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About The west shore. (Portland, Or.) 1875-1891 | View Entire Issue (June 1, 1887)
EDITORIAL COMMENT. 489 the Northern extension of the California k Ore- overshadowed by the multitude of blank. This gon, which has crossed the state line and en- Idea la radically wrong. There is no industry tered Oregon. On all of these lines, a small ar- more legitimate than mining, and none in w hlch my of laborers, nearly all of whom are white success may be counted Uon with more err men, is employed, while on the Manitoba main tainty, provided that the same buninc Mid line is the largest construction force ever cm- ty, industry and careful attention to details be ployed on a railroad. Many other railroad pro employed, as are required for the succewful con jects are in various stages of advancement, duct of any other business. The numU-r i4 many of which will probably begin actual con- mines being worked for the metal they produce, struction this season. Vndcr the imjictua of and which are yielding a fair revenue to their these new transportation lines, the country must owners, is legion. We hear littlo about them, develop rapidly, increasing in wealth and op- fur their shxk is not fur sale and there is no ulation. Each one opens up new fields for cap- more reason why they should receive notoriety, ital and enterprise. This region has never I- than should every machine shop or flouring fore offered such opjwrtunitcs for investment as mill. On the other hand, a few sews of mines are now open to those who have the capital, en- are listed on the stock Urd for simulative ergy and foresight to improve them. purjoe, and their worthless stock is listen about from pillar to wt, to enable the nianlpu- Never in the history of this country, has lators to work ujon the cupidity and Ignorance there been so much money invested in legiti- of the people. hharrs, also, have taken ad mate mining industries as at the present time, vantage of thoo same failings of bununity, to Mining stock excitements have, in times past, float " wild-cat " mining m hemes, by tho sale bled the gullible public of millions of dollars, of stock In wmies organic fur tlutjHirjMi but no one of ordinary intelligence will main- only. This, also, is not in any enw to I tain that tho purchase of mining stocks, on a charged to the account of legitimate mining, stock board, is an investment in mines. One any more than the sharp practices indulged in might as well contend that speculation in wheat by confidence men in other directions ; yet, lie futures is money invested in agriculture. Hock cause of this, much capital which might have boards are but a leach ujwn tho mining Indus- been invested in mines, has vimi alarmed, try, and spallation in itorki Is the worst ene- and sought other fields. It Is gratifying to ol my legitimate mining has to contend with, serve that there Is a general awakening to the Mines have been operated, not for the metal true situation ; that, whereas mining tk are they produced, but for their effect ujxm the at a low ebb, actual Investment In mines are stock market. Millions of dollars have been greater than ever before; that the " wild cat " bandied about on the stock exchange, or taken schemes of unscrupulous men are more difficult from the pockets of a multitude of jople, to than formerly of consummation; and that Jir swell the wealth of "bonanra kings," while chaser are looking carefully Into the actual hundreds of valuable ledges have remained on condition of the property offered them, U hm doveloH for want of capital, which they might Investing their money. Every true friend of otherwise have secured. Not only this, but mining, and every miner who has a good proj mining, as an industry, has had to bear the erty for sale, w ill rr jolce at this cond.tion of af onus of popular distrust, and even condemna- fairs, for it means the rapid development of our tion, which projcrly belongs to stock dealing mineral resources throughout the tntlro West, alone. Because thousands have been ruined attending which mut, of nrt-rasily, come a by dealing in stocks, the undiscriminating jmb- development of all other rwourrri and tr.dus lic forms the opinion that mining is an organ- tries. It means farms, factories, mills, rail bed system of robbery, or, at least, but a lot- roads, and alt other acctwici of putoua and tcry, in which the priies, however rich, are Industrious cwnmujiitics.