The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1900-06-15
MERELY A GAMBLERS CHANCE
There IL M seif-heg "'s""s
Ae.cy whatever Ab"ss the Fro
ducti0n Of Gold.


has estimated the expenses incurred oy
the Klondike miners during 1917 an"
1898 at SIS, 900, 900, certainly very con-
ssrvatiye estimate. Yet this amount ex-
eredsby more than $50. 100000 the value
~ all the gold that has been brought
ant of the Klondike. If We add to ~
an average OF two dollars per day for
one year (the writer well said mat
they would refuse in civilized coun-
try 10 do the work they did do at four
dollars per day. for each miner VINO
Gave M a year of his life in this enter
nrise. we have the sum OF $50, ooo,oOo'
and vet the gold which the hiohuake
has Welded would not purchase one
sixth of this amount.
IL these facts were true OF almost
any other industry people would turn
away to other pursuits. But the knowi-
edge of these facts does not Drive peo-
rle out of gold mining. Cold mining
i a venture of 50 speculative charac-
ter as to take it almost wholly out OIL
the category of ordinary industries. In
almost no other enterprise does even
the most sapguine expect 10 makev very
much more than the average OF those
who continue in the business unless ne
enioys some very exceptional advan-
taye such as discriminating freight
rates. for example. But the gold miner
is not dismayed by the fact. when ne
fully realizes, that the average return
is a heavy net loss; he knows OF q very
few cases where princely fortunes have
been made by men who had no excep-
tional advantages, but exceptionai
luck. and every miner hopes TO be the
one in a thousand who gains weaith
from the mines. Still the gambling goes
on. The miner keeps on till his last
cent is gone. and then reluctantly goes
10 some other employment for little
while till he can save enough TO get
new outfit-once in awhile he'makes
..strike" which prolongs the agony d
, little and tides him over few mont us
more than usual. The rich ranchman
steadily sinks all the profits OF MS
ranch in mining ventures, the clerk
pinches the spending of his meager sal
ary that he may ventures httie IN the
mines. Occasionally he gets back more
than he has put in. and this encoura GO
). him 10 venture more. and usually lost
!, ii all.
The experience Of the Klondike mines
has not been exceptional in this re
!, spect. 1t is only a repetition OF Sah
! fornia. OF Australia and of what ha
been for the Last generation going OF
!. in the Rocky mountains.
- Our industries must year by yea
l..
sustain themselves, as rule, or per
ish. But gold mining is parasite IN
- thistry. II consumes what itself Pre-
duces. and in addition feeds on the SUI
|" rlus Of staple industries Were IN
r not true we should of course. find tina
T. the impetus 20 gold mining would b
= rreatlv increased whenever prices wer
. very low ii. e.. when gold appreciates
- and that il would langush when price
:" rise. But il does nothing OF the sor
I" Increased production OF gold is almos
ie purely accidental. 1t is quite as likei
y 20 decline when prices are low, ana
e' rise when prices are high. rs the r.
ne verse. General prices. for example.
ur 1879 were nearly double those of 1so
~ vet the gold produced in 1893 was bar
IN one-third more than in the form'
es wear. On the other hand. from 1896
"a 1903. with general prices Increasing
ce rer cent. the output OF the gold min
we OF the world also increased more tn;
he 40 per cent. But this does not esta
x ish any rule either in the opposite
ow rection. because there is no rule
W. which production of gold can be fol
his cast.
'rs The practical application OF u
ed fact is not far to seek. There is
by self-regulating tendency whatev
NJ about the production II gold. q
ne those are reckoning OH wholly u
we certain data who suppose That I
aw recent gold discoveries nave effecti
~ settled any monetary questi'
the The gold production of 1900 see
ore likely to he the greatest in the worl
. history Whether the production
md 1901 will he still larger. pcrha
an. twice as large, or only half as gre
sin' is. a question upon which only bli
usf guesses can be made. All experieI
nee OF the past tends TO show the u
II lessness Of predictions.
cry There is one fact which seems
obscure the minds OF many pers'
Ave on this point. That Is. that y
No processes row enable much IN
are gold to be extracted from given mi
the than formerly. or. to he more ex'
our make it possible to utilize ores
ked lower grade. But moments Ct
rib reflection makes it evident that
He'd consideration influences only the
five .solute amount OF the metal, and
the relative quantity in success
r. periods. While we may expect !
the more gold will be obtained In
de- next ten years than would have .
'bua procured without these process
lone there is nothing about these proce
which tends in the least to limit
tuations. Whether more or less
: - will be obtained depends still
causes which are almost wholly
- dental. and there Is every reason