The San Francisco call., 1910-05-22
CHEAP MONEY BOON
TO STATE Mining
Many New Companies Organic
ing to Develop Vast Virgin
Mineral Resources

Prominent miners OF the state are
on money required for the prosecution
of various industries are declining. All
sorts of mineral industries are increas-
ing in Importance in all parts of the
state. While the production of petro-
leum has scored a phenomenal advance
in the last two or three years. the
pr !, ction of gold and copper has also
largely increased.
Quartz mining for gold is a very ex-
pensive undertaking. Even the dredg-
ing for gold involves a very large eX-
penditure for dredging machinery, for
payment of tracts of lands sufficiently
large to constitute the basis of pay
ing enterprise and the same may be
said of machinery for hydraulic min
lng- 1t may not generally be known
that the gold output of California in
1908 was more than $2,000,000 greater
than the production for 1907. The
basis of the mine returns for 1908
made the total gold product for that
year s1S.761,559. If the figures sup
piled by the United States mint, which
are derived from returns from refin-
cries, assay offices, branch mints, etc,
are added, the total gold production for
1908 is more than $19,OOO,00O. or ap-
proximately $5.0O0,O0O in excess of the
total output in 1907.
Bankers concede that cheap money
viii assist in the development of all
sorts of enterprise. They are pleased
TO hear that the miners are finding
encouragement in that circumstance.
California has made a great record for
gold production, which is in the ag-
gregate represented by $1.4SS,275 $50.
a lar in fr,Sv
francisco report more inquiry for ma
chinery at present than for some time.
That there has been a recovery is
SHOWN by the returns from the gold
dredging counties for last year. Butte
county dredged out $3.OOO,0OO, Sacra-
mento county $1.OOO,OOO. Calaveras
county about $1,00O.000 and Yuba
county practically $4,000. 900. These hg-
ures do not show the total gold out
put of any one of the counties men
toned, because they also mine gold by
other processes than dredging.
1t will be noticed that the lower rate
of interest has been made a leading
topic of discussion recently on the part
of those who have the welfare of Cal
ifornia in view. This has occupied
hardly less attention than the neces-
sity for the reduction of the fire in
surance rates throughout the state
Thlrty-one counties are mining gold
Practically every one of the 5S coun-
ties of the state is concerned In the
production of mineral substances of
some sort. Cheap money will promote
the economical mining of more than
so mineral substances. The mining of
gold, with the aid of low interest rates,
takes precedence in this consideration
because the gold miners, who employ
costly machinery, have been among the
nrst to call attention TO the advantage
created by the new lower rate of in
terest.
A brief recapituIation may show the
extent of territory, and the variety of
great mineral Industries that may be
affected by low priced money. The gold
counties include the following:
Amador, Butte, Calaveras, Colusa.
Del Norte, Ell Dorado. Fresno, Humboldt,
Mariposa, Merced, Mono. Monterey. Ne
vada, Placer, Plumas. Riverside, Sacra-
mento, San Bernardino, San Diego,
Shasta, Sierra, Siskiyou StanisIaIls
Trinity, Tuolumne and Yolo.
The copper counties include Amador,
Calaveras, Del Norte. Ell Dorado. I'm
perial, Inyo. MADEIRA. Mariposa, Merced:
Nevada, Riverside, San Bernardino
Shasta and Siskiyou.
The petroleum producing counties are
Fresno, Kern, Los Angeles, Orange, San
Luis Obispo. Santa Barbara, Santa Clara
and Ventura.
From all parts of the state the infor-
nation is derived that the production
of gold, copper and petroleum and also
the structural materials that are de-
rived from quarries and clay beds,
promises to make a better showing in
1910 than at any time for many years
New companies are organizing that
will require capital for plants and ma
chinery. The gold dredging area is in
nrsaa a-ir
line of gold production in which il is