The Arkansas banner., 1848-10-24
coTePoRdtaes oftss P6ii45c, ,phia Led3er.
 The Sold Mine Fever.
NEw YoRK. Srnfsnl

NEw YoRE, sSsrisatcr q, 1slS. be news from California has cauSeI a tgeme n- eoas excitement in this city. Official letters have reacied here that the late accounts abaat the gold mines discovered in the neighborheod cf san Fran cisco is not only correct but ia a probability iails below ihe mark. The crews of the whaling ships ia the baFbor have aii turned tp gold washing; but whetzer she gea will hold for thirty CT ferty years u anticipated. no one can tell The probability is tas wSshings will fail tsgo three years us the did in Virginia, Geo-gja and other places whsr, gold his been discovered ia the United States and thai fl veins are discovered, they must be work I'd by fire
 1 The White Hal gold mines in Virginia have b'en GihcoFefed soie hiteen years ago, and worked after i-shon, .ieiaInS, by the simple process of wash iHg, tin which, 10 carry forty per cen, gain sixty I'eT eein los must be silowei,) d rary farcs sgn, oi nloaey Bgt this vas sooner don. lhan ia- siSoI oi working tie mines, tie siuck was worked HP to one or two uiiiloas ol doiiarz great depre- eia'ion naturally followed such an advance, and tAe , eouseqaeuce was that ihe mines were 1T lately aegeeted. Aa,or Heiss, Iats of line Union, and Com Stockton, have since taken held of them and conimenced in the right way. by working the lia,s and keeping the stoek oai O. ths market They have brought tie ores fsom the nAcs b Phiiadei- Phia and CIV York, Ia enier to have them fairly sssyed and tried, and the result thus far has been an immense yield of about S50p Ia a Ia oi the ore Instead ai wlshlBg. tue smelling process by ire Is Tesesie to- il3e only hieu Is likely to pro- daoc lasting satisfactory results.
 No sooner, however, has this enterprise oi the ' MaJoE aud Com. Stockton become known than q set of sPecuators have commenced buying 0p all the land in the BeishborhOod not for the purpose oi Hlakfg minesaogical sarycy but to issue stock on the credit of the hiues discovered in line sam. locality, which are aireaoy freely bHyisg and seil jag n Wall street. Some one, of course NiH be bit, while inc Knowing wili realise pretty penny. As wei might The va,ae of and improve without cultivation CT actual settlement as 3 mine without being actually worked. There san scarcely be d doubt that the mineral wealth of tAis continent far exceeds that of the crid World. The fact is, the experience Of the past three ctniars has proved t, and New Mexico and California will b. found richly worth inc Patry sum oi fifteen or twenty millions We paid for it.
 The mineral wealth seems to be produced by great eonyulsons of the earth, by which the bowels ot the earth brought Bear the surface. The great Ufai chain of meeutaas, which diS les Eu ope from Asia, is the only one which yieids gold ana silver and platinum in quantities a, ell 10 6r pared 10 those yiel4e3 by the Andes but ilt pert ol the globe co We such striking demonstrations of the t.enls napns volcanic action ia A-xieo and California- Hence probably the mineral wealth Of the country. There always a tradition among the AIiecs that inc largest treasure ofgod see where northwest of Msxico near the sea but either the Spaniards ciscoyero it, their jealousy induced them 10 keep the secret Al al eyent$, if tie late official accounts hold euf the Unted States may. with years crop cf gold. pay onT wsiole ia- debtedness to Mexico.
 More valuable Pe:!lsps than gold are ihe quick SiiSer mines, of California, which, in the end mast nder all Ms1ico irtbut2ry 10 the wealth Oi Caiior Ria. The ore is in the shape Of the red sulphet, and what has been brought here for exaFAination yields between fifty and sixty per cent The quick sllver mines Of Aimoaen a monopoly, now in the hzHds of The Messss RothSehd, who, of course, regulate the price of the article ia Mexico, and by il the cost oi the silver production of that eoanty This will be different wAen California shali be male 10 yield her treasure.
 To-day and yes,erdaya Perfec; smigra,ioR fever has sprung up, and the aea line muii steamers for California and Oregon will sooner begin 10 rnn than even Texas will be forgotten ia tns brishter prospects in California. lftiie whole population oi California tnrns out to wash 7 ld, they must 0i coarse get their pfoyi Ions from New ' oTk oE Phil adephil, 50 hat in the end th. farmers and mel chants and the mechanics of the old States wil bc made 10 share the prosperity af the new.