The Elk Mountain pilot., 1881-08-11
HISTORY or GOLD AND ST.
YER MINING ON THE
PACIFIC COAST.
From tho Boston Economist,

n O11xO y OOdo L.
From tho Boston Economist,
1t is now little over thirty years
since mining tor the precious metals
began to be beactively prosecuted on the
Pacific coast. At no time, relatively
considered, has the number of people
or the amount of capital employed
been large, yet the value of the bullion
produced aggregates little over s2,-
900, 900, 900. The exact official COM
putatlon of the gold product OF the
United States from 1S47 to 1874 was
$3.50, 100000. The average annual
product of gold and silver on the Pa
clic coast, since the beginning Of
mining in the year 1S49, has been
$67, 900, 900; the annual yield at this
time is about $40, ,oeo, 900, and
this output is constantly and rapidly
increasing. No one who is even
moderately well informed as to our
mining capacities entertains a doubt
that this yearly product will soon rise
to s15o,ooo,coo, and even to $780,
ooo,o 900.
1t is commonly accepted opinion
that the opportunities for embarking
capital in mining are not so favorabls
at the present time as in times past.
This opinion is wholly unfounded; be-
ing based upon an entire misconcep-
ton of the actual condition of affairs.
Everything considered, the very re-
verse may be said to be true. Not
only labor, but all the other factors of
production are much cheaper now
than aforetime, while the mines them
selves have undergone no correspond
ing depreciation as regards either
number or value. They have, in fact.
been greatly multiplied, exploration
having every year largely extended the
area of our metalliferous domain,
which now covers, in scattered way,
very nearly 100000 squarc miles.
During these thirty years that the
people of the Pacific countries have
been engaged in mining for gold and
silver, they have learned the business
In all its branches thoroughly and we'll;
none know it better. From the null
tltude that thronged to the Pacific
coast In the time of the gold fever has
sprung a class of men who are the mas
ter miners of the world. They COM
prehend its difficulties and know how
to meet them. They have, in fact.
advanced it beyond the point reached
IN any other country. The mistakes
and errors and costly experiments of
the past have led to inventions and
Improvements which have made the
mining of to-day as truly wonderful
as they are effective, and all that is
now required to make this branch of
mining an eminently profitable and
every way satisfactory business is the
observance of the same caution, close
supervision, and exacting economy
that is absolutely necessary in the in
auguration and conduct of any other
business pursuit. Gold and silver min
ing have gradually been reduced to as
thorough business basis as any at OF
trade in the country; while in wise,
resolute and skilful hands, they prove
to be far more profitable than any
other branch of manufacture, COM
merce or trade. The profits attend
ing prddently conducted, legitimate
mining are apt to be large. Money
judiclously invested in this business
pays from 200 to 500 per cent. more
than IN almost any other. The net
earnings Of we'll managed mining en-
terprises, while equally certain, are,
compared with those of most kinds of
manufacturing industries, as 10 to I.
OMAHA, August General Crook,
commanding the Department of the
Platte. has had added to his iurisdic