The Elk Mountain pilot. [volume] (Irwin, (Ruby Camp), Gunnison County, Colo.) 1880-19??, 1880-08-26
.GOLE AND SZxEER rRODUC-
HON.

WIZ AND 0kLIEN <AODOI-
TON.
Mr.. Sherman, Secretary Of the
Treasury, told the NewSYork Chamber
of Commerce at its anniversary dinner
in May, that "it is now established
that the mineral resources of our
country are greater than the widest
imaginings Of few years ago." The
Secretary evidently felt in romano
ing mood, since the phrase widest
imaginings" is one that at some time
or other must be subjected to the re-
straint of limitation. We have had
a gold era in this country, beginning
in 1S4S, and our silver era began in
1861. In the days Of the great gold
discoveries, which occurred almost
simultaneously in California and Aus
tralia, apprehensions Of a fall in the
price Of gold were freely expressed.
But experience still showed that all
such fears were baseless. 1t is nearly
twenty years since the discoveries of
silver, and the Washoe region began
to attract attention. In 1868, 5000
silver mining companies had been or
ganized in San Francisco, with nomi-
nal capital of thousand million dol
lars, and with 10000 share holders.
Mr.. Samuel B. Ruggles, Of New
York city, when delegate to the In
ternational Monetary Conference, ad-
dressed letter to the Conference, and
ventured the opinion that "long be-
fore 1900, the annual production of
gold and silver in this country, which
is now about S1oo, 900, 900, may reach
$500, 900, 900, or, perhaps, $4oo, ,ooo,-
ooo." But the United States do not
yet produce o.ooo, 900 annually in
gold and silver both.
The notorious fact is, if that is what
they are delving for, that American
mines do not pour out their treasures
like oil wells. The hope and stay is
rested more on the discovery of new
nines tharin the working of ohe
Even the present amount of either
gold or silver production is ] Nowhere
equal to the increasing commercial
necessities of the age. We may con-
slider it fortunate thing if the pro-
duction of the precious metals is equal
to the urgent demands for curreney.
Large as the present estimates seem
concerning the outcome of all the
American mines, they are meager, and
will be found so, in comparison with
the increasing demand for them.
I We need have no fears of anything
like over production, and may push
on with our mining enterprises with
all the energy and faith that are bred
of an actual knowledge by the light
of experience. Economist:
A sensation was created few days
ago by the announcement of rich
mining strike in Mexican Village,
Las Placitas, about 80 miles distant
from Santa Fe. The village is built
of adobe huts and corrals, and the
foundations Of the houses are rock.
Prospector Jesse Martin detected min
eral in this rock. He pounded up and
hammered some of it, getting rich
result in gold. He located the streets
of the town whence the gold rock
was taken, and had assays made with
the result Of $4,000 of gold to the
ton, the lowest grade of rock assayed
being $43 Gov. Lew Wallace has
lust returned from the place. He
paced off alead, making it 81 PAGES
in width. Its length is not known,
but 5000 feet aiong the vein has been
located. Subsequent assays in Santa
Fe give from $1,000 to $4,000 per
ton. The whole village is built on a
ledge, and rock worth three dollars
per pound has been thrown out as
worthless.
Mr.. Tenase, of Hardscrable, Custer
county, Colo, went to Paris to see
the sights. Mr.. Tenase had herded
cattle in the Hardscrabble for twenty
wears and had amassed fortune. He
took with him SO, 900 when he went
to Europe. One his way to Paris he
made the acquaintance Of three fine.
fellows. one of whom asked Mr.. Ten