Nevada has the highest unemployment rate in the country and is one of the worst in foreclosures. “In my district,” Nevada Assemblyman Hansen reports, “one in seventeen houses is in foreclosure. One in eight is vacant. The people are economically desperate. Meanwhile we have an industry that would love to open up mines and create jobs with an average salary of $80,000. Unfortunately we also have a government that takes ten years to permit a mine.”
No wonder 77% of Americans believe the country is heading in the wrong direction.
“Couldn’t we streamline the process or eliminate some steps?” asks Nevada State Senator Settelmeyer. He points out that the high gold and silver prices present a huge opportunity but he’s afraid that if we do not strike while the iron is hot, gold prices may fall before the mining projects get approved and get into production. “We have the resources and people need the jobs.”
In 1900 silver and gold were found in Tonopah, Nevada. Within weeks of the discovery, there was digging and within a year the mine was fully operational. In 1900 dollars, the mine brought in $125 million. Today, it would be multi-billions of dollars.
The Comstock Lode was discovered in 1859 and during its six year run an estimated $50 million of ore was removed. The discovery was largely responsible for Nevada becoming a state and it is credited with helping the Union’s finances as it backed the paper money—assisting the Union’s ultimate victory in the civil war. If Comstock was burdened with today’s regulatory environment, the war would have been over long before an ounce of silver was legally extracted and the outcome could have been different.