White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1910-11-27
FROM WEALTH
TO BANKRUPTCY
FROM RICHES TO POVERTY Is
THE HISTORY OF MANY WHO
ACQUIRED FORTUNES DURING
BOON TINES.

A number of years ago. during the
great mining boom in this state. when
Tonopah was ar the heighth of its
glory, when fortunes were made daily
in Goldheld. there were hundreds of
men who were suddenly raised from
almost AFFECT poverty to positions OF
affluence. From an empty pocket
they were able 10 count their wealth
by the thousands. the quarter Of a
million. Or even more; in addition 10
which they were possessed OF stocks
and mining shares that had good sell
ing values. and we're in active de-
mand.
Where are the fortunate mes noS2
How about their wealth and az
luence? The echo of the inquiry.
reverberating through the hills AND
canyons OF the mining camps. comes
back without an answer, for the great
majority Of these successful ones are
now down and out. Some few there
are who kept their heads during the
great mining booms. IA kept their
wealth as well. The balance Well.
now and then We viii meet a ragged
down-at-the-heel man in The streets
of some western metropolis. or in
some remote camp in the his. Who
will tell you that he made a min; Of
money during the Tonopah and Gold
field booms. but that he could not
keep Il: that il came too easy. that
he foolishly believed that prosperity
would last forever. and that. instead
of laying aside a nest egg. lie squan-
dered his wealth in the effort and
with the belief that he would qui. a
millionaire. He will tell you. also.
that he branehed out into every
proposition offered. no difference
whether possessing merit or not That
he had o many irons in the fire.
and thai he could not attend 10 them.
He viii tell you, also. that The stocks
from which he might have made
thousands, when they were salable
and active. he held for millions and,
that when the crash came. he had no
money and could not dispose OF his
stocks. At the close Of his narrative
be viii tell you a truth which you al
ways suspected. and that is that.
with his many failings he vas in
sane.
This is the keynote TO the whole
proposition. When a man is sudden
iy successful. when he makes barrels
of money too easily. he generally be-
comes insane. he believes there can
be no limit 10 his success: he refuses
TO use the slightest safeguard in the
protection Of his newly rich posi-
ton. and the result is soon evident.
for. with him II is but = step from
wealth 20 bankruptcy.
though no other avenue presents such
an opportunity for easily acquired
wealth. but il Is due TO The fact thar
when success on a gigantic scale.
comes 70 the average man. he loses
his keen business instinct. il he ever
had any. and goes as wild as a Span
ISL bull when a led flag Is waved in
its face.
IL Is really better for the mining
districts Of the vest when they can
attain prominence without the aid of
a boom. A camp that is developed
and operated strictly on its merits Is
in much better condition than one
that vas brought 10 life through the
throes Of a boom. and, the man who
has made big money through the ac-
tual making of a mine. after DAYS and
months of toll and h~ardships. has not
been carried of his feet. and is
more likely 10 hold his own. and pui
his wealth TO some good use. than
viii the man who made his pile" b
selling a prospect in an undeFeloped
camp and who dab5led In wildcats
until he could not tell whether be
was a-foot or horseback. as the say
ing Is. Fortune is a ickle thing. al
best. but. the success which comes
too easily is the hardest thing TO
cling 10. as hundreds Of mining mel
Of seeming wealth a few short years
ago. can truthfully attest.