Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1885-03-03
mas MINING PAID.

Tia San Francisco Chronicle has
slways been . consistent enemy OIL
stock gambling. and during every dea
for the past decade has been on the
"bearn side Of the market. Its course
has doubtless been the means oil saving
many sxcitable persons from the loss OF
their money, aud to that extent 1t Is 70
be commended. When, however, II
seeks to discourage all mining. says the
Los Angeles Express, it takes ground
against an entirely legitimate interest,
and one which has added so much to the
wealth of California and the facihc
Coast that it is difficult to estimate what
the difference would have been had there
never been any mining discoveries. The
figures which il produces to show thai
the aggregate profits Of the incorporated
mining companies have been small, or
nothing a. all. are misleading and incor-
rect. The Comstock mines, for instance,
are credited with sl39, $50. 500 in divi'
dends. and are charged with 500, s9S. rs
in assessments, leaving q net profit OF
something less than $50, 200. 600. The
Chronicle says: "It is difficult 10 con
ceive Of any branch OF productive in
dustry where the returns would be 80
absurdly small from 50 large an invest
ment. II the ninety millions had been
invested in manufacturing they would
have returned ten times IS much to the
investors 1t should be recollecsed that
this $50, 000, 900 has not been idle. IL
has been employed in developing other
indGstries aud resources Of the Coast,
and has. with the other money derived
from the mines, been one OF the most
potent factors in building up the city OF
San Francisco. A large percentage OF
the handsomess buildings Of San Fran
cisco have been built from money taken
directly from the Comstock mines, in
clading the Palace Hotel. the Baldwin
Hotel and Thesser. Nevada Block. the
Stock Exchange, Senator Fairs new
building at the corner OF Sansome and
Pine streets, and indeed . good share Of
the other handsome structures along
Pine. California and Montgomery streets
The city and its beautiful suburbs Of
Oakland. Alameda and San Jose are
dotted with handsome residences coming
from the same prolific source, or from
money meds in trade with the mines
Nearly every county in the State has
received benefits from Nevada mines in
the same direction. Los Angeles being
among the number. The railroad from
that city 10 Santa Monica Vas con.
strueted from the Crown Point and
Belcher BONANZA. and subsequently, passed
into the hands Of its present owners
Some 81 the handssgaess private resi-
denees and groands in that county were
fitted up with money from the Colnstock
mines Without entering into the sub
Jet Of the vast benefits to the Psci6c
Coast. to the United States and 10 the
world which have accrued from the pro
dactlcn OF twelve hundred millions al
dollars BY the mines Of California, three
or four handrsd millions by those Of Ne
vadA. and some hundreds OF other nj.
hons by other Pacific Coast mines; with.
ont takiag into account the magnificent
markets which have been created for
agricultural prodacts. and for local manu-
f~actares. keeping thousands Of men en-
ployed At rsnunerative wages in those
parsaas which were but indirectly con
neesed with mining, we deny the
accuracy Of the Chronicles 6gares IS to
the amounts which have been collected
iron stockholders by assessments.