The Georgetown news., 1855-11-29
For the Georgetown News.
VoLoANov1LLE, Nov. 26th, 185

dollars were shipped during the last month
for the Atlantic States, and that in face OF
our having mint doing large business IN
San Francisco. This nearly equals the
amount shipped during the same period of
time in 1852, when there were 25 per cent.
more miners in the mountains than there is
at the present day, and yet there are indi-
viduals who, Gin spite of the immense
amount Of dust extracted monthly by less
number Of miners, cry that our resources
are weakening. Our resources weakening
They are but beginning to be developed,
and the most sanguine are astonished at the
result.
In all new countries, reaction after re-
action will take place, and excess after ex-
cess will follow, and time is the onl y censor
we have. We see that he is operating
here, tending to remove the veil from our
eyes, and expose to our view the less ex-
treme but more certain success of our now
legitimate endeavors, and prove the uncer-
tain foundation of our previous success.
When in 1851 it was asserted and credit
ed that the quartz Of this country was uni
versally rich in the precious metal, the ma
jority of individuals gave their undivided
means and attention to that branch of in
dustry. Their investments being large, and
their experience very limited, they of course
failed. Those of this country were not
alone in the speculation, but foreign CAPT
tai to the amount of millions was invested
in this species of mining; and they with
their immense expenses, but with much
more experience, were doomed to meet the
same fate as their predecessors; for foreign
capital was not the first introduced into
this country for working our auriferous
quartz ledges. Thus it happened, failure
after failure resulting from reckleSsneSS or
inexperience, and the effect was immedi-
ately visible in the market. Quartz which
previously was far away above "par," went
down to the lowest depth of "discount;"
and thus for considerable length Of time
it remained, until the indefatigable perSeve-
rance of some Grass Valley men, and the
pens of some few writers, proved that quartz
mining was not fallacy-the former by
their actual operation-the latter by the
publication of facts. In time, as matters
went on after the banks broke, and trade
was at an universal stagnation, the capital
ist, driven like rat from his usual haunts,
invested in the only branch of industry then
open to them, viz: quartz mining; and their
distrust gave way to confidence, and no fur
ther proof was required by the most incred-
ulous to satisfy them of the proftableness
of their investments; and that confidence
which they once had in quartz mining re-
turned, not with the idea that pile can be
made in few days, but with the undeniabe
conviction, that where circumspection is
employed, it is the safest and most profta-
BILE investment in the country; and we see
that there are now twice the number of
quartz mills in profitable operation that
there was one year ago, and the mountain
traveller in California is astonished to find
hidden away among the tall pines and big
hills OF the mountains, quartz mills in oper-
alton, that awake the echo on the hills by
their noisy crushers. Even now as write,
[ hear away off the "solo" of the monoton-
GUS sound from Neugus & Bakers mill.
that is soon to merge into "trio," by the
erection Of two more quartz mills. And
yet in spite Of all this, croakers dare to as
sert that our resources are diminishing
Let them look at the figures that head this
communication, bearing in mind that we
have mint in the country, and then let
them say whether our resources are weak
ening; yet these figures are not given as an
evidence of prosperity, but as a proof that
more gold is extracted from our mines at
the present day, in proportion to the num-
Der of miners, than there was in 1852; and
an observer acquainted with the country
knows, that with our southern hills un-
touched, and our quartz lodges but opened.
ages will pass before our resources are
weakened. POGO MAS.
Indian War News.