Pitching is precious.

Ask anybody in the major leagues. Better yet, look at some of the free agent signings in recent weeks.

• Jamie Walker, a set-up bullpen guy, gets $12 million for three years to join the Baltimore Orioles.

• Gil Meche, who has never done anything of note in his big league career, gets $55 million over five years from the Kansas City Royals.

• Adam Eaton, who has never won more than 11 games in a season, gets $24.5 million for three years, courtesy of the Philadelphia Phillies.

• Jason Marquis, who owned a 6.02 earned run average and led the majors with 35 home runs allowed with St. Louis, was rewarded with a three-year contract worth $21 million by the Chicago Cubs.

Why such a silly spending spree?

Because everybody wants pitching, almost nobody has it, and teams are willing to risk millions of dollars to get it.

And, guess what.

The Pirates have it. Not millions of dollars — pitching.

Yes, those lowly Pirates, our hometown team that has suffered through 14 consecutive losing seasons, have pitching.

That's why a guy like Mike Gonzalez, perfect in 24 save opportunities last year, a hard-throwing left-hander who is only 28 years old, is expendable and coveted by the Red Sox and Yankees, no less.

If the Pirates could have gotten slugging first baseman Adam LaRoche from Atlanta for Gonzalez, they should have made the deal. The feeling here is the sore elbow that ended Gonzalez' season Aug. 24 scared the Braves off.

The Bucs do need a left-handed power hitter in that lineup to take advantage of PNCPark. If it takes a pitcher or two to get such a player, do it.

Beyond that, hold on to those hurlers — because you're holding on to a gold mine.

Walker gets $12 million and he doesn't even log 50 innings a season.

Salomon Torres made 94 appearances last year with a solid 3.28 ERA and only 38 walks. John Grabow has been among baseball's best at leaving inherited runners stranded the past two seasons.

Matt Capps was 9-1 and walked only 12 in 80 innings last season. Can you imagine what those numbers would be worth in free agency?

The Cubs signed Marquis because they need arms. The Pirates have 12 pitchers on their 40-man roster age 26 or younger, including left-handed starters Zach Duke, Tom Gorzelanny and Paul Maholm, and right-hander Ian Snell, who at age 25 led the team with 14 wins in 2006.

San Diego just gave 41-year-old Greg Maddux $10 million for next season. The Yankees brought back Andy Pettitte, now 34, for $16 million next year.

Former Pirate Jason Schmidt turns 34 next month and signed with the Dodgers for three years and $47 million.

Pittsburgh's best chance to win in the near future is to stand pat with those young pitchers.

Sure, the Pirates are deficient in other areas. But solid pitching can make a team awfully good awfully fast.