The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1908-02-29
CLAIMS OF MINING
UPON CAPITAL

It Is only a few months now since q
great deal was being said Of the pre-
sumption Of the man who attempted to
induce a depositor IN a savings bank to
withdraw his money and invest IL In
mining stocks. 1t Is only q few brief
months since the New York stock board
admitted mining stocks to its lists. Be-
fore that there had been q superstition
that dealing in mining stocks was
gambling, dangerous. not Legitimate"
II was so even in this city, the home OF
m~ine-share trading. where the exchange
that deals in stocks and bonds held tt
self aloof from mining securities. But
now it's members, OF some OF them. have
Joined a mining exchange and do
business they can get to do In that line.
And now, too. Il causes no astonish-
ment nor distrust to heal a man advise
investment in mining securities or prop
erty in preference to depositing the
money on hand in a bank. Banking has
had a hard rap. 1t was hit by the with
drawal of money as a result or the
panic, by the hoarders and by the dis
covery of the crooked methods of some
of the banking institutions. Formerly
people believed that a a was the only
place where their money was absolutely
safe. They do not think that any more.
They still know that many banks are
solid and safe, but they know that some
nave been shown to be unsafe. n they
are looking about for safe Investments.
They have found out that when they put
their money In banks 1t is taken out and
invested for the gain Of the bankers.
Before the recent revelations people
acted as though they thought that the
money they deposited in a bank was
locked up in a vault and kept there. 1t
was to the interest of the bankers not
to disturb this implicit confidence, and
to approve of the distrust of mining in
vestment. In New York the financial
journals. publisher mostly in the inter-
est Of banks and judiciary institutSns,
inveighed against the folly of taking
money out of a bank n putting II into
a mine. The depositors in the Knicker-
booker Trust Bank in New York and
those who put their money in the Cali
fornia Safe Deposit and Trust company
in this city no doubt lament the fact
that they so distrusted mines and SO be-
lieved in banks.
Not alone do the bank failures show
the wisdom Of mining investment. Gov
figures show 1t. According to
these, mineral products are near the
head of the list Of national assets. The
entire mineral production of the United
States was 81, 623, 92S. 100 in 1905. $780,
sos, 20s in 1906, and approximately
So, 900. 0o0.0 900 in 1907. In 1906 the
try produced ss4,s73.s0o in gold and
s3S, 256, 400 in silver. In 1907 the gold
output was sss.s2o.sss and the silver
8 7.571.5s
This sounds very much as II there
were money, real money, in mining. 1t
sounds as though the industry was OF
sufficient Importance to be regarded as
legitimate by brokers. many of whom
are not any too legitimate themselves.
1t demonstrates that mining constitutes
one Of the greatest industries OF the
and Is a worthy field for In
vestment.
California and Nevada are at the head
and front Of mineral productivity in this
They offer abundant oppor-
tunity for the investmen of capital, and
It will be seen that they will attract a
vast quantity of money that otherwise
would be boarded in banks. The outlook
for mining is bright. Statistics stand
as a Of strength in its support at
a time when industrials have demon
strated their fckleness and banks have
proved themselves capable OF erring.
There will be plenty Of money loose and
looking for investment a little later In
the year and mining will get a larger
share than ever before.-Mining and En-
cheering Review.