The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1915-01-02
THINKS NEvAOA'S
FUTURE BRIGHT
FORMER GOVERNOR COM-
MENTS UPON DISCOVERIES
IN GOLDFTELD
Cd. S. Dickerson, in Nevada Demo-
craft

moi uuGluS Inc DRot ShA gSohS 1900
mining in Nevada, both the indus
rial and speculative phases of the
business, been more prosperous or
looked so promising as it does to-
day. During recent years it has been
next to impossible to secure capital
with which to open new mines; but
owners of partially developed pros
poets and old mines, in numerous
instances abandoned ones, have
worked persistently under the handi-
cap of a dearth of money; frequent
ly doing this work with their own
hands and have thus managed to ex-
list during the lean years. That
their efforts have been crowned with
partial success, at least, is demon
strated by the ever increasing min
era production of the state.
The immediate cause of this sud
den revival that has healed hearts
made sick by hope deferred was the
sensationally rich strike made in the
Jumbo Extension at Goldfield ONE
weeks since. That is an old story
now, that has been told often n
repeated in print; of how that stock
jumped in price from a few cents to
dollars, increasing in value half a
hundred fold; of how the owners
have become m~illionaires during two
or three changes of the moon; of
how the spectators who learned Of
the strike or sensed a chance of Il
killing have made their thousands
or hundreds, as the case might be.
That, too, is an old story in Nevada;
the pages of it's history are sprin-
killed. thick with such narratives. The
Jumbo Extension has made another
group of Nevada mining milliOnaires,
but it has also done a bigger and
better thing than that.
By opening up this Midas treas
ure vault. it has inspired confidence
in men, driven fear from the heart
of that arrant coward, capital; re-
leased money, enabling other mines
to resume work and furnish employ
ment for men who need it. In opti-
mistic sympathy, other GOldfield
stocks, have advanced quickly in
market value, with an active demand
for all. Much outside money is
flowing in for these speculative in
vestments at the bargain counter
rates, at which they have languished
and stagnated so long. But the sur
prising feature Of the revival is the
large amount of money that has been
dug up here at home and put in &C
tive, eager circulation through the
buying of stocks. Where did he
get it?" is a query one often hears
when it is learned that some man
not thought to have spare cash for
purely speculative purposes is re-
ported to "be in the easy money"
Nor does Goldfield alone exper-
it's resulting revival of activity in
mining. The spirit is gradually en-
veloping the state, there is a general
feeling of optimism, the hope is en-
tertained hat the long dull period is
approaching it's finish and that Ne
vada will soon again be the scene Of
widespread prospecting and legiti-
mate mining operations
No one expects or wants a repeti-
ton of the stock gambling saturnal-
ia with which we were afflicted some
years since; one of those financial
crazes which the world experiences
periodically, whether the occasion Of
the craze be a fool fad for Holland
bulbs, a Mississippi bubble, a rubber
plantation excitement, or a town lot
boom, all of which leave disaster in
their wake and cause the pendulum
of trade to swing back towards de-
preston and stagnatiOn. What Ne
vada want and, if the outward APP
pearance of things are not deceiving.
will at no distant day secure, is the
intelligent, honest development of it's
matchless precious metal resources,
for which the investment of outside
capital is necessary.
Already inquiries are being re-
ceived by mining men for properties.
Just at present the demand is con-
fined to gold producers for the mex
plicable low price of silver has shut
down several mines where in the
white metal predominates and money
is rarely placed on a dead card. But
the depression in the price of silver
is thought by the best authorities to
be only temporary; that when normal
conditions are restored it will o to
the high water mark since demone-
tiZation.
The act of warning nations. in
placing copper on the list of contra
bands, has given that branch of min
ing a very black eye; from which it
is feared that it will not fully re-
cover until European people are
satiated with slaughter. But the
copper interests, at least in Nevada,
are in better position to withstand
this siege than are the silver pro-
ducers, for they are fortified with