Publisher's Synopsis
Excerpt from Mining Schools in the United States
Our own country presents to-day an example of the dependence of industry upon knowledge which is quite as remarkable as that given above. Commissioner Ross Browne, in his report on our Western mines, says that experienced investors in mining° property will not pay for a mine more than two and a half times its yearly profit. That is to say, they do not consider it a safe investment unless it returns forty per cent. Upon its cost.* The reason of this is plain. With no means of educating miners to their work, the conduct of mines in this country is a lamentable story of mismanagement, energy wrongly directed, and consequent great losses. The thousand millions of gold dollars that have been won from the ground in California are but an inadequate representation of the real wealth that existed there.1' Observers have estimated the losses which were at first caused by ignorant and hasty methods of working at two thirds of the gold really at hand, and none have put them at less than one half. A better state of affairs has gradually grown up, but the losses to this day are very much larger than they should be. In California, however.
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