The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-07-11
MINING As 4 BUSINESS.
Chances That FAVOR 1t When Watched Iii
Other PrODerfu.

Chances THAI Faror 1t When Watched Like
Other Property.
The general public east of the Missouri
river has a very faint and indefinite knowl-
edge of the extent to which legitimate min
ing is carried on in the Territories west of
the Rocky mountains and on the Pacific
coast. Few people stop To consider OF think
where the gold and silver they handle comes
from. 1t may be q crop grown somewhere
for all many of them know. These are the
ignorant. u~nthinklng class, of course, but
there is another. more intelligent. not hav-
ing the excuse of Ignorance. which loses no
opportunity of railing against mining.
Even while handling the product of the
business and exp experiencing its benefits. they
not only decry mining, but do their best to
discredit all who are engaged N the pur-
suit.
This prejudice has grown out of losses
sustained by hasty, ill-advised Investments,
taking the statements of irresponsible
spectators as facts without giving them
the careful investigation that would be
given to any ordinary business project sub
mitted for investment This careless, hasty
method of investing naturally led to
losses, asst would in case of equal neglect
to give time and attention to any other
schemes presented nearer home. A want of
know led ge of the business was more often
the cause of the failure to realize profits
than the want of merit of the property
itself.
If q capitalist contemplating an invest
ment in mining was to give the same atten-
tion to Investigation that he would In the
purchase OF a piece OF real estate or any
other investment. he would be no more
liable to losses; proper care, careful investl-
CATION would enable him to invest with
equal JUDGMENT. As for the average of fail
ures in mining and the ordinary c~allings,
merchandising, for instance, the percent
age OF failures In the latter is much greater.
nnGa hAffAE as n -
better returns. larger profits than any
other form of everyday business. A list of
twenty-five mines shows as profits paid TO
the stockholders since incorporation, the
enormous mount of one hundred and
thirty-two millions. besides which there
are hundreds of small mines not incor-
porated. being worked as private ventures.
of which product no note is taken, and to
the above we may safely add eighteen
millions. making a grand total of one hum
bred and fifty millions of dollars as the
result of mining investments.
1t is not a bad showing for a gambling
business. How many railroads would at
present rate of profits. and how long a time
required To show equal resultsf And 1T
must be borne in mind that these mines
are still pegging away. The miner is hand
in hand to-day In prosperity with the vine
yardlst. the frnit-raiser and the merchant
producers. while his product is permanent
IN it's benefits. There Is always a market
and a demand for his goods.
Ii is about time that the business of min
ing gold n silver should be recognized
as a legitimate one. as much so as coal and
iron mining. and such narrow-minded pre-
iudice as prevails IN the East should be
rOwned down. No prejudice exists in
Western cities. where the business is recog-
nized as legitimate. II as safe as any
other. In London it is q feature of the
Stock Exchange, and mining stocks rave q
permanent and important footing in the
business.
Is il not time mining was recognized as q
legitimate businessf-Saturday Globe.