Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-08-01

gold prospects, and the new processes will
surely make a revolution in mining. don't
know what will be the outcome. l have
thought a good deal about It. 1t may
equalize the value Of gold and silver"
Colorado for Free silver.
Il understand that the most of you people
out here are for the free coinage of sill
vcr?"
YES" replied Mr.. Moffat. I'VE believe
here that it is best for the people of the
United States to adopt the silver standard.
We do not believe that 1t Is possible for this
great nation to do business on the gold
standard alone, and In my Judgment 30 per
cent OF the vote OF the state Of Colorado
will go for the silver ticket This is So
Notwithstanding Colorado produces more
gold than any other state of the Union'
How does Senator Teller stand here?"
I'VE regard him as the ablest man we
have in the state, and perfectly sincere and
honest in his silver belief
Colorado Has Good Times.
This gold production ought to make
times good in Colorado" said I.
Yes. it helps matters" replied Mr. Mof-
fat. I'VE are better Off than any other
state of the Union. Many Of you people
look upon US as having nothing but lot
OF rocks and deserts. The truth is Colo
RADIO Is the richest state of the Union in its
natural resources. If a Chinese wall could
be built about us, and could be shut off
from the rest of the world for hundred
years, we would be able to raise everything
ourselves. and in the end we would have
here nation more rich, more progressive
and better equipped than any other nation
on earth. We have all kinds of minerals
and our iron and coal will make US a great
manufacturing state. We have immense
silver mines, which will be developed when
silver comes up again. At present We have
about 4OOOOO people in the state, and there
are 100000 men now at work in the mines
a hat we
have enough work in the mines alone to
give the head of each family employment.
II takes an immense amount of food for the
miners, and the result is that our agricul-
tural products are marketed here at high
prices. And then our wealth comes from
natural resources and not from speculation
or trading We add more than $fO,UU1oO0
every year to the wealth of the world by
our precious metals Think of that That
Is 500 for each man, woman and child in
the state, or about $500 for every family.
This does not include our other important
products, which are large"
Rich Men VIZ. Poor Men as Miners.
"But how Is this money distributed, Mr..
Moffat? 1t goes nearly all to the big capt.
talists, does 1t not?"
Some of it does, but a great deal of it
goes to the people. l know scores of men
who were poor and have gotten rich
through mining There are more than a
score of such instances at Cripple Creek.
Take Stratton, the owner OF the Independ-
eRce NINE He is worth his millions today.
He was carpenter working by the day
five years ago.
How about mining, Mr.. Moffat: is there
really much chance for the small fry in
the mines today%
Yes think there is" was Mr.. Moffat's
reply. but success in mining is just like
success in any other business. If you pro-
posed to be lawyer, you would work for
years at it before you made much money,
and at the end you might possibly fail.
If you went into mercantile business YOU
would have to associate yourself with
some one who was thoroughly posted in it,
and you still might fail 1 doubt whether
the percentage of loss in mining is greater
than that of other businesses, and the
profits are often enormous. The trouble is
that too many men go about their mining
as man goes about playing policy. They
apply no more knowledge than person Sc
lecting three lucky numbers at drawing
Mining ms Legitimate Business.
Then success in mining is not a matter
Of luck?'
Not altogether, by any means" replied
Mr.. Moffat, Though there is large ee-
ment of chance in It, Mining has, however,
become legitimate business. 1t requires
intelligence. experience, economy and capi-
tai. There are some prospectors who make
fortunes by finding gold mines. If you can
| uncover a good vein or body Of ore you
can easily find the capital to develop it,
Bona fide mining is not a gambling propo-
sition. The prospects Of a mine after
short time can be easily estimated. and
the probable returns can be almost surely
counted upon. To get the gold out of the
ground requires costly machinery, and the
men who go into mine developing with
capital and experience usually make
money. Those who come out here how
ever, expecting to strike a fortune by
chance often lose it. A man, for instance
who has all his life been measuring cloth
in dry goods store comes to the noun
1nnkC h.l farx dave
then buys a mine. Is it strange that he
often loses or that the properties into
which he gets his friends to invest fail 10
make money? You would not expect to
succeed by such methods in any other bust
ness. You can't do it in mining"
Ihen, only expert miners can make
money in mines? Is that SOP
No, l don't mean to say that" replied
the mining king. But the men who come
out here should be men of good business
Judgment. They should wait and look into
matters themselves before investing. If
they have not the knowledge themselves.
they should get the judgment of men of
experience There are plenty of reliable
men here. If such investors are men of
ordinary business ability they can easily
learn enough to prevent them from being
taken In. Why, all that 1 know about min
ing any man could learn in less than a
year Mining Is not an intricate matter.
1T has certain fixed laws which can be
easily learned, and after that investment
Is matter of judgment and business man
agement.''
rs it true, Mr.. Moffat, that every dollar
Colorado has turned out in gold and silver
has cost dollar in wages or losses?'
Yes, l believe 1t is,'' replied Mr. Moffat.
There have been many large strikes bat
there have been many losses that no one
has ever heard of. Whare one man makes
big fortune many fail. But that is the
story Of all kinds Of business. 1t is said
that so per cent of the merchants fail. /
think the percentage of success among
miners Is far greater than that Of men in
other businesses"
Dave MOfrat's Best Mining Speculation
How about yourself, Mr. Mofrat; you
have made a great deal of money In
mines?"
Yes" replied Mr.. Mofrat, rather mod
estly, Il have made something. but have
lost great deal, too. Still, am pretty
we'll ahead of the game"
What Is the best miring enterprise you
have ever engaged in?'
Il think that my best mine on the whole
has been the Maid of Erin,'" replied Mr.
Nofat This is silver mine. 1 went into
1t in partnership with Senator jerome B.
Chaffce. The mine cost us all told about
100000 to purchase and develop. We have
already taken out of it about $50OO,OOO."
How about the silver mines of Colorado
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