Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-08-18
THE SAYING REVERSED.

Penny wise and pound foolish" is a
saying of centuries against the avarice Of
the misery portion Of humanity. 1t is
within our province to question in the
light of immediate illustrative facts,
whether, Penny foolish and Pound
wise" is u change of wording for the
better. Has it not been demonstrated in
Nevada that both sayings suggest an in
trinsically false idea If the affairs of all
our mining companies had been managed
ON pure and strict business principles,
who does not believe that our prosperity
as a people would have been intellectually
advanced beyond the present attainment
and standard: Leaving out Of considera-
ton all the cold hearted plans for freezing
the poor stockholders, the general reck-
~lessness of mining management has re-
suited in q relative depreciation of our
interests that has gone up into figures We
would not like to mention. The base
speculative purpose has led the undisci-
plined controllers of rich mining works
into extravaganza in some directions, and
penuriousness in others-equally adapted
for depression and ruin On behalf Of the
company so represented and conducted.
It is not alone the fact that u home
mines have been largely developed that
has given substantial credit and basis to
the Comstock Ledge Corporations their
coming under the skilled and cautious
business minds of professional capitalists
has set them, finally, upon a stateable
level. We all know that when it is said
authoratively that such or such a man has
procured a large share in such or such q
speculation" the scheme ceases to be re-
garded in any light as speculative ; it be-
comes at once q legitimate enterprise. 1t
is Immediately understood that all the
transactions connected with what was
once q speculation will be brought to q
definite conclusion and settlement, and
the future Of the project will be deter
mined on working principles recognized
and approved in the market forum and in
all commercial circles. There will be
henceforth no prodisal wastefulness ; no
petty, stingy policy will mark the con-
tracts and accounts. 1t is true that q
lottery chance is before the prospector of
mineral regions. But it being established
that a certain character Of precious ores
are to be found in a given vicinity-evcn
before positive and extensive developments
have been made-the labor of finding
leads and trying their value as presented
or indicated on the surface may be sys-
tematised within rules insuring economy
in labor and almost guaranteeing ultimate
and a~bundantly browning success to all
the originally interested parties.
Suppose a thoroughly organized COM
pany of practical miners, judiciously off,
cered and able to equip and regularly pay
off the workmen, should take up and ap-
propria.c an entire new mining district,
having one or moro ascertained leads OF
average richness-would it not seem to
follow, or be nationally expected, that the
progress Of work and the amount Of pro-
| d~uctivenessi n that district would furnish
a startling contrast to the record Of yield
in promiscuously settled and appropriated
districts. Each dollar spent ostensibly
for development, would probably have a
three-quarter application to the announced
| object; whereas, it is notorious that here
tofore twenty five per cent. of arrangements
is a liberal-nos I say charitable-esti-
mate Of the ratio Of subscribed funds lit
orally directed to the tunneling and shaft
ing and stopeing of all sorts Of mining
claims. We sincerely hope that at some
day, not very far hence, we shall have this
grand community trial of associated min
ing ELECTROMAGNETIC at the very assay
of the float rock in q newly discovered
ledge region. Then every penny spent
will prophesy a pound of revenue coming
back directly to the actual pioneers who
there invest. And arc we never to gather
a lesson from the over and over experience
of years. Most expensive, tedious, cor
rupting litigation follow the finding of
mineral wealth, and the honest, hardy
prospector be forever cheated out Of his
claims, forced again into the struggle of
poverty, or drawn upon the witness box
on a perjury sale for his livelihood