The DeLamar nugget. [volume] (DeLamar, Idaho) 1891-1900, 1891-09-29
MINING OUT WEST.
How the Business Has Been
Brought Into Bad Repute.
The Miner of To-day Takes Rank with
the viDeyardist Legitimate
Producer-Immense Prof
its Returned.

The general public east of the Mis-
souri, river has very faint and indef-
mite knowledge of the extent to which
legitimate mining is carried on in the
territories west of the Rocky noun
tains and on the Pacific coast. Few
people stop to consider or think where
the gold and silver they handle comes
from. 1t may be 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 its benefits, they
not only decry 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
sponsible spectators as facts without
giving them the careful investigation
that would be given to any ordinary
business project submitted for invest
ment. 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 home. 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
If 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 failures in
mining and the ordinary callings, mer-
chandising, for instance, the percentage
of failures in the latter is much greater
1t pays better as now conducted, gives
better returns, larger profits than any
other form of everyday business. A
list of seventy-fve mines shows as
profits paid to the stockholders since
incorporation the enormous amount of
one hundred and thirty-two millions,
besides which there are 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 grand total of one hum
dred and fifty millions as the result of
mining" investments.
1t is not bad showing for gambling
business. How many railroads would
at present rate of profits, and how long |
a time required to show equal results? |
And it must be borne in mind that
these mines are still pegging away.
The miner is hand in hand to-day in
with the vineyardist, the
'ruit raiser and the merchant. He
stands in the front rank of profitable
producers, while his product is perma-
lent in its benefits. There is always
market and demand for his goods.
1t is about time that the business of
mining gold and silver should be recog-
lized as legitimate one, as much SO as
oal and iron mining, and such narrow
minded prejudice as prevails in the east
hould be frowned down. No prejudice
xists in western cities, where the bust
5 recognized as legitimate and as safe
S any other. In London it is a feature
t the stock exchange, and mining
tocks have permanent and important
ooting in the business.