The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1912-12-10
MINING RESENTS
FEDERAL CONTROL

Capital that has been accumulated in
manufacturing may require to be edu-
Gated before it will seek perpetuation
in the mining industry. Sometimes it
has been said to have had too little
education in the choice of mining in
vesiments, but that was not the fault
Of the miner. Capital that has aceru-
ed from successful mine operations
possesses the intelligence thai is born
Of actual experience with the thing
which it approves. If it were limited
to mining as field of investment,
fewer available opportunities would
be subject to neglect; but individuals
who have profted lavishly by their
operations in the industry often feel
disposed to retire from it, to turn to
standard stocks and bonds for their
future income and to take rest from
the invigoratng exercise of finding
new mines. 1t is perhaps for this
reason that the mining industry seeks
tc compensate for the removal Of its
own accumulated capital to other
spheres by investing, and even allur-
ing, the capital that has been piled up
in manufacturing, agriculture and
commerce..
Mining corporations, owning pro-
ductive mines, are a helpful source of
capital for new enterprises, and the
best sources withal because they have
the experience and because, by the
very nature of mines. they must per
petuate themselves elsewhere, if per-
petuated at all when the original pro
L ~ a. .e,,I.
Frequent examples of this are noted,
and prominent among them are the ae-
tivities of the Tonopah companies in
employing engineers to investigate
other districts The tendency of the
incorporated bodies Of miners to re-
tain their organization in the produc-
tive field, to continue their redeemed
capital in similar enterprises else
where, is an excellent sign and a
promise for at least a part of the min
eral territory Of the west which re-
mains undeveloped.
It would seem that the problem of
/ securing the proper amount of capital
for coed mining ventures, especially
those that are relatively small, should
receive more general study 1t has,
4 indeed occupied a great deal OF at
tention from the American Mining
/ Congress. while at last week 5 session
in Spokane the delegates were very
much exercised over the consideration
of proposed government measures to
prevent mining stock frauds Appar-
emily there is a growing feeling
against so much state Interference
with investments; not because there Is
any less opposition to fraudulent
schemes, but because of the official,
not to say officious, system Of espion-
age which has grown mp with the gov
eminent and the authorities Of some
of the states Men having worthy
mining proprties have not escaped the
indignities that it is possible for a
lf-satisfed inspector to heap upon
any business against which he may
he 9sturned loose. Some who have
been so affected are beginning to ad-
vance the opinion that government
state inspection has been used less to
prevent mining frauds than TO inter
fere with prospect development, some
what in the same manner that the
conservationists have sought to para
I'VE western industry in the name OF
public righteousness.
However this may be, the mining IN
dustry itself should look after some
of these questions in a sane way, and
not leave the matter to its critics ~
other industries
The American Mining Congress has
long been found ready to give atten'
tion to every question that concerns
the mining industry, and this Is one
that most assuredly deserves the can
did consideration Of those who are IN
terested in procuring new develop
ment for the western distnets.-Min
inc Science.