That the industry of mining has considerably improved in Salvador during the past decade is sufficiently evidenced by the subjoined figures, which trace the industry in its progress from January, 1901, to the first half of the year 1910:
Year 1901 $183,760.00. " 1902 114,585.20. " 1903 814,733.88. " 1904 652,854.33. " 1905 768,677.60. " 1906 1,296,666.00. " 1907 1,223,565.00. " 1908 1,318,224.00. " 1909 1,116,717.00. " 1910 (half-year) 560,570.00.
These figures refer to all the auriferous silver, copper ore, gold bars, gold and silver ore, lead ore, gold slimes, gold and copper slimes, gold and silver slimes, and lead, which had been mined in the country during the period mentioned.
I should say that modest fortunes await the enterprising capitalist--foreign for choice, since as a rule he is less easily discouraged by a run of temporary ill-luck--who exploits some of the _antiguas_--_i.e._, the ancient copper workings of the Salvadoreans which have been abandoned owing to lack of capital or labour. I know of many such opportunities which exist in the Department of Morazán, where already a considerable group of foreign companies and private individuals are working with occasionally remarkable success. With the modern machinery and reduction plant now available, certainly the greater part of these ancient workings might be made to pay something as a return upon the amount of capital expended upon them. To-day, also, there exists a first-class cart-road leading from these mines to the principal town, and thus transportation, which was formerly both costly and difficult, is now a matter of comparative facility.
In some of the iron ore mines one can find the old and wasteful Catalan system of reduction still in use, and yet with proper treatment, as was sufficiently proved when a trial shipment of ores was sent to England some years ago, as much as 87 per cent. of magnetic iron can be obtained from these ores. And the quantity of ore which they contain is apparently inexhaustible. I know of but two or three small smelters at present existing in Salvador, and, naturally, the industry of copper-smelting carried on in this primitive and limited manner proves anything but profitable. I am of opinion that the Government would encourage any serious attempt upon the part of foreign capitalists to exploit the unquestionably rich copper deposits of the Departments of Chalatenango and Cabañas, and such an enterprise might well be worth the attention of some British or United States mining capitalists. The latter are usually the more enterprising and plucky.