Comstock Capitalism: The Law, the Lode, and the Science

The term “Comstock capitalism” describes new commercial, legal, and scientific conditions emergent in the silver mining industry of the early 1860s in western Nevada. On the Comstock, the first joint-stock mining companies in the American West were incorporated, and stockholders, “the speculative interest,” underwrote exceptional investments in large labor forces, powerful machines, cutting-edge engineering, and, most importantly, incessant litigation. In high-stakes court cases over mining rights, men of science, as expert witnesses, played central roles in the takeover of silver mining by big, well-financed companies. The development of Comstock capitalism essentially rested on the consolidation of scientific theory. Where once there had been numerous silver veins, geologists found a new object of nature—an immense single deposit called the Comstock Lode.