The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-08-12

The mining industry producing the most precious
for the deveiopement o. the public wealth call
the most serious attention every fact connected with
it, existence, prog ress and prosperity.
II supplies the materials for building cities and
structng their monuments the COAL to light their streets
and houses for acceerating the motion of steamboats,,
powerful engines indispensable for modern industry.
II supplies mankind with all the divers metals with
It's products are equally needu as those Of agriculture
and more difficult TO reach; they want to be worked by
the union of greater skill and more considerable capital
In agriculture single man may raise some products;
In mining an assoc alton OF men necessary hence the
necessity OF working mines 10 form companies Conse
quently, when we heard around US, "God deliver US
from mining stock "a sentence so many times uttered OF
ate)from mining stocks, without which would not be
possible TO work mnes-it IS as absurd as TO excam,
"God deliver us from plantations, farms and gardens
Although confess IT, this shows for the min
ing industry situation to which prompt remedies are
necessary 10 make every other species oil industry
the object of legitimate pursusof wise aad prudent in
vestmens Of capital
In this country when the first explorers brought
by the hopes Of discovering precious metas-when
hunting mineral wealth was the object OF numerous aud
bold expeditions against fierce and hostile populaonss
not astonishing how little been done yet for that object
When all the different kinds OF labor which afford leg
remuneration to the activity OF the American pco
pie ressing rapidly 70 astonish the Oldest
nations it not astonishing how the mining industry
with Its chances OF rapid fortunes remains In state OF
nteriory, and raises "a an Investment for capital fears
always increasing Many causes produce this state Of
things.
Because mary mining adventures were the gaining of
immediate and considerable benehts-oecause many for
tunes were made in short tmethese facts have reused
hopes which cannot be always realized and hopes too
sanguine shortly succeeded by encouragement OF
enterprises which would require for success more perse
yerance and energy.
This inconsiderae notion OF obtaining wealth mmedi.
ately in mining enterprise prevents persons making
thorough examination OF the chances OF in such
enterprseof calculating what amount Of capital will be
necessary TO carry it TO a successful end.
The mining science, difficult from the great variety
OF scientific knowledge Involves neglected. and the
number Of competent men being rather Insufficient the
in most cases, 10 embark In the adventure Wi hout
sufficient Information For putting up large building,
they call architects; for constructing railroad, on
civil engineers; but for opening mine, they sink at
dom a shaft they spend large sum in great many
cases &c lind out water less mpd, and then the
disappointed shareholders exclam, God deliver Us
from mining stockS',
If more favorable place has been found, anording
ore which would pay with benefit all the work done Tor
discovery calculation estimate having been made
beforehand about the capita necessary TO the end OF the
enterprise the funds exhausted when the discourage
ment raising, when II becomes more difficult to cal In
salments and good and profitable adventure wound
mp when The success near at hand.
The disappointment OF rapid fortunes Induces, TO
reach the object 10 anxiously hunted for, specr
laiions in stock W place OF waiting the benefits from
the adventure itself; and in place Of working mines,
,bese onrTaon co go.nes are FORMED With oes
capital proprietary with forty any thousand dollars
Is put In stock at Eve hundred and one million OF dol
lars and the value Of the stock fucuates below par In
stead Of raising with the deveopemeni Of the works Of
the mre.
itself from il IL IS overrated by
less exp nscs; the management divided between the
oce located In large city and between the Office at the
name FOR want OF competent men the mining works are
Imperfect and expensive and the dividends the sin
shareholders looking for never come out, and
from every quarter they exclam, God deliver US from
We have here slightly hinted At some OF the causes OF
the OF mining sptcuiatons paper We viii
Of thnrs-how mining may be mace the object perma
neIt and profitable Investments oil capital. l. u.