The Elko independent. [volume] (Elko, Nev.) 1869-1872, 1869-06-30
Why

Why II that the predictions Of vast Influx Of Ia
borrrs and capitalists flowing into the Pacific States
and adjoining territories, upon the completion of the
Pacific rSiruad. have not been fulhledf Why is the
promising part of the Republic slow in develop
rncni CONSTRUCTED it, enierprses The world has
equal extent Of terrtory tina; pgut 10 capital
such field Of proatabe investment this State.
We have canals be dug railroads be built. r-ue
ton b. erected and mines be developed upon
every hand yet we have no means TO undertake even
the most pressing enterprise Of public tiity. Moth
ing is done only who're there is promise Of from two
to four per cent. per month upon the capitAand i'm
mediate at that No great work-no matter how urg-
ent the demand-can be undertaken. because We have
the There Is not, to-day. upon this coast
million dollars tina; can be called out for any pub
lie work. matter what its utility promise Of profit
may be- 1t is than useless for to attempt to
hide the fact that with all gold and silver. with
vast agriculture. great forests Of the finest timber,
untold waterpowers, mines Of iron, copper coax and
quarries of the best building stone, Poor-poor
er than any State outsile Of the "lS:c South" We
have vast resources upon every haad aud Of every
kind, but they like unbound diamonds. away from
reach We rich in all that nature do for the
country yet poor in everything that leads 10 imms
dia;e pro- Derity The deYelopme Il that show
in this State is the result OF the most extraordinary
inducements that the niueS have held out aud the
have but bank that PrSi,Eds 10 possess one
million dollars in the three States Of California Oregon
and Nevada and that goua be much better repre-
seuted by three gilt balls than any other emblem.
Money to-day, in the city Of san Francsco-iho boast
ed commercial center Of the territory laying west Of
the Rocky MOuutains-is worth three per cent per
month. and the great bank only gives thirty days
and the paper must be gilt edged at that This vast
stretch OF country lying between the Rocky noun.
tans and the Pacific Mexico and the North Pole is
dependent upon The pe dizif OF one little banking
that protends to have but ten millions Of dollars
capital for its financial accommodations Twothirds
OF the business houses throughout this district
the mercy least imagine themselves to be- ofthis
modern Shylock. We poor that one concern,
with asserted capital OF ten millions, il not only
able 10 control our business but our politics also.
viii il be denied that they nave secured the cleo
ton their TO every responsible oflcc iu this
State? Ask any one who was at Carson City during
the contest 1867 for the OF Senator Nye
what influence it that forced candidate Of
the aeld bought another. and finally beat DeIonr
though he had clear majority pledged 10 him at the
opening Of the session. Who nominated Gorham, and
who kept man who has proven to have cunnived At
the escape OF revenue swindler in the responsible
position Of L. S. district Attorney Who. to-day,
holds the mines. and through them every other inter-
.
1t IL this petty asserted ten millions. But cruak
er may say that possessing all these advantages they
have been able TO declare but per cent dividend
per month True; but let Il also be told, in this
nection, that one Of their agents who TO this
State poor IL said 20 be worth cool million him
self besides lending helping hand various friends
! by giving them wink at the proper moment. No
association of possessing but ten millions
OF dollars assertcdl could WELD such influence
great extent OF country unless that country
poor in available means This IL exactly case
We are rich in the wealth Of mountains our valleys
and rivers, but in money to develop these embryo
riches we nrc poorer than anybody.
Why, after having In the short space Of twenty years
added TO the worlds stock Of precious metals an
amount equal oncfourth Of the whole II possessed
bcfore-why have so little cash in hand ourselves
We who have added greatly the wealth Of others
arc. ourselves. poor; and unless change
iii some way, TO bring the cheap capital of the
older States and Europe to aid, shall be poorer
yet Cor the Little capital We now have Is IN" 'wo-nr
that never dies eating tho life Of the body i, in
habits Now will not assert that We can give tho
reason for tho condition Of the financial affairs We
have pictured but will ask if this il not it, Have
we not attempted to establish 4 commercial system in
direct antagonsm to the rest Of the world Have we
not, by refusing TO charter banks thereby turning
our real estate into money thrown from us one Of the
most useful and important aids possessed by a com
merCial people? Have not by constantly refusing
to adopt the kind Of money used by the rest Of tho
country driven the cheap capital of the Atlantic State
from us and placed ourselves at the mercy Of set %
men who are vastly more deserving of the name %
pawn brokers than bankers. Let some cOtcmporarJ
who understands the subject enghtcn Ms and the res
OF mankind.