The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-04-13
NEW MINING ENTERPRISES.
Interest Makes New Money and Also
Good Times.

interest Makes new money anu alSo
Good Times.
1t is the duty of every well-wisher of the
mining industry to do all in his power
to thwart the schemes and jobbing OF
eastern mining promoters, but there Is
certainly a great. deal of senseless de-
preciating of mining under the guise of
conserving the public good. Mining is a
pursuit to be fostered as any other. Any
undue excitement which is generally
caused by the unearthing of millions of
new money is called a craze" simply be-
cause many strive to break through the
do-nothing lines into doing something.
We call the South African epidemic a
craze" yet nearly S50,000,000 Will be pro-
duced during the year.
Looking at the practical side of the
question, says the Mining World, there
certainly can be seen some good in it ALL
The blood of the business world becomes
warmed, and the hidden dollars get into
circulation. To be sure in the general
shutting of treasure some will become
wrecked but in all such financial up
heavals the country moves upward and
onward. The war against silver is not
called "craze" by eastern gold men,
and yet it has produced more widespread
misery than all the mining 'crazes" of
the country combined. Bank failures and
real estate booms are not "crazes" yet
they spread ruin broadcast.
We call to mind various 'craZeS" where
all the wonders and warnings as to the
coming crash" were heralded by the
press. as is now in regard to that of
South Africa and our home speculations.
Many of our old timers can call to mind
the copper "craze" of the Lake Superior
region of 1S46-7-S, yet it opened up, for
that period, the greatest copper mines of
the world, and made the iron industry of
the United States the peer of England.
Also in California in '49 and 80. which
po11 sod 70 i1ac
across the desert, to say nothing of an
equal number who came by sea, to reach
the golden shore. And what was the
result? California was born in about
600 of gold was the product for the first
ten years, and the business world was
saved financially. The days of the Com
stock We're all "crazes," all wrought
wealth and ruin, but S400, 600 600 of gold
and silver was the reward.
But when we analyze all, we find that
when there is substantial output back
OF the speculation, more benefit is the
Juror arises more from jealousy than
distrust, and we wish we had more of
it, with all it's evils.
There is more life, wealth and prosper
ity IN a mining epidemic than in all the
staid banking, mercantile and CONNER
cial pursuits. Business houses play ON
the money in circulation, and nearly 95
per cent. are the records of failure Min
ING Jurors Drlng forth new money. more
of it, life to every community. and their
record of failures for the future will show
that legitimate, skillful mining is not as
hazardous.
Could any mining craze produce more
distress than exists at present, with about
every farm mortgaged for every dollar
II will stand? Would real estate and in
dustrial enterprises suffer for lack of
speculation, as at present, had we re-
newal of bonanza DAYS with all its
crazes!' Let US all foster legitimate
mining, avoiding as far as possible any
thing that savors of concocted robbing
schemes foisted by cultured eastern