In proof of these statements, the "Merchants' Magazine" tells us, that English vessels bound up the Black Sea take smaller cargoes than those going to the Mediterranean, because, the former being much less salt than the latter, vessels are less buoyant thereon, and can carry less. This difference in buoyancy will probably be enough to offset the higher seas and rougher weather of the Atlantic.
Thus it appears that this great basin extends through so many degrees of latitude that its lakes and streams connect with the mineral regions and pine forests of the North, the wheat- and corn-lands and cattle-ranges of the Middle States, and the cotton-and sugar-plantations of the South.
The pine forests of Maine, it is well known, have been for some time failing, under the great demand upon them; and the only resource will soon be in those of Wisconsin, Minnesota, and Michigan, from which many cargoes have been already sent to the Atlantic ports. The amount of lumber made in these pineries in 1860 is estimated at twelve hundred million feet, worth between eight and nine millions of dollars. Most of this goes to the country west of the Lakes,--to Chicago, to St. Louis, and even down the river to New Orleans. Since railroads have penetrated the great prairies and made them habitable, the demand for pine lumber has greatly increased both for building and fencing; and it has been estimated, that, if every quarter-section of land in Iowa and Illinois were surrounded with a "three-board" fence, it would consume every foot of pine-timber in Michigan.
As to the copper and iron mines of Lake Superior, many dabblers in fancy stocks are but too well acquainted with them, and many burned fingers testify against those investments of capital. Still, the amount of mineral is immense, and the quality of the purest; and these mines will no doubt pay well, if worked with skill and capital.
Since 1845, one hundred and sixteen copper-mining companies have been organized in Michigan, under the general law of the State; and the amount of capital invested in them is estimated at six millions of dollars. Most of this is lost. On the other hand, the "Cliff" and "Minnesota" mines have returned over two millions of dollars in dividends. The latter is said to have paid, in 1858, a dividend of $300,000 on a paid-up capital of $66,000. Mining is a lottery, and this brilliant prize cannot conceal the fact that blanks fall to the lot of by far the more numerous part of the ticket-holders.