Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1864-10-05
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Minor Matters.

The major portion Of this community are
miners, or so closely identified in interest
with the success Of the mines, that we might
Justly call them SO; and by our mines are
we Judged abroad, and we gauge our we'll
doing at home. 1t is great misfortune to
California that people ever got into the way
Of thinking that there were but two objects
Of interest in the financial world-the Gould
and Curry and the Ophir mines They were
the standard BY which everything was mea-
Sured, and BY which all mines we're bought
and sold. When man came to town with
his specimens in his pocket, he never told
by comparison, and the highest recommend
alton, in his estimation, was that it was
fac stmiIe Of Gould and Curry. Ophir, in
palmy (Palmer) days, was the great gun, and
all other mines in the vicinity were tile off,
shoots, and the owners claimed that every
claim in the vicinity was quite equal to it.
People swure by Gould and Curry when the
Ophir declined, and pinned their faith in all
mines upon that. The stock was eagerly
sought for rs an investment from which
there would be perpetual dividend; twas
purchased by Eastern capitalists and men OF
small means with avidity, and ran up TO q
fabulous price. There was no end to the
rich deposit that day after day, and month
after month, were extracted, giving business
to twenty or more mills, running night and
day, and turning out good results. But the
expenses were enormous, and absorbed near
ly rs per cent. of the earning; and on the
common principle that everything must have
an end, the great body of pay ore suddenly
diminished. Then came panic in the stock
market, and the price fell, involved in its
fall the ruin Of men of small means and gave
terrible setback to larger owners. Fall
ing, it carried all other mines with il and in
the brief period of thirty days, mining stocks
became drug in the market, and almost
valueless. They wore no longer considered
safe collaterals upon which to advance mo-
ney, and were forced off, to realize, TO meet
obligations falling due, until scarce twenty
cents on the dollar netted the unfortunate
owners. This crash in Gould and Curry and
Ophir has impaired confidence in our mines
to an extent that is hardly yet realized, and
checked the flow Of capital from abroad that
was adding so much to our prosperity. II
will take us long time to recover from the
unfortunate effect upon our mining interests;
but the lesson we have learned may prove
ultimately benefit. It is true that we never
again shall see any mining stock 60 to the
high price Of Gould and Curry few months
since. 1t never should haved reached such
fgures-never was worth the money. We
see it now; and we also have learned some
thing of the rock upon which we split. We
have learned, too, that almost any good
mine may be ruined by extravagant and
reckless management; and hereafter let US
look closely TO the expenses, and be more
prudent in the working Of the ores. We
must begin again, and with the experience
of the past before US, there is no reason why
we may not regain the confidence of foreign
capitalists, and see again the tide. Of capital
setting to our shores, where--when judicious-
ly and prudently inyested-it may be made
to pay better return than in any other part
of the globe. Gould and Curry may turn up
trumps yet; but should il not, there are are
plenty Of good mines left, and hundreds un:
developed that, mith the aid of capital, wiii
yield their golden harvest for the prudent to
reap. We are recovering from the SHOCK
and there is a happy day coming for ALL
Californian. 2'ia'.' ".aa~ .,