Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1891-10-29
COMING MINING CONGRESS.
important Topics Which New Mexico
Must Take Hand In
Discussing
To the Editor of the New Mexican.

To the Editor OF the New Mexican.
DENVER, Oct. 27.-The first gun of tn,
| presidential campaign will be fired il
Denver at the opening of the nationa
mining congress, November l8. Invita-.
tions have been extended to seventy-tivt
senators and congressman, who expressed
n willingness to attend. Each of the
great political parties has incorporated 8
plank in its platform pledgiug itself to the
cause of silver and free coinage to more
or less degree and the preliminary skir
mishlng of the advance guard will take
place in Denver.
The immediate cause of holding con
gress is to assist in dedicating the new
building of the Colorado Mining Stock
Exchange, which is the most imposing
structure conceived and constructed by
men whose interests are locked up be.
meath the surface of the earth.
Among the important questions coming
up for discussion is free coinage. This
will be an open and unbiased considers
Gon of bi'metalism and as large eastern
representation will have votes in the
congress, the resolution, whichever side
they may favor, will be recognized as the
sentiment of the country free from local
coloring or selfshness derived from direct
interest in the greatest industry OF the
west.
Out OF the annual production of $780,.
0p0,000 in precious metals Colorado con.
tributes $45 ,000, 900 and therefore is en-
titled to the scepter of supremacy when
it comes to legislating upon a product
with which she can make or break nations
by simply shutting up shafts and with
holding her treasures from circulating.
IL this commanding attitude, this queenly
Centennial state extends welcome to
al, to come within her domain and par
take of true mountain hospitality.
Laws governing the organization of
mining companies and restricting their
capital to sensible basis are also to be
studied and appropriate recommends
tlons adopted for presentation to the
legislatures of the respective states and
territories. At present the business of
legitimate investment is heavily handi-
capped by innumerable companies owning
holes in the ground foated in the mill
lions, when from 81, 900 to $25 900 would
be more like fair valuation. Mining
can not be expected to pay dividends on
an cunts out of proportion to the vslua-
tio1, and with this idea in view the
congress will be asked to devise means to
regulate indscriminate capitalization.
Mineral land laws will provoke dis
cussion that will rebound to the good of
mining. Mining men will demand that
holders OF claims be compelled to do more
assessment work or that property, once
developed, must be kept IN certain cJn-
dition. This would protect stockholders
from the freezing out process of a majority
and also compel foreigH companies, which
own large number of claims, to work or
forfeit title.
Foreign capital will be brought up as
suitable topic for debate. It is held by
Colorado miners that no limitations be
placed upon the judicious Investment Of
outside capital as it has already served to
place Colorado in the lead as mineral
producer and it will not do at this day to
favor sum ptuary legislation.
The railroad rate from all New Mexico
points will be one fare for the round trip.