Show first mineral deposits of utah were reported by spaniards E ean very student of accountancy knows kno a that double entry bookkeeping on an alch which all accounting Is based came from the discover les of a spanish student in the middle ages but not every aery stu dent knows knotts v what hat many leaders in banking and finance have learned i that spain has much toward towar d the financial growth of america Sp Spi liis ains intellectuals I 1 forming huge caravans and entering this territory from mexico developed such thoroughfares as gl paso del norte the pas to the north and tile the great broad roads which endured through the centuries into the vast mineral deposits of the 31 mountains 0 u n t it I 1 n S when the cormons mormons Mor mons ions penetrated under the whip of persecution to tile the wills wilds of utah they found a rich heritage of discovery awaiting them spaniards had be been ell there before them much footwork and much spadework remained to be i done but the bral brainwork had been well started by b some of the finest brain power the world then possessed ed namely the intellectuals and clericals of old spain in ili proportion as american in was vas able to follow up the exploratory work of a these early dons dolls america may enjoy the wealth which Is the fruits of their studies in proportion as the shortsighted and ignorant among us refuse to credit the reports aud and findings of the early spaniards in y our rich ilch west are arc we to lose the vast treasures which today remain 1 burled it thus thug follows that our best minds recognize and accept the challenge which early spain loft left for modern america find and search out the mineral deposits they discovered and reported A notable example Is the marys yale mile district of southern utah spaniards panl aids penetrated here in the seventeen hundreds found rich gold ore deposits and reported them liem made their discoveries a part of the permanent records of the land later when ft hen the days of 1849 symbolized Call california forn lit to so many thoughtless prospectors tile the careful Span spaniards lards of that day remembered what their compatori compatri ot of till nn earlier generation had found find drifted eastward from tile the pacific to the southern tic tier of utah A section of that district Is I 1 knowli n ns its california gulch because of them in california gulch the remarkable actie atles of the rain bo and other properties are now attracting wide attention mining filing operators throughout the entire region are watching the reports because this outfit well nell manned well veil and well nell equipped Is regarded us as it a touchstone to tile the entire underlying linder lying structure prospect shafts have sunk and tunnels have been driven to proto tile the L extent of tile the mineral nation atlon ly and a permanent plan pla n of develop development mapped out is centered lit in a deep transportation tunnel which Is being driven from one of the lowest points on the property to explore the entire area at depth when the mineral zone yone Is reached by this tunnel tunnels 1 continued on last page I 1 spaniards reported first mineral deposits dep continued from page one drifts will be sent out la several directions to furnish a complete picture of the mine minerals rala at that depth mid and a will be sent downward from the tunnel level to explore the probable prolific wealth in the underlying sedimentary beds the importance of this district la Is shown by bi the reports of the director of the U S mint in the year yen r 1882 when large numbers of prospectors were attracted there from the east and south railroads were then miles distant a formidable obstacle in those days of trails pack animals and without anto native transportation today railroads penetrate to within six si miles of the mine and automobile trucks furnish rapid and economical transportation of ore from mine 1 I ine to railroad U under noler the present mana management gemeni and ownership of gold mines corporation modern mining equipment has been installed and modern transportation will be provided to handle shipments of ore and advantage will be taken of the latest metallurgical processes so that lower grade ore deposits which would have been discarded as useless a few decades ago can now be profitably handled enhancing lian cing this advantage Is the increase in the price of gold from 2007 an ounce to 35 an ounce and the possible further increase as recovery progresses with almost all the world except america and holland off the gold standard and anxious to return to it gold will for years be a commodity which every nation hungrily seeks its price cannot conceivably decline may be considerably and repeatedly peat edly enhanced the discovery of the remains remain of an old spanish adjacent to the property tends to confirm the opinion that the spanish visited the immediate vicinity find and carried on surface work in their quest tor for gold on what chatis Is now the balobo Rat ilbo property the Is one of the earliest forms of gold recovery equipment and could be constructed from rocks and other materials found where operation was carried on this equipment though crude was the most advanced of its time used for the recovery of gold from ores at the property over feet of prospect tunnels give evidence ev I 1 d once of the thoroughness of the work in ili mapping out a campaign of permanent development of the property with the date and geological information gained in this prospecting work they have centered the work in di driving living the transportation tunnel into the mountain from a site situated on it point on oil the lowest part of the property tills this tunnel will serve as a permanent avenue through which the development of the antiro entire property can call be carried out and will furnish gravity haulage tor for all ore this tunnel will crosscut the formation in fi 1 l the intervening area and should ii ouia cut cu t other or ore bearing veins as it Is driven toward its main objective jec tive the downward extension of the ore which has been opened in ili the various prospecting tunnels which have opened the ore zone higher on the mountain in 1933 utah produced in ili mineral wealth wealthy leading california idaho arizona colorado and nevada in the order named in the past 60 years production has exceeded one billion dollars being chiefly an agri cultural state capital for most 0 of this tremendous yield has come from easterners who have carefully studied the states mineral wealth future capitalization must come from the sane source but the faith of eastern easte rii capitalists Is greatly enhanced weil because of sustained production record and tho the present favorable gold markets southern bouthern utah etab news and views |