Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-01-12
Di.couraging Development of the
t'-- Mines.
I From the Humboldt Register.

| From the Humboldt Register.
Surprised. intelligent men who under
stand the case will be, to learn that any,
at this late day, will rise in our Legislative
halls and advocate the mad policy of
cramping and handicapping the operations
of those citizens of other States who are
willing to invest their money in our mines.
Efforts in that direction are now making
in the Legislature. The proposition IS to
so amend the incorporation law as to re-
ouire corporations in other States, owning
mines here, to have their principal Offices
here. What advantage can possibly re-
suit to the State from such action, we can
not see. A bill to this effect once found
favor in the Territorial Legislature, and
with the people; but the case was differ
ont then, The silver discoveries at that
time hung upon Comstock, and outside of
its atmosphere were held in light esteem.
San Francisco was equal to, all require
ments of the Comstock, and was already
in it, and it was desirable that the compa-
mics have their offices in Virginia. None
of us knew, then, of the immense silver
ribbed mountain ranges lying this side OF
the Desert. 1t seems that some do not
vet realize that these silver veins are so
numerous and extensive as to offer pro-
fitable employment for the idle capital of
the world.
When the Territorial Legislature dis
eliminated against interpretations outside,
California was investing in the silver
mines, and no other community but the
Californians paid any attention to them.
The Act of that day was to compel the
Comstock companies to establish in Vir-
ginia. Californians outside of the Stock
Board were willing; their assessments per-
formed more work if paid to Nevada
incorporation, because they were not alb
sorbed in Montgomery street. Now, the
situation is different. California has been
found unequal to the development of the
silver mines, end we have recourse to the
older States, where capital is held at six
per cent, which would here command "a.
The attention of Eastern men is now turn
ed this way, and the prospect is good for
the employment of many millions-of Eas-
tern money in opening mines in this State.
To get this Eastern money invested IN the
development of silver lodges, we must
offer it such inducements as to attract it
from the auriferous quartz Lodges OF Colo
RADIO and Arizona, the oil stocks and iron
of Pennsylvania, and the copper of Michi-
gan. New York capitalists have way Of
their own to do everything. They have
way of shaping and controlling their mo.
ney, and way of thinking that they will
not adopt other ways. They are set in
their ways; and to get them to operate
here we must leave them free control of
their own corporations-or they'll say,
"Trot along with your undeveloped sill
yer mines; they'll never amount to any
thing that way"
When Eastern capitalists invest, they
take a mine entire. The money they
spend in developing it finds circulation in
the vicinity, vitalizes general business,
and enables the community to bear the
expense of opening mines surrounding.
If any Internal fool wanted proof of this,
he could find it in Colorado. There are
mines enough here for all. Let the New
Workers work such as they please to, and
in their own way; the more at it the more
rapidly the State will be enriched. We
need not he troubled by the New York
notions; we can 60 on our own. With |
out doubt home corporation can develop
a mine more economically than corpora
tiou having its base abroad. All the bet
ter; our own stocks will always have the
benefit of that consideration in market.
The field is wide, and there is room for all;
there is ample room, too, elsewhere. The
question in simple is, repel capital, now
Offering, or invite it. We say, by all
means invite it.