Los Angeles herald., 1910-02-20
THE MINING CONGRESS

WE hope our citizens and business
w men will fully appreciate the
Importance of the fact that the
American Mining congress has decided
to hold its annual convention for 1910
in this city.
Los Angeles should be the center of
the industry of precious and semi
precious metal mining In the United
States. Its geographical and CONNER
cial location ought to insure this.
When we consider the fact that the
financial and commercial supremacy
which San Francisco first obtained and
has so long held upon this coast was
originally founded on mining, and that
the great aggregation of capital which
at the present time centers in that
city, came entirely from the mining of
precious metals we can begin to under
stand the Importance of our city
achieving recognition as the mining
capital of the west.
We have often felt that our bankers
and business men have not fully ap-
preciated and done justice to the busi-
ness of mining. There has been no
lack in our city of certain kind of
mining industry which finds it's most
effective promotion in selling stock
whose claims to valtte are based upon
reckless and unfounded advertising,
largely by circular. but sometimes in
newspapers. The Herald has set it's
face against this sort Of mining in
dustry. and has endeavored as far as
in its power lay to stamp 1t out in this
community, It has more than once had
occasion to expose mining frauds. 1t
has done this because it wanted to see
Los Angeles recognized as the center
of legitimate mining and not of the
mining that is done through the base
less prospectus of a fake mining pro-
moter. Our banks and business men
while decrying this latter sort of min
ing should recognize the fact that min
ing carried on In a business way Is
one of the greatest businesses of the
country. The last transcontinental line
Of railway built into Los Angeles was
built largely with money taken from
the copper mines of Montana and Ari-
zona and the gold and silver mines of
other states and territories by Senator
Clark, who has won a great fortune by
pursuing throughout all of his life min
ing as business. Mining when pur-
sued as a business is just as safe and
just as much entitled to the recogni-
tion Of bankers and other business men
as any 9TH limo of bi1Siuaeo II &c In
finitely preferable to some lines of busi-
ness that are recognized without ques-
ton by the business world, because 1t
can only succeed by. making actual ad-
ditions to the wealth of the world. It
does not depend for its success upon
getting hold Of money or property
which some other man has already ac-
cumulated. 1t succeeds by digging out
Of the ground actual value and adding
it to the store of the worlds wealth.
Los Angeles, by becoming the center
of the mining industry, will not only
benefit its trade very largely, but it
will also attract more In the future
than 1t has in the past, the millions
earned from mining for investment in
| homes, in business blocks and in vari-
GUS business enterprises in our city.
We hope our business men will
neglect no opportunity to advertise the
advantages Of our city as a capital for
the mining industry of the west when
the national organization of that in
dustry, the American Mining congress,
shall meet here during the current
| year.