The Story of the Mine

The Story of the Mine

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 edition. Excerpt: ...SPECULATOBS. In these days nine men out of ten know something ahout mining stocks and methods of dealing in them. At the time of the discovery of the Comstock there was no such thing on the Pacific coast as a stock and exchange board where shares in mines or companies could be listed and transferred. But the people of the entire Pacific coast were highly prosperous and ready for speculative investment. There were few manufactures, so that real estate and mines offered almost the only opportunities. The invention of methods by which the dollars of the servant girl and the farm labourer could be used to speculate with suited all classes alike. Assessments furnished the impetus that carried the Comstock mines safely over periods of depression. Men were trading and selling not shares, but feet and inches, on the various ledges of the Comstock group all through the eventful summer of 1859. The first trouble was that no one had any cash, excepting a few newly arrived Californians. The second trouble was that nothing was developed sufficiently to show other than a speculative value, even on the main Comstock lode. Buying such property seemed to cautious men the wildest of gambles, even at absurdly low prices. Prospectors and speculators were staking out the country for miles around. There were times when, if quartz ledges could be supposed to take a personal interest in their fortunes, the Comstock would have been seen to stand abashed, flushing with indignation at the way in which its sworn lovers were flirting with base-metal outcroppings in the sage brush and deserts. One will fail to appreciate the completeness with which the Pacific coast became in a day captive to silver unless he accepts the great rush to Washoe as merely the outward and...
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Product details

  • Paperback | 78 pages
  • 189 x 246 x 4mm | 154g
  • United States
  • English
  • black & white illustrations
  • 123678197X
  • 9781236781970