The Elk Mountain pilot., 1881-12-15
MINING AS AN INDUSTRY

Mining as ) legitimate industry has
rarely had applied toyit aenia semi
blance.o the ordinary BUSINESS rules
that enter into the other various avo-
cations in which men are engaged.
In isolated cases the ordinary judg-
ment and foresight with winch men
build a railroad, a ssI5 gsIst mill, Or with
which they, equip fleets Of vessels to
traverse the ocean, has been applied
to the production ofthe precious metals
and with results not differing from the
returns received in ventures of ordi-
nary business. In fact the results,
beyond all question, have been even
more senunerativc. 81 As a arale, how
ever, mining is entered into and cas.
ried on with little regard to business
rules, men enter this field feeling and
believing that it is all blind luck, and
that judgment, care and foresight are
exotlcs that do not flourish In the imaar
inative realms1of silver and gold. Men
in the East invest their surplus capital
in enterprises where the promise aof
profit IS small, and about which they
have perhaps, little personal knowl
edge, but they cndeavof to invest it
with men in whom they have conf
dence and who have, by their knowl-
edge and character, so'ac claim to be
recognized. They Inform themselves
in a general way as to the rharacterpf
the enterprise in which they embark,
and at least make use Of ordinary
business rules. But if if'yo4gdto th&e
same conservative ,,:'ti e men an hdeaSof
to interest s ttan in mining If:operty,
what's 'fhe result? You start out, pr
haps, With fair and ressonable state
ment as to the chances, so much 'capi
tai must be used, such and such Will
probably be the returns. You speak
of it in the same prosaic manner with
which you would put before them an
ordinary E per cent. investment YDu
get very little attention. You, per
haps from a long experience, have
pretty well tested the chances Of profit
in. mining, and know that it takes
money, time and patience and in
your honest convictions you aresatished
that the results, as whole, are far
more remunerative than ordinary bust
ness, where skill, experience ano judg-
ment are brought into, play in ike
manner. All this goes for nothing.
There comes along to this same
conservative business man, youthful
graduate from some mining school,
who perhaps has spent & season in
Colorado mining, full of enthusiasm,
knowing but little of the practical
part of the business, and less of the
laws that govern all business transac-
tons, he paints. the prospects in glow
ing colors. He is ready with his esti-
mates Of the ore in sight and just few
feet ahead, millions are to come
from the investment of few dollars
He. talks well of formation, fssure
veins, deposits and what not. The
old mans gambling spirit is up and
he goes in, perhaps to come out
poorer and wiser man. IN
There is another still more danger
Gus character, he is cross between
the rowdy and that noble and deserv-
ing specimen of mankind the genuine
prospector, he dresses perhaps xlistle
roughly and the. ir-of tAgpantans
clings to him. He doSb,tsbt TOO
much, butihe has the art d arousing
the imagination to perfection. You
would think to hear him, talk thatlhe
knew it all. You involuntarily puttim,
down as a shrewd, sensible fellow,
and sou say to yourself, here s a
chance, he. leads you on so quietly
and, by such pleasant paths, but he,
too, assonly opened pit for you,te
stumble into. This same man, if,he,
came to you with a six per cent. Ia
vestment would secure your proroE
and decided refusal. RI f.,
The fact is, mining is business .by
itself, and sitrequires experience, case,
judgment and foresight, precislyas a1y
other business. Not all men ca.
wncEA q c,tcCecc of y,,.o.o~ 80. -.~l--