Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1864-12-19
THE PRESENT SYSTEM OF MIN
ING.

We are the proud and happy owners of
several thousand "feet," real, or imagi-
nary, or perhaps both; the precise locality
of which we never knew, and if we never
find out, shall probably not be much
loser. The cat of which we are proprietor
Is so excessively wild that we have never
been called upon to feed it, and we eonse-
quently have no intimate, personal knowl-
edge Of the precise workings of the pres
ent system by which mining affairs are
conducted. Upon one point we can
speak feelingly, and that is that there are
several hundred mining corporations in
this State that don't pay their printing
bills. Whether this is the fault of the
system" or not we don't know. If it
is we 60 for an amendment of the system.
Under the commercial department Of the
San Francisco Flag, of last Wednesday;
We find the following article which reads
as though the writer knew what he was
talking about, whether he does or not.
We viii take it for granted that he does,
and quote his remarks for the benefit of
whom it may concern: .,...
With reference to our remarks yesterday,
on the evils of the present system Of mining
rs calculated not merely to deteriorate the
property Of shareholders, but to impair the
confidence or parties who might otherwise be-
come such, il may possibly be objected to as
that we point out blot but suggest no means
20 cover it. Various plans have, however,
been discussed, but none as yet with any
prospect of general assent. There Is hardly
any interest so intractable as the mining
interest; the parties refuse on all occasions
to fuse into u whole. The question to be
solved is, how are We to get rid Of our hun
dred or two Secretaries, and about 800 min
ing Trustees? In simple commercial mat
tiers, nothing would be easier; 1t is not even
attempted in mining. One plan we have
heard mentioned, which would work admir-
ABLY for the public, If il could be carried out
lint there's the rub II is to extend the
functions of the Board of Brokers, so that
thew shall be empowered to form Mining
Bureau, two Of their number signing certi6- |
Gates, with all proper checks and audits;
others to receive and pass statements Of &C
counts from the mines, and TO provide means; |
in a word, to centralize the present huge, dis
iointed and incapable mass Of conflicting |
companies, Earring claims, and legal devils |
dust in general. A few good miners and |
metalurgists-men who know their business, |
and can DO it-should be on hand and advise |
the authorities how to develop the property !
under their charge. Stockholders may then |
sleep in peace; for no men suffer more by |
tricLery and bad management than brokers, |
for together they destroy the property the |
brokers deal in, and ruin their Clients at the
same time. Could any scheme of this nature
be fairly carried out it would save the country
millions Of waste and fraud. But we fear the
time Is not yet. To form any idea Of this
waste, and see how much money men Of all
grades, occupations and positions have con-
tributed to the sustenanee Of the state idol,
It is only necessary to- look over the adyer-
tised list Of delinquent assessme-:s. And
vet the men, the greater pzT. Of whom have
in reality no surplus cash, a12 are venturing
capital, do not dream OF uniting in demand
for sounder method OF managing their prop
erty. So it happens, and 20 only here, but
elsewhere, that mining so -s-sly enrictes its
yotaries. Practices are tole-2sed IN mining
that would be secuted in any other undertake
ing. Is it because men who aspire to become
rich in the turn o. market, ilncy they can
not complain il the market goes against
them: No more they can. B.: It is not the
market that upsats their c1lculatie,s so much
as they who prepare and adjust and control
the property destirsd for that market, ma
nipulate the stock, square the accounts, and,
in q word, suck the orange dry, and resent
the rind to long suffering shareholde-s.