Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-02-16
EUREKA DAILY SENTINEL.
THAT MINING BILL.

The California Legislature has under
consideration two or three bills looking
to the suppression Of stock gambling.
Such is not the pretense on the face OF
these respective schemes, but the effect
of their provisions would practically
amount to the same thing. The whole
tendency of this legislation is to ham,
per and embarrass the business of
stock dealing. The question, there
fore, becomes one OF great importance
to the people of Nevada. Four .ifths
Of all the mining properties listed on
the San Francisco Boards are located
IN this State. The aggregate value of
these properties amounts to several
hundred millions, divided up among
all classes Of people, all over the Coast
and in the East. Any thing calculated
to interfere with the efficiency Of the
channels through which this vast in
terest is made to run in something akin
to commercial grooves, must. in the
very nature Of things, entail a hardship
on a very large proportion of our
population. Nor does the evil stop
here. We are prepared to maintain
that stock gambling has been of meal
culable benefit to the people of this
State and coast. 1t is the only rational
mode of developing our great mineral
wealth. Without the assessment sys.
tenn Nevada to-day would be but few
removes from a wilderness. The cost
of silver mining is so enormoust that as
sociations of individuals willing to ad-
vance the necessary capital to sink
deep shafts and erect the hosting and
milling machinery requisite to place a
mine on a paying basis could seldom,
IF ever, be brought together. Joint
stock companies, however, shoulder
these burdens withouta murmur. What
ten or twenty men could have been
found to put 5 $1,000, 900 in the Bullion
mine, between Virginia and Gold Hill,
on a mere hope, as has been done dur
ing the last fifteen years by a multi
tude of stockholders? By the change
in ownership constantly going on the
whole community contributes some
thing to enterprises of this character.
In like manner has the system
proven beneficial to every Sec
ton Of the State. Indeed we can
hardly see how it would be possible
to develop a silver mine without the
aid of joint-stock companies, and the
Stock Boards affording a convenient
market for the shares. OF course,
there are abuses in the system, which
should be corrected as far as possible,
but it is not true, or in any part true,
that stock dealing on this coast has
been productive of more evil than
good. The system has brought Neva-
ds to o higher state of development in
fifteen years than could have been at
tanned by any other mode in fifty
years. 1t is precisely what has SUBJ
dued the wilderness, built up thriving
communities, aud made Nevada the
most prosperous and highly favored
spot on the face Of the globe. Being
firmly convinced Of these facts, we
hasten to record our solemn protest
against the California Legislature in
terfering to retard or embarrass the
full development of the leading indus
try of this Commonwealth. We are
willing that California shall regulate
her pawn. broker shops and rotten
savings banks, but when it comes to the
mining interests, that source of wealth
by which we all live, San Franciscans
as we'll as all classes of Nevadans, we
must exclaim from the mountain tops
"hands off,"