The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-05-03
r..cS,nr n Bubble.

ihA, mo. WHICH CLAIMS TO BE NE.
VvSu 49,, rsv AND A" COMMERCIAL CENTRE,
wn,cu. 10 rus EXTENT or TWO
aNp re , Raid swINDLs-soME FACTS
M, wut SHOW THAT ALL Is NOT
ru,r nrIrTERS--now MuCH OF LsAp-
~ re aexvINg, AND HOW MUCH MERE
INITIATION. ~,
tI.,nruty. Aprl 2i.-Lesdyille to the
.."~, ~ three fourths OF its population,
~ mis- nrices Of real estate. and preten-
.s in regard TO future prospects, Is a
S~,',ss which should be pricked IN the in
,nrcs,s Of truth, honesty, and OF those Gre
snlors peop.e who are easily roped into
~ cor, Of a swindle from hunso game
90 having stock in bogus silver NINE
=, & ,,me that those who are huIrying to
This town in droves should know that al
re,dy everything is trebly overdonc. ana
,hst in coming here with the expectation OF
snSing fortunes lying around loose they are
canning on fools GRAND. The scores OF
Si,anidated, fOot-sore pedestrians who may
n seen on any day between here and Buena
Vista hobbliug painfully toward the railway
terminus; tbe numbers who are stealing
rldes on the ireight.trsins between Buena
Vista and Denver; the iaBumerable host
hn,b mere and al Denver who are without
money or prospects. furnish evidence as to
The redundancy OF population.
By no conceivable possibility can the
Icadvillc mines become as productive rs
The ComSiock mines, in Nevada; and yet
The latter have built UP city OF only some
$4,000 people. Here population Of $4,000 Is
GAINED. Ieadville has the disadvantage
tlstu can produce nothing but silver. II
cannot produce an ounce OF hay, or any,
fling required for The support OF life.
II cannot, II it should have forty railroads,
ever become
A SUPPLY OF DISTRIBUTING CENTRE.
Located within space on not more than
eight miles square is all the country
which will depend upon it for supplies.
The Gunnison country will be reached and
Ted bv the Rio Grande or South Park rail-
way, and the mining districts to The north
and east will depend upon Buena Vista, the
present terminus 81 the Denver and South
Park rsilway, which i a wooden town but
couple OF months old. with a population
Of 1900 has thousand times better pros
peets OF being commercial centre than
Leadville. In fact. the latter has none
whatever, and he who builds his hopes on
them is a eredulous fool.
Reduced to its proper dimensions, Lead
vile will become a mining camp OF from
fifteen 10 twenty thousand residents, and
nothing more. II cannot be either a
"melropolis" or commercial centre"
4 population Of the size Just given will be
sufficiently large for the needs Of Leadville,
when il shall have trebled its increase OF
silver; when it shall produce thirty mil
hons per annum in place OF the p1ltry ten
millions which is now its annual product.
a.. I.
ginn Of Leadyile does not contain more
than about sixteen square miles. This is
enough 10 make the richest mining camp in
the world II il were all productive; but the
chances are that not more than p per cent.
81 this viii! paw for working. But even this
% per cent. will produce from S25,000,00O
10 $4,000, 900 per annum; but when this is
reached, the limits Of Leadvllle's prosperity
will be attained aud this prosperity will
require only the miners to work the claims,
and the few stores necessary for their sup
ply.
With every claim OF 1,5O0X300 feet in 16
square mil, $ 10 full and paying operation q
population If $4,000 would be all that the
labor would require for its ample perform.
ance. There would be a couple Of banks, {
half dozen churches, g good hotel or two
for the accommodation OF occasional visitors
and class OF plain, cheap houses, such al
are usually occupied by operatives. These
some stores, q public hail, and few supe
ri0r houses for such superintendent O
FARMERS in mines who would be compelled
10 remain here, constitute the dimensions o
the Leadvlle Of the future; and Of a futur
which is not more than two or three year
away.
WHO PAYS FOR LEADYILLE.
xrt- n d,.;I liz 81,
swollen dimensions, and made 1t twice a
large as it should be, sending up rents ant
real estate to figures which belong only to
city Of half million permanent residents
is the money OF people who have come her
in The belief that all the miraculous lie
which have been told are the truth. Thes
people are on the streets now-thOusands o
them. They are doing nothing, for there i
nothing for them TO do. But they are 4" leav
ing their money here; they are crowdin:
the hotels, oyerflowing the saloons, restau
rants, and ganibing-houses, and il Is thei
mOney-and not the product OF the mines
which is stimulating the business OF tn
town. They have been inyeigied here b.
correspondents who either are too obtuse Il
take In the situation, or else who knavishl,
assist in pushing the swindle upon the PEG
pie. Men who baye mines to sell, or rea
estate which they wish 10 unload, visit tn
East and induce capitalists 10 buy at inordi
nate, fictitious values, by holding out q
them glowing but oyefdrawn accounts o
the growth and future OF the city.
The Little Pittsburgh mine is case II
point which goes TO show where some q
the money comes from which is used in Civ
Ing Leadylle its send-oh. The notorious
ex Senator Cbaffbee engineered the job. HI
I'll oil .Cn
Of a party OF capitalists from the Atlanti,
TO Leadyille TO look over the mine. o
course they looked it over, but not beinl
experts they could not tell whether 1t wa
worth
NICKEL OR TEN MILLIONS.
II was stocked for 100000, 900, which is
at the veiy least, four times what the amour
should have been; and there is no doub
that dividends have been paid from sales o
stock instead OF from the earnings OF tn
nine.
The history of the collapse OF this eyre
gious swiude Is well known to the public
What was done in the case OF this min'
has been done in others. Mines have beer
placed on the market, and the shares sold a
high rates, which are not worth the pape
| on which the shares are printed. But al
these things bring money ana people u
Leadvlle; and hence the present apparen
prosperity.
There is abundant evidence that The Lead
vile bubble Is about TO break. There ar
in town from five 10 ten thousand peopI
who will move into The Gunnlson regioi
The moment the snow in the mountail
passes vii! permit travel. This VIII remoy'
from an eighth TO a quarter OF the popula
lion within the next sixty days, and tber'
ii IS no reason TO believe that they will eve