The herald., 1897-07-08
ws and orphans as solid income secur-

|
ities
THE craze of the past generation has
, been railroads. We have gridironed the
nation with parallel lines. 1t has taken
almost a revolution and untold disaster
| to small investors to convince them that
stock in many of these over-mortgaged
roads has as little intrinsic value as a
share in Bob IngersolPs heaven. In
vestors have been afraid of propositions
looking to the development of our great
mineral wealth, yet have welcomed with
open purses securities that had no foun-
dation but that element of nature of
which the Scriptures say thou canst
not tell whence it cometh and whittier
| it goeth.
| II speak of mines, not as basis for
speculation. but as a working enterprise.
requiring the same attention to detail,
the same careful management as you
would give to mandatory or mer-
camille establishment. The prospector
has driven his stakes along every lead,
he has not the means to develop, but
waits for the capitalist.
Never such field for investment,
never time so auspicious, never has
gold been worth so much, and never
could it be produced SO cheaply. Me-
chanical skill, invention and science
have joined hands until the cost of re-
duction is less than ever before. At
Idaho Springs a stamp mill reduces ore
for s150 per ton. with rebate for large
quantities. Railroads thread nearly
every mountain valley, so that freight
is no longer a serious problem-mines
may defy legislation. but not transpor-
tation.
"The mining past of the Rocky Noun
taips, with all the disadvantages, is the
voucher we offer for the future. Never
more inviting opening for investment,
not only profit, but the added charm tina t
the production of the precious metals
has for most mortals. All other products
perish, gold and silver remain asperma-
nent contributions to the wealth of the
world. In their production you compete
with no one, injure no one; you promote
the welfare of all. Production of gold
adds to the value of every product of
field, orchard, pasture. You give work
to laborer, mechanic, professions; pat
ronage to merchant, manufacturer; sup
port to every industry. No concern as
to markets, no fear of overproduction.
He who discovers a new Cripple Creek,
Leadville or a Sap Juan is benefac-
tor-a Columbus. Every great mine is
milestone on the road to financial and
industrial redemption. Few explorers
have ever endowed a nation with a
richer dover than the prospector; he it
was who gave California, Colorado, the
West to civilization.
But for the mines there would be no
Denver, no great West today. The from
tier would have rested on the Missouri
River The Colossus which Tom Benton
wanted to see cut upon the very crest of
the continental divide pointing to the
West, to India, has never been craven; ;
as a substitute there should be placed
a mightier statue of a mining prospector
upon some great peak, whose sweep
would take in every city and home, every
school house and church, every mine and
railroad from the Missouri River to the
golden sands of the Pacific. Upon the
base of the figure could be carved irs
truth: These are my achievements,
there are the trophies of my hardship and
daring"
At the afternoon session Mr. Scott of
Omaha, chairman Of the credentials
committee, reported that there were no
contests and that the committee had it,
vited all who were interested in mining
to become delegates and participate in
the discussions. The report was unani-
mously adopted.
r. F. Hunter, chairman Of the commit
tee on organization and order of busi-
ness recommended Bradford Prince of
New Mexico for permanent president,
David T. Littler of Illinois, John Dern of
Utah and Gen. Alexandra Ybarra as
vice presidents at large, and that each
state select vice president and member
of the executive committee from its
delegation.
Hon. Irving MacMahon of Colorado
was named for permanent secretary,
and O. w. Crawford Of Illinois as assist
ant. 1t was also recommended that all
discussions be confined to mines, mining
and kindred subjects and that every
state, territory or foreign nation be al
lowed ten votes providing they have
that many delegates present; if not,
then one vote for each delegate. The
report was adopted.
Earl B. Coe of Colorado introduced
resolution calling upon congress to put
cyanide of potassium on the free list:
M. d. Herring, delegate from Texas,
resolution authorizing the president Of
the convention to appoint committee
of five to investigate and report upon the
advsability and feasibility of memorial
izing congress to create department of
mines and mining, ard for the appoint
ment of head thereto who shall be
styled the secretary of mines and min
ing and shall be member of the presi-
dents cabinet. The rules were suspend
ed and both resolutions were adopted.
After the appointment of the usual
committees the convention adjourned
until tomorrow.