The San Francisco call., 1896-04-29
CALIFORNIA STILL THE BANNER
STATE IN GOLD.
From the Argonaut.


The latest official figures on the bullion pro-
duction of California are at hand. The Mint
statistician shows that this State, in 1895, pro-
duced $15 1884 ,317 90 in gold and $599, ,7S9 70
in silver, as against $13 1863, ,2S1 SO, gold, and
1927 1851 50, silver, in 1894. The gold increase
of 1895 was $1.471, ,035 80 and the silver
$3o2,45S 10, a total of 81, 773, ,493 95. We thus
see that as a gold-yielder California maintains
her lead Considering the noise made by the
Cripple Creek excite ment and the other dis
coveries of note in Colorado, it was to have
been expected that that State would excel
California by many millions But, as matter
of fact, Colorado tails behind u.s. with an "esti.
mated" $15, 100000 as her gold product and
estimates rarely fall below the mark.
Colorado has made splendid advance, and
the activity of her citizens in advertising and
developing her natural wealth promise to do
great things for her.. But we have the ad-
vantage OF resources. Relatively to the known
riches of California those of Colorado are insig-
nifcant. Mining engineers and other experts
the world over are aware of California's nat
ural opulence. They admit 1t, talk of it freely
if asked, but have grown INTO the habit of TAX
ing it for granted that interest cannot as
readily be aroused in California mines as in
those of comparatively new regions. Novelty
and Imagination form q powerful combina-
ton. There is tradition, too, that the in
vestor here takes unusual risk of falling into
the history of the Comstock lode. which is sim
ply the history of one long swindle.
The Comstock Lode is in Nevada, and its
product has been mostly silver, but in the
worlds mind it has come to figure as q repre-
sentative California gold-field. That is our
misfortune and one that only gradually is be-
ing overcome. Writing will not make the
truth known to moneyed men with coin to
place, but the mines of California themselves
are doing the good work of enlightenment.
One good mine is worth more than 10000
newspaper articles and all the mining con-
ventions that could be held in twenty years.
The kind of information that goes TO capitalists
and is believed by them is the news of d1vi-
dends. The sort OF activity noticeable at
Angels Camp and at Coulterville tells the
story of what is being done and has in il the
prophecy of what is soon to be.
The Utica's enormous output has made
capitalists everywhere envious, and the work
OF development, now in progress an extern
siye scale on the mother lode at Coulterville,
has every prospect of being rewarded as richly.
Ii that shall happen. capital will come to Cali
fornia plent1fully. We cannot have too much
of 1T, no matter where it halls from. OF course
1t would be preferable were home capital to
appropriate the dividends, but home capital is
timid and sluggish and will only follow at the
heels of foreign courage. Consequently the
more foreign capital there shall be invested in
them. Hence double reason for welcoming
foreign money.
A State that, since 1s49 up to and including
1895, has yielded 81 ,269, i ,604 in gold by
official record, with many millions more that
went away through channels no account of
which could be kept has right to claim
been the product, it is but an indication Of
what is left for money and brains and muscle
to get. The opening of new mines and the in
coming OF capital have sent out the prospect
ors and brought from neglect many properties
that have long lain dormant. New processes
have reduced the cost of mining and corrected
waste as well as made practicable the opera
ton of mines that under old methods would
have been Improbable. Hydraulic mining
Will be resumed. Enterprise, stimulated by
success, VIII venture experiments and take
tInrr ,nf1 n
that are sure to be drawn by the more fortu-
nate Will do their part in squirting to emula-
ton. great mining boom is in prospect
The boom may not come this year or the
next, but it is not very far off. California,
mineralized in nearly all her counties, pre-.
sents a domain for exploitation beside which
South Africa, are distinctly inferior. II is q
neld IN which, considering it as q whole,
httle has been done, Notwithstanding its
colossal yield. There are hundred veins un-
touched for each that has been tapped. The
mountains are reservoirs of wealth waiting
lor capital. Experts as we have said, know
truth presently. They are learning it now,
ana their agents who come to make inquiries
ana investigate reports are increasing in num-
Der. ms sort OF thing grows in geometrical
proportion. Hence our confidence that min
ing boom such as California never saw before
is impending. 1t will be one accompanied by
stock speculation, of course, but it will be
grounded on mines and not on wildcats.
There are not many in California who are
aware of the growth of interest in mining
properties in this State which has taken place
wlthln period of three years. Companies in
London. New YORK and Chicago, composed of
men OF wealth, have been quietly organized to
MAKE Investments and their represen tatives
are iooRlng 1or producing mines regardless of
cost. Enorts have been made to purchase the
oEca and other great producers, but the own
ers very naturally decline to sell. 1t is not too
small, are being worked now in California for
one In 1898. Three years hence, If signs can
De relied on, there will be a dozen worked for
every one being operated in 1896. That will
be the boom, and when we have it, California
Will renew her acquaintance with that pros
perity which is her birthright.