The New York herald., 1874-08-30
LAKE SUPERIOR MINES.
Life Among the Mineral Regions by tho
"Big Sea Water"-Low Credit In tho
shafts-Tho Magical Island of Silver
and It's story-Scarcity Of Tourists.
LAKE SuPERIoR MINISC REG1oNsl

LAKE SUPERIOR MISfSG REGfoNs)
MARQUETTE, WIS.,, August 81, 1874.
The extent OF the mining Interests and capac-
ties OF the Lake Superior region can scarcely be
Compensated save by those who have visited tho
district and have come under the influence OF
these vast industries, to which everything else In
the vicinity Is subordinate. The present seaso1,
however, has been dis ,strous here. The miners
and manufacturers are discouraged The capt.
tallsts are dischargng their workmen, and
many OF the best miners have lett the country,
going California, where miners are said to be In
demand, or seeking work In other districts nearer
by. Those OF the mines which are IN operation at
oil are working on half time. Mines which usually
employ four or five hundred men are now getting
along with two or three hundred aud threaten still
further reductions. One mine near Marquette
dismissed ninety-two men this week.
THE RECENT PANIC.
All these troubles are traced 10 the recent panic,
which led to suspension OF new railroad enter
prlses and 10 q consequent reduction In the de-
mand Tor railroad iron. The stock on hand at the
time OF the panic was largely In excess OF the
real needs even In the most nourshing state OF
the market, and it Is not expected that business
Will revive ior SIX months at least. In the mean.
time, it Is the workman, OF course who must
suffer, while the owners and iron masters W ose
goods are not OF the perishable order. can calmly
await more prosperous times.
AN ILLEGAL CURRENCY.
There is another trouble at present in the mining
regions 1t relates to the circulating medium IN
use there. For some years the different
companies have been in the habit of issuing
notes OF the size and general appear.
ance OF greenbacks-"draIts" they are
called-which took the place OF national or
State paper money. These notes were printed
by the American Bank Note Company, and are
tasteful III design and fair in execution. With
these notes the companies would ray their en-
pioyes and the "iron money"-another local name
for twas received without question by the
tradesmen OF the region. When the panic came
these notes were amended so as to read 'at sixty
days. sight" or even "at ninety days sight" At
o:cc they deprecated, though the employees had
to take them at their full nominal value. II a man
objected 1t easy to tell him be could take that
or nothing, and Il no gave further trouble II MAS
quite as easy to dismiss him. In short, the poor
miner had 70 accept this depreciased money OF
nothing at oil, the employers declaring that they
cou.d not get greenpacks. But AZ their own
company a,orcs' they refused to. taks back their
own issue save At q discount, thus practically
'shaylng' their own notes.
Now ell tEia hanking syssem thus carsied on 10
wholly Illegal BY the uaited States revenus laws
the issuers Of these snlupasters are liable to tax
Vl tSu PES S2at VI th6 0uAluAt FhA0S " bU WoUSy
thus issued, Lately the govern ment has taken the
matter in hand, and II the law should be eniorcsa
many OF the mining companies, IL Is said, VIII be
ruined. IN the meantime as usual, 10 Is the woyx.
man who suffers. His wages small at the best
are curtatled by tue use o. an irresponsible and
It's shinplasters are worthless, and / have seen
many dollars oil such money now held assouvenlrs,
and actually as valueess as Confederate notes OF
bonds.
TIE HISTORY OF MINING
in the Lake Superior region Is extremely interest.
ing. When the French held all this territory, go
years ago or MORE the celebrated Colbert caused
researches to oe made, aud the presence oil copper
was then lully demonstrated 1t was not until
1S45 that iron mining began to receive its develop
ment. The IRON region extends rom Iron Noun
Bay, distance OF about Ice miles. In this district
are probably the
RlCuEsT IRON DEPOSITS IN TIE WORLD
The jackson Company was one OF the first in the
field Ii Is devoutly believed by all the people
here that this region Is TO become the iron centre
and the Republic the oiner leading
mines. PROBABLY over 100 mines hare been
product OF the Marquette district for the year
1873 may be roughly estimated at Sl0,000,000;
while the product rom 1885 10 1873 must nave been
at least S55, 100000. Most OF the ore aud the pig
iron produced here is shipped to Cleveland aud
other ONO ports: out II Is believed that with the
great West Will be the principal marSet Ior Lake
Superior iron rne miners are mostly orelgners-
scdndinavlans, Irish, Germans and Cornish men.
Tney are generally quiet, law-abdlng set of
people though verv Ignorant. Some OF the COM
WoIkmen. but these advantages are not always
appreciated.
are quite distinct In ownership from the iron
mines. They issue their own money, which IS
looked upon with distrust in the iron districts In
copper mlting shares there Is much speculation,
LuL the iron shares are seldom to be IOuud In the
market, the holders generally considering them to
last Year declared Maidstone dividends, but It i,
very doubtful whether the year 1874 will be as
bOunteou5 to the shareholders;
There Is Still another phase or Lake Superior
rlinins-thc search Tor silver Tue silver re iion Is
quite limited, the richest mines being the Cana
dian shore. Prominent In the history OF this in-
tustry Is
THE MAGICAL ISLAND OF SILVER
the history OF which reads Ike bit OF fairy ro-
Silver lset IS a small rock rising just above
the water, about hall mte from tie main shore,
pecting Tor silver. Here q splendid vein OF
iron ore was discovered at the top oil the rock, the
cited dlscoverers, aftac preliminary preparations,
began to sink Il shalt IN the dry spot on this tiny
sIs when WI Is oay o w square eet IN extent
could not trouble them; but when they
lucky storuu overthrew the boarding, inundated
the excavation AID nearly drowned the work men.
Tue wa er lroze and the work had 20 pc suspended
1or while. rne owners became discouraged and
sold the lsseJ To an American company for Sl25,000.
corporation was formed, called The Silver
lslet Mining Company OF Lake Superior. with a
capital OF $2,00O,000 divided into 10000 shares or
500 each In May, 1884, the wok was renewed.
Inc mine was worked unoer great disadvantages
from one narrow shaft out this was gradually en-
larged, until the workmen ale now between 500
and 400 ieet below the surface OF Lake Superior
There is AT present quite a village on the main.
land near the lake shore, anu silver Isiet Is a
constant source OF wealth to irs owners
rue product ior 1871, ~ and '73 is vaguely
estimated at s2oJo,O00. AS the demand tor
silver is as great as ever, and is not subject 10
the influences which have caused such great fall
ing OF In the iron amt copper trades 1t Is Iair to
assume that the profits OF 1874 will be In due pro.
portion. Ihus this enchanted isle realizes the
dreams OF oriental fancy. Aladdin could have
proat ably exchanged his lamp tor this bit OF rock
ON the bleak Canadian coast. There are, by The
way. on the main land on the north shore some
eighteen or twenty otner silver mines Uf varying
richness Before closing the brlel history OF silver
Islet IL slould be mentioned taat the area OF the
island has been artcialiy increased rom less than
One.slNtn or ali acre 10 over TWO iu acres
steamboat traffic Is falr this year on the lakes
as regards lrelgnt but there Is an unwonted
SCARCITY OF TOURISTS.
mi Ip hny ppr, 1 ~ pad to Ia