Los Angeles daily herald., 1886-05-28

The two leading industries oil the
United States which are distinetlvely
popular are mining and agriculture.
These are the least protected OF all
the great factors Of our national
wealth, and they are in the hands oil
the toling masses. A recent issue OF
the New York Mining and Financial
Record presents this view of the mat
ter in very convincing manner,
summarizing the question very hap
pily thus: "With respect to the gold
and silver mines OF the Rocky mount
aims, the allegation Of the Detrol,
Ne,cs is altogether baseless. Corpor-
ate capital OF the character referred
TO by the News, as owning and run
ming the railways that handle all the
wheat and provisions Of the West, as
virtually owning and operating all the
coal and petroleum mines OF tire Mid
die States, and az fast absorbing all
the pine lands OF the Northwest and
the grazing lands Of the Southwest
has not grabbed and is not controll-
ing and working the gold and silver
mines OF the Rocky Mountains The
great bulk of the mineral land pro-
ducing the money metals is owned
and operated by men OF compare
lively small capital. II is true, there
are a great many mines owned and
worked by incorporated companies,
but the great mass OF the owners oil
the shares Of these very properties
are men and women OF as small
means as the depostors in our saw
ings banks, while the amount OF cap
ital thus employed in these mining
enterprises by the capital classes OF
the country really is comparatively
small, much the larger part being the
money of a very large number, we
repeat, o small investors.
On the contrary, corporate capital
here in the East is banded compactly
together and, in effect, arrayed in n
strenuous effort to render the silver
mines OF the Rocky Mountains worth
less to their owners and as unproduc-
tive to the country as If they had
never existed-an effort, we may add
which would, if successful, at the
same time, cut off $3.50 per cent. OF
our yearly gold product, that is, all
the gold now won every year from
silver bearing ores, with about w.
900 900 worth OF lead, an important
by-product of our silver mines. That
is to say, the incorporated capital ac-
cumulated during the last fifteen
years in the hands OF about ten per
sons to the extent OF $750,000,0 900, in
consequence OF getting possession OF
the chief lines OF railway transport
tion-largely by devious practices
and methods-together with that
vast volume OF money massed and
welded by the comparatively small
number Of corporate officials who
control the banks OF New York, Bos-
ton, Philadelphia and Baltimore with
tho aggregate capital OF fully $780,
fO00, 900 coupled with the use of de-
posits attracted by their corporate
privileges to the average extent OF
$3.50, 0O0, 900, is organized as whole
for the maintenance Of destructive
war Poutrdnce against the silver
producing interest and industry OF our
people-an industry and interest
whose contributions to the wealth OF
the country in the half decade ending
December 81, 1885, may be stated as
follows:
silver bullion (Valentine) ..... s2l2. 49, i
Gold from silver bearing ores 1.s6ha%H
Lead ... So,0OV, 900
Copper ib,Ouo'VoV
Total result of silver mining in
Yearly average ...... ,...... b2,G0O,UOO