Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1864-05-07
A MONTGOMERY STREET VIEW.

anu OLlerS.
A MONTGOMERY STREET VIEW.
We have, from time TO time, treated the
Montgomery Street Miners" to sound
peu-lashing for their petulant, and Oft
times ignorant, growing and misrepresen-
tations concerning the mining operations
of Washoe. That that people havefought
the wildcat TO their sorrow and damage,
and that their grumbling thereat is natu-
raj, we are forced to admit. That they
are the victims of their own gullibility,
does not mend the matter as regards them,
nor is the fact that mining sharps" from
washoe have succeeded in duping and
swindling an over-credulous people, any
credit 10 the Territory. On the contrary,
that very fact has damaged the reputation
of our mines, and in the revulsion Of feel
ing towards slver-mining speculations,
the real and permanent interests of the
Territory have been made to suffer from
the temporary success of wildcat swind-
lers. Capital, and that to the extent of
millions, is indispensable to the develop
men, of our mines, and in proportion as
the faith of capitalists is shaken BY bogus
spectators, so must mining operations lag
in this Territory. The plain duty, there
fore, of our people and Territorial press,
is to use every means TO suppress and
crush out every sw:ndhng scheme known
to be such, and to encourage and dissemi-
nate reliable information concerning the
bona yfds mining enterprises. So long as
it is outside capital that must develop our
mineral resources, so long it is not only
common honesty, but the soundest policy,
to protect by every means, the foreign
capitalist from the Vaccinations and fraud
of Peter Funk operators. The feelings OF
the San Franciscans upon the subject are
miuored in the following article from the
Mercantile Gazette and shipping Last of last
Tuesday. Let US read it, and ask our
selves if there be not a great deal OF truth
in the complaint therein made:
NEW PHASE OF MINING MATTERS" Mont
yonery street vii! not couch stock until the mine
!, working" Such is the language Of an interior
paper which counsels its readers to incorporate
their mines ut home now. and make trustees OF
men on the spot who C1n attend personally TO the
interests Of the company rather than go 10 San
Francisco after them. The game which for some
time past has been played upon capitalists In this
city BY the holders Of mining claims, Is IN great
measure stopped, and we are glad the fact IL re-
eorni1ed II was the fashion of these people 70
incorporate here, and by free distribution OF
shares which really cost nothing, TO secure Po-
1iticn in this market, aud market value for tne
balance; which they rot unfrequeniy lost little
time in disposing Of and then retired from the
scene with the satisfaction Of knowing that il the
mine shonld prove worthless they had neverthe.
less made good thing out OF it, and II II should
prove valuable the trouble and expense OF devei-
oping would fall on others instead OF themselves
There was and is still, sclass OF mining men who
SO long as they could make money N TINS way
would DO nothing else, and they were IA no way
particular whether the claims they offered were
possessed Of intrinsic merit or not. And strange
20 saw, so great was the mania Tor mining specu-
lAtions here that these parties found ready listen
srs TO their marvellous tales and ready buyers at
low prices for almost anything in the shape Of
mining claim they had 20 offer. How many an
honest miner has gone away from this {, y az
ter n successful expedition Of this sort, lang arg
in bis sleeve AZ the gullabiii'y OF smart city
folksr Montgomery street sharps, 'isdeed
Millions Of dollars have been squanderei by al
classes among Us just in this way. We cannot
exactly say that the money might as well have
been thrown into the sea- for the parties receiving
Il have spent il fresy and it has gone the rounds
Of trade with its usual results, benehilnS the tfa-
der and the producer. But whoever was bere-
htssd, the vicrimiZed purchaser ofthe bogus mine
was no; Of the number, at least in pocket, al
though. without doubt, he acquired valuable
knowledge in regard 20 mining matters which Will
Be Of service TO him hereafter. Many eircum'
stances have eonspired to the same end Inc
Montgomery stree. trustees" as in duty bound,
must proceed with the development OF the ints-
rests committed to their charge. Presidents Sec
re,aries and Superintendents are chosen, laoorers
employed, implements purchased, and after nnd-
ing with perhaps some difficulty, the exact loea-
ton Of their claims, the work commences, aod
proceeds for the benefit chiefly ii not exclusively,
Of the officials and operatives, who are indeed a
very worthy. bat 4 very expensive class Tor
whose support the stockholders are called on 10
contribute from time 10 time And this, in greaE
many cases constitutes the entire proeesS-the
rnin! or az least that part Of it which deyelopes
any precious metal, into the pockets OF the share
hoiders
Anexperienee Of this kind going on for a twelve
month or more has added materially 10 the origi-
nal stock Of ideas which our people entertained
upou the general subject Of mining operations"
and the result Of all IS stated briefly in the extract
Nth which we commenced: Montgomery street
,vill mot touch stock unless the mine is working"
Frard and deception. or At the best ignorance
and r.ismanazement. have produced their legiti-
mae result, which is distrust and now the ven
dors Of mines must give indisputab!e evidence OF
,bsir value before they can hope 10 dispose Of
then. They must work their mines, and estab-
ii,h their merit. before they bring them 10 mar
ket. There is capital here for investment in such
.nt.rprises when shown to be safe and profitable,
and much more Is coming; but we trust the reign
Of wild cat il passed