The times. [volume] (Richmond, Va.) 1890-1903, 1891-11-26
CLIFFORD ON MINES.
The Great Advocate for Free Coinage Faces
a Richmond Audience.
ELOQUENT ADDRESS ON FINANCE
r,,.,s.tinc Facts Regarding the Production
of Gold and siiver-object OF
the Speaker

# said that Henry b. Clifford faces more
co,itsf IN the course OF year than any IMAM
cial speaker living. The Richmond theatfs
was crowded last night by the wealthies, Oh
orr citizens, who welcomed the great noSO-
cate of the silver dollar II every audience
he meets are as representative as the one
assembled last night to hear HIM on tue
Mines of the World" he must talk 20 the
representatives OF many millions OF dollars
in the course Of year Mr.. CnHoru
ia charming speaker. and for nearly TWO
hours held the close attention OF MS audi
ence He is mine OF information on ING
silver question. well skilled IN argument, snu
the Gold advocate that meets him IN discus
sion will have TO be well versed n the sub
iect for he is a foeman worthy OF fine steel
MIR. Ciinords object seems 10 be TO explain
the exact condition of the mining industry
and to protect the investing pubic against
the possibilities OF wildcat operations. lie Is
very open in his explanations, ana IN SpesH-
inc of his iayorite state. Washington, SAYS
that there are but few developed mines. tie
said s.,
stands the magnitude of operations required
IN Legitimate mining.
IL they were conyersant with the SANS
there would be but little loss. and every IN
cipient venture would not be ciassed rs
mining.
We do not consider the prospector miner.
vet 30 per cent of al the losses occurs WITH
the prospector His Is the hrst specuieuge
step. He often labOrs months without mo
inc any indications of the vein, ana even a.
ter be obtains location speculation does ho'
cease. -,
He is simply the pioneer. and after HIM
comes the developer the second Spectator
who risks his capital IN developing the pros
pectOrs discovery
Here fifty per cent. in the loss Of mining
occurs Tor after months or expensive laooI
the developer finds the property non-VaiuaOe'
but if he succeeds IN developing mine;
then commences mining, and not before, ana
with the miner all speculation pracuca.iy
ceases for in legitimate mining there lsiully
about 70 per cent. of the total LOSE. .,
The patrons Of the mining industry should
understand the different grades or MINING,
He should know when ne IL on basis % 20
per cent. loss in prospecting. o. 81 per cent.
loss in developing. OF - per cent ioss ia
/ mining or per cent. loss IN smelling.
He should understand that not one pros
pect in 90 locations ever develop into nine
Yet even with such a small PERCENTAGE a sue
cessful mine becomes source OF proht for
twenty industries do not believe there are
500 paving mines in the United States, yet
our developed mines are making prouuct or
+ over : 100 900 900 and some OF the most
colossal fortunes Of the world have been the
result of legitimate mining.
makes man timid and weak when he has 10
money in his pocket then he will scarcely
resent an insult for fear Of his inability 20
paw a fine He walks up quiet streets. gazes
wistluliy into windows and bis ambition -:
! indeed al low ebD With the coming OF
money a new life springs into bis heart. MS
eve brightens. his step IS proud ana denant he
is prepared 10 meet trend or zoe. Nhen
man has money then are the moments OF
his greatest achievements. The power
of invention Is greater when the heart
is light. and risks are taken thst
/ often result IN material benefit 20
mankind that would not have been attempted
| had mans ambition been deadened by lack
! of money.
Before the coming of money into the world
/ pride WAS but - scraHny tree and generosity
I an nnsprouted seed nation of men who
/ do not feel the effect OF money makes
/ but slow progress. THIS accounts Tor
! the marvellous growth OF America
and the backwardness of many other nations.
| The more money, greater activity. TINS has
been well shown by the fact that the volume
| of trade of the world increased three fold be-
/ tween the years of 1S4S and 1880. the periods
| of our greatest production OF gold and silver.
! The nations having the largest amount OF
money are the most prosperous and Vice
versa There is only three dollars per
capita 10 the inhabitants OF the
J earth and vet there are five hundred
where this absence Of coin 10 felt there IS ms
cry. s1uaIor and ignorance. To increase the
material prosperity of nation YOU must IN
crease its coin and when you limit coin you
limit the march Of progress. TINS standing
! good Of nations who are without mines OF
t gold and silver and are forced 20 exchange
! their chOicests products for the products
of the NINE then how much greater
/ is the progress Of country that
has unlimited resources or precious
metal from which 60 create its own com:
/ The United States will never die from sur
plus Of money. The politician Of our coun-
| try - the national eirculator. II seems to
be bis duty 30 see that the Government shall
never hold its accumulation OF surplus. We
want more money at least ffty-fOur dollars
percapita Aswe now have thirty-tour dollars
per capita this would give Us one billion. two
/ hundred and fifty million dollars.
Ourper capita would then be- equal TO France.
| the most prosperous nation in Europe. There
! need never be fear OF silver being drug IN
/ the market There is not enough Of u pro-
| duced II we were 90 attempt 20 reach the
| amount 81 the French per capita we would
have 70 coin steadily for twenty-five years
| four millions month, and If We kept this
ratio pp as our population increased.
we would have 10 absorb the total
| silver product Of the world. for in
reality there Is only about eleven millions Of
silver per annum produced outside OF North
/ and South America, anc yet over 10 per cent.
Of ell coin is silver and the total increased
production of silver does not make up for
the decrease in gold.
You people Of the South should DO the
strongest advocates for free coinage. on have
so many varied and diversified industries 70
develop. Money creates plenty Of trade:
then comes plenty Of labor. then comes
the true wealth happiness, for the wealth
lest nation is the happiest nation. The
mines OF America are not producing enough.
We want 20 make them produce more.