Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1864-06-06
Washoe, through Beecher's Specta-


Washoe is a great country, beyond all kind
Of doubt; but when it comes to be viewed
through the medium of Henry Ward Beech
er's magnifying Independent, its proportions
are gigantic. Take long breath, and read
the following:
Extremes meet Two weeks ago the excite
ment in this city was intense over the vast amount
of mining stock that ready TO be thrown
upon the market. To-day the caution is as great
as tho courage then was extreme. To-day, min
inc stocks drOop and parties committed 10 mining
schemes pay their subscriptions as an invalid
takes medicine, with averted eye and down-cast
mein; because they cannot help it.
What is the reason of this changei 1t is two
| fold. First, Stock speculatOns and goldgam
| ling were overdone. Mining schemes, were many
of them, inflated to an enormous degree; fictitious
prices were put upon collaborating lodes, and the
excited public heart ran ahead Of the cool public
| Judgment.
Second, All monetary reactions are governed
by the pendulum movement Confidence swings
back, when the reaction comes as far as it swung
ahead when the white heat of excitement was on.
An indiscrimnate recoil from all enterprise of an
experimental kind, as mining must necessarily be,
is the price of over confidence and over action
But no amount of recOil, Of suspicion of neglect,
can alter existing facts There in silver and gold
in Nevada. Three years ago. that virgin Territory
did not export one dollar Of bullion, and in lS63
the export Of bullion from Nctdla alone iods $780,
0NO,O01 During tho last year, Colorado Territory
has imported 1900 tons of merchandise, 10000
head Of cattle, and $1,000 men; and to-day the
States urc indfbtcd 10 her for heI bullion. From
1859 to 1863 Colorado, according TO the assay re-
turns at New York and Philadelphia, gave us
s., J25 633 bullion up to July l. 1862. This yield,
| il must be borne in mind, right on the head
| OF the announcement OF the Pixies Peak failures;
miners were poor and discouraged, working with
hand-mills, small water mills and Indifferent meth.
obs Kcith'S dcsulphcri2er, which saves fifty per
cent. more Of the precious metals by calculating
| the ores was unknown in Colorado sX months
ago. Messrs. Moller and Keith have had this won
; dcrful discOvery-that has given new impulse and
| new hope to all wccOnducted, practical mining
opera,iuRs-iu successful working orderfor nearly
| three months IL is thoroughly believed by prac
teal Miners thar so per cent. of the pure ores can
be saved by this process and that, since July last,
| more gold and silver have been taken from Colo
RADIO than for the full three years previous. This
c0Wd gice the Ret yiela from this infant Territory
! Sl5,G0D000
Now what is the reasonable conclusion of the
whole matter. Are sensible business men 10 be
daily exhortcd by our daily press TO look with
! suspicion upon all mining stOCkst Are miners
| TO make brick without straw; or, To drop the
| figure, are they 10 work single-handed, with i'll.
| different success, for the want of capital, which
| is boarded and idle in our Eastern citicsi Min
ing gold and silver is as essential to civilization,
| science, art. commerce, religion itself. agricu
| ture or mechanic arts. Mining is indeed the base
| of the useful and ornamental arts, and without
| its varied products civilization would be reduced
| to barbariSn.
Let. then, Just and wholesome determinations
| be made. Let bubbles be prickcd and burst
| Let young and small capitalists, who can
not afford to lose anything, keep out of mining
stocks but let not the rich who can risk 81 900,
| 50 900 or $4,000, look upon every mining bro.
,iF,it. ham
| balloon. Bullion is rs necessary 10 strengthen
! the currency and brace up the public heart, as
new blood TO the invalid. Mining is Us necessary
us merchandise: and the organization of mining
| companies rs legitimate rs the organization of
| banks. insurance companies, transportation COM
| panieS or any other kind Of ioiut.stOck enter
| prise of the day. II is simply the application of
| the wonderful principle of association to the de-
vClopment of our vast mineral wealth-Our fields
| Of coal our beds Of copper, iron, silver, gold
and where any mining company, with respon-
| sible board of managers, asks for public cont
dcnce, upon sound basis and paid.in capital,
| it is simply comforting public favor
1t would not do to designate by harsh
names anything which might be said by
Brother Beecher; but most assurcdly to the
individual who wrote the above article, the
"truth is stranger than fiction" by long odds.
In order that the reader may have some rule
whereby to read the independents article to
any purpose, we will state that as thirty mil
lions are to twelve millions, so is the above
article to the facts in the case so far as Ne
vada Territory is concerned. As to the cor
rect rule for Colorado Territory, we leave it
for the papers of that country to prescribe.
The object of the writer may have been very
commcndable, but we are Of the opinion that
an honest regard for the welfare of the public
should have dictated closer approximation
| tn facts