Probably this is the best place to insert another word of warning to directors who are not mining specialists, and also to investors in gold mining shares. Assays of auriferous lode material should always be checked by the results of trials on large quantities. The reason is obvious. First, the prospector or company promoter is not in the least likely to pick the worst piece of stone in the heap for assay; and, secondly, even should the sample be selected with the sole object of getting a fair result, no living man can judge the value of a gold lode by the result of treatment of an ounce of stone. So when it is reported that a sample of rock from the Golden Mint Mine, Golconda, assays at the rate of 2,546 oz. 13 dwt. and 21 grs. to the ton, and that there are thousands of tons of similar stone in sight, the statement should be received with due caution. The assay is doubtless correct, but the deductions therefrom are most misleading. A few words of advice also to directors of mine-purchasing companies and syndicates, of which there are now so many in existence, may probably be found of value. It is not good policy as a general rule to buy entirely undeveloped properties, unless such have been inspected by your own man, who is both competent and trustworthy, and indeed who should have an interest in the profits. Large areas, although so popular in England, do not compensate for large bodies of payable ore; the most remunerative mine is generally one of comparatively small area, but containing a large lode formation of payable, but often low grade, ore. It is worse still, of course, to buy a practically worked out mine, though this too is sometimes done. It must be remembered that mining, though often so profitable, is nevertheless a destructive industry, thus differing from agriculture, which is productive, and manufactures, which are constructive. Every ton of stone broken and treated from even the best gold mine in the world makes that mine the poorer by one ton of valuable material; thus, to buy a mining property on its past reputation for productiveness is, as a rule, questionable policy, unless you know there is sufficient good ore in sight to cover the purchase cost and leave a profit. The point may be put thus: Human industry is (1) Productive, (2) Constructive, and (3) Destructive. (1) Productive.--Intelligent culture of the soil, including the depasturage of profitable animals. This is the oldest. (2) Constructive.--The manufacture of raw products, animal, vegetable, and mineral, into articles of a necessary or æsthetic character. (3) Destructive.--Mining, in all its forms, because the natural stores of valuable minerals and metals won and used are not replaceable.