be erected on the northern border, where the importations are insignificant, and but one upon the Southern line, across which the bulk of the imports come. Even should the bill pass, which it will not, it would be wholly inadequate to meet the situation, and Senator Dubois is certainly aware of that fact. Any measure, in order to effectually prevent the frauds now practiced, must make It mandatory upon the Secretary to adopt the same methods at the principal ports of entry as are in use in commercial dealings. Senator Duboiss bill looks very much like an attempt to Increase his political strength in Northern Idaho According to the Mint Director, the production for 1895 increased $6,500,000, and the silver output decreased three million. The increase in gold was 1G per cent, and this ratio of gain Is likely to be exceeded during the present year. The Engineering and Mining Journal claims the production of silver in the United States from gold domestic ore was 41,238,764 fine ounces, as compared with 49,846,875 ounces In 1894. The production therefore declined 7,608,111 ounces, though the price advanced from dn average of 63 cents in 1894 to 65.3 cents per ounce in 1895. One mining camp complains that the Review gives Mercur more prominence than any other district. This is true, but it is perfectly willing to give the same prominence and space to any other district upon the same terms at which the enterprising business men. of Mercur City have secured the first page of the Review. Mercur City has great resources to advertise and proposes to keep herself before the public. Senator Dubois of Idaho has introThe Mining Review hot only goes duced a bill which should be entitled into every section of the United States, A bill for the relief of Northern Idaho but reaches Canada, England, Gerand to promote the of Fred many and South Africa. Now that T. Dubois As a matter of fact, it Statehood has removed the restrictions purports to be a measure to inforce upon foreign investments in Utah honest methods in the sampling of mines, European investors will be Inimported lead ores. In substance it terested in this region. authorizes the Secretary of the TreasSenator Wolcott, who has just reury to erect sampling works at Bonner's Ferry, Ida., Northport, Wash., turned from Europe, reports a strong and El Paso, Tex., and at such other and increasing sentiment in favor of prosports as, in his judgment, the interests bimetalism, but neverthelessnotthefavorof the revenue demand. Neither the pect for any action is as the banking element and the present Secretary nor any of his re- able, effort cent predecessors has believed that the goldite press are expending much in behalf of the single standard. interests of the revenue demanded any sampling whatever, and it is cerThe listing of Utah mining stocks on tain that under Duboiss bill no works new Mining Exchange Is cerwould be erected except at ports spe- Chicagos tain to awaken interest in a region directed. show Late statistics cifically containing such rich producers as will that less than four million pounds of represent the new State. The exchange lead ores cross the entire Northwestern will be opened on the 21st. border, while that amount is imported The Review publishes elsewhere in by San Francisco alone. Yet this bill proposes to erect sampling works at this issue an excellent map of the Boise Bonners Ferry and Northport, and gold belt. The rich discoveries in provides no protection for Nogales, which are attracting wide attention million pounds were outside of the State. It is another of where thirty-on- e fields that are received, or for Corpus Christi, import- those millions, or for Siluria, now being brought to the front by the ing thirty-eigmillions. gold mining revival and seems to offer Tex., importing sixty-seve- n Int other words, the bill directs that the fine opportunities for investment. re-electi- on long-neglect- ed ht |