The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-07-30
PROPOSED INTERNATIONAL MINING BUREAU,

1t would be difficult. II not impossible. to over
estimate the Importance OF encouraging the de-
velOpment OF mineral industry upon the commerce
and progress OF country, and whatever tends to
direct popular attention to this subject deserves
approval and support. Immense wealth lies hid
away in waiting for aborious hands to draw 1t forth
from the bosom or the earth, while capital and
labor in other countries are
sTANDING IDLE
for want OF profitable employment. But owing ia
imperfect or unreliable information only being az
hand the capitalist is afraid to venture In remote
undertakings, and so q great deal OF profitable in
dustry Is lost to this generation. There
can be no doubt that the Introduction OF foreign
capital into the mining industry OF the United States
would be attended with great advantage, both to
the Industrial interests OF this country ana to the
investing capitalists, who would be certain to OBJ
tain higher percentage on their capital than they
receive from any OF the government securities oftna
world. And in turning the attention Of the money
lenders to these new and
PROFITABLE FIELDS OF INVESTMENT
which the American mines offer, some good will b9
done to humanity by making 1t more profitable 70
lend for the of wealth than for oppress
ing and faying OF mankind.
Within the past ten years an extraordinary de-
velOpment OF mining enterprise has taken place, but
for the most part without any help from foreign
capitalists. The success however, Of the pioneer
undertakings has encouraged some English can't
taists to make considerable investments, and, a
these were only made after due examination and
consideration. they have more tnan fulfilled
THE EXPECTATIONS OF THE INVESTORS.
AS result, American mines are attracting more at
tenton in England and sales OF American mining
stock on the Liverpool market arc becoming fire.
quent and important. SIM. the great bar to any
general Investment Is want Of correct information as
to the quality OF me ores the means Of TRANSPORTS.
In order TO meet this want an ASSOCIATION Is In
progress OF formation, to be called 'The Inter-
national Mining Bureau OF the United States Of
America" This 'bureau" Will devote itself ex-
clusively to the collection of all records relating
to the history, development or results OF
THE MINING INDUSTRY OF THE UNITED STATES
1t VIII also preserve all geological reports and
ranean explorations, drawings OF furnaces and Of
machinery used in mines, and In the preparation
and reliable information to capitalists desiring to
invest The influence OF such an association pro-
perly conducted, with able and respectable men "a
Its head, would be immense, because
FOREIGN CAPITALISTS
would have confidence In the statements issued
under their sanction. In order to increase the
public confidence IN the transactions Of the bureau
1t is proposed to have board OF experts. composed
OF fifteen eminent mining, metallurgical and
mechanical engineers, physicists, chemists and
technoogists, to whom all scientific matters will b
The projectors also propose to establish reading
rooms In all the principal cities OF the United Statea
all the foreign and American periodicals treat.
ing OF mines, metallurgy. &C., would be placed
within reach or the public. 1t Is hoped by this
means to clear away great deal OF
THE NEUTRALITY-SUSPICIOUS. WHICH EXISTS
IN IN the public mind with regard 10 the condition Of
the mineral interests. In connection with these
reading rooms II Is proposed also to establish mu-
seums OF meiallurgy and practical geology for the
illustration OF the mineral products OF the United
States One OF these museums would also be erected
In London for the convenience OF the European In
vestorS.
The plan Of the organization of the international
Mining Bureau" Is very comprehensive, ana there
can be no doubt that under proper direction the
amount OF goOd which such an organization could
40 would be very great At the same time
THE OBSTACLES TO SUCCESS
are considerable, as the proposed organization
would require large capital which would produce
nothing directly. This difficulty has been some
what foreseen by the projectors ana the first idea
was OF resting the organization on the voluntary
SUBSCRIPTIONS or the INNING companies, but this
idea has been abandoned, and an effort will ba
made at the meeting OF Congress to have special
act passed incorporating the bureau with stock
capital OF $3.50 OOO In shares OF 800 each. II ex-
pected that the various mining organizations will
take up these shares In view OF the benefits which
the organization Will confer on the whole mining