New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-06-21
THE NEV SILyEa DLSCOrERIES.

The vivid letters appearing IN The
TRIBUNE from star correspondent in Colorado.
another of which we PRINT this morning.
furnish much trustworthy Information about the
new mining camps, and afford basis for estimates
of the amount of silver that likely to be thrown
upon the markets of the world from these fresh
sources of supply. Our correspondent shows that
while there have been greatly exaggerated reports
published as TO the value of the Leadyille dis
coyeries the mines of that group are, in fact, eX-
ceedingly productive, and according to the opinion
of the best experts, not likely to be soon worked
ont They are certainly the most valuable deposits
of argentiferous now beng worked in the
United States, and are probably unriyaIled in the
world The output this year is estimated at $l0,-
600 900, and there is good reason to think it will he
considerably increased another year. About four
teen miles from Leadville a new group of mines
has been opened recently on Ten Mile Creek,
which promise alargc yield The Gunnison region.
on the western slope of the Rocky Mountain water
shed. eighty miles from LeadYlle has created tue
latest excitemsnt. No mines are yet open there,
but the prospectors claim to nave made discoveries
that promise greater returns than those at Lead-
willie.
The remarkable feature about all these reports is
that the silver is found in carbonates of ead-a
mineral which was previously supposed not to con-
tam enough silver to make it of any account the
miner. Now the question naturally arises whether
in the old silver regions unexpected wealth may
not be found IN carbonate strata. There will GER
tainly be an active asSaying Of car6Onates In all
the old mining camps this Summer. Leaving out
Of the consideration any results that may come
from such investigations, it is evident that we
must he prepared tor heavy increase in the worlds
annual production of silver Besides the Leadyille
region, the boundaries of which arc not vet we'll
defined, and the camps with their largo pos
abilities, there the san Juan country in Southern
Colorado where true is,ure mines were discovered
five years ago. Lack of transportation facilities
has crippled enterprise in that section but the rapid
progress of the Atchison, Topeka and Santa F6
Railroad IN the direction of San Juan is causing
fresh activity in the mines. and the output this
year will make an important figure in the total pro-
duet Of Colorado silver.
There is no reason to apprehend that the new
mines VIII produce enough silver the present year
to disturb the current value of the metal IN tho
markets Of the world but if fresh discoveries should
constantly bo made aud there should be no check
IN the present remarkable expansion of mining IN
dustry, it may well be doubted whether tho exist
ing ratio between silver and gold .can be long
maintained. OF course thore must DO taken into
account the increased cost of working the older
mines as they penetrate far below the surface
and the possibility of many of them giving out.
With large allowance for such drawbacks, how
ever the letters of our correspondent make it
almost certain that Colorado is going to stock the
market for silver bullion heavily for several years
to come.