The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1879-12-04

.eral of the Territories and States on the
Pacific Coast. While the yields in Ne
wada and California were shown to be
temporarily less than in previous years,
the production, as a whole, is yearly
greatly on the increase.
In considering the figures represent
ing many millions every month taken
from the mines lying in and west of the
Rocky Mountains, the question natural
ly suggesting itself is, Who gets this
money!
From the early days of the gold dis
'coveries in California, it has always
been difficult to tell whittier the precious
metal drifted and into whose hands it
ultimately fell. Observation shows that
miners, as a rule, accumulate but very
little wealth, and nearly all the original
discoveries of gold now living are in re-
.duced circumstances. Where, then, has
all the gold gone to?
1t has evidently mostly tioated East |
in various ways. There was the young |
fellow that came West in the early days, |
made his $1,000, $4,000 or 100000,
and when he went back to see "the |
girl he left behind him" the parents |
persuaded him that he had made enough |
and had better settle down beside them.
And so many a hamlet, village and city
in the East has its lucky gold-seeker
now quietly living in their midst.
Again, in perhaps majority of cases,
miner discovers a mine" prospect as
1t is called. The next effort is to de-
velop it, twill take weeks and months,
probably, before any return can be
made from the mine, even if it proves
rich, which is uncertain. The discOv
.erer is poor, in most cases, and he must
have money to aid him in developing
his " find Forthwith an interested
party goes East, where money is found,
a company is formed of two, three or I
more persons, the interest being taken
by parties living in the East, who there
by become the owners of the mine.
Thus a majority of all the mining in
terests of the country is owned by peO
pie living abroad, who thus receive the
mineral wealth as rapidly as 1t Is brought
forth. So the gold and silver float away
mostly to Eastern cities, but not all of
it. Much has gone west of the noun
tains. The Chinese have shipped many
millions to the Flowery Kingdom and
dozens of millions are in the hands of
the rich men of California now resident
in the large cities on the Pacific Coast.
Over one hundred millionaires are now
residing in San Francisco.
1t is interesting to study the history
of these rich men. Interesting, because
the owner of great wealth is always the
possessor of power which instinctively
commands our respect; and interesting
because, as the seekers of wealth our
selves, the successful career of these
men in the pursuit of riches is matter
often profitable for us to examine.
Going back to the history of the coast,
we find one of the earliest millionaires
to have been
JAMES LICK,
a native of Pennsylvania, who, in his
early years was piano-tuner in New
York City. Subsequently he drifted off
to South America, where he not only
tuned but successfully sold pianos for
Philadelphia manufacturers. Hearing
of the gold excitement in California, he
converted his possessions into money
and came North, arriving in San Fran
cisco in 1S47 with $50, 900. Lick was
then 81 years of age, and the money he
possessed was the savings of a lifetime
of close industry and economy. 1t had
cost him too much to be gambled away.
He surveyed the situation on his ar
rival, and, concluding that San Francis
co must become the metropolis of the
Pacific Coast, he resolved to invest his
money in real estate and abide the is
sue. This city then had a population of
1000.
His first investment was in lot on
the northeast corner of Montgomery and
jackson Streets, for which he paid So
600. He subsequently sold portion of
this lot to Duncan, Sherman & Co. for
$4,000. During the early years the
town was frequently almost deserted by
people, attracted to the various mining
camps, but through it all Lick continued
steadily a dealer in real estate, buying
when every body wanted to sell, and
selling again when people came back
and every body wanted to buy.
In time his estate became worth sew
eral millions, prominent among his pos
sessions being extensive Touring mills at
San Jose, costing 100000, and the
Lick Hotel, one of the most expensive
of the large hotels of this city. BY his
will he returned to the State and the
city the fortune he had made here, to be
appropriated to various charitable and
scientific Objects fortune the result of
steady purpose in one direction.
LELAND STANFORD,
the eighth Governor of the State, was
early in the history of California prom
inent man. Stanford was from Albany
County. New York. Possessing a knowl-
edge of law acquired at a law office in
New York, he came West and settled in
law practice for four years in Port
Washington, Wis, following which he
came to California in 1852. He at once
repaired to the interior of the State, Sc
cured mining interests in Placer County,
and connected himself with his brothers
in mercantile interests in Sacramento,
which city for many years was his home.
A checkered but successful political eX-
perience has been among the incidents
of his career. The GROWING success OF
mis- life, however, the result of steady,
persevering purpose, has been his work,
aided by others, in the building OF the
great Pacific Railway, which now spans
the continent and unites the East and
the West.
Stanford presides at the office of the
Central Pacific Railway as the presi-
dent of the company, lives in an ele-
giant residence in San Francisco in the
winter, in charming suburban home at
Menlo Park, Cal, twenty miles from
here, in the summer, and is estimated
to be worth 100000.
rn,rO W