The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1918-11-28
Cooperation in the Mine Promotion and
Management.

places, where the outlay does no,
benefit the country which is the
source Of the spender's afrluence. Ne
eessarily. there must be a few who
gain more than others, but their pros
perity should arise from the fact Of
their having held the larger share
upon cooperation and mutual nrof,t
not on the destruction of the smaller
investors.
me plan of undercapitalizing some
prosperous undertaking should be
tried, afording the public an oppor-
tunity of participating in a share
holdlng that will inevitably net a
large premium. The financial house
that secures the reputation for such
business will have no difficulty in at
tracing all the money it requires,
and attracting it from the better and
saner class of conservative investors.
II the suggested tactics are pursued,
II VIII have a far longer, happier, and,
ultimately, more prosperous exist
ence
The business Of mining finance
house is to provide the means for
thoroughly investigating properties
and honestly calculating their posi-
biltties. Having done this, let it con-
ceal nothing with regard to the pre-
liminary work and expense. and then
invite the public to subscribe on a
basis that indicates an obvious prem
ium on the shares. The public, UNI
der such circumstances, will not
grudge the relatively large proportion
allotted to the promoters.
Cooperation Desirable in Mine Opera
A similar poncy VIII succeed in the
management of the individual under
taking. In many countries millmen
and miners look upon their work as
a profession. In this country there is
a tendency to regard any man, ire
spective of age or training, as good
enough material. The result is that
labor is frequently inefficient migra-
tory, and little interested in the COM
pany's welfare. Just as the financial
house should make friends of it's
shareholders, and practically consti-
tute them a permanent body of part
ners who can always be relied upon
to reinvest the profits of one UNDER
taking in another proposition under
the same auspices. SO the individual
company should make friends with it's
staff, and enlist the interest of the
men in the welfare of the mine. A
contented workman swears by his
mine, and is proud of it. The miner
should be brought to interest himself
in the output of mine, in the same
way that fireman interests himself
in the speed trial of his ship. An in
crease of a dollar ton in recovery
should be an occasion for rejoicing
it should give the workers the exhil-
arating feeling of having backed a
winner.
The popular fallacy that the inter-
ests of employers and employees are
is in no industry more
untrue than in mining. If the owners
of a mine would see that the worker
has reason to boast of his condition
and prosperity, they would soon have
occasion to boast of their own pros
perity.
The shareholder comes into the fin
ancial undertaking when the greater
risks have been overcome. The mine
worker often receives his regular
wage during periods when the output
does not justify the operation of the
mine at all. In both cases those who
have borne the risk are entitled to a
profit that is large in proportion to
the general results. The shareholder
receives an approximately even and
regular dividend; the worker has ar
approximately even and regular wage
But when, in either case, luck accrues
to the entire undertaking, all should
benefit. The recognition that thos'
who take the greater risk are entitled
to larger share should be recipro
Gated, when unexpected prosperit!
arrives, by considering the claims o
those who have cooperated