Book Description

Excerpt from The Mining Magazine, Vol. 2: London, January, 1910 The year 1910 starts cheerfully. An era of industrial expansion is assured, unless unforeseen circumstances arise to disturb the peace of the world. Industrial development calls for the metals and thereby directly stimulates mining. Civilization rolls forward on iron wheels, the interchange of news and of commodities is aided by copper, for coinage and decoration the race needs gold and silver, for domestic and architectural purposes the use of lead and zinc is required - in short, the basis of the art of modern living is metallic. Thus the growth of confidence, the widening of trade, the quickening of commerce are reflected in the speculative activities of the mineral explorer and mine operator. In continental Europe, especially Germany, trade is better, with indications of continued rebound from recent heaviness. Trade Prospects. - A sign of the times is the purchase of diamonds. It is said that Disraeli measured industrial prosperity by the consumption of sulphuric acid, and in later days Lord Rothschild has selected the demand for diamonds as the most reliable indicator of trade revival. The market for brilliants is a barometer of luxury just as the iron market is the surest index of expanding commerce. In America especially a period of pronounced activity is in sight, after recovery from financial depression, and all the untiring energies of a resourceful people are bent upon the continued development of a continent. In Canada the extension of railways gives access to new mineral regions. In Mexico and South America similar railway enterprise promises increased facilities for the exploitation of minerals in the Cordilleras. In Central America the political conditions are perturbed, as is usual in the isthmian region, but there is promise of an era of more orderly government, such as will encourage the establishment of industry. In Africa - South, West, and Centre - the stability of splendid mining enterprises continues concurrently with the discoveries of new lines of banket, additional copper lodes, tin veins, and diamond pipes. In Australia a temporary paralysis due to a strike of coal miners marked the end of 1909 but this episode is ended and the general prosperity of the federated States continues on an ascending scale, by reason of good crops, a big wool clip, and widespread mineral resources. In the British Isles the general election begins on the day this Magazine is issued; and for a brief period the responsibilities of the elector will interfere with the course of business. But this is a temporary condition, unlikely adversely to affect an occupation so absorbing as mining and the speculation incidental thereto. Whichever party wins the election and whatever the verdict of the polls, the essential common-sense of the British people will assert itself and the national imperturbability will be restored after a flutter of political excitement. No change of government will destroy industry and no change of policy is likely to cripple the persistent search for minerals in all the various regions where British capital and British energy are being successfully applied. Capital. - During 1909 London has regained prestige as the greatest market for capital and it has become apparent that the British people are so prosperous as to be saving 350,000,000 per annum, one half of which is invested in new securities. This fact is elucidated by The Statist, which publishes statistics indicating that in 1909 the total capital publicly subscribed by Great Britain was 213,767,800 as against 206,410,500 in 1908, and 130,645,600 in 1907. For mines 8,410,600 was subscribed, as against 5,602,800 in 1908 and 3,554,300 in 1907. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com"