The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-03-12
SILVER MINING PAYS.
But With RECOMMENDATION it Would
Pay Much better.

Pay Much Better.
A correspondent of the New York
Times, who, without doubt. indited
his letter in one of the rooms of the
Times building, as his communication
was dated Salt Lake City, March g.
and was published in the Times of the
7th, endeavors to prove that silver
mining could be profitably carried on
with silver quotations as low as so
cents, and he cites several instances
of the resumption of work on Utah
mines to maintain his position, burt he
fails to state that where one silver
mine has started up again, hundred
are still idle, and also that the mines
now running show great bodies of ore;
that they enjoy decreased railroad
charges, lower smelling rates and are
benefited by cheapened processes of ore
reduction and by improved machinery
for the extraction of ore, without all
of which there is not a silver mine in
Utah that could be run for twenty
four hours, excepting at a less.
The arguments used by this CORE
spondent (who works on the Times
force, without a doubt, are all based
on the goldbug theory that might is
right; and because this is so, that he
is right; and he probably is one of
those honest men 81 who make a grea
cutlery about honest money. little
thinking that if surreptitiously and
dishonesty, gold should be demone-
tized. that the gold contained in "a gold
dollar would not, commercially, be
worth its face value.
This same man would not restore
silver to par because the silver in a
dollar is not worth dollar; but if
gold were to be debased, as silver has
been, he could see no wrong in re-
storing it to it's former position as one
of the money metals of the world and
as one of the money metals guaran-
teed by the constitution of the United
States, along with silver
But, because the 'bondhclder, the
money-lender and the Shylocks seek
to double the value of their holdings
by the destruction of half of the money
medium of the world, this correspon-
dent thinks it would be a great wrong
to restore the white metal to its proper
place by the side of gold at a natural
and agreed ratio. simply because, in
his more than rustic simplicity
wrong to right a wrong, simply
because at the present time, because
of unjust and unwise legislation, the
silver contained in a silver dollar, so
he says, lis not worth a dollar
Following we reproduce some of this
correspondents illusions to Utah mines
simply to show what really wonderfully
producers our new state can boast Of,
viz:
The great Ontario mine in Park City,
which has been one of the largest div
idend payers in the country, having
given out over 81, $500 600. has resumed
its payments, having declared two more
dividends since the first of the year.
The mine was practically shut down
after the repeal of the purchasing
clause of the Sherman act and the
closing of the Indian minis. 1t fol-
lowed in the wake OF a number of Col
orado mines, which were closed at that
time.
Since then the Ontario has been US
ing all its profits in driving a long drain
tunnel through the mountains in order
to relieve the necessity of pumping to
stream that runs through it. That tun-
mel was finished during the past sum-
mer and some additional work has been
done since. Now that it has succeeded
the mine is beginning to pay 1Gain.
In the same mining camp, the largest
silver camp in Utah, there are a num-
Der of other rich properties. chief
among which is the Silver King. The
strike on the silver vein was made in
this mine only two years ago, and yet
now the owners are becoming very
rich. David Keith and Thomas Kearns
are the largest shareholders, and were
common miners at the time of the pas
sage of the Sherman act. They are now
accounted to be millionaires
In the same district are the Daily
West, the Anchor, and number of
other silver mines that are paying good
dividends and are known as good prop
critics.
In Bingham, the second largest camp
in the territory, the Dalton and Lark.
the Old Galena, the Yosemite, and a
dozen other silver and lead mines are
making good profits for their owners.
One of the heaviest dividend paving
mines of the present day is the Horn
Silver, in southern Utah In order to
work this it is necessary to take the
water to Frisco over the mountains by
train. The mine was recently Quilted
by fire, and a heavy expenditure for
repairs was made necessary. Yet this
silver mine has paid up all the losses
and still continues to give very large
payments to its stockholders.
P. T. Farnsworth, superintendent of
the Horn Silver, is accounted to be one
of the most successful and astute min
ing men in Utah. and he devotes his en-
q s9iOS eill-SSt SAlll ely 10 silver mining.
He has several properties in Austin
New, and is now pumping out the old
Lincoln mine, which had filled with
water, because he says the silver there
will pay handsomely.
These are only examples. They are
sufficient to show that silver mining is
not dead Strikes of silver mines are
being opened throughout the
whole mining region while almost as
mary fortunes are being made by silver
as by gold
Well Informed mining men have said
p the correspondent for the New Yorls
Times that a conservative rniner-ona
VINO makes mining a. business. and does
not go in for the gambling part of If
to make a great fortune or lose all
would rather have a good silver mina
than gold mine. The reason fc- this
preference IS that silver in a good roina
GENERALLY lies in great deposits With
cad and other base metals. The veins
are so large that the cost and die5
Guilty Of working them can be reduced
% Tnir-''lirn. Great Quantities can
De taken out for long neriods end tba.
profits can thus be made very largo si-9
THE NEW STATE OF UTAH.
4 Country Possessed of Great md