The Cheyenne daily leader. [volume] (Cheyenne, Wyo.) 1870-1884, 1879-11-15
THE MIxINe IxrEREsT.

~ 10 no longer 10 De disguised tnat
mining has entered OIL an entirely new
career in the United States. Our own
people are at last beginning to own and
work mines themselves. Once it was
the habit to run to Europe to enlist
capital in the development Of this great
aud steadily expanding interest. Our
people seemed to think there was magic
in foreign capital, while the science Of
mining, SO far as developed was and
could be in none but foreign possession.
But we have changed all that now. We
have entered, as just stated, on a new
era. There are over dfty mining cor
porations in Chicago to-day and the
number is continually increasing. In
New York and Boston 1t is becoming a
common thing to organize corporations
with mining properties for the basis,
and it is matter Of Botoriety that men
well known in business circles and men
distinguished in public callings are
readily engaging In the new business.
There are two good and sufficient
reasons for. this: namely, we have dis
covered that our territorial area in-
cludes a metalliferous region whose I'M
developed wealth battles conception and
puts estimates entirely out of the ques-
ton, and science is applying herself to
the calculation Of the problem in a man
ner never before known in the history
Of the world. These two great facts
are quiet enough to constitute an en-
tirely new case in respect to the min
ing interest. They bring it to the front
as one of the leading interests of the
times and practically suggest whether
the increasing product OF the precious
metals is not doing more than any
thing else a tthe present moment to
mako the United States conspicuous
and exceptional for the possession of
wealth beyond the dreams Of commerce
and laundering on which England
rest her claims to greatness.
With these two salient facts contin-
ually in sight, 1t is not difficult to un-
derstand why mining is rapidly becom-
ing, indeed has already become a busi-
ness, as legitimate as any other that is
SO recognized. And this being the case,
1t is only natural that 1t should more
and more attract capital and superior
business management. That it is in
fact doing so, the examination of any
list Of genuine mining properties, east
or west, will sufficiently demonstrate.
Men who, a few years ago, would have
shrunk from an open association with
mining business, now come forward TO
lend both their money and their names,
together with their acquired skill in
business management, to mining en-
terprises, which they rightly regard as
equally legitimate with railroad or any
other regular business undertakings.
They do it perhaps not of ..their own
original choice, but because they are
led to see the large and legitimate pos
sibilities.
1t was usual to associate mining
with gambling, because gambling has
heretofore been made SO easy In con-
nection with mines. and all the easier
when the mines existed by the breath
ofrumor only. But 1t would be Just as
fair TO charge upon railroads that they
incite to gambling because, as at the
present time in Wall street, their
shares are dealt In on such an exaeger
ated scale that the banks are warned
by the United States comptroller of the
currency against over-certi6cation Of
checks IN their business relations with
the stockholders. There will ALWAYS
be more or less speculation associated
with mining operations. for the reason
II there were no other, that there Is Q
certain element of uncertainty about
the real value Of a mine. But all that
Ii being corrected as fast as possible.
1t is now an easy matter to form an
approximately accurate estimate Of the
actual value Of mine Of gold or silver
from q personal survey of the metal
that is in sight. The output is easy to
calculate. Those who are looking
about for genuine mining properties,
therefore, for investment purposes, viii
find no serious trouble in attaining
their object at any time.-Economist.