The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-21
SILVER JIM FAIR.
WHAT THE PRACTICAL MINER THINKS or THE
COMING CURRENCY.

WHAT THE PRACTICAL MINER THINKS or THE
COMING CURRENCY.
From the Burlington (lowa Hswk-Eye.l
Among host Of other distinguished gentlemen who
avaicd themselves OF tho superior hotel accommoda-
tons here spend tho Sabbath the metropolis WIS
james G. Pair OF the owners Of tho Consolidated
Virginia silver mine at Virginia City, Nevada
An ambassador OF the Hack Eye sought and found
him comfortably quartcrcd and paraking OF the good
things at the Gorham House. The caller was At once
invited to be seated, and made known his business,
when, In substance, tho following little talk took
place.
REroRrER-Mr Fair, MS you arc doubtless aware that
the enormous production of your mines OF gold and
silver arc attracting the attention not only OF this
country but the whole world have called a seeker
OF information with reference to them
Mr. FAIR certainly have objections TO telling
what is being done. A residence OF twenty-sevcn
years the Pacific slope has given mo an opportunity
OF watching developments In that quarter The sCom
stock Lode which undcrlics Virginia City is about
miles long and from 400 10 500 feet wide We havo
$4,000 10 100000 We did rather better r March,
the value reaching $360o000 and expect 70 increase
during the summer 10 SIS, O0O0 per month. .rt
REroKrER-How Is general business In Nevada, and
Is there much demand for labory
Mr.. FAiR-virginia City contains population Of
from 10000 to rs 000 and, like many other places,
there great many idle people, but, on the whole,
they arc reasonably we'll employed at fair wages Our
payroll numbers nearly 5000 in various ocalit'es
Some do well, but many arc disappointed expecting 10
get rich suddenly. The great fire was considerable
drawback but tho damage done is being repaired rap
Idly and iherc will be but few traces oft left ~
REroRTER-As you have doubtless given the matter
much thought what are yonr views as TO the future
value oil silver as II relates TO goldy
Mr. FAR--Silvcr has declined very considerably. In
fact for time unduy depressed, touching AZ low
ss Sn that be-
rous apprehension offurther dcprecaton and tho DIFF
will doubtless continue about as at present.
sixteen While the production Is rapidly increas
ing this country that In the rest OF the world Is fall
ing or The statistics for 1875 show decrease the
production OF over $i 900 as compared with
1874 Silver Is good article 10 buy on speculation
when low MS fity three
REroRrKR-rrom what quarter do you expect de-
mand sufficient to absorb this immense production Of
silvery
Mr FArR-A somewhat erroneous impression gets
abroad about mines being all silver IL Is true they
are called xlvcr mnes." while in fact the product
contains in value from forty-sx 10 my per ccn OF
Gold in gold coin. and for the silver VIC receive gold
also; II the market for silver Is 53tsd get about
81 1sk gold Our daily transactions on tho coast arc
almost all In silver, and yours soon will be; IL will
quire $50 600 600 redeem these little rags (holdng
up ten cent shinplastcr). which you people cali
money. China and japan and other countries in that
direction will continue take large amount whIIo
some parts OF continental Europe viii use II as
heretofore In Austria !. is legal tender and their
trade dollar, containing 40 grains Of pure silver, will
60 hence, while the standard American donr, with only
ll2h and the halves and quarters with 3S7, VIII enter
into general circulation taking the place. before
marked, Of these rags This large production will Of H.
sell stimulate the use OF u in various ways aside from
n circulating medium
After some further conversation or the general
character reporter, thanking Mr. Fair for tho In
formation, &C. withdrew
Mr. Fair is about my years Of age, an freshman by
birth, but has long resided in this country Is quick,
ready talker always TO the point, and shows that
he is business all He makes his homo Virginia
City, us does also his associate, John W. Mackcy hrs
other partners James G. Flood and William 0Brien,
reside in San Francisco. The Virginia Consolidated
nine represented by one hundred and eight thous-
and shares of 500 EACH now worth IN tho market $3.50
$40 per share On this basis the value Of the
about $40 600 000 and tho dividends $l2 900 per
~