Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1891-04-14

Leadville, had been regarded in the
light Of purely speculative enterprises,
are now becoming looked upon a.
legitimate business undertakings, and
are being conducted ss such. The
fact, also. 10 becoming we'll under.
stood and appreciated that with
honest and intelligent management =
good mining investment is safer and
pays larger interest on its capital
than any other. The largely increased
output Of the gold, silver, lead and
copper mines of the W~.tern States,
the increased dividends that are being
paid, and the number Of new COM
panies that are now being incor>
porated are evidences of this change
IN OF inion.
The people in the West themselves
also are looking Ut the mining IN
dustry aud the development of ,nin-
inK property from . soonder and more
Lu' mes .-like point Of view. A. WAS
pointed out by = writer in the last
number Of the Engineering and Min
ing Journal, the old ideas r~gsr,ing
the sale OF mining property or the en-
listment Of capital III mining under
takings have experienced . change.
Capitalists will not pay large amounts
of money for undeveloped prospects
simply because Of their proximity to
profitable mines, and their holders
are realizing the force of this At.
TIE method which is now more ire-
quently being followed in the develop
ment of UNEMPLOYED mineral gro md
il to undertake to place shares for
working capital only. This system is
clearly tho most equitable on both
sides. The original owners OF min
ing claim are able thereby to secure
money for its exploration, and the
subscribers to the shares offered are
not asked to pay an exorbitant price
for something Of doubtful value, and
conse quently take smaller risks. II
10 the wild. cat and inflated sche mes,
in which 20 many people lose their
money, and Of which there are so
many r-mindsrs in tho West, which
throw mining into dislepute. IL il
were not Tor these there would be no
difficulty in enlissi"g capital in min.
ing investments in the Western States,
resulting in the further development
of their wonderful mineral resources.
The magnitude Of tho mining in
serests of this region, aud their rapid
growth, are shown by the satisfies,
such as we have, of the production Of
its mines. From 1892 to 1873, inclu-
sive, as estimated by Or. r. w. Ray.
mond,a"d subsequently by the Di-
rector of tile United States Mint, the
gold and silver mines Of the United
States have produced, in round mum.
beers, over $2,87O,OOO,OOO, Of which
about ,S75,OOO,UOO has been gold
and 81 900, 600, 900 silver, both metals
being calculated At their coinage
value. BY far the greatest portion of
this wealth las COME from the Rocky
Mountain States. Prior to l848 the
production OF gold in the entire coun.
try amounted to the comparatively
sum OF &14, 800 900. In
that year the d,scov. of geld in
California became known, aud with
the rush to the new f.. Liza aud the
considerable yield obtained from them,
The production amounted to 100000
OU0; in the following year it increased
to $4,000, 900, and since that time
has been maintained ut an annual rate
varying from $4,000 GOO. the maxi.
msm, in 1853, TO $50, 100000, the
in 1883
From 1872 to 1861 the total output
Of silver in this country Is estimated
to have been but Is, 10000 The
Comstock lode WAS discovered in
1859, and the annual production Of
silver increased rapidly thereafter. In
1860 it WAS 81, 100000; in 1894. sll,-
OO0,OOO, and in 1870, $4,000, OOO.
During the next decade important
discoveries were made in several
places in Utah. Nevada and Colorado,
aud in 1878 tho total production of
silver in the United States had in>
creased to t45, 10O,OOo. falling off ia
1880, however. to $50, 100000 But
the Leadville mines, discovered in
1878, aud commencing to produce
largely in 1880, helped to swell tho
output again, aud since then, with the
development Of the many new and
rich mineral districts OF tn. North
western and Southeastern States and
Territories, the annual production has
h.en steadily increasing until, in
1890, the total value Of the silver
product OF the country amounted to
over t7O.UOO. 900.
The production of the precious
metals. however, by no means includes
the entire amount Of mineral we. lth
that has been derived from this SEQ.
ton of the country.
Since 1882 nine Of the Western
States, Montana, Arizona, New