The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1915-01-16
Good Mining Year Is Here

The year 1915 will be a good mining year" according to the state
ment OF a New York mining engineer recently to the Denver Mining
Record. This moves the Record to say that there is deep significance in
such a prophecy, coming as it does from : city whose only mining activity
comes from finding subterranean routes for municipal railways. Some
men in the great metropolis will tell you that New York is the greatest
mining city in America; in a very true and eloquent sense this view is
correct.
A good mining year means a year in which financial activities are, in
an exceptional measure, directed toward the business of mining. The
prosperity of business does not reside alone in a high degree of productiv-
ty; expansion is the measure of good times Only when capital is seek
ing new outlet is capital really functioning. Then is that We have
prosperity. Therefore, a good mining year is not alone made by the mines
themselves, nut by the masters OF capital who develop them. In the same
sense is it true that a good railroad year is one in which capital possesses
the inspiration to bear fruit by the financing of railroad improvements.
When growth ceases, decay sets in.
By this sign we appreciate the significance of the prophecy from a
great financial center which predicts the coming of a prosperous year in
mining. The meaning of it is that capital is setting its face toward the
mining industry. We have evidence of this already in the renewed activ-
iy in Nevada and Utah and Cripple Creek stocks. Gold mining is espec-
tally attractive owing to the conditions imposed upon is by the warning
nations of Europe.
The first of the year is not only a time for good resolutions but it also
seems to be a favorte period for starting things. New enterprises fire.
4uently are financed in the fall months, but for some reason-supersti
rious o otherwise-they seldom begin active operations until after the
first of January. Many organizations, particularly in the mining line,
have long been under way and no doubt will become potent actuaties in
the near future. Brisk activity promises to follow a lengthy era of bust
ness somnolence.
Although diamonds have a much higher market value per carat than
gold, their price is based upon the frvoity of nations rather than upon
the actual needs of commerce or society. Prior to the present war, con-
tinental Europe afforded a prime mart for precious stones. The outbreak
of hostities was quickly followed By the extensive destruction OF proper
ty and a consequent impairment Of notable fortunes. The demand for
gems suddenly halted. Business in the United States wa sharply checked
as a reflected result OF the European lmbrogio and the purchase of lux
uries was curtaned. This country ceased to be a profitable customer for
diamonds. Owing to these conditions, the diamond mines of South At
RIGA have practically quit operating. They must remain unproductive I'M
til the luxurious make a further call for expensive baubles.
No one ever heard OF a producing gold mine discontnung work be-
cause of the existence OF war, famine, pest1ence or panic. Whatever
happens seems only to augment the demand for the yellow metal. There
is a logical reason for this. Gold is something more than a necessny-t
is the medium that makes possible the production and Use of practically
every essential for the continuation of human life. People must have it as
a matter of self preservation.