The daily morning journal and courier., 1894-12-25

tou6HRy cinu, WaHucfeu htHoHH tHe gulches and foothills Of the sierras, with pick and pan. searching for the precious particles among the gravel of the river beds. has passed into history, The more intensely dramatic era, when the fever of speculation eoursed through the veins. when every fluctua- ton in the prices of stocks was watched with eager interest by million aire and pauper by the clerk in the counting house and the serving maid in the kitchen, when fortunes were mado and lost in . dhy. and when eve rybody was rich whether. his wealth was evidenced by a comfortable bank account or by a scrap of worthless pa per-this second and more unwhole- some era has also passed. to return no | more. .f .-
 The mining of to-day. while 1t lacks the element of wild excitement. is on a more solid basis and has far more substantial prosperity. Mining meth ods are more scientific than they were. wasteful and extravagant processes have been laid aside. new and improved machinery has been brought into use. and private companies. operating qui- etly and soberly. are. reaping d harvest undreamed of even In the days when the delirium of speculation was among us The places mines have been dili- gently worked over. There are still golden grains and nuggets in the river beds, but not In sufficient quantities generally to pay corporations for work Ing them, although individual miners can still make grub"
 But the placer mines at best held only the overflow of the richer original deposits. The wealth in the hillsides poured over and the surplus was c,r- rled with the rain into the rivers. From north to south, throughout the whole stretch of the Sierra range. are ledges laden with their golden treasure as yet untouched. Quartz mining is stili in its infancy despite the vast stores of wealth that have already been wrested from the earth; drift min- ing will yet add untold millions to the wealth of this state. The output of gold this year will far exceed anything of recent years.
 Not in this state alone, but through out the world, this same renewed &C., tivity is seen. Colorado, prostrated last year by the repeal of the Sherman law, stands to-day as one of the wealth.producing states of the world. This year California will be closely pushed for first position among the gold-bearing states of the Union. Two years ago the gold product of Colorado was less than s5,OO0, 0,0O0-$4, ,743, ,00O- while California produced more than twice that amount. The-next year Col orado increased its output sixty-five per cent. This year the difference be- tween the two will be still further de- creased. In Montana twice as many properties are being worked this year as last; in Australia there is unusual activity, and the output of soYth .Afri- ca, which few years ago contributed practically nothing to the worlds sup ply, is estimated for this peat at $4s.- 000, 900. sg.lh tt.,s '&.5 .tsss.-'',s 4 E.t-
 When California, Australia and Rus sia first began, in the early fifties, their immense output Of gold, prices were SC riously affected4 Prior to 1850 the an nuaI product hAd never aexeheded s8a 900. .6Oo.a or slightly more than will De produced in the two states of Califor- mia and Colorado this year. During the next fiye{years the annual average was slsz.0bQs6oO,f the highest point reached fheing sin 1853, when the output was $l55, ,ooo, ,ee6 70. < After that date there was a decline in prod duGtionAsy In 1873, twenty Years latefs the output was $se,2Oo, ,ooO.: in 1883 it. wasg ss.oo 900. Lastly year. however the effect of the in creased demand for gold was felt, and the output reached and passed the fig ures of 1853. The most careful esti- mates place this years production at $170, 900. For the four years since 1890 the annual average exceeds that of 1S50-55 by. s12,000,00O F
 What is to be the effect of these irn- mense additions to the worlds supply of gold! The increased production of 1S5O-1S60 resulted in 8 decline in the purchasing power of gold, or, ex- pressed differently, prices generally rose. The same result should be seen at this time were it not for certain oth- CT factors that are at work. The in- creased supply Is in response to an in- creased demand. and that demand will absorb the surplus as it is produced Again, the worlds stock of gold is far greater now than 1t was forty years ago, and additions that would materi- ally affect the mass then would not be felt now. It IS therefore probable that unless continued for number of years the increased production will not affect the business of the world. The effect in California will. however, be differ ent. The annual addition of fifteen to twenty millions to the wealth of this state Is bound to affect all business beneficially. One years output would be sufficient to build the proposed rail- road through the San Joaquin valley. The cost of new trans-continental hne would scarcely be felt if taken out of several years output.
 Mrs. Ballington Booth Describes the
 Great World of the Poor.
 By those unacquainted with the poor it is not understood that there are as many different classes and grades :. Lx U :. . :. '. ,.. ,. 4r,a .sol, I'M, = .a