The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1880-11-24

! pay AT once Many people who have looked with
Interest upon, mining matters have allowed
Outraged because The production Is so small,
compared with the humber OF mines and
mining claims located. and the large mining ter
r tory continually opened 60 the ,prospector and
the miner some processes are slow. aud mining
Is one OF them, In many cases not only IS there a
a large amount of work 20 be done in and about
/ the mine before Il is prepared 10 send out any
ore, but often the location is such that much
labor must necessarily To- expended on. roads To
and 5e m Ife 7n' PSctiSn keny have made
predictions of a sudden Increase in the total pro
I of production win receive no very sudden acces
sim. but will be steadily increased as one mipt
after another after years Of preparation, adds its
soon rs the great number Of mines now being
opened In all parts OF the min
lug country can be put in shape
for work, we may cOnhdenly look for a
large and permanent increase in the amount OF
precious metals produced. and most satisfactory
results from our mines ana mining interests Inc
result of the spirit iadieated-the pressure OF
eager stOck-holds for dividends, and the haste to
force mine to production before II Is in condition
for such purpose are seen In the craze for new
fields the abandoned prospect holes and claims,
tho wasteful methods Of mining only high grade
ore, the Little PictSburg collapse, and more than
all In the danger which threatens the mining ln-
terest growing out of the high pressure system OF
mining operations. mining, real aud legitimate.
partlkes much OF the massive grandeur OF its
surroundings, and has the characteristics OF slow,
gradual growth. and years of steadily increasing
product and value. Plans should be laid 10
reach into the years of the future. for the
the end Of a generation. Mining must nav be
judged by the same standard as any other legiu-
mate busineSs-that of productions: and this viii
not come from prospecting tours but from solid
work OF development, and an output In some de-
gree compared with the amount OF time aud labor
bestowed. No one doubts the ability OF our min
Ing interests 10 make much better showing
than the highest estimates yet given. Capital
SOON will no longer ask how many mines but
hSar- ma Ror SON time m
and talent have been passing into inc gateWaYs Oh
our mini e industry, and IL Is time 70 demand
some measure of the result. The opportunity has
been grand the field has been large; the material
aud means ample. whatanswer shall be maze Tor
all these active, prospective forces Where Is
the harvest they have brought fOrhy What
tangible proof of value can be produced that will
balance the account and make a good showing
for value receivedg We know well the capacity
of our miaing resources, and we know what
grand showing would follow faithful working of
the mines already open; but almost question
the profit or wisdom OF the present interest in
new fields, to the neglect OF those already IN con
ditiOn TO pay for working. A business which
gives a moderate profit Is better than an uIicer
tainty however promising: SO those miners who
have spent months in opening claim are GER
taiuly not wise in deserving il to 60 through the
same Improbable operation in u new place, as
thousands are continually doing. This fever of
the prospectOr aud tina stock eraze of the
speculatOr, has had damaging and an
uufayOrable influence upon the real prosperity
and true value of the mining industry OF the
country, insOnuch us it has weakened and di-
verted the force of production. While an enter
prise Is new. public attention Is diverted toward
il. and every turn and change is noted aud com
melted upon. and little things are magnifed iGto
u Juntslius of calamitcs Soon, mining will tai
its place one of the regular and settled indus
ties, aud the failure OF one mine or ten mines to
give wealth when the shaft was sunk. by ten
IerfJOt. in rock that bears no mineral, will not
herald the death of mining in established local.
ties With the mineral matter of the country
properly developed, and financial policy of the
Government which viii secure the full advantage
to the people of our gold and silver product. the
industries Of the country would never again feel
the crushing force OF a terrible and destructive
financial panic. such as have, in times past. not
Ouly swept away the accumulations aud ambi
tons OF yeIrs. aud par.lyzed every activity. but
have shaken the very foundations oil our National
existence.
NEW DISCOVERIES.
The past year has shown remarkable change
In the views OF a majority OF our people concern
ing mining At one time the mention OF the
name, or any transactions connected with il,
meant furore, excitement craze. when there Is
no industry under the sun which demands more
care, deliberation aud patient waiting for the
slow result. Of time. labor aud general develop
ment. Mining operations have invariably sug-
gesIed speculation, eager anticipation Of sudden
wealth, aud lottery feeling Of chance. luck
AID uncertainty generally. The fact is
tracts Of Ore-bearing territory containing
an immense store OF precious metal, large
enough to be drawn upon for years with
han all, the people nov comprehend that there
is a regular and legitimate process necessary 20
Ibtiin the best results from mining founded
there are no more elements of chance or uncer-
Iainty connected with mining operations than
with agriculture commerce. or any other legiti.
lag to day than any other industry on the face
Gf he 81 be. Statistics show that % per ceut
Of all mere rntile and manufacturing enter
been considered among the most profit
able inves -mcnts. having time aud
sgain received assistance from the Govern
ner'. have paid but ~ per cent per annum on
the capital invested. while mining has paid up
ward OF Is per cent. per annum, in spit OF all !
obstacles Within q short time the keencSt bust |
minds of the country have grasped the vast
imp rance, and the Immense value of this new
industry, and a constant stream of capital has
sought investment in this direction, without re-
gard To the fluctuations of the stock market or
the wranging of the bears and bulls at the Stock
Exchange. With these and many more discover
les made concerning the ruggedest Plainest and
most substantial industries Of the age, we may
now look forward 10 grand results in the new era
of common sense. .. . .--t...
PROSPECTS, Ann PRICES. 4-a!t
One mistake which many prospectors make is
that OF holding the price OF mere prospect hole
az most extravagant prices, so that even if they
lind a purchaser, SO much money has been pad
Tor the prospect that there is none left for the
purpose of making n mine Many new camps are
thus injured by the prospectOr; the claims are
held'at such prices that the investor decides To
seek some more favorable point The increasing
town. starting out uader many favorable
auspices is deserted. not perhaps for better local
tiles. or better mineral advantages. blt for some
place whe the developme ITS OF mine
have made reput Ition and CIV n n notore
fne prO-pector is apt TO estimate his find at
the current valre OF gold and silver for all the
mineral he thi K there on int to b in the claim
and then if he IN likes lib raj discount he IL
siders his offer 'Hirt cheap" while the purchaser
must not only consider the ccss Of the claim, but
also the expense of frst making mine and then
tue cost OF getting ore out and its treatmenti
shipment and sale before he can look for any
priiit fir m his purchase. The day for high and
lreas II ,Dle prices for prospects has passed. and
with Il many other foolish aud absurd customs in
regard mimi matters. Those who are not abb
sorbed in the selfish desire to secure themselves
the largest price for the discoveries they have
ma ie aud have an interest in the development of
their locality and the mining industry, can best
serve that interest by offering inducements for
capital and business enterprise. in demanding
reasonable rates f0t undeyeioped property.
ah SHARKS KSD WfLbcAfs.
Sluce the fortunate change in mining affairs has
driven the wildcats out OF the field, until the cry
OF warning against them Is heard in the land no
longer. and the name is almost forgotten, ques-
ton whether now a note of alarm should not be
sounded auainSt the mining Sharis and n de