Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1864-06-08
N,,;r, &c ua,;..,, md their Results.

The Boston Commercial Bulletin has an
article devoted to the mania for mining spec
ulation now raging in the East IN when II
gives the names, location of offices, and
names of the Secretaries of 224 mining COM
panies having their Offices in that city
These companies are classed as follows: Lake
Superior Copper mines, 81; Canada do /. ;
copper companies located elsewhere, 10; gold
mining companies, (mostly located in Colo
RADIO Territory 40; lead companies, 10;
plumbago do, 3; anthony do, 2; iron do,
! /: mineral land and mining do, S; coal do,
Sc. No silver mining companies are men,
toned at all, and the list is evidently very in
complete; but is sufficiently large to show
that the business has been carried on to an
enormous extent. There, as here, lull in
the excitement has taken place, and the in
quiry is raised, "Where is all this to end :"
The Bulletin remarks on this subject:
That there is many a bogus company on the
market, and that many deluded individual hugs
a fortune TO his breast-a fortune which will
prove sad misfortune to hin-cannot be by any
means doubted. All the series of mining excite.
people mad for shares have produced identical
results-a great crop of WORTHLESS concerns which
schemers have built upon the real leaYen in the
mass, strengthening OF the really good pre-eSiSI.
ing companies and the creation of q number
more of solid, lucrative corporations, which have
left their mark upon the country at large, rs well
as upon the region of their locations The strong
succeed, the weak disappear like mythS-they
are exhaled by the golden beams of rising tinan.
cial sunshine, and sink into obScurity as the gol-
den sun fades out, only the stars shining when
the gloom Of a monetary darkness overshadows
the earth.
lone thing should be borne in mind, however,
that the flush of mining fevers enriches the coun-
try far beyond the mere profits of metallic wealth.
Wild countries opened up TO commerce, stud.
ded with towns, and covered with farms; capital
is modified, mechanics employed, labor enhanced,
and taxation extended California bpit for Us
our splendid clipper ships, as well as the Panama
Railroad, and taught us how TO construct sea-
going steamers Colorado, Idaho, etc, will render
the Pacific Railroad sure. Lake Superior copper
will call forth the British Railroad. Inventive
genius is stimulated the arts advance, mercantile
pursuits advance. literature fourishes, manufac.
lures increase, agriculture extends and the entire
country springs forward an age At once under the
influence of mining mania. which leaves such
an era of advancement that the inevitable rcvul'
sion and crash does no more than breathe upon
the mirror of its retection-the sold silTering is
yet behind and untouched
The greatest good to the greatest number is
held TO be the souudeSf motto of political economy
and in that light we view mining manias rs eSpe'
cal it is true for the suffer
ers BY bogus and unadviSably formed companies,
the victims whose ruin marks, as the bones OF
dead camelS do, the track where the rich caravan
has passed on TO distant countries, bearing opu.
lencs in its train. and bringing back home a
world OF wealth and affiuence."