The herald., 1895-06-16
MINING IN OLD MEXICO
Although Labor Is Very Cheap
Money Is Plentiful
THE ERA OF GOOD TIMES
In Old Mexico, at Least-Some Of the
Mines Which Are Turning Out
Great Wealth

Mining in Mexico. contrary to gem
eral opinion in the states, is far from be-
ing in a depressed condition, owing to
the low price of silver. On the other
hand, there never was time III the his
tory OF the republic when this particular
industry was SO prosperous as at the pres
emit. The peso or dollar and onza Mexi-
cana is now, and always was, on its equal
ity or standard ratio OF $1.21 to one ounce.
The peso or onza buys as much today OF
all the necessities of life as it always
did-and the man jim Mexico who works
out his silver mine has never felt or
known that silver has dropped in value.
On the contrary the miner here has
been largely benefited by the drop in sill
ver as most mines contain in addition
gold and other metals which is always
paid for according to the gold standard.
That is, for his silver he i'll turn receives
his silver in dollars. and there can be no
loss. while for his gold he receives today
from $Ss to $40 per ounce.
AS an argument for this an American
mining man who works bismuth NINE
near here showed me some liquidation
receipts, one dated September TO- 1890.
for the amount OF three tons of bismuth
and copper ore, which was settled for at
the rate of $4s per dollar Mexlcan, max
IuE Il tOldl VI IOT SdIlc uulOuDb Oi
ore lie receives today settlement at S24,
which yields return OF $3.50. "a. an ex-
act difference OF $3.50. This G1plies to
every branch of industry which exports
and receives payment in gold ,and both
abe foreign element engaged insbusinfss
here and the native dealers ar9 making
a rich harvest. x
Under the new Mexican law mining
is especially encouraged. The prelimln-
airy announcement of mine cost from SIS
to $25 and .requires publication. in the
Official paper of the capital oil thu state
for ninety consecutive days. Arthe- end
OF this time If the party desires a patent
the federal treasury $40 for each pcntsnen-
ca 325 it. square Hereafter an annual tax
is demanded of $40 per pertenencia and
no further obligation or work is required
Labor is cheap and reliable. Prices vary
from responsible positions at "a per day
to $l.25, which when the capital comes
in gold from the outside and is exchang-
ed into Mexican silver makes il doubly
are paying handsome dividends. which
in the tates could not DO worked at all
unuer the present silver depression.
The famous Candelaria mine which
has paid its successive owners in the
course OF 200 years over $780, 900 IS
now working on one which pans only S25
to sos per ton. The San Dimas district in
to be the richest in Mexico. Most OF the
large mines there are in the hands of
Americans. The Candelaria owned by
ID. M. Burns and Clarence Matertame
of San Francisco; group of mines be-
longing to the Hearst-Haggin Co. the
Coronado property of Attorney J. n. Il.
Wilson of San Francisco, and the Prom.
ontores, an old mine and doing the best
in the district recently acquired by +. M.
Ochoa and other San FTanciscans. All
these mines except the latter are low
grades of free milling ores, carrying from
Is to 25 per cent gold, while the Promon-
tono hardly goes 10 ps- cent above the
others 1t is the present advantage of
exchange and cheap labor which more
than anything else makes these mines SO
immensely profitable.