Above: Gold and
Silver Bullion at a Denver Smelter
The gold and silver bearing ores of Colorado also carry considerable quantities of copper and lead, and of these two minerals the State has produced since 1859 over $90,000,000 worth.
Colorado presents, within three days' journey from the Eastern money centres, a gold producing belt over 300 miles long by 100 miles wide, comprising, according to the statistics of the U. S. Mint, more than 20 gold producing counties, every district in which is either on the line of or easily accessible from some railroad from Denver.
The mountains of Colorado contain gold and silver sufficient to pay off the National Debt of the United States and Great Britain, and posterity will be mining gold and silver in Colorado a century hence.
Colorado has 18,000 square miles of coal fields, including anthracite, bituminous, and lignite, as yet only partially developed. The annual coal output of the State rose from 69,997 tons in 1873 to 3,516,960 tons, worth $5,500,000, and over 300,000 tons of coke, worth $900,000, in 1897. Over 1,000,000 tons of Colorado coal are shipped annually to Nebraska, Kansas and other States.
| At Orient, Saguache County, the iron mines belonging to the Colorado Fuel & Iron Company are producing 700 tons of ore per day, which is all shipped to the works of the Company at Pueblo. The Company has a number of iron mines at other Colorado points
and uses large quantities of manganiferous ores from Leadville. The Company for 1898 has contracts to manufacture $2,500,000 worth of steel rails, merchant iron, etc., all from Colorado ore.
During 1897 35,000 tons of manganiferous ores were shipped from Leadville to the Illinois Steel Works, Chicago, a distance 1,100 miles, and contracts have been entered into for 1898 to ship 40,000 tons of such ores to the same works, with probability of considerable shipments to Pittsburg, Pa., in the near future.
The production of gold, silver, lead and copper in Colorado in 1897 exceeded by several million dollars the product of the same metals in 1892, which was the most prosperous year known until that time. The decrease in the production of silver and lead has been overcome and the gain added by the increase of gold.
With Colorado taking the lead of all the American States as a gold producer and all the world crying for gold and every nation short of gold, the Colorado gold mining industry will, during the next ten years, double Denver numerically and commercially.
The following table shows Colorado's increasing gold production:
The daily output of the Florence field is about 2,000 barrels of crude petroleum. Besides supplying Colorado, this field annually ships to Montana, Wyoming, Utah and New Mexico at least $500,000 worth of petroleum.
Above: The Globe
Smelting and Refining Works
| In ordinary times, Colorado building and paving stones by the train load go to Omaha, Chicago, and the cities of the Mississippi Valley.
The following points emphasize the importance of the gold mines to the prosperity of Colorado and Denver
|The greatest and richest mines in Colorado today, only a few years ago at most, were undeveloped or but partially developed properties. The rich mines of the future are today awaiting development by a combination of intelligence and capital. Mr. David H. Moffat, President of the First National Bank, Denver, and one of the most successful and largest mine operators in Colorado, says that one million dollars carefully and intelligently invested in development work in the score of new mining districts scattered throughout the state, or in equipping and operating partially developed properties in the old mining districts would, within a very few years, probably result in ten million dollars' worth of additional gold being produced from such properties. Of course, for each property developed into a paying mine, there might be several properties which a comparatively small expenditure would show to be valueless, but taking the average, the prizes would, more than pay for the blanks, if the money was invested intelligently. Mr. Moffat has been profitably investing his own money on this basis for many years, so has practised what he suggests and knows whereof he speaks. He has no hesitation whatever in saying that Colorado presents better opportunities for mining than Klondike or any other district in the world. In his own personal mining operations he has never had occasion to go outside Colorado (excepting once into New Mexico) and, in fact, never saw anything elsewhere that presented a better opportunity than is obtainable in Colorado. The great requirement of mining is that it should be entered upon with the same care and judgment, along with sufficient capital, that is required in any other business in order to be successful.|
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