The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1905-12-15

MiIIionaires of the Next Twenty Years Will be Made in
Gold and Silver Mining


and other causes, quite low grade ore
running but a few dollars per ton, can
be p%roftably handled.
81 think, however, that the most re-
markable example Of this is the Com
stock, in Virginia City, New, in which
district / am interested. The Com
stock is the most wonderful mining dis
trict ever discovered, having up TO
date produced something over $780,
600, 900.
"The history of the camp reads like
an Arabian Nights fairy tale, just be-
cause of the fabulous riches that it has
produced, and the tremendous forum IS
it has made for some of the big opera
tors, as well as a number of the smaller
ones.
"The most wonderful discovery was
the Great Bonanza, a discovery 80
great that the United States geological
survey report says that mo discovery
tudL mdtCucS L udS UcCn lldoC Oh thAo
earth from the day when the first
miner struck a ledge with his rude
pick until the present. The plain facts
are as marvellous as a Persian tale, for
the young Aladdin did not see in the
glittering case of the genii such fabu-
lous riches as were lying in that womb
e -1al TLo I:.or 80 {h1 ,o,nf
made a personal inspection of the
Great Bonanza and reported that, in
his opinion, it would yield $780, 900 900.
eyes; some money was made on the
stock, for in AZ months it rose, on the
open market, from 81 to $500 per share.
"This was several years ago, and in
those days ore that ran less than say
$50 per ton was simply thrown on the
dumps; and the interesting part of it
is just this, that today, a beginning is
being made to attack the great wealth
of this ore that was unusable in for
mer days; for now ore can be mined
and milled in large quantities, and with
modern machinery and methods, in that
self-same Comstock district, for a fifth
or sixth of the cost of former days.
81 consider that mining offers to the
moderate investor the best opportunity
today of making big profits. True,
there are failures in the business, but
most of these are the result of lack of
money to properly equip and develop
the property; or, as in the majority of
cases, bad or incompetent management,
usually caused by the idiocy of eastern
companies of sending out as managers
of mines men who usually are friends
of the management, but who know no
more about practical mining than a
mule knows about a mouse trap. l
could tell you of numbers of cases in
which this has been done, and the east
ern investors have lost money by their
foolishness, and / have seen those self
same mines that were reported to be
no good taken hold of by p~ractica al
mining men and made to pay hand
somely.
"a mine is like any manufacturing
plant; to be a success it must be ada-
quately financed, properly equipped,
economically run, intelligently and
honestly managed, and when these
conditions are fulfilled the stockhold-
ers will have far ampler returns for
their money than they could possibly
have in any other type of money-mak-
ing.
because of these reduced costs of
handling ores and the better under
standing of geology that now exists, .
firmly believe that Charles Schwab, the
steel magnate, was right when he said
in his speech in Nevada, on October
9TH last, that the '~millionaires of the
past 20 years were made in manufac-
turing, but the m~illionaires of the next
20 years will be made in gold and silver
mining"