The Arizona sentinel., 1879-08-02
Is the Present Mining Interest a
 E3ubbIe2
Bubble 2

AS tHc FTcScnC u1Ain& interest 2
 f5ubbIe2
 There are one or two of the New York
 daily papers, notably the Tunes, which seem
 to be Ver-c0nseientious with regard to
 the present interest in mining matters,
 and to regard every mining property
 offered to Eastern capitalists for invest
 neht as but a scheme by winch the tn.
 wary are to be entrapped, and therefore
 to be avoided, as t is said the gentleman
 in black avoids holy water With our opi1ion, which has been frequently ex-
 pressed. that the development of our mineral wealth is to be one of the chief factors in bringing ur again to a condi- tion of eminent prosperity, We can but believe these journals, what the motive in essrrnin" their position to tre radically wrong. t.lta be prcaen ty in min ing circles # is out nalsIs. a suppose that some unscTg1ulous uals will fake advantage of tha si ne times, and atttmpt to foist graa he public mines which only exist in imagination, and investments which will ne perma- nent-that is, permahent loss. We are, ourselves, on the track of one or two of these schemes, which we intend to thor oughIy ventilate when we have obtained the facts tha: will warrant us in exposing them. Allowing this to be the case, how ever, we believe that the majority of now offered in the Eastern market have a legitimate value, and what ever mistakes may be made will be made | in the direction of too heavy capitaliza- ton. Even this mistake is not all-impor- tant, after all, for no matter what the os- tensible capital stock of mining con- pany may be, the price of the mine, at least the current value of it, is regulated by the price at which the stock may be selling.
 As we have said, we believe the majori- " of the properties offered have leglti- n ate value, greater or less, depending lpon variety of influences principal Imong which Is the condition of develop nent. These journals, which seem to ,ery much dread the idea of anybody be- ng the loser in mining speculation entirely forget that the condi. ions which surround mining for gold and liver to-day arc entirely distinct from r he conditions which surrounded the xcitement of twelve years ago With he growth of our railroad system, which as opened up the then comparatively nknown sections of Colorado, Utah, iaho, Nevada, and other States and Ter. tories has come discoveries of mineral ealth in these sections then little dream 1 of, and there is every evidence to be- eve that the discoveries which have olCtOiOiO ouf>Oh piuSC ulC UuU ClC IOTcE lowing of those which will come in the u gar future. Within the next five years '' Id possibly much less, Arizona and New V eXico will, in our estimation, come to the u ont with such showing of mineral r posits as will put others in the back. u ound. But no matter how valuable o' CSC discoveries may be, whether in '' dorado or Arizona, they cannot be Si ilized, cannot be developed into wealth. o' without the aid of canitaI does not show good judgment, in our timation, then, for these journals to Vt aracterize the present interest in min- WI : as bubble, which will burst sooner oi later, for We consider it to be founded IS on legitimate basis, and to be rro- III ctYo of great benefit 10 the country II well as to individuals, at the same time ''a ''siaG ali investors to examine invest l.'' nts offered them with the same care n3 . y give to any other business enter s.l se.-Ecoaomist. .,