Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1864-04-19
THE EVENING NEWS.
DABBLING IN MINING STOCKS.

This is a fruitful, never-tiring, inexhausti-
bic theme for the newspaper press OF CALI
ornia. They see the citizens of that State
investing largely in mining specu!ations IN
this Territory, thereby withdrawing capital
which they would naturally prefer to see
devoted to the development OF home
resources. They demonstrate against this
diversion of capital, and endeavor BY every
means TO discourage it. Such course Is
dictated by sound policy Of self-interest and
self-rreseyvation. We have no particular
faplt 10 find with il. In these efforts at dis
couragemeut they, however, are too prone TO
paint their particular tiend Of Siverland Of
rather blacker hue than strict fidelity to
nature actually justihes. We have noticed
this class of newspaper articles very frequent
", aud have had occasion in several instances
to denounce some Of such as absolutely false,
and wilful misrepresentation. Our eye has
jus, fallen upon an article on the subject
in the Nevada Transcript. Although not Of
the extremely Objectionable character Of
many others Of the kind, it is still consider
ably at variance with real facts. Here is the
extract, which is fair specimen Of the
milder type OF disparagement heaped upon
silver-mining speculat!ons;
The number Of mimi e. ,upanieS Incorporated
under the laws Of this state IS immense. The
cApitaI represented on paper by these companies
81 nt the world and the
stock Is supposed t. be owned by somebody.
Thousands OF lrjGrS are being prOspecied ~
heavy expense. and uut of those not one IN hIty
will ever pay. and "ut Of those that do pay fewer
still will yield anything ike fortunes 20 owners.
Some hedges are rica IN spots, and some nave Tlca
sDots mad, in them bv men who want to sell.
Several Instances we know Of where stocks have
been sold AL . high figure on thr strength OF IN
ASSAY OF one crushing, tha: Were not worth one
tenth the money they sold for Silver lodges iiAe
gold washimgs. are spotted. Sometimes they az
ford paw rock and often they 10 not We speak
of the best class OF veins Poor veins are more apt
not 10 pay at all
I-w0uid be alI Instructive hiSiory-1nd We ara
not sure chat California would make more by pro
curing !, written, than she will ever derive from
the geological suzvey-ite statistics 0tthe number
OF companies thar have been in operation upon
silrrr veins since the discovery in WaShoe the
amount expended! and the number OF claims that
are known 10 have paid dividends CahtornhinS
would see that the number Of claims located COZ
,rasted with the number tina; pay. would De 80
vastly out OF proportion, that the chances Of
making fortune BY operating in silver ininine
are about equal 10 being struck b. lightning. II
ne. want gamble let them 20 20 Il faro bank
or monte table and done with it. Tins gambling
in stocks * far worse tor the mind Tor It Is I'M
gerinc rehabilitation. When q man il caught At a
gaming table h. knows there il no Disgusting
The fact thar he Is gambling. BU: Il man IA mining
stock SprculatiOns practices deCe EtiOn on hlInSeI
and his friends, looking honest and pretending =
be engaged in an honorable and legitimate bust
ness whereas he knows. from the nature OF the
business that ne has less chance Of being success
ful ,hau a raw hand az poser has of getting four
aces NJ the first deal.
How many of our own citizens have paid out
hundreds and thousands of dollars in assessments
on silver claims who would be thankful 10 sc;
even half 81 il back! Some. we doubt not. still
see fortunes in their minds eve. and intend TO hold
ou and continue paving assessments. Wei, let
them They deserve success FOR their ptuck, and
we hope they will COME out with hundred tons
Of silver apiece.
That delving into the side Of barren
mountain in search of / silver-bearing ledge,
is not one OF those certainly reu,uneraave
business operations like making shoes at a
dollar per pair, or saving wood at dollar
cord, we are willing and, in fact, forced to
admit. Neither do We suppose that one per-
son in hundred, gifted with ordinary under
standing, regards il in that light. Those who
invest their money or their labor in mining
enterprise of the heavy character carried on
in this Territory, know, or ought TO know,
that such operations are conducted necesSar-
ily at heavy cost, and the expenditure not
onlv of much labor but also Of time. With
all the money in the world to operate with, a
mining tunnel or shaft can only be excavated
at certain rate of speed. People Of common
sense calculate upon this at the outset, and
take also into calculation the very consider
able amour. Of uncertainty that attaches to
mining adventures everywhere, and which
is not confined solely to the character
Of mining conducted here. The great
mass Of the population OF this Territory
is composed of Califoraians well versed IN
mining operations in that State and else
where. The uncertainty Of all mining ope-
rations, is lesson that they first learned in
California and the bitter disappoinsments,
disaster, labor lost and money squandered,
form a chapter in the history OF each. II
there is any branch Of mining offering any
promise OF heavier remuneration than
mere daily pittance, that is unattended with
this risk, il is one unknown to the mass Of
the miners. To him who labors with his
own hands the labor here is no greater than
there. II that labor is lost, it is no more
lost than that which thousands Of the "hard-
listed" have thrown away year after year
in damming, fuming, and delvinS in the
river-bcds, driving tunnels for mountain
basins, or toiling in the placcrs Of the foot
hills. To those who make unsuccessful IN
vestments of capital on this side Of the noun
tains. the money is no more utterly lost than
the glittering heaps that we with our own
ewes have seen sunk in the mining adyen-
lures above enumerated. The adventure on
this side, has this advantage and this induce
men, above that Of the rs'i mining operations
of the western slope. The successful miner
here when his labor is rewarded BY the de-
velopment of a silver bearing lode, has found
a permanent fortune and his anxiety and
labor are ended. A silver mine is not Of
that temporary and speedily eIhaussible
character that is the gold deposit. 1t is
ixed fact, permanent and comparatively
inexhaustible source of revenue. Hence
the preference which is given to this class of
mining BY labor and capital.
We have been thus far speaking Of invest
ments Of labor and capital by those vino en-
ter into the business of mining in good faith,
and with the aim and object Of actually de-
veloping the mines. Of that other class
land it is Of such, undoubtedly, that the
Transcript more especially speaks) who
" dabble in mining stocks" in the mere man
ner Of specializing upon the rise and fall OF
their stock in the market We have little to
say. They have, as the Transcript justly