Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1880-11-21
~PERMANENCE OF MINING.

An illustrious failure now and then
may temporarily retard investment, but
it cannot permanently check the onward
march of the great mining industry OF
this country, which is steadily year by
year gaining strength and volume in ex-
act proportion to the education OF the
American people on the subject. Min
ing is still in its infancy in the United
States. 1t presents more magnificent
OPPORTUNITIES for the requirement OF vast
fortunes than any other pursuit under
the sun. The New York Mail well says:
Il the failures, so-called, of the Little
Chief, Chrysolite, and Little Pittsburg,
after practically producing $4,000, oo
and returning at least 81 ,000, 600 to orig
inal locators, owners, or purchasers, after
employing for twenty months and more
from 1900 to $500 men; after expend-
ing millions in supplies, labor, and ma
chinery; after largely fostering the ere
ating of a city OF 10000 inhabitants, do
ing the development and exploitation OF
a busy community OF at least 100000
active persons, and representing an IN
vestinent of not less than $50, 600, 600 OF
Eastern money: after encouraging the
construction and operation OF several
hundred miles OF railroad and causing
within these two years Of active work
the movement and Expenditures OF at least
SO, 900 adventurous persons, seeking new
careers and fortunes-we say that the
present depression OF the securities
named, whether they be temporary or
permanent in character, are not to be re-
garded either by the investing or general
public as an evidence Of the failure, now
or in the immediate future, Of the great
industry of bullion mining. The evil
dence multiples on every hand that the
contrary is the case. From every part
of the vast mineralized area which is
found between the foothills OF the
Rockies and those of the Sierras, down
even to the Pacific Coast range-a stretch
of over l,00C miles east and West. and
from Alaska to Slnaloa in Old Mexico, a
line of over 1900 miles-we have the
proofs daily brought before US of the sa-
gacious eagerness with which capital,
mainly from the East, is pushing its long
arms into every corner Of the area named,
and aiding in the endeavor to wrest,
from the rude breast Of the plateau, and
foothills, the secrets of Pactolus. And
the wealth of California, too long held
as a means Of gambling in the Comstock,
and thereby draining all classes OF their
hardly saved suPeriuity, or even neces-
slty of hoarde& cash, is now engaged in
freely opening new fields OF mining en-
deavor and enterprise. The investment
Of capital in mines and mining is not ION
phia or Chicago. Every day brings
the record OF enterprises fostered by all
parts OF the prosperous North and East.
Even the South is contributing. OF
curse there will be many more failures,
as there have already been, but the fact
We have all along insisted upon becomes
more and more self evident-that is, that
mining for the precious metals, with all
Of the development and growth. that it
inevitably brings, has passed permanent
ly into the rank of n OF the greatest OF
N,%,z-.l . .
can for long seriously effect its credit.
Too many other industries and interests
recognize their relations to its prosperity. p"