Mining Investments by the Public

Mining is one of the important primary industries of Canada, with a gross production in 1927 estimated at $241,773,000- the highest in the history of the country-and an impressive dividend record. It is quite apparent, therefore, that mining is a business worthy of the careful attention of the people of Canada. Furthermore, with a vast undeveloped territory more or less mineralized, it is highly probable that our mining industry will continue to expand indefinitely, with a consequent increase in production and in the amounts of the yearly profits distributed. In recent years, the public has taken a larger interest than formerly in mining-an interest, moreover, that is not academic, but primarily from the viewpoint of profits. It is quite evident that mining is a profitable business, at least to some, and the average man on the street, hearing of these profits, is attracted thereto. I have no doubt that many of you have .read in promotion prospectuses, with figures to prove it, that mining is the most conservative, the safest, and the highest-yielding business in the world. Now, a lot of this information is best judged by the old saying that "While figures don't lie, liars figure". At the same time, mining, properly conducted, is a profitable business, even though speculative, and undoubtedly much profit will come from Canadian mines in the future. In this paper my conclusions regarding mining investments are based largely on British Columbia experience, together with some slight knowledge of mining conditions in the other Provinces. It is considered, however, that the inferences drawn are applicable to mining throughout Canada.