Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1876-07-17
The Mining Depression.


touished at reading few days
AGO an article in The Enterprise IN
| which il was limited that in case the
depress,on in the bullion market
continued some Of the miacs now in
| operation would close down. The
srticle was supposed by some to have
been written in the interest OF the
hears of the stock market. How
ever that may I've, il was iiltimed ana
badly considered. Nothing surely
could be said tina: would have u
yves.er tendency 10 send stocks down
to aothing and bankrupt thousands
of small operstors-and large ones,
for the matter Of that. As conse-
ausnce of the report, arum'r became
carrent in Virginia On Saturday that
the Con. Virginia would either shut
down work altogether or reduce the
wages of the men fifty cents = day,
There is no ground tor the rumnr At
all, nor is there any reason to believe
that any of the leading mines OF the
Comstock will be closed down In
consequence of the discount on silver.
The Con. Virginia, as most of people
are aware. yields about two-thirds IN
value of gold to one-third in sill
yer. There is M discount On the
gold two, thirds. Because there Is
discount On the silver will the gold
BE- permitted to remain undisl-rhed
in the groundl Would that kind OF
management, become those Who con-
troll the bonanza l they do not
want e dispose of the silver when
they take i, out they can
cord it up in some secure
place and let it stay there
until the silver market settles down
TO some permanent place. For the
sold can he separated from the sill
yer at very little cost. Admitting
tina. in = few years silver snuui"
rise in value to the price It con,-
manded up to a recent time, all TIL
company would lose by extracting
their bullion and p,l,na up the on,
third to await events would he the
interest on the N .ney ii took to get
it out. AID the interest on the go.l
laksp out with the silver ami sold
Is soou as it was moulded into in
so.s would be Is mnch more than
tue interest on tbs cost of extract
ing the silver as two-thir,ls is to
or double. Then would
il pay to let silver aud gold lie in
the ground because there VAS q dis
count un the silver? Or would
the Con. Vire luiA Company have
10 cut down the wages OF the men
Twelve and q half per cent. be-
cause silver did not bring as
N uch as formerly? rhe shallow
ness of such an assertion Is APP
parent upon the slightest inves,iga-
ion. Those who give publicity Ia
such warns and are not SO simple ss
10 believe their statements TO be
correct may be relied upon As en-
to bear stocks. And If
tue bonanza mines will not shut
down In this extremity no other
non-oie-producing mine will aud i,
necessary TO do so. Such mines
are worked on assessments which
come from San Francisco. San
Francisco and Caiifornians are lot
by the fall in silver, aud
can pay their assessments now a.
we'll ~ ever before. OF course. il
may be reasonably said that there
Is less announcement To hunt for
SILVER mines in proportion as silver
becomes less valuable. But all tie
deep mines Of the Comstock may
Do expected when they encounter
ore To yield the same proportion oi
gold that the Con. Virginia does.
The Justice mine, We understand,
now yields a larger percentage o.
gold. so then il is apparent there
Is really no serious danger to our
mining interests. They will go on
Just the same until by Legislative
or the general course Of
commercial events silver is reiu-
stated to its former valuation, or
nearly 40. What The Enterprise
may say or what street rnmor NAV
circulate will have . Disappearing
effect for the time being, bat that is