The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-08-02

and the few spots where the rich veins
have been uncovered only go to prove
that the mineral wealth of the state
is scattered over it's entire surface. I
believe that the time will come when all
of our mountainous counties will con-
tribute to the output of gold and, sill
yer. And then the African and Aus
tralian mines will still turn out great
quantities Of gold. All over this Rocky
mountain region there are good gold
prospects, and the new processes will
surely make a revolution in mining. 1
don't know what will be the outcome.
/ have thought a good deal about it.
1t may equalize the values of gold and
silver"
COLORADO FOR FREE SILVER.
81 understand that the most of you people
out here are for the free coinage of silver?'
Yes replied Mr. Moffat, 1--WE think here
that it is the best for the people of the United
States to adopt the silver standard. We do
not believe that it is possible for this great
nation to do business on the gold standard
alone, and in my judgment 80 per cent of the
vote of the state OF Colorado will go for the
Colorado produces more gold than any other
state of the Union
How does Senator Teller stand here?''
1--WE regard him 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 l.
Yes 1t helps Matters replied Mr.. Moffat.
eve 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 Colorado is the richest
state of the Union in its natural resources.
If Chinese wall could be built about us, and
we could be shut off from the rest of the
world for hundred years, we would be able
to raise every thing ourselves, and in the
w hQy hnr rin
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 900 people in the
in the mines. At four to the family that
means that We have enough work in the
mines alone to give the head of each family
employment. 1t takes immense amount
of food for the miners, and the result is that
our agricultural products are marketed here
at high prices. And then our wealth comes
ton or trading. We add more than $4,000, 600
every year to the wealth of the world by our
precious metals. Think of that. That is $10O
for each man, woman and child in the state
or about 5000 for every family. This does
not include our other important products
which are large
RICH MEN VS.. POOR.
But how is this money distributed, Mr..
MoHatF 1t goes nearly all to the big CAPT
talists, does it not?
Some Of it does, but great deal of 1t
goes to the people. l know a score of men
who were poor who have gotten rich through
such instances at Cripple Creek Take Srat-
ton the owner of the Independence mine He
is now worth his millions. He was car
pesnter, 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 u.s." was Mr.. Moffat's
reply, but success in mining is Just like sue
cess in any other business. II you proposed
TO be lawyer, you would work for years at
1t before you made much money and at the
end you might possibly fail If you went into
mercantile business you would have to as
soctate yourself with some one who was thor
oughly posted in 1t, and you still might fail
doubt whether the percentage of loss in
mining is greater than that of other bust
nesses, and the profits are often enormous
The trouble is that too many men go about
their mining as a man goes about playing
policy. They apply no more knowledge than
a person selecting three lucky numbers at a
drawing"
LEGITIMATE BUSINESS.
Then success in mining is not matter of
luck?" =
Not altogether, by any means" replied
Mr.. Moffat. though there is large element
OF chance in it. Mining has, however, become
a legitimate business. 1t requires intelli-
gence, experience. economy and capital There
are some prospectors who make fortunes by
finding gold mines. If you can uncover
gooo vein or body OF ore you can easily find
the capital to develop it. Bona fide mining
is not gambling proposition. The prospects
of mine after a 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, however
tinp 10 rib
lose it. man, for instance. who has all his
life been measuring cloth in a dry goods
store comes to the mountains. He looks about
for few days and then buys a mine Is it
strange that he often loses or that the prop
critics into which he gets his friends to in
vest fail to make money? You would not ex-
pect to succeed by such methods in any other
business. YOU can't do 1t in mining"
Then, only expert miners can make money
in mines? Is that so?''
No I don't mean to say that" replied the
mining king. but the men who come out
here should be men of good business judg-
ment. They should wait and look into mat
tiers 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 pre-
vent them from being taken in Why all
that I know about mining any man could
learn in less than a year. Mining is not an
intricate matter. It has certain fixed laws
that investment is matter of judgment and
business management
us it true. Mr.. Moffat, that every dollar
Colorado has turned out in gold and silver
has cost dollar in wages or losses?"
Yes, / believe 1t is,' replied Mr. Moffat
There have been many large strikes but
there have been many losses that no one has
ever heard of. Where one man makes big
fortune many fail. But that is the story of
all kinds of business. 1t is said that 80 per
cent Of the merchants fail. l think the per
nj rr,7fr t.
er than that OF men in other businesses"
MoFFATs BEST SPECULATION.
How about yourself, Mr.. Moffat; you have
made great deal of money in mines?"
Yes" replied Mr. Moffat rather modestly,
Il have made something, but / have lost a.
great deal. too Still, am pretty well ahead
of the game"
What is the best mining enterprise you
have ever engaged in?"
81 think that my best mine on the whole
has been the Maid of Erin" replied Mr..
Moffat. This is a silver mine. I went into
1t in partnership With Senator Jerome B.
Chaffee. The mine cost US all told about
$780, 900 to purchase and develop. We have
already taken out of 1t about S. 600, O00.''
How about the silver mines of Coloradoe
Are they still being worked?"
Yes. some Of them, though many have
been dropped for the time. The silver is all
there, however, and we will get 1t out when
the price rises. as l am sure that it will do
sooner or later"
FOREIGN CAPITAL COMING IN
us there much foreign investment now in
the Colorado mines?'
Eyes, the English are putting quite lot
of capital in at Cripple Greek and in other
parts Of Colorado. 1 happen to know this be-
cause much of the money goes through our
banks. The English are very shrewd invest
ors. They usually know beforehand Just what
they are buying, and they develop their
properties on business principles. There are
some Frenehmen who are opening mines
here. but nc Grmans. The Germans seem to
L.. IL l.. -