The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1912-12-26
Mining AND THE
OTHER INDUSTRIES

r. G. Richardson, in Austin Reveil)e
just a few words regarding and in
defense of the mining industry. First
when you approach a man with
proposition to purchase a block Of
mining stock, he will say mining is
too much of gamble; IN put nv
mony in to some of the industries
where it will be safe.
Now a few comparisons. First, only
hve per cent in general lines of busi
ness succeed, while 10 per cent of all
those engaged in mining since Colon.
ial times have made a success Twar
ty years ago they commenced to i'm
prove on the old methods of extraction
and mining machinery, and the per-
cehtage OF success in the mining world
commenced to rise, until 1912. when
% per cent of all those engaged in
INNING were earning a profit. The
hrst quarter of 1909, there were five
metal mines in the United States that
PAID more dividends than 10 of the
biggest railroad systems, and their
capitalization was only one-twentietb
OF that of the railroads. In 1917 ont
or 24o mining corporations operating
west of the Mississippi river, 1913 were
paying dividends, rs were self sup-
porting and 42 in the doubtful class
N"v word regarding the gambling
sue or inning as compared with the
ihdust1als. On the mining exchange
n San francisco, where they deal ex-
ciusiveiy in mining stock, 10 per cent
succeed; on the board of trade n
onlcago where they deal exclusively
In farm products, only two per cent
succeed; on the New York EXCHANGE
where they deal exclusively in indns.
trials two per cent only succeed: of
the mining stock that is sold down
the line from door to door, 10 per cent
receive profit; of the Industrial stocks
Soid In the same way only two per
cent receive small profit, while the
profits from the mining stocks are
! large. So much for the comparisons
OF mining stocks and industrial stocks
We VIII now get down to the real i'm
portanee of mining and the effect il
has on the world IS civilization. When
they commenced to discover and work
MINES giving new wealth to the world
(and every dollar taken from the
mines adds new wealth to the worldly.
1t created desire for something bet.
ter, men began to have higher aims
Tor life, hence the dawn of our present
civilization, and were all the mines in
the world to close, the hands on the
dial of civilization would turn back
ward and we would degenerate into
savagery
Only for the lure of gold the Rocky
mountain region would still be un-
peopled by civilized man. If the mines
OF the west had not been discovered
and developed, there would have been
no transcontinental railroad, no steam
ship line plying between San Fran
cisco and the Orient, and the 26S.OO0
factories, working 100000 people
II the United States, would be un-
heard of. The mines furnish the basis
of all values, they are the foundation
OF our nation s credit and this is true
of all other nations. Had it not been
for the mines, Nevada would never
have become a state, yet the Com
stock, Austin and other Nevada mines
~
very important part in the mainten-
ance of the Union army, and made it
| possible for the government to carry
on an aggressive campaign from 1861
to 1865. The world knows the rest.
The state of Nevada, from the time
of the opening of the great Comstock
until July |, 1912, has produced ST.
100000. OF this amount the Com
stock has produced more than $780,
100000 and made the bonanza mining
| kings of California famous throughout
the world, but the average man does
not know this, or does he care. The
average mans knowledge of the min
ing industry even in our own country
is simply appalling.
Nevada was practically abandoned
for 20 years. In 1900 and 1901-2, Ne
vada only produced from three to five
millions, and the dividends were so
small they were not worth mention,
but in five years, that is, from 1905 to
! 1910, Nevada s mineral production
raised to $34, 100000 and took first
place of all states in the Union as a
dividend payer. Montana came second
with her big Butte copper mines; Ari-
zona third; Michigan, with her famous
Calumet and Heela, was fourth, Utah
fifth, colorado sixth and so on down
the line. This year, 1912, Nevada will
produce over $35,000,000 and will pay
more than thirty per cent of the gross
production in dividends to those who
hold stock in Nevada mines.
This has all been brought about by
the persistence of the hardy pioneer,
brave men banded together and push
ed their way beyond the borders of
civilization into the heart of the coun-
try inhabited by numerous tribes of
hostile Indians. Some met their fate
by the tomahawk, many left their
bones to bleach on the sunbaked des-
erts of the south, while some perishet
in the cold, ce-bound mountains of the
north, but others took their place and
forged ahead and won the land for
civilization. Who knows of their
hopes and fears, of their day Dreams
tha haart aches of failure their sun