Pioche daily record. [volume] (Pioche, Nev.) 1872-1876, 1873-04-16
TIRE PERMANENT SOURCE OF
WE ALTH.

WEALTH.
How many are there in the State Of
California to-day, in reduced or moder-
ate circumstances, regretting that they
did not secure tracts Of eultivable land
when they couli have done SO? Real
estate investment Is, beyond doubt, the
safest known. For stability no kind
Of government or other securities are to
be compared with wealth in the soil.
How often DO individuals and corpora
tons which are reputed TO be the most
substantial in their financial standing go
to pieces amid the breakers of business
reyersss, carrying down with them in the
wreck the happiness of scores and hund-
reds the fruits Of whose years Of toll had
been conf len;ly and expectantly placed
in their keeping? The mine which last
year melted its million to its owners may
this year "cap" or pinch, and involve
in ruin its possessors before the paying
ore deposits are again reached. Even
the great government in whose bonds the
citizen invests his earnings may become
involved in foreign or domestic war, and
receive such a shock to its credit that
one dollar OF gold would command sew
eral dollars of its paper, or successful
revolution might destroy its credit
entirely, thus hopelessly Gripping in for
patriotic citizen who had trusted in its
stability and continued prosperity. But
land d property is safe through all these
mutations: its value ever has and ever
will increase with increasing population;
its rental is ever security for current
taxes; ami ths property status IS IN
changed, under a universal law of civiliza-
ton, through changes ofpolitieal govern,
ment. These remarks have been elected
by the reading Of au elaborate leading
article in the San Francisco Bulletin, on
Sources of Wealth" in which We find
the following:
The men who have had faith in the
future Of the more prominent places in
the country and have bought and held
real estate largely, have almost invaria-
bly, become rich. 4 few have bought on
the top wave Of speculation, and have
been forced TO unload at a sacrifice. The
Influences which affect real estate values,
especially such as send them up, are
frequently almost imperceptible. Popu-
latIou increases slowly, capital accumu-
lates, the property becomes more accss-
sible, Improvements have been made in
the uei5Aborh0od, the suburban lots or
the farm, once SO dead that no buyers
wanted the property, have finally come
to be quick Of sale at three or four times
Me on nal cost There are many men
who are land poor-that is, they have
land and nothing else. The land is not
actually productive, and there are taxes
and interest to pay. The burden is
sometimes carried for years. The real
estate owner is reputed to be rich, but
he has no money. Other men 20 into
speculative operations and make and
loose two or three fortunes, and are not
unfrequently at the bottom of the hill
just about the time the owner of dormant
real estate finds the tide rising, and is
borne along to a certain fortune. 1t
may be slow business to wait for out
side lands and inside lots to advance.
But just as sure as population increases
these lands will appreciate in value.
But with much greater confidence can
real estate investments be made iii this
country than they were in California Q
few years back. There, as in the case,
OF the Western States, immense cultiya
bic tracts were lying unappropriated-
great valleys OF the Sacramento, San Joa
quin, Santa Clara, etc. Here the cult
vable area is very limited in extent; few
scores of homesteads of ordinary siz
would embrace all the tillable lands of
very large extent of country; and conse
quently the rise in value must be NOR
rapid in exactly the ratio that the exter
is more limited. And, again, in Cal
fornia the home demand rested on a MOI
mutable and less substantial basis, q
placer gold mining, compared with silve
mining, is an industry Of temporar
character. But the California land-owr
ers have grown rich, and are at this yer
time increasing their wealth by sendin
here to Phoebe products of their so
which could be produced in abundant
right in Lincoln county,
few years hence, when farming lane
in this section of country are held
from fifty to seyenty-fve and huntlre
dollars ain aere--as they certainly will
men who are to-day precariously ekin
out livelihood prospecting or toiling i
the deep-down shafts and drifts, will loo
around them, with a sigh, and say. :.
was here when could have got one
these valuable homesteads for song.
And then, too, it will be said here. as
is to-day in California, "the men wi
have bad faith in the future of the cou
try, and have bought and held real estat
have almost invariably become rich"