Agricola, Georgius, De re metallica, 1912/1950

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Some owners prefer to buy shares9 in mines abounding in metals,
rather than to be troubled themselves to search for the veins; these men
employ an easier and less uncertain method of increasing their property.
Although their hopes in the shares of one or another mine may be frustrated,
the buyers of shares should not abandon the rest of the mines, for all the
money expended will be recovered with interest from some other mine.
They should not buy only high priced shares in those mines producing metals,
nor should they buy too many in neighbouring mines where metal has not
yet been found, lest, should fortune not respond, they may be exhausted by
their losses and have nothing with which they may meet their expenses
or buy other shares which may replace their losses.
This calamity overĀ­
takes those who wish to grow suddenly rich from mines, and instead, they
become very much poorer than before.
So then, in the buying of shares,
as in other matters, there should be a certain limit of expenditure which
miners should set themselves, lest blinded by the desire for excessive wealth,
they throw all their money away.
Moreover, a prudent owner, before he
buys shares, ought to go to the mine and carefully examine the nature of the
vein, for it is very important that he should be on his guard lest fraudulent
sellers of shares should deceive him.
Investors in shares may perhaps
become less wealthy, but they are more certain of some gain than those who
mine for metals at their own expense, as they are more cautious in trusting
to fortune.
Neither ought miners to be altogether distrustful of fortune, as
we see some are, who as soon as the shares of any mine begin to go up in

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