The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1917-02-22
SEEK GOLD OF CROESUS
PURPOSE OF PROFESSOR
COPPER BULLION is WORTH
MORE THAN COPPER
COIN.
Denver Mining Record)


Chinese copper coins, at the pre-
vailing prices for the red metal, have
value as raw material that is greater
than par. Certain Japanese who be-
came cognizant Of this fact purchased
some tons of these bizarre creations,
shipped them to civilized marts and
sold them at "A handsome profit.
Some doubt may be felt whether
such a situation ever will prevail in
regard to the new iron money which
has been placed in circulation by the
Austrian government. 1t smacks
largely of fiat mintage.
The iron coins, coming into contact
with the moist hands of humanity
and being exposed more or less to at
mospheric humidity would soon be-
come rusty but for the precaution that
has been taken to plate them with
zine What will happen when the
plating wears off is another story
Prospect for Ancient Gold.
''As rich as croesus" is saying
that has been handed down from gen.
GRAFTON to generation. Croesus was
king of Lydia, so presumably derived
his revenue largely by taxing the
people, receiving this tribute mostly
In the form of gold. which he kept in
great shining heaps under guard In
his palace. But one day there was an
earthquake and sundry commissions OF
nature which buried him and his
treasure house so deep that both have
since lain there unmolested. Now it
seems, however, they are to be pros
pected for, since e-spectacled pro-
lessor Of Princeton university has an
notnced his intention of going over to
Asia Minor very soon for that express
purpose We may now hope to learn
whether Croesus was a multi-million-
aire. as is supposed, or merely fin
ancial pker,
Right at our door, also, in troubled
Mexico, lies hidden the wealth of a
king. Unless tradition errs, Monte
yuma buried many ingots of gold
when hard pressed by the merciless
Spanards, and this hoard still remains
untouched, so far as is known. Then
why not form stock company hav
ing for its object the unearthing Of
the Montezuma treasure? If only one
gold or silver brick We're discovered 1t
would suffice to pay dividends in Villa
or Carranza currency for many years
on substantial issue of shares. The
scheme looks good We commend the
matter to the attention of George
Graham Rice.
Public Demands Publicity.
officials of certain of the smaller
mining companies are opposed to pub
licity and refuse to supply the press
do so. They take the stand that the
affairs of their respective companies
are none of the investment public's
business.
Officials of this stamp may be
crooked and wish to conceal how they /
have employed the funds entrusted to
their care by contiding stockholders. /;
Or they merely may hold such narrow ,
and obsolete views as to deserve being ,
placed on a parity with the discarded
flint lock musket or the tallow dip.
While mining is entitled to a posi-
lion of high honor among the indus :
tries of the world, IL has been given /
IN undeservedly bad reputation by J
lake promoters many of whom. un- 7
fortunately still exploit their nefari- n
rus schemes and rob investors. There u
S only one effective way to offset a .
deterrent influence of this kind and n
hat is by means of liberal amount III
# publicity. Most mining companies n
re honestly and ably conducted; and II
lnless capitalists as well as small in h
'estors can be convinced that this is n
o, they win place their surplus funds r
n enterprises other than mining and N
he broad development of the indus q,
ry will be retarded accordingly. Of in
cials of the larger mining companies
ecognize the value of publicity and
emonstrate their attitude by issuing
uarterly as well as annual reports to -,
hareholders besides publishing these
tatements broadcast in the press. :.
Although. as previously stated, the !,
eads of some of the smaller mining -,
Dncerns profess to believe in policy
concealment, such is not true of a
redomnating percentage of those
no have charge of minor companies
hey respond readily enough when -
sked for a statement for the benefit -
the public nor do they hesitate to o.
We out adverse facts, if any exist; 49,
I'd 1t is men of this type whose stew
'dship generally has been honest and
ithful. -.