The Hickman courier., 1876-07-28
s0UTHERNGoLD DEPOSITS.
4 Magnifcent Opening for Noru'o'''
Capital.
Eour Nork JaroId

heW York Herald
The men who are spoken of as bonanza
kings. and whose wealth exceeds that OF
the richest of our eastern millionaires,
were not capitalists when they first en-
barked in the business, but became rien
from what they dug out of the earth.
Our prejudices ought, we admit, to have
been by this time torn away by the
abrasion of facts presented in the ststls
tics of gold and silver mining. From
these it appears that, including all the
losses of the last twenty-five years, ana
allowing at the rate of four dollars per:
day for the labor expended, the sum.
total invested amounts to $500, ,000,Ot o.
while the amount of bullion produced IS.
positively known to be 81 ,6SS, ,000, ,0oO,
and the value of the surface improve
ments is estimated at $3.50, 900, 900, giving
a resultant gain of 81 SIS, 600, 900, wh,,gh
is better showing than can Dtrnale by
any other Of the great industries Of our
country. Indeed, if we apply the test
of 81 per day for labor, every other in
dustry prove to have been total failure.
But the misfortune is that our people |
event in" carelessly and precipitately, |
and went out" just as the business was |
beginning to be remunerative. Years |
have passed on, and meanwhile our
countrymen have become educated to |
the science of mining. The modes of
working are much simplilied the ma |
chinery costs but a tithe of what it used |
to cost, and the process of reducing the |
ore and extracting the metal is 50 much |
improved that the yield Is quadrupled, |
so that numbeTless mines that were aban-
doned as worthless can now lac made to |
pay literally. This is particularly the
case in Colorado, where the ores are ex-
tremely rich but so much more refractory |
than those of Nevada that under the old /
processes they yielded up only portion
of their treasures. 1t is estimated that |
in consequence of these improved meth
ods the product of the precious metal |
throughout the world during the coming |
five years will be equal to that of the |
past twenty five years.
This whole subject is one Of important |
concern to every large property owner
east of the gold-bearing states, for if we
do not furnish the capital required to
develop the mines Of the west and south |
il will certainly be supplied by Calitor-
MIA, and the enormous trade growing out |
of the business will be diverted TO San
Francisco. She is already more inclined
to invest money far away from home, if
it is to be used in legitimate mining,
than we are. If it be objected that
Colorado is too far from us, there are
gold deposits in Virginia, North and
South Carolina and Georgia that promise
a better return for the capital invested
than any kind of manufacturing that
occurs to us, and the product when OBJ
taincd has the advantage OF being the
measure of she value of all other pro
ducts, aud is in no danger of deprecla-
ton. There are gold deposits of extra
ordinary richness in North Carolina that
lie within twenty-four hours of this city
by rall ana can DE WoIhtu 1T OHt-lOuEm
the expense of similar deposits in The
west, and yet in one instance that we
know of the capital required for its de-
velopments is expected to be obtained
from san Francisco.
1t behooves our property owners whose
empty buildings, bearing the legend 60 To
Let" confront us on every block, to
give their attention to this subject OF
San Francisco will possess herself com
pletcly of an industry that Is soon to
surpass every other in amount and i'm
portance. Capitalists who grumble be
cause three per cent. per annum i here
the maximum for money on " call, may
learn a lesson from our young sister on
the Pacific, where twelve per cent. is the
minimum and where tenantess house
is rarity and faded industry almost
unknown.