The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-11-09
MINING GOLD AGAIN
It Has Been Opened by Modern
Mining Methods.
Renewed Activity In the Gold Fields OF
Californfa-It Lacks the Excitement
OF Early Times, But Eas
More Solid Basis.

silver, and the minis of India were
closed to the white metal, the financial
outlook was dark indeed. But out Of
evil good often comes, and, whatever
other effect these measures NAV have
had, they have resulted benefcially in
causing a greatly increased activity in
gold mining. Never before in the his
tory Of this state, says the San Fran
cisco Argonaut, have the prospects been
so fattering. The spectacular effect
that accompanied earlier mining ex-
elements is wanting, but there is in
It's place an element OF greater stability
and permanence. The romantic era,
when the population. red-shirted and
roughly clad. wandered among the
gulches and foothills of the Sierras,
with pick and pan, searching fer the
precious particles among the gravel OF
the river beds, has passed into history.
The more intensely drama tic era, when
the fever of speculation coursed
through the veins. when every fuctua-
ton 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 -ost in day, and when
everybody was rich whether his wealth
was evidenced by 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 it lacks
the element of wild exciteme Mt, is on
more solid basis and has a far more
substantial prosperity. Mining meth
DDS are more scientific than they were,
wasteful and extravagant processes
have been laid aside. new and i'm
proved machinery has been brought
into use, and private companies, opcr-
ating quietly and soberly, are reaping
a harvest undrcau1od of even in the
days when the delirium 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 in sufficient
quantities generally to pay corpora
tons for working them, although in
dividUal miners can still make grub"
But the placer mines at best held
only the overflow of The richer original
deposits The wealth in the hiIlsides
poured over and the surplus was car
ried with the rain into the rivers.
From north to south, throughout the
whole stretch of the Sierra range, are
ledges laden with their golden treas
ure as yet untouched. Quartz mining
is still in its infancy despite the vast
stores of wealth that have already
been wrested from the earth; drift
mining viii yet add untold millions to
the wealth of this state. The output
Of gold this year viii far exceed any
thing of recent years.
Not in this state alone, but through
out the world this same renewed &C
tivity 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 frst position among the gold-bear-
ing states of the union. Two years
pgo the gold product of Colorado was
less than $1,000, 0O0-S4. T43 ,OOG-while
California produced more than twice
that amount. The next year Colorado
Increased its output sixty-fve per
cent, while the increase in California
was only eight per cent. This year the
difference between the two will be
still further decreased. In Montana
twice IS many properties are being
worked this year as last; in Australia
there is unusual activity, and the out
put Of South Africa. which few years
Ego contributed practically nothing to
The worlds supply, is estimated for
this year at SIS, cO0,OO0.
When California, Australia and Rus I
ia first began, in the early fifties, their T.
immense output of gold, prices were T,
seriously affected. Prior to 1850 the
annual product had never exceeded +
E3s.o0o00o, or slightly more than will .
he produced in the two states of Cali (
fornia and Colorado this year. During .
the next five years the annual average /
WAS S137, 100000, the highest point I
reached being in 1853, when the output I
was Sl55, 900, COO. After that date there .
was decline in production. In 1873, |
twenty years later, the output was $780, 4
zoo, COO; in 1883 it was S94. COS. 900. Last /
year, however, the effect OF the in /
creased demand for gold was felt, and 4
the output reached and passed the fig !
ures of 1853. The most careful eStl- /
mates place this years production at /
ti70. coo. $50. For tie four years since /
1890 the annual average exceeds that |
Of lS50-'55 by S12 100000.
What Is to be the effect Of these i'm t
n,aosa additions 70 tho ,-o--l1-s rr,DDlv
of gold? The increased production Of .
IeJ0-l350 resulted in decline in the /
purchasing power of gold, or, expressed .
prices generally rose. The .
same rcs.ilt should be seen this time
were il not for certain other factors
that are at work. The increased sup
ply Is in response to an increased de-
mand, and that demand viii absorb
the surplus rs it IS produced. Again,
the worlds stock Of gold is lar greater
now than IL was forty years ago. and
editions that would materially affect
the mass then would not be felt now.
1t is therefore probable that, unless
rontinDSd for number of years, the
increased production viii not affect the
business Of the world. The effect in
L2n1ornio VIII, however. be different. !
The annual addition of fifteen to |
twenty millions to the wealth of this |
t.ate is bound to affect all business |
One years outnut would |
be sufficient to build the proposed rail-
road through the San Joaquin valley.
The cost of = new tr2Gscout;nental line
would scarcely be felt if taken out of