The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1870-07-17
TING paospteT IN WHITE PINE.

the PROSPECT IN WHITE PINE.
As now, the figures do not quite pre-
sent the case rs il is. French stocks
show an advance, but gold has gone mp,
and f~ve-twenties down. The latter two
changes are attributable to the paroxysm
which overtakes the system, striking to
its heart-as q general war always docs
whether the ultimate effect will be good
or bad, the first effect of so sudden a
general shock is, a rush of blood to the
heart-a plunge of money to where 1t
belongs calling in of specie to where
its best demand is held. No alarm to be
felt on that account. The market re-
ports from New York, this morning,
show a foreshadowing of the legitimate
and inevitable effects of the wal in Eu-
rope. The five-twenties will advance to
90, and gold come down TO its level. The
grain market will be active, at advanced
rates. If that little spot of country the
other side can sustain n war till LIST Of
January, the use of money in the hands
Of responsible American sovereigns will
be down to maybe 5-per cent. the
year. Then, mining stocks will take the
place in the ranks of securities to which
they are entitled.
Mining, as IN investment, is a differ
ent thing from what it was a few years
ago. Then, men put their money in as
in a l~ottery-and the chance was not a
whit better. They took the word of
some adyenturer, and one investment
attracted another, till perhaps a town
would be built up, with no substantial
foundation, only known as the center of
a certain system of investments. Now,
men examine the lodges, and learn all
they can about them before putting in
money; and the money goes to develop
the deposit, instead of to build prema-
ture mills and rush out abortioned bull
lion bars. Mining is now as fair a BUSH
ness venture as farming or manufacture
ing. The investment must be money,
and, to be of any consequence, must be
considerable in amount; and the chance
is to be carefully looked after before be-
ing taken; but the profits of a profitable
investment are in a ratio to make up for
all extra risks. Then there are no back
sets by bad seasons; no destruction of
the crop by chronological or meteoro-
logical causes; no serious backsets by
endemic misfortunes; nor by excessive
fruitfulness in their producing quarters;
and the class OF investment must ever be
attractive, under proper guidance and
management, for the ever-e1istent pros
pect of enormous profits.
San Francisco, natural parent of our
mining enterprises, begins to be jealous
of Eastern encroachment on her fields.
Good again for White Pine, for the Bay
City has grown careless. Newark, New
Jersey, has excellent smelling and sepa-
rating works, and u people are not
slow to make the experiment of finding
the difference in product of base bullion
as between shipping to the two points.
The separating ought 10 be done here;
but that is discussed in another depart
ment. As il is motor ,chae it is not, we
must compare returns. San Francisco
is nearer, and on arguments Of general
trade interest ought to come in ahead of
any Eastern works for our base bullion.
New Jersey has outbid the San Fran
cisco works, and will compel them to
better terms for US.
San Francisco cca do better for us
than the East. The freight is but about
half that to New Jersey. The time is
less than half. Returns from New Jer-
sey are very slow-months. San Fran
cisco will advance by telegraph. San
Francisco is on the line to the great
silver bullion markets ofthe world-China
and Japan. The America on the LIST,
took more than n million dollars of silver
bullion to the East Indies. That takes
the place of the Mexican dollars formerly
in so great demand fol that trade. San
Francisco, many days nearer the great
silver bullion market, ought to buy and
separate all our base bullion, while we
are not compelled to save the friction of
shipment by the erection of separating
Mayor Selby, impelled by a comprehen-
sion of the situation, is making arrange
ments now to put his works in proper
order, so as to fill the vacuum, by COM
peting on an even footing with the East
ern works-with the advantage of freight
savings in his favor. All in all, the pros
pect is good.