MINING OV'TLOOK /jV GOLRADO FOR 1884. 275 



At the present time the speculative part is from perfectly natural causes per- 

 fectly eliminated, which causes may be stated as the result of greater knowledge 

 among men generally as to the requirements to make mining a success; partly to 

 the re-action that always follows the " boom " or intense excitement of any busi- 

 ness. I might also include among these causes the present low prices of metallic 

 lead, (which I do not think will last much longer) also that during this past winter, 

 1883 and 1884, we had such general and very deep snows, that in most parts of 

 the State it was impossible to work. Ere that cleared away came the "rich man's 

 panic " in New York City, which sat down upon every uncompleted mining sale, 

 as the proposed buyers did not know how long the trouble would last, and of course, 

 as good business men, held the cash they had on hand, awaiting the results of the 

 future. On the heels of this the melting snows caused such freshets that the 

 railroads were washed out, and all means of transportation in some sections for 

 the time were cut off. 



Such facts, following so closely together, would certainly bring the one great 

 industry of any State to bed rock, and so it is in Colorado. 



It would never seem as if bottom had been reached in the latter part of July, 

 and almost at once we hear of work being started universally throughout the State. 

 The marketing of the ore produced, naturally sets money in circulation at once. 

 Not only that, but I know that the very men who withdrew from closing pur- 

 chases of mining property at the commencement of the panic, are now coming 

 forward and taking those same properties, and paying the cash ; in some instances 

 paying more than the price of the previous agreement. Such places as Denver, 

 Pueblo, and other cities of Colorado, will certainly begin to feel the re-action, or 

 effect of all this for the better, within the next sixty days. 



But if your readers will look about for facts, they will be astonished to find 

 that the present yield of Leadville, in gold and silver, for the past six months is 

 greater than for any six months at the same time of the year in her whole history ! 

 Again, so far this year, Gilpin, Clear Creek, and Boulder Counties show every 

 evidence of surpassing any year's product in their whole history as mining coun- 

 ties, while the whole southern part of the State is now in condition, owing to 

 developments, and means of transportation, to make a showing in statistics that 

 will only be expressed by millions. There is no doubt but the change we have 

 locked and hoped for has actually come, and we can with every confidence look 

 forward to five years of uninterrupted prosperity, to be closed with a wilder ex- 

 citement in the mining business than Colorado has yet seen; for when it comes 

 this time, it will not be confined to any one locality or mining section, but be uni- 

 versal throughout the State. 



Personally this part is regretted by the writer, as after the "boom" comes 

 the re-action, and business must of course suffer, but human nature is human 

 nature, and I do not see how I can help it. 



Respectfully yours, John K. Hallowell. 



