Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1876-07-19
THE MINING SCARE.

The silver dollar and the low price
of stocks continue to be the absorb
ing topic of conversation with all
classes of people. Whether the mines
are going to cease operations and
stocks are going to the dogs is a
question that affects in greater or
less degree the pockets of every
Comstocker. Here nearly everyone
deals in stocks. Stock sharps are
now nonpleased. No Logger the
wiseacre who knows all about how
the market, is to be seen giving adj
vice to the unsophisticated inquirer.
Ali are alike befogged by the kuotty
question. Reports are so conflicting
that one can scarcely form an intel
ligent opinion on what is coming.
Some have confidence in the final re-
suit, while others have quite lost
faith The continued depression in
the price Of silver in London-the
ruling market in the precious metals
is surely dispiriting. Yet there is
some consolation to be drawn from
calm survey of the question. Those
spasms in the current of commerce
are nothing, as general thing but
spasms, from which recovery is
sure, without even the application of
the simplest remedial agent. Silver
as merchandise has fixed intrinsic
value below which it cannot 60 even
in panic like the present. Its use
in the arts alone will keep it up to q
price that must be regulated by the
cost of production. as the price of
every other commodity in the market
is regulated. Of course it will take
time to bring about this adjustment,
but meanwhile silver cannot GO
down to nothing. The chances are
that it has reached the lowest ebb
now. For it must be remembered
that it is circulating medium with
a great majority of the people of the
earth, who are not likely to give it
up this year or the next. When We
pass in review these facts and circum-
stances we perceive brighter pros
pect opening and are forced to be-
lievc that the present is mere
ly spasm from which the
coast will recover in short while.
In season of depression like this
newspapers are given to sensational
reports, which add to the general
gloom and do no possible good. The
puolic demand information upon the
all-absorbing topic, and the paper
that gives the most of it and presents
the most startling array of plausi-
bili,ies is considered as serving its
RAIDERS faithfully. Hence we find
all sorts of rumors afloat in the press
of San Francisco touching the mines
Of this regi.n, and some of them are
Pigments Of the most gossamer kind.
The public should pay very little at
,eniion to them. They should re-
member that the controllers OF the
stock market are rich men, and rich
men sometimes influence the utter
ances of newspapers to bring about
the ends they may for the time
have in view. One of these sensa-
tional and senseless reports we pub
fish elsewhere in this issue. 1t will
be seen that n gentleman who lives
in San Francisco pretends to be able
to give valuable information as to
the condition of the bonanza mines
The story of the use to which dia-
mond drills are put is plausible, and,
ii true, is enough to take the nerve
out Of stock dealers. But is not this
man bear of great magnitude, who
is short on stocks aud wants to fill
before risei This is an important
consideration, and one as hard to get
the truth about AS To get the feelings
of Eusfar NJ his l1sf moments