The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1913-08-28


to the ground than has ever been TAX
en- out OF IT, has again appeared in
print" said Butte septugenarian,
whose boyhood days were spent In
Virginia City among the Comstock
bonanzas, as he laid aside the paper
he had been perusing, relit his cigar
and fitted his body into the accommo-
dating luxuriousness of a leather COW
cred lounging chair. says the Butte
Miner
AS a matter Of fact" he continued,
mo more fragrant untruth has ever
become a maxim, and that Is pretty
strong statement, for experience has
convinced me that most so-called max
inns are untrue and as little worthy OF
credence as our present day bromides.
However, we must not go of the ques-
ton altogether, and so ! will content
myself by asserting there has not been
as much gold put into the ground as
has been taken out Of IT, and will Of
fer you my proofs in substantiation Of
that statement.
Constock Production.
Thousands of well meaning people
and newspapers have repeated the
ridiculous old saw ] have quoted and
have accepted 1t as gospel without
question; yet the fact is that the Com
stock mines alone, with an aggregate
production OF approximately $75o,ooO,-
600, have yielded more of the precious
metals than was contained In all the
dollars that have been expended in all
Of the gold and silver producing dis
tricts on this continent.
Ono Shaft $14o,ooo,oo
There has been hoisted through the
Consolidated Virginia shaft, which
pierced the argentiferous heart Of the
famous Comstock lode, In excess Of
$140,00O,000 worth Of gold-siver ores
The dividends paid by the Consolidat-
ed Virginia Mining company amount
ed to the stupemdous sum Of nearly
sS5.170,0OO.
THE fortunes dug from the depths
Of the Consolidated Virginia have been
instrumental in the rearing of many
cities that front the Pacific coast. have
done yeoman service in the stretching
of cables across the Atlantic and Pa
cifc oceans; have played an important
part in the connecting of the two
oceans by rail- have bolstered the
credit Of nation in time of war and
financial embarrassment. All these
things they have done in the past, and
yet today they participate as actively
In the carrying on of the worlds af-
fairs as they did several decades ago,
when the splendor of Nevada's silver
star was first seen In the constella-
tion of the states.
Like Other investments.
"rhat the element of financial risk
enters into the business of mining
will grant you although ! will not con-
cede, numerous ignorant or inspired
writer's to the contrary notwithstand-
ing that the percentage Of risks Is any
greater than attaches to any other In
vestment.
"The hazard associated with the mi
ming industry is no greater. whete
modern economical methods are en-
ployed, than in any Of the multifarious
industries which go to make up the
commercialism OF the world. Mining
is a business, just the same as manu-
featuring steel is business, and Is
fully as scientific business. 1t has
been made so by the adoption of pro-
per business methods and improved
and the employment of
expert biologists and chemists. II Is
gravels of Pactolus were discovered
most of the great mining finds Of the
world can be traced to men having lit
tie book knowledge Of geology, but it
Ia also true that no prospector ever
developed mine without the aid of
technically trained miners. 1t Ia
equally true that as the golden sands
Of Pactolus made Croesus the richest
man Of his time, so the fortunes in
precious metal Iladen ores extracted
from the earth since that momentous
event have been and are numbered
with the largest ever accumulated by
man. I will cite few of them.
Names MiIIionairss.
THE Guggenheim brothers have
fortune estimated at $780,
100000 as direct result Of their
mining and smelling operations. The
Hearst estate, which has an estimated
'alue of s40,0OO,0o0. had its genesis in
he mining operations Of the elder
Hearst in Nevada and other western
tates. The estate left by James G.
Fair had value Of s25,000,000. Sen
tor Fair dug his millions out of the
lode. The Marcus DAILY for
une. which Is estimated at $25,000,000,
ras dug from the hills OF Montana.
he w. A. Clark fortune. variously
stimated, owes its being to the min ]
ig industry. i
Samuel Newhouse, known the {
'orld over as a successful operator Of q
lines and smelters, began his career
a shoestring In Leadville.
Captain DeLamar has fortune Of
represented by mines and p
Meters In Utah and other localities. 1
The Sharon estate has value of a