The New York herald., 1846-06-04

here - no uouot tnat the mineral resources are
vast and almost inexhaustible. But the natural
Incidence of the people, the want of sufficient en-
terprise and the internal dssentons that have long
distracted that country, have prevented the mines
from being worked to advantage. Besides This, the
mines mostly exist in the table lands Of the nor
thern departments, and the working Of them re-
quires great deal of time, labor, and expense.
The most enterprising merchants and capitalists
reside in the south, and thus a vast source of
profit is allowed to remain barren and unproft-
able. Aa
Al the time that Cortes landed in Mexico, the
people were well acquainted with the mineral
treasures of the country. The mines of Taco af-
forded silver, lead and tin, and copper was found
In the mountains of Zacotollan. The natives
worked those mines with skill and enterprise
Gold was found in the beds of the mountain tor
rents, in the neghborhood Of Tchuantpec The
use Of iron was unknown to them, and even to
this day the iron mines are not worked to any cx-
tent, although the mountainous districts of nor
thern Mexico abound with iron ore. Instead of
iron the Mexicans, at the time of the conquest,
used a sort Of bronze, compounded oftn and cop
per. The finer tools were made off, mineral call
ed i=ti or obsidian, which was abundant in the
billy country. The department Of San Louis Po-
tosi, and the neighborhood of Guanahuato, were
at that time most famous for gold mines. Quar-
ries of porphyry and of emerald were work
ed extensively, and with their bronze tools. made
of an alloy of tin and copper, they had no difficulty
in cutting the hardest minerals. This is not to be
wondered at, when we consider that the Egyp-
tians Of old were unacquainted with the use of
iron, although they have left many beautiful spe-
of ~
There are very few veins OF gold ore as yet dis
covered in Mexico, althou gh from the quantity
found formerly in the beds OF the streams there
is no doubt that extensive gold mines exist A
few have been discovered in the neighborhood of
the rich valley of Oaxaca, formed by the south
eastern slope Of the Cordilleras. The principal
portion ofthe gold is found in combination with
silver. The ores of Guanahuato afford the larg-
est proportion of gold-three penny-weghts of
gold to one mark of silver The gross produce of
the mines of Mexico from 1880 to l80S is estimat-
ed at 81 35S 452 02O averaging about $l2, ,0OO,O 900
per annum. The highest amount, which was in
the year l796, was $25, ,644, ,566. Since that time
it has averaged about s "a, 100000.
The profits Of the Guanahuato Mines for last Feb
amounted TO about. $3.50 O0
Dolano Mines. ......... ......... ~ ~ ~
~-S~ ~SA
The expenditures of the Pachucar Mines ex-
ceeded the profits.
Tin, lead, iron and copper abo und in vast
quantities under the surface in northern Mexico,
and it requires but enterprise and capital,
and security for property and person, to work
the mines to great advantage.
During the century after the c conquest, gold was
found in abundance in the mines of Tchuantipec
and silver inZacatecas In 1904 there were upwards
OF 5000 mines of all minerals in Mexico, and
many have since been diTovered, In the time
of Cortes, tin was used for money in the province
Of Taco, and it was with great difficulty he could
at first procure sufficient to mix with copper, for
the purpose Of founding cannon. Since that
time, however, it has been found in great abun-
dance. Not one fif6eth Of the mines of Mexico
are worked at present. This is owing partly to
the fluctuations in property caused by the num-
berless revolutions that have occurred within the
last thirty years, and partly to the facs OF tho
monopoly by the Kothsol.i tas vr the quicksilver
mines Of Spain. There is no doubt that at the time
Humboldt visited the country in 1904, the wealth
Of the landed propretors was great and that there
was more than fair prospect of lucrative returns
for mining investments. Accordingly, sort Of
mania seized the English capitalists, similar to the
South Sea mania Mining companies were inn
mediately formed, and the stocks rose to high
premium. The capital OF the English company
that owned the immense mine at Real del Monte
was four hundred thousand pounds sterling. In
1924 this stock attained premium Of fourteen
hundred pounds per share. In two years, the
value of share had sunk from this enormous ad-
vance to an actual discount The shaft of the
IA
that now owns it have, within the last few years,
expended several millions of dollars in its ma
chinery and other requirements. The English in
vestments in Mexican mines are at present very
large. In 1928 they were estimated at twelve
millions sterling. There is no doubt that the
mines at first more expensive than productive,
as they require vast amount Of capital for ma
chinery, &c. but still they must eventually prove
a source Of vast wealth to those who employ their
investments in energetic operations The most
successfully worked gold mine in New Mexico is
that of FL Real de Dolores, or Ell Placer, as it is
more commonly called, situated in a spur Of
mountains, twenty. seven miles from the capital
1t was discovered, accidentally, in 1923 by goat
herd. The entire aggregate yield, since its first
discovery, has exceeded half million of dollars
Besides El Placer, other smaller mines of gold
have been since discovered in the same ledge of
mountains towards the south. Piacrss have also
been discovered in the hills of Abiguikr, Taos,
and other places. For the last century no silver
mines have been in successful operation in New
Mexico. But copper, zinc, and lead are profit
ably worked.
But, notwithstanding the vast mineral wealth of
Mexico, there is no reason to anticipate success
ful returns from mining investments until the
peace of the country is permanently restored. or
late years, English, Spanish, French, and Ameri-
can capitalists have embarked vast fortunes in the
mines OF Mexico, and the stocks of these compa-
MES have been for ever fuctuating. in conse-
quence of the unsteaainess of the domestic af-
fairs OF the country. Mexican capitalists, too,
have lost their large investments in consequence
Of the unsettled state of the country. Every de-
magoguc who could command sufficient money