Daily independent. [volume] (Elko, Nev.) 188?-1915, 1891-08-25
MINING OUT WEST.
How the Business Has Been
Brought Into Bad Repute.
Tho Miner OF To-day Takes Rank with
tho vineyardist aa n Legitimate
PrOducor-Immen so Prof.
Ats Returned.

Ats Returned.
The general public east Of tho Mis-
souri, river has very faint and indefi-
mite knowledge of the extent to which
legitimate mining is carried on in the
territories west of tho Rocky noun
tains and on the Pacific coast. Few
people stop to consider or think whcrc
the gold and silver they handle comes
from. 1t may be a crop grown some
where for all many of them know.
These are the ignorant, unthinking
class, OF course, but there is another
more intelligent, not having the excuse
Of ignorance. which loses no opportuni-
ty Of railing against mining. Even
while handling the product of the bust
ness and experiencing it's benefits, they
NOS only dccry mining, but do their best
to discredit all who are engaged in the
pursuit.
This prejudice, says the Saturday
Globe, has grown out of losses sus-
tanned by hasty, ill-advised invest
ments, taking the statements of ire
sponsiblc spectators as facts without
giving them the careful investigation
that would be given to any ordinary
business project submitted for invest
mept. This careless, hasty method of
investing naturally led to losses, as it
would in case Of equal neglect to give
time and attention to any other schemes
presented nearer homo. A want of
knowledge of the business was more
often the cause of the failure to realize
profits than the want of merit of the
property itself. ~.'2ra.:.. . PEI.
If a capitalist contemplating an in
vestment in mining was to give the
same attention to investigation that he
would in the purchase Of piece of real
estate or any other Investment, he
would be no more liable to losses; proper
care, careful investigation would en-
able him to invest with equal Judgment.
as for the average of failure: in
mining and the ordinary callings, ner-
chandising, for instance, the percentage
Of failures in the latter is much greater.
1t pays better rs now conducted, gives
better returns, larger profits than any
other form of everyday business. A
list OF seventy-fiye mines shows as
profits paid to the stockholders since
incorporation tho enormous amount of
one hundred and thirty-two millions,
besides which there arc hundreds OF
smaller mines not Incorporated, being
worked as private ventures. of which
product no note is taken, and to the
above we may safely add eighteen mil
lions, making Il grand total Of ono him.
drrd and fifty millions as the result OF
mining" Investments.
1t is not n bad showingfor gambling
business. How many railroads would
at present rate of profits, and how long
time required to show equal results?
And it must be borne in mind TINT
these mines are still pegYying away.
The miner is hand in hand to-day in
prosperity with the vincvardist. the
ruit raiser and the merchants. lie
stands in the front rank of profitable
producers, while his product is permn-
mont i'll its benefits. There is always IL
marlIct and demand for his goods.
1t is about tirae that the business of
mining gold and silver should be recog-
nized as legitimate one, rs much SO as
coal and iron mining, and such narrow
minded prejudice as prevails in the cast
should be frowned down. No prejudice
exists in western cities, where the bust
is recognized US legitimate and as safe
ss any other. In London it is u feature
Of the stock exchange, and minip
stocks have q permanent und ;mportau.
footing in the business.