Show MINING INDUSTRY IS I BUSINESS BUSINESS' SALVATION SAt V ATtON No Other Othel Interest Pays So Well Wellon on Investment Says Manufacturer ADVANCE OF GOLD OUTPUT Quickening of Business Due to Tremendous Energy of Miners 1 I II I I I I I I t President William L. L orthe of or the Ingersoll Hand com company pan In an in interview in in- for the Boston Financial News spoke as follows on tho the gold mining Industry try The gold mining interest is if establishing estah- estah lishing new high records of or production at low Jow costs of operation The rhe numerous numerous nu nu- remarkable Inventions dl dis discoveries dis- dis and Improvements In mining that have hae marked recent years ears enable gold mine operators operator to extract more gold old per por ton Ion of ore oro and at considerably lower costs than was the case caso a few years cars n ago o. o These Inventions and discoveries discoveries dis dis- dis- dis and tho the man many Improvements in the administration of mines have practically added billions of or dollars to the estimated valuations of or our om mines of the various metals Gold silver cr an and copper COPIer ores which a few ye years rs ago were regarded as not worth working working work work- ing are now itow eagerly sou sought ht for or b by the refining interests Mining is somewhat like farming in iii that it is 11 a a. business s that can always flail find quick cash markets for its pro pro- pro pro- ducts The mining interests of or this country liars have saved srn-cd all an o 01 or u us from what looked like a n Jon long period o of commercial com corn mercial depression as the most sagacious sa sa- sa- sa financiers saw the tho business busine s prospect last year yeal Our gold production ion tion hus has exerted a most powerful ener energy In the the- uplift of oC the industries of the whole country Growth Grouth of Gold Production The TIle gold production In t the le United States for Cor this year yeni car will go so we well above ho tho mark A few fo years als ago the best Informed gold miners did dill not consider It within reason to predict an n output of or that amount before InS 1915 the enormous ex expansion expansion ox- ox in the worlds world's production of or gold there is an ever growing gowIng d demand mand mandor for or it it and antI the price year after year Is steady at the tho value alno o of a fraction more than 20 per fine ounce The constant Increase In Jol gold production is merely a matter of or development Within a short time timo I was with a apart party part of engineers eng and manufacturers ers who visited a number of gold mines We c saw at one camp gold old oro ore in sight to the tho value of At other camps in that region we saw almost as large visible supplies The Tho quickening of or business which is the theland theland theland happily going g on throughout land is in great t part due to o tho the re results results re- re suits from the tho tremendous energies of oC our mine operators who J kept right on m n developing and marketing products despite tho the stormy storm financial sl skies ics of oC hist year eal Those men who kept right righton on adding enormously to the tho resources of or th tho o country cO d demonstrated practical patriotism that everybody ought to ap ap- ap- ap e. e l Leave o SU Silver SU r for Tor Gold Our SOur rapid advance III Ingold gold output began in 1892 There was a temporary ary at 11 setback from 1901 till tin 1901 1904 when the increase of or gold old production was more than the tho previous pre year rear When hen silver mining was hard hit a a. few fe cw years ears ago croal croakers ers said that the tho silver sliver interest was waa almost de tie- But the silver mine operators ors were made mado of or sterling metal They Ther went vent right ahead and engaged in Iii gold and copper mining In the case of or Colorado where years cars ago the silve silver I Interest was far and away awny tho the largest the lie transfer of energies to gold has made her hel gold old worth much more than titan I her silver mining mining- interest Silver er mining min mm- ing has a great future Tho The great leat silver using countries are mal making ln forward for fot ward strides In population an and increase in- in crease of the time purchasing power of ul units of oC population The expansion of gold production is helping the tho silver copper lead Iron hon and other mining Industries Industries and and In fact Is stimulating the tho iner increase ase ae of oC the material well wen bein of or people In all lands Our gold mines mines' ever increasing ing Ing- production is a powerful factor actor In placing us high for credit In foreign monc money markets Increasing gold production pro pro- has hns forever laid to rest that thU vexatious question which under various va vii- l rious guises pledged us for years cars un under un- un tier der the common name namo of or tho the two tv-o metals currency question But nut for our great showing showing- as owners and operators operator or ors oro of ot g gold ld mines we could not have ha gone ahead and adopted the tho gold standard which helped us in the borrowing borrowing borrowing bor bor- rowing of or tho the immense amounts of ot money abroad that have been put ut to profitable use in developing resources that arc alC worth billions to lo us Mexico a great silver sliver producing country countr adopted the tho gold standard chiefly to lo advance her credit abroad Th That t O ob object oh- oh was vas accomplished In iii such volume as asto to to place her hel far forward in the rank of nations that are highly prosper prosper- 0 ous us Mining nn an Exact Science It tt Is remarkable able that in a like liko New ew York which Is most I largely engaged in ordinary ordinal merchandising merchandising I dising at very small profits there thero are areso areso areso so many ninny men who regard mining as ac a n speculative business Mining is an exact science devoted to strictly commercial commercial com com- mercial ends and It is lJ by far the most moat profitable business In the world Speculation Speculation Spec Spec- is a vcr very small factor In min mm- lag ing No ro other interest has p paid ld or ori i IH likely to PU pay so 50 welt well upon the tho capital capi Pu tal invested as WI lc legitimate mining Compare Compare Com Corn pare the results from investments in railroads for man many years ears with the annals annals an an- nals ails of ot sound Hound mining and it Is easy to toeo see eo that railroading in comparison with mining ma may be bo termed a speculative speculative laUe pursuit whereas mining has hag made a record that places It among tho steadiest t payers dividend-payers known In ln modern times limes Mining Is on the Cof C eve of a great forward movement of mine em Improvement nt So far Car as I know there is not lIkel likely to be a setback In tho the re recent re- re Colt cent improvement In the market marlet for Cor mining machinery |