The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1849-02-05
Louisiana Mining Association.


1t has been already stated that in California,
where the only requisite for the accumulation of
wealth is little physical effort, that con trary to
the usual order of things under the civilized system,
labor has obtained the supremacy and the control
OF capital 1t may be that thus the guide to the
solution OF an important problem may be obtained,
mat Is, the proper association and organization of
capital and labor. The acquisition of California,
and the discovery of its mnes would then be
blessing to mankind The commencement of the
new system of operations which is to be carried
into effect in the gold regions of the Sacramento
Is manifest wherever companies of adventures
have been organized for the purposes of mining.
In most, if not all these companies, we see that
labor and capital have associated themselves to-
gether upon equal termsthe laborer, not as ordin-
arily hiring out his services for stipulated sum
per day, or per week, but contracting for share of
the profits arising from the joint operations of the
company. In fact, it is only in this manner that
the capitalist can derive any advantage from the
direct working of the California mine. In our own
city a company has already been formed, much
upon this principle. We, a few days ago, alluded
to the fact of such company being in contempla-
ton, and stated the regulations which were to
govern its proceedings. We are convinced that if
there be any truth at all in the published reports
from California, those engaged in this enterprise
will secure to themselves the possession of wealth
and Independence. To show that the portion
which may be denominated the practical part la
bors under no comparative disadvantages, we have
only to say, that the thirty shares apportioned to
mechanics have already all been taken. To fill
up the company there remain few vacant shares
open to capitalists who may wish to employ a
thousand dollars in this manner. We have no
doubt that such an amount of capital could not be
more judciously invested, OF with a greater GER
tainty of profitable return Among the capitalists
who are associated in the enterprise, we may men
ton the names of John Leeds, Benjamin Whitney,
NJ. II. Coates and John Armstrong. Among the
mechanics are William Ehu Thompson, Benjamin
Whitney, NJ H. Coates and Francis Hoard, with
many others equally well known to our citizens.
The names of these gentlemen are sure guaran-
tee that the affairs of the company will be well
administered, and could we ever be certain of the
future, we might with propriety assert that ample
success will be to attend their efforts We are
confident that it is only necessary give publicity
to the fact that there yet vacant shares
naming, to ensure their speedy appropriation If
additional inducement could by any posi- bty be
considered necessary by persons DESTROYS of nvesng
their capital in this way, we may stale that those
who furnish the pecuniary resources of the COM
pany, will appoint an agent who will act Trea-
surer. For further particulars, applications can be
made to Mr.. Francis Hoard, at the Louisiana Hotel.
THIRD MUNICIPALITY STEAM FERRY.-We
paid visit yesterday to the new steam ferry boat,
called the Pontchatrain," which has lately COM
menced running between city and AIgiers,
from the Third Municipality, Immediately oppose
the Pontchatran railroad depot, under the superin
tendence of Capt. VIM. Randolph, and found her
to be strong, commodous, and comfortable-pos-
sessing all the requisites necessary for good ferry
She was built in Algiers by Messrs. Hughes,
Valette and Thomas, who have displayed much
judgement in her model, taste and finish. Her
dimensions are-double keel, 100 feet long, 80 feet
beam, 40 inches in diameter, and two engines, hav-
ing Is inch cylinders and feet stroke. She is the
finest ferry boat we have ever seen at our landing.
By reference to our advertising columns, her
charges and hours of running will be seen.