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Updated: June 8, 2025
The capital of the mining companies was squandered with no other effect than that of providing employment, for a certain number of years, to the lowest of the Mexican peasantry; whereas the same amount, applied to a similar purpose in this country, would not only have produced a handsome return to the invester, but would have afforded work and wages to a considerable portion of the community.
But in the absence of home speculation it is little wonder that, for the chance of unfrequent gain, men should choose, rather than leave their capital unemployed, to run the risk of the frequent loss. It does not, however, follow, as a matter of course, that home speculation shall always prove profitable either to the invester or to the nation at large.
Speculation, therefore, in an old branch of industry, is perilous not only to the invester but to the prosperity of the branch itself. The case, however, is widely different when a new and important source of industry and income is suddenly developed in the country.
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