The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-11-04

and foothills of the Serras with pick
and pan, searching for the precious par
ticles among the gravel of the river beds
has passed into history The more in
tensely dramatic era, when the fever Of
speculation coursed through the veins
when every fuctuation in the prices of
stocks was watched with eager interest by
millionaire and pauper, by the clerk in
the counting house and the serving maid
in the kitchen or nursery, when fortunes
were made and lost in a day, and when
everybody was rich whether his wealth
was evidenced by a comfortable bank ac-
count or by a scrap Of worthless paper
this second and more unwholesome era
has also passed to return no more.
The mining Of to-day, while II lacks
the element Of wild excitement is on a
more solid basis and has far more sub
stantial prosperity. Mining methods
are more scientific than they were, waste
full and eXtravagant processes have been
laid aside, new and improved machinery
has been brought into use, and private
companies, operating quietly and soberly,
are reaping a harvest undreamed of
even in the days when the dellrium Of
speculation was among us. The placer
mines have been diligently worked over
There are still golden grains and nuggets
in the river beds. but not I'm sufficient
quantities generally 10 pay corporations
for working them, although individual
miners can still make grub"
But the placer mines, at best, held only
the overflow Of the richer original de
posts The wealth IN the hillsides poured
over and the surplus was carried with the
rains into the rivers. From north to
south, throughout the whole stretch Of
the Sierra range. are lodges laden with
their golden treasures as yet untouched.
Quartz mining Is still IN it's infancy de-
spite the vast stores Of wealth that have
already been Wrestcd from the earth:
drift mining VIII 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 throughout
the world. this same renewed activity Is
seen. Colorado, Frustrated 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 5000, )0O-S4. 743. 0O0-while
California produced more than twice that
amount. The next year Colorado in
creased its output G5 per cent, while the
increase In California was only 8 per cent.
This year the difference between the two
viii be stili further decreased. In Mon
tanO twice as many properties are being
worked this year as last; IN Australia
there is unusual activity and the output
Of South Africa. which a few years AGO
contributed practically nothing 10 mo
worlds supply, is estimated for this year
al fts.O000.
When California. Australia, and Ruasia
first began. in the early nftloa. their irn-
mensc output Of gold, prices were serl.
0ualy affected Prior 70 1850 me annual
product had never exceeded tss 10000. or
slightly more than VIII De- produced fn
the two states NJ california and colorado
fhIr year During me neNt nvo years fhe
auuuai average vas 1874 co.. the hirh.