New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-08-26


Gr5 in Montana the same ill-cOnccived,
,,dIv managed and of course, unsuccessful mining
enterprises that the gold fields Of Colorado present
only ON much smaller scale. The failures are not
o nearly universal here as there for the reason that
te ores are richer Of easier access and as yet they
have not presented the combination Of refractory
metals which have defed all ordinary processes IN
Colorado. Some companies have succeeded in Mon
tana and are now doing well, with iattcnng pros
poets ahead but in every instance so far as nave
been able to learn, they have been successful rather
in spite of the management than because OF economy
and skill in their direction There from p to 80
quartz mills in this Territory all completed and sup
posed to be in order for running. Some OF them are
total failures, and hopeesSly bankrupt; others are
partially defective in their machinery, ana muss
await modification or repairs still others nave tne
machinery and the power but have been delIaudeu
or disappointed in their mines, and very lew are
moro than paving expenses All these failures are IN
the midst of the richest gold and silver mines on the
continent or probably in the world, and where the
gold is more easily obtained than IN CaIioma-the
Montana quartz as a rule, paying from the surface
down. while in California and most other mines OF
the precious metals shafts must he sunk hundreds OF
feet before pay rock" can be obtained.
Unfortunate Eastern stockholders in gold COM
panies. doubtless, are at a loss TO understand why
hopes. drag along in wastcful expenditure, and
finally end in serious or total loss but any OF
them, possessing ordinary business sagacity, need
but glance at the actual condition of things here, TO
appreciate that their failures are the legitimate
inevitable results of their own fohes, and not the
fault d the mines which teen with bOundless ana
available wealth. TheTe ought 20 be hundreds OF
quartz mills in operation III Montana To-Day paying
the stockholders their entire cash investment VWlce
year in the shape of dividends; but there must DO
a radical change in the preyacis system of purchas-
ing mines selecting, freightng, and constructing
mills and in their general management, before sue
cess Will crown the efforts to develop the wonderful
wealth of these mountains. There are leads enough
opened in this Territory, proitcung ore that VIII
Weld from $50 to per tun to employ 800 or more
stamp mills indefinitely and by the exercise OF
sound dgment in the purchase and opening OF tho
mines the ore could be reduced at total cost, IN
Guiding mining and delivery, OF from $40 to $50 per
tun. While in California they work ore prohtasiy
that yields from $40 to SIS per tun here no ore can be
reduced to pay expenses yield Of less than go
per tuu and in many instances it must yield $50 to
pay any profit.
1t is true that wages are much higher here than in
California, and must remain for years to come
The Territory produces nothing but gold, shVer'
grain and vegetables and Gttlc stock. 1t has no
manufactures and viii have none TO supply the pres
ont generation. Machinery, clotisng groceries,
prints iron. coffee, lead Sc, must be purchased at
fabulous prices Old iron is worth 30 cents per pound;
sheet iron is worth 40 cents; copper sheets COM
mand s. per pound; lead from 40 cents TO ~
cents per pound and the necessaries Of life are so
costly that S. per day is not more than living wages
for ordinary laDorers, while experienced miners en-
pineers. and all classes Of skilled labor command
from 20 TO 30 per cent more This cannot soon be rene
died even in a country WHEREBY heat is sometimes FED
TO stock as it was last Winter in some Of the bount-
full valleys because there was 10 market 1or it. Two
years before flour was worth as high as $lOper sack
of 100 pounds in gold and the large profits irealzed
by those who exported it from Sal Lake st nliated
them to repeat the operation last year and they were
met with an abundant supply. indeed a surplus, OF
homegrown -four, and had 10 sell ont at less
than freight. Beyond the agricultural portion OF the
citizens OF Montana, none seek TO produce anything
but what they expect TO yield speedy fortune and
10 systematic efforts made 10 lay the foundations
of rich and prosperous communities Inc settlers
are mostly miners who count on but a. temporary
residence here and the traders and spectators who
ever follow in their track to gather the lions share
of the precious metals after they have been produced
Just now the Territory is drained Of one million OF
greenbacks to pay fTeightS, and money commands
from ten per cent month up to SIX per cent week.
Business Gibbs and flows to a degree unknown in old
III ceuters of trade and sudden wealth and as sudden
" bankruptcy sweep close upon each other. Two
years ago. when the gulches we've producing many
millions in the leading settlements the scant supplies
of goods sold readily at prices regulated merely by
the usually elastic cOuscenceS OF the merchants.
Last year business was still brisk and This year
immense surplus Of goods has been shipped, the mar
kct perfectly glutted, and very many articles
sold at st. Louis prices Some merchants have been
compelled to borrow money at from 10 TO 20 per cent
per month to pay freight at Fort Benton and then
sell their goods at loss Of 80 TO per cent to meet
their obligations One year presents data for the
business of the next and everything by surges
or waves to fortune disaster Even the mining has
been done in the most restless wastlu manner. The
richest gold beds are hastily and impeIfcctly hurried
over, leaving more ia them thaH is gathered from
them, and new prospects or diggngs call the heroes
Df the pick and spade from Alder 90 Helena; from
thence TO Deer Lodge; thence to Salmon River, and
so through the hundreds Of plaee the incalcuia-
bic wealth of the mountains is developed.
BY and by, system patience and practical enter
prise viii to this great work and the wealth Of
Montana will startle the world Just how soon the
new order will dawn. cannot pretend to judge If
j had not gone through the desolation and wasted
millions of the mining regions OF Colorado, would
predict the speedy advent of most successful enter
prise in Montana; but if good business men IN the
East win persist in wasting fortunes in Colorado
cannot assume that they viii not continue to repeat
the same insane profgacy in Montana-soon encircle
its hundred Of millions of accessible gold with bank
rup corporations, and parayze this peerless fountain
of richness 1t is not too late to save Montana from
this terrible curse, and the many millions which
fear may lie wasted, or worse than wasted, in the
most inviting field for legitimate enterprise the
whole world presents.
go E, of nj