New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-10
A NEW SEARCH FOR GOLD,
INCREASED DEMAND FOR MINES PRODUos
ING THE YELLOW METAL
THE DEPRESSION IN SILVER MINING GIVES n
NEW IMPETUS TO GOLD DIGGING-RE-
WORKING OLD PLAcERs-PRosPEcr.
1Nc Enp NEW NINES

WORKING OLD PLACERS-PROSPECr-
ING FOR NEW MINES.
Denver Co.. Sept. Q SpeciaD-The gold mins
ing industry is receiving a new impetus in the
West This has been brought about by the recent
fall in the price of silver. and the closing In the
Rocky Mountain country. OF the principal mines
producing the white metal. Although the West
believes in the free coinage OF silver and in the
future Of that metal as a part OF the monetary
system of the Republic. yet, as there Is now the cry
in the East for gold new stimulus and energy
are given TO gold mining A gold mine is more
than ever desirable property. Some old gold
mines that have long been unworked are now being
reopened the shafts cleaned out the underground
workings placed in order, preliminary to active
development and shipment Of ores. This activity
Is specially marked and observed In Gilpin. Boui.
der Clear Creek, Summit and other counties and
also I'm parts of the great San Juan country IN
Southwestern Colorado. The new gold camp Of
(-ripple Creek in FL Paso County, In this State 10
increasing its output OF the yellow metal Placer
mining although far less profitable than In pioneer
davs when the mountain streams were first worked
and prospected is again receiving marked attention
The Denver mint already shows an increase IN
Tho receipts OF gold bullion. Reports from Mon
,ara Utah Mexico, Wyoming, Arizona,
Nevada the Black Hills and the Pacific Coast
also show an evident increased interest In gold
mining.
The silver-mning industry has received terri
BILE blow in the recent fall in the price OF silver.
Hundreds Of mines producing that metal nave
been closed and thousands OF miners thrown out
NJ emnIovment Denver and other towns In the
mining regions have been compelled to do a great
deal OF relief work in sheltering ana feedins the
unemployed. Many took forcible possession OK
freight trains, and thus made their way East
The sudden change from an era OF prosperity 10
season of depression has caused much hardship
Nnripo Dut otp,ifh
Is a new and energetic search for gold. The
markets are governed by the law OF supply and
demand. Hence the Eastern and European cry
for gold is stimulating this special feature OF
the mining industry. The prospector although he
personally favors the free coinage OF silver, yet
diligently searches for the yellow metal, for CAPT.
tai is now all the more anxious to purchase gold
mining properties. Capitalists and their agents
are now in Denver and throughout the mining
regions looking for profitable investments IN gold
mines.
These new conditions will effect the output OF the
precious metals. If the situation continues az
at present the silver product will decrease and
the gold output may be increased. II Is esti-
mated that from one-third TO over one-half OF
the gold output Is mined in connection with silver.
Under the present depression those mines in which
only the gold and silver combined make It profitable
to work them will suspend; in fact the most
OF them have been closed, and that much Of
the gold product will be lost. But where the gold
of itself will pay, regardless OF the silver, lead and
copper that may be found In the same vein OF ore
with IL, there will be an increased activity. Now.
whether the search for gold and the more acts
i've working of those mines whose principal prods
uct is gold will Offset the loss in the suspension
OF the silver mines that produce gold. but not
enough to make them profitable. with silver at its
present price, Is a matter OF conjecture without
reference to the smeters that handle argentiferous
that also carry some gold the minis show
an increase in the amount of gold bullion received
Only a small per cent OF silver is in the bullion
sent TO the minis where the retor.s made Durs
ing the month OF July the Denver mint paid out
for gold bullion $4,000. being an increase Of about
10000 over the corresponding month for last year.
If the average increase could be kept up for
twelve months the increase in gold bullion receipts
at the Denver mint for a year would be $4,000 in
gold The outlook for a heavy increase In gold
bullion at this mint for August is said 10 be en-.
couraging
The revival OF interest in gold mining. and
pecialy in placers is in the increased sales Of
the old-time gold pans" a prominent Denver
hardware merchant. who Colorado pioneer.
reports that during the last three months he has
sold more gold pans than during the last five years
before At one time his stock OF gold pans
nearly exhausted that he was compelled to tele.
graph for more, there not being time 10 send ths
order by mail and supply the market. The demand
for gold pans great surprise to the old pioneer
hardware merchant. But this OF itself is an
indication which shows how the gold hunter and
prosrector again making energetic search
for the yellow metal.
1t is also said that the gold output will be in'
creased. because silver mining has during the last
few years. been pushed forward more energetically
than the development of gold mines.
Ii is fact that the great discoveries In the won.
derful silver camps in recent years withdrew both
The great carbonate beds Of l.eadve. which reyo.
Int. yal int and hat
most wonderful silver mining camp In the world
attracted thousands from the gold mines OF me
Pacific Coast. the Black Hills and other parts ot
the West. Mafv left the San Juan country IN
Southwestern Colorado. rich in her great assure
veins OF gold and silver. and the growth ana ae;
veopment OF that region was retarded for severai
years. Old deserted placer claims are again beng
worked. Some men out OF employment are Tying
pioneers had left after mining had developed into
the working OF the great assure veins whose ores
S Sod FOUND sG'a in Se sand along the
showed that it must have had source N the srs o
lowed M these indications. and then by the foat
the mountain sides discovered the assure 'ei .
From that time there has been less OF placer NV" sx
tensive use of the water OF these streams TOT Iii
CATION has also retarded placer mining a ", ~.
Gently came to me and wantea 10 uorro and was
going placer mining. on his return ne sS'' 10
Placer mining would be but small feature ,, \.
the development and support OF the sthle' o'i ss,s
illustrates how an energetic at,enuon n,ns Is where
cold is a prominent feature. and they make 'ha'
strong point in advocating their resources r,.
This is the heSh, OF the prGspect uYcep where il
remains great banks the entire year t 9i are
@ are out N hs the rs no going to leave
any silver mines unstakcd Although ne ptosspevfs
may ne si he Will Sn' not o leave anything valuable
knows II. HENCE silver. coal. marble granite h'"@
copper or lead will not be passed by