usually requires a large amount of capital to do all this, and extensive joint-stock companies are consequently often formed.
Sometimes the former owner of the ground will take a considerable share in the speculation—for he generally contrives to secure to himself the most profitable, or, at least, the most certain, part of the arrangements, and to dispose of the surrounding land for building purposes. It may happen, also, that the Government will, if able, advance a small portion of the funds; in consideration of receiving in return a very large share of the profits of the concern. If, however, the original discoverers are not able to fulfil the authorized conditions, any person whatever, who is acquainted with the circumstances, and able to do so, may take the affair into his own hands, and conduct it for his own advantage, without noticing the claims of the former parties in any way. When an individual is thus able to satisfy the demands of the government, the rights of search and of extension are allowed him; his claim to the mine is defended; he can carry on the operations for any length of time that they may continue remunerative; and the profits, with-
