The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-06-27

TO THE EDTroR or Tas pxRALp.
In the early rsrt Of Nay ventured few remarks upon
letter written by correspondent Of the HERALD touch
ing the wealth and producyven Of he gold mines In
ru' immediate Southern Slates-vreins, the two Carroll
nai and Georgia. In tn HERALD o. Saturday my obser
ons criticised ard my state pents fenied by ne
wriierone "VeIas" had not exl ected this; but do
not regret the appearance of "Vertas" nor am very
unwilling to discus, the subject Of the gold mines Of
those States provided tbs matter is OF sufficient interest
Tor your columns The result would probably be benea
cial however opinions might finally rest way the
other You notice the advent Of veritas" edorialy
and fAvoraby ana you express the decided opinion sha,
the writer OF the second letter to know what he
writes about much better than the author OF the former
one" Are you not possibly little hasty in thsp
You say you shave interest In the matter, one way
or the oiher Have you the interest that attaches
the editor Of influential journal as the HERALD to
avoid giving currency 10 accounts however honestly
tended Of fabulous gold fields which always tend to
cite unhealthy public appetite and promote the dsas
spirit Of speculation At least ought thsre to
be great prudence used IN all such maerss The vigilance
of the HERALD guarding the pu oIc interest this par
tcuar, shows that would not knowingly aid starting
any new fever in gold specuations, nor any ctner.
Iperceve by the tone or veritAs' " remarks that
liable TO msconstructon, unless explain ny postioa
am every friendly 70 the gold workings Of the States
ntably managed. l am aware that the gold or.s
In those States mag be called inexhastioe, aud
that the profitable working OF their precious metals would
be of immense each OF those States But speci
laons their moes dreamy snd wild notions fortunes
to easily quickly made from them th
a sensible judicous, mercantile view OF their values
only TO retard instead OF aiding the desired resut of
regular and stable mioiog II was only as gentle qus-
6caton upon the roey picture OF your first
that my comments we're designed. But In "Vertasr
fnd the vigorous embodiment OF the previous ideal ma
will iou issue win "ver,tssn II "Veri,asn ,s right
Wi ha mi N all haft.-
for the public. MY sympathes with "Veritasr but
my convictions are quite different from his.
The points taken 10 nv ticle 10 which "VerRs' 50
decidedly excep's, were substantially two Ficst, that
the gold OF the four Southern states mentioned were
lean comparison With the OF California or ores
Of gold found beyon the Gulf OF Mexico Second, that
the failure 70 make the gold OF the Saiez named
above probably productive from the imperfec,
mode Of working them; from sixty nye u seventy per
cent Of the gold existing IN their beng lost during
the process OF manipulation The frs. point dsne1 by
'Veras and also understand HIM to oeny that gold
workings those states have upon the whole resulted IN
serious loss The second and very mportao ''ve
ritss passes over, mink very wisely, for IL is
grand stumbling bock watch must be removed bssre the
mines in question can be male reliable for capital and
labor.
All discussions Of facts aud opinions shortened and
smpfed by csndor precision of nents sveri
as places NY satements In erroneous lights two par
tcuiars which was unintent0oal 1 sure. He saws
hnk that the mineral OF the State of North
Carolina are OF little value compared With those OF the
gold belt beyond the Gulf OF Mexico" TAts cutie di.
ferent from what stated saa. reply to the claim
tat tue the nAmsc states
those OF Calorni tnat they star less con-
speuous in that particular, aud tha. ne ores OF the
four Southern GOLD producing States compar aveiy
lean" repeat this. OF the moss OF tnose
Southern States q much eohaacea by au easy rolling
country, good roads, abundance 6f timber and cheap
fuel, cheap LABOR add provisions, neighborhoot to
fopndries and capital, 10 all the costly elements
Of mining. These things determine very Inucn
the vAues of mineral every where Che Other
error OF "Neras' was IN understanding say tha
the trip alluded to ha OF the ~enty mli-
lions which have gone DOT OF New YORK to these mines
Ny statement vas 10 reply " the demand for yankee
eherey and Yankee capital tnlt "Norih Carolina and
Virginia fell OF wrecks left behind by defeated
Yankee energy ana Yankee cspta and that raore than
twenty millions OF dollars haze gone out OF New York cisy
alone 70 those mines ann buried lost in tner
l reassert this also, out did not see no. say saw ali
these mean choly graves on the trip o. which SPOKE
have made these two correcLons because yerasv 10
replying to what did not say pacei In a wrong posi-.
"veritas" admits that may psrha7 u.s. be honest 10 nv
opinions. For this generous indulgence feel grateful
really believe that perhaps quite honest in nv OPT
niors. have heard those of 'Vertas often tina,
quite sure be could not be Otherwise than honest 10
them, without ADV possible "parnspsn Ba, "t ia eri.
dent" he ssys that am " not sufficiently acquainted
with the mineral resouccs aud mining operations of hs
State Of North Carolina TO form conclusion rs TO
their imulense value" This may De so, but thea am
very willing scholar. 'vertas then states tina. he has
Dad every opportunity during tue past SIX yesrs to be
come acquainted with the mineral Of gold
producing States, but more particularly OF North Ca
rolipa and Georgia, and has drawn widely different
conclusion from my own Of their richness and
value Well Z" doctors will disagree {" I com
mepced my tuition Southern god miuiug some
twenty three years ago, which appears to give me, in
pou Of 1e the start OF about segeatsen years OF
'verss" although Ii not dispute his cxim to better
knowledge of the subject for have learned
In wears than have 10 four tlr.s yesrs. | had
the honor TO be director 10 the fanois walton mne
TO put few patriotic thousands into that golden tomb
which the utter ruio Of many far mao.
The gold fever which ragged IN Virginia Ia ls36-1s
esm sted TO have swaiosed about five millions OF good
old, cenhdipg and creduous Virginia money "veritssr
describes line along which there have been found niass
ir,u M n nat tn in
the known world is Dot "Vertas' drawing the 'sboS
little strong this Ia he quite now
yielded uniformly, By certain mines sin 'he known
WoridP' DID any mine "from Warreptoo county
In North Carolina through Abbeyile dsific in South
Carolina" afford regularly fifty thousand dollars
per month? Many Of those mines" says Veritas.n
have yielded than million Of dollars with very
moderate expenditure" VIII he the MINES the
time covered by that yiea, and the amount OF ex
Introduces the favorts plea OF Jumps or gold found
&C ofeatimes" have no battery against Jumps OF god
" Vertas" Deans TO lire nuggets - shall quit the
field II ne organize corps OF capitalists to 20 IN
search OF humps OF gold VIII not interfere. l do
not recognise nugget hunting as true mining in
sits OF gold the mipt at Charlotte. In this we have
tangible and valuable statistical starting point Let US,
then, what this teaches l; claimed the mines
In question they Immensely ricn-eaua 10 thoss
of Calotnia-some Of ,be equal il not superior TO any
in the known world rlis deny US exsravagant, and
supper ted by the test OF experience The Mint Char
lotte established expressly tor the convenience OF that
gold regicnthese immensely rich mines incuded-afords
uPOn tue iabt yearly receiptS
of the Charlotte Mint, f,om the numerous regularly
worked mines End the less regular workings o. tina,
region, about $500 ooo. What the cos. OF pro
dGction this half niliionY 81 500 OF the gold
that TO help make that amount melted in bars
1t goodly sight: bl. the cost OF obtain
ing that amount was 81 600 if il was a cent
The amount Of gold Obtained much, 1t is true but the
OF obtaining to the merchant and ast is much
more. How per cent upon that $500 COO
net profR The value OF gold mining, evidenced BY
the deposits In the Charlotte MINT liz 70 be decided by
the amount but By the fact whether tie depostors made
lost by the labor OF procuring it, And again, the
mines Of the four gold producing states have been
and worked for more than thirty years-for than
twenty years by capital machinery, skill and experience
applied in the best known forms and under tho
vorable circumstances The mines Of California have
been known and worked for about eleven yeayb-
in regular miung, under adverse circumstances
say six or seven years. The mode OF working ores
the general character Of the matrxes the machinery &c
have all been about the same-any difference in these
respects being In favor of the Southern States And nos
California sends us ner uniform thirty to forty millions
per annum with few spare millions Europe and the
East well keeping enough for herselt What have