The New York herald., 1850-12-27

Thousand dollars, cash. Billiards Bar, with
extensive dam and race, complete failure-not
worked at all, -
Indian Valley.-Here there has been twenty
nine dams and races put In, occupying about twenty
miles of the river; and when was leaving, twenty.
eight were total failures, and the twenty ninth had
too much wafer on il to be PrOspected, and in al
Bar The banks of this bar paid well last fall, bat
the bed OF the river, this year, has proved a COM
plete failure; Now comes the great, the grand
place of the Yuba, called the "Forks." Here all
the different branches and streams empty them
selves into the mein Yuba, and for two miles at
either side, il may be truly said TO be rich. At
this side, or below the Forks, there are four DAMS
with companies OF from twenty to forty men on
each these four dams occupy all the river that 10
worth anything. They are taking out from three
to five hundred dollars day to the hand. Shares,
when in the Market are worth ten thousand dol
lars. Above the Forks, for two or three miles,
il is alec very rich, but not so rich as below. This
is also taken up by companies.
Now, person wishing to write letter in praise
Of the mines, if he would only take the Forks for
his subject could give most fattering description,
by sticking to the dams, and giving the actual
amount taken out each day, by each company:
But let us look at the other side of the picture.
am certain am outside the mark far, when put
down the number Of men making money at the
Forks, at eight hundred. Now, when was there,
about two months ago, the population at the Forks,
there are eight hundred making money, and FIVE
thousand two hundred barely making their board.
Men can be hired in any number you like, for
three dollars day and their board, and very few
above the Forks, it becomes poorer, unu you come
to where there is scarcely color of gold. Now,
you may depend on this being true statement of
the Ypba rIver. have travelled every inch of
il, and stopped at each bar and made myself ac-
quanted with the yield of each place. There is
no doubt but vast amount Of gold will leave
this country. this year; but it has to 60, as
the merchants here are all heavily in debt,
to the merchants at your side. Money here now
can command any interest you wish to ask for 1t.
/ have seen twenty per cent month paid for
money, with real estate given as security This
cannot last long, as it would break down the
strongest concern in California. We have failures
every day, and this winter expect all the large
houses 10 60 by the board
The cause is obvious. The merchants have
cold every article to the storekeepers at the diff
ferent mines, on credit, and in order to do large
business, have used little or no discrimination in
their credits. The store keepers ase. had to give
the miners credit, as those engaged in building
dams and cutting races, could earn nothing to pay
cash for what they wanted. When the dams
failed, as they have in nine cases out of ten, the
miners could not pay the storekeepers, neither could
the storekeepers pay the merchants.
As soon as / get little stronger, intend going
to San Francisco, to see if | can get anything to
do. You are very much mistaken ifyou think
person can write with any degree OF safety as to
having his letter forwarded from the mines, for
although there are some good and safe expresses
from the different towns to San Franc SEQ, and
from thence TO the States, il is different thing in
the mines. There is no regular express comes or
goes from the mines, at least not from the distant
mines. If person is leaving, he posts up notices
that he is going to San Francisco on such day,
and will deposit letters safely in the post office for
dollar and half or two dollars, letter; he gets
perhaps from one to two hundred, and gets paid
for them; he then leaves, and, instead of going
TO San Francisco, goes TO some other mae, and
throws his package of letters into the first ravne he
meets. This has been proved in a great many
instances, and the letters found.