New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-04-22
OUR MINERAL WEALTH.

Superior to the southern limits of North
America.
1t is scarcely three years since the first dis
coveres of Gold were made in Colorado, and in
that short time the enterprise and capital OF the
North have been directed to such an extent to
that Territory that during the year 1863 the
quantity of Gold produced amounted to over
twenty millions of dollars and, if science is not
at fault, this is but 1.-THE Of what may be ex-
pected when the improved appliances and ma
chincry for mining and separating the precious
metals are brought into practical use.
The pioneers in Colorado were men without
either means or experience, and their product Of
actual gold was quite insignificant as compared
with the results of even the crude machinery
which has up to the present time been erected
there; but now, notwithstanding the heavy ex-
pense of transportation across the plains-aver-
aging ten cents per pound-it is stated that over
5000 tuns of machinery, costing some $1,000
900, are on the way to this Territory and under
contract; and as the fact has been demonstrated
that the ores are inexhaustibe in quantity, and
far exceed in richness Of yield those of Cali
fornia, it is not extrayagant to estimate the re-
turns this year at double those of last or that fu
ture years will show an increase in the same
ratio, until within a comparatively BRIEF space
Of time-evcn though the war should continue,
and the national debt be doubled-we shall
have from this source alone the means of liqui-
datiOn.
The Development of Gold in these far-of re-
giOns has discovered the existence also OF i'm
mense deposits of Copper, Lead, Iron, and
Coal; all which, though not yet worked, prom
ise to contribute their quota to the future wealth
of the great Western States and of the whole
country. Thus far, the Mines of Colorado have
been explored to depth Of only about three
| hundred feet and the net product averages
about 800 to the cord Of eight tuns of Quartz;
while in some cases, where proper machinery
! has been used, the yield is as high as $4,000
and even $1,000 in Gold per cord.
In the more distant Territory of Idaho, Gold
has also been discovered in great quantities and
of equal richness. But the proximity of hostile
tribes Of Indians may somewhat delay the rapid
development Of its mines
| Following the chain Of mountains south, we
find the great deposits of Silver, Copper, and
Gold, in Arizona and New Mexico; and continu-
! ing the same line until We strike the Pacific
Ocean in the Mexican States Of Guerrero,
| MchOacan, and Coma, we trace the same
mineral deposits and in the same exhauStless
quantity.
The delightful climate of Mexico, and the
great facility with which ores may be mined in
that country, have attracted the attention Of
many of our leading capitalists and already
some of the principal Silver, Copper, Iron, and
Coal mines Of Western Mexico are being
worked by New-York Companies. Already,
one Copper.smelting establishment is IN
operation on the Pacific coast; and in few
years we may expect that the expensive process
of freighting the ores to England and the Allan
tic States for smelling will be done away with,
at least for the amount of Copper used in China
and the East Indies.
The Coal deposits of California and Mexico
are being extensively worked also, with the
promise within five years Of supplying the vast
! Embarrassing demand for the Pacific, and reduc-
ing the price of this most necessary article the
world over.
Such are the sober facts rs 10 the mineral
resources of the great West. They may
Justify and call for the investment Of cap
ital by and by, and on the certain re-
turns we may confidently rely to help Us
out of the enormous debt which the Rebellion
is heaping up against us. In the development
of these resources, wild and unboundcd specuia-
tons are perhaps inevitable: unprincipled men, |
with more brass than gold, will trade upon the
easy credulity of those who haste to grow rich;
rogues will be plentiful and will not want for
dupes. The crop of precious metals will never
theless be gathered; but it Will come from hard
labor and judicious investment, and not other
wise. Such labor and such investments should /,
and will be made; but those who have neither
will, if they are wise, keep ont of the vortex OF
excitement and speculation; for nothing comes
of nothing, just as certainly in god-mining as
in any other department Of human industry.
But we need first to put down the Rebellion
before we permit ourselves TO be carried away
with any excitement, even if it be in the legi-
innate development of new and promising re-
sources. We would rather see capital placed in
Government securities, that thereby the country
may be helped TO weather the storm il is now
struggling against, than that it should seek new
investments, the returns from which must be