Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1875-09-15
Tns DIsr MIND OF SECURITY.

GOLD HILL. WEDNESDAY,. sEPr. IS. is7s
TIN Bgsr KIND Or SECURITY.
California journals. and notably those
Of San Francisco. are fslicitating them
solves about the resumption Of business
by the Bank Of California. and the proof
thereby adduced Of tho prosperous and
solvent condition Of that city. This is
proper and very natural. But II seems
TO us that while tho solvency OF the
great monsyed confer Of this region Ia
thus parnded. q little credit should Be
given 10 the causes which render possi-
bio the resumption Of business BY .
large monsysd Institution. and the real
basis Of San Francisco's wealth. II Is
customary for Caliiornians TO speak On
Enthusiastically about ''our gold mines"
''our gold product" ETC., etc.. and in 50
doing they never fail 70 include the pro-
duct Of Nevada. and generally that Of
tho whole eosst. We need not here pre-
sent figures TO provo that to the mines
Of Nevada ID due the wonderful prosper
ity Of Ban Francisco. and the vast wealth
accumulated By her successful mining
operators. manufacturers and traders. In
the mines Of theC omstock lode lies to-day
the future prosperity Of San Francisco.
From them has been drawn the life
blood which today pulsates with un-
abatsd vigor through the veins Of her
husinsss. The silver mines Of Nevada
yearly produce moro gold than the gold
mines Of California, and the machinery
and supplies purchased Of San Fran
cisco manufacturers and merchants by
Nsvada. form = most important. II not
the chief source Of her local revenue
II has boon the custom to talk dip
PANTY Of mining securities; to argue
that they were unstable, and devoid OF
that f1sd value which Is required by
money lenders for collateral. However
this may have been in times past. the
fact II. that to-day, there arc securities
In The market. mining stocks. which are
bassd spon foundations more solid than
corner lots In San Francisco; moro valu-
able than the structures thereon cree
ted. for they represent IN interest
In the measures Of all wealth-yellov
gold and shining silver.
What 10 real estate worth without q
demand therefor? What creates de-
msnd bot prosperity. and whence comes
The wonderful and increasing prosperity
OF San Ffanciscoi Take away from that
city the trsdo OF Nevada. tho millions OF
gold and silver monthly flowing from
our mines to rsplste her otherwise e.
hasstsd Golfers. and half her business
prestige. together with all her solvency.
would soon Be among the 'things that
we're and arc not" Gradually. yet
surely. capital is coming to realize that
mining securities. instead OF being un-
stable and dangerous. are the very best
that can b offered. and that those mon
eyed institutions which. within bounds.
under reasonable limits. advance funds
and help 10 develop tho IMMORAL re-
sources Of this country. not only
gain largely In direct profits.
but stimulate general prosperity and
thus indirectly benefit themselves. Had
Il not boon for tho bold and liberal
course pursued BY tho Bank OF Califor-
mia with regard TO the mines Of this sec
ton, there would have been NO such
important Developments ii have been
made within the past few years, and
the gold and silver which to-day makes
San Francisco the moneyed center Of
half the world, would still lilo hidden in
the depths beneath our streets. wo are
told that to-day money can DO obtained
In San Francisco on securities OF lead
ing mines moro readily than on real e.
tate. Perhaps this Is not 90. hshould
DO, however. for q sub-strstum OF gold
and silver bearing rock Ii surely ~ valu-
able and reliable ~ the sand banks and
mud piles Of San Francisco. In dis
crsditing our mining securities. capital
stands In liz own light. In accred-
iting them Il merely recognizes the
source Of its sslf-accumulation
and DOES justice 10 tho elements OF its
sslf-incrsass. II Ia no wonder that
Eastern people have hitherto refused in
vsstments 10 any considerable extent in
mining shares. while o majority Of San
Francisco banks refuse them n sscuri.
Ties. They are to-day. and have been
for yssrs. better security and more 70
liable than any gas or wator. or mil
road, or hank stocks In existence. and
for the simple Isl that they repre-
sent mot Hypothetical but actual values,
with constant possibilities Of marvellous
increase.
TEE San Francisco Cal thinks that
The indications at Washington now are
A. A. N.~ktou.I ~,-.u.- iii