1022 Transactions of the American Institute. 



He considered first, the nature of mining industry, and its rela- 

 tions to civilization, and pointed out the distinction between mining 

 and agricultiu'e, in that the former was characterized mainly by 

 greater permanence of product, but less permanence of production, 

 while the latter was a constant stream of perishable wealth from 

 an inexhaustible source. Soils, even forests, may be recuperated 

 and restored after the most wasteful treatment; but mineral depos- 

 its, once exhausted by legitimate labor, or ruined by wanton extra- 

 vagance or ignorance, are lost. This distinction bears directly 

 on the history of nations. The approaching exhaustion of many 

 local sources of mineral wealth, in England and on the continent, 

 was adduced in illustration. Regarding themselves as guardians 

 of the treasures of the soil, and mindful of the fact that the 

 consumption of such wealth is a constant drain npon the capital as 

 well as income, most governments have claimed over mineral 

 deposits, especially those of the precious metals, a right of control. 

 They have raised from them revenue for the state, and prevented 

 their injury and destruction by jDrivate citizens, recklessly hasty to 

 be rich. Our American democracy does not favor governmental 

 interferences of any kind, and although in obedience to the tradi- 

 tions of statesmanship our government has hitherto maintained in 

 theory its supreme right over the minerals in its territory, the 

 claim has never been enforced in practice. Nor is it necessary to 

 imitate the despotisms of Europe. Gold and silver mining were 

 then discussed, and declared to be not theoretically but practically 

 and economically (owing to peculiar circumstances) the most diffi- 

 cult branch of the art in this country. The special relations of 

 bullion to money, commerce and government, and to all forms of 

 industry, were explained, and the speaker showed by a forcible 

 argument, which won repeated interruptions of applause, that the 

 mining industry of the Far West has been the motive power of a 

 vast national progress, and that, even if every dollar of gold and 

 silver produced has been obtained at undue expense, the great 

 balance of national advantage would bo in favor of the pioneer 

 industry which has laid open half the continent, and established 

 the already vast agriculture of California and the rising commerce 

 of the Pacific. 



This interest has therefore peculiar claims upon the protection 

 of Government. Now what shall be the nature of that protection? 

 The production of bullion is decreasing. What can be done to 

 raise it again? What are the crying necessities of the mining 



