, 1873-07-21
Ell. DORADO AT LAST.
a Wonderful Cold Mine In tho ArEoit-
ft1ac Fecrrblic--Two LcnEucn OF hRnd
Bought for 5000, 100000.

tflac Tfcrnblic--Two LcaEncn OF hnnd
Bought for 1900 0,0O0,000.
Dus"os Avres tllay 221 Correspondence aF tho Rt'
am enabled by thia mail to sond you tho
particulars, 30 far as they haye yet boon mado
public Of tho discovery Of what. 1t the accounta
be true, ia tho riohoBt gold mine In tho world,
and ot tue precious metz Il. a.
fornia combined Tho scene Of this gioet dis
oovery Ia in tho Valley OF Famatina, In tho Prov
tnco Of Rioja, Argentine Republic, and the It'd:
ings Of tho almost fabulous richoa unoarthcd
havo produced the greatcBt excitement 1ero.
Wonderful as arc the accounts givon OF tho valuo
Of tho mines, 1t Ia tho general opinion that tho
half is not known oven W the discovoror. and
that there is more go1d there than tho finder s
sa1e ct portion Of tho tract. Tho uingle fact
that provisional transfer title has already
hoen drawn up for tho Bnlo Of two Leagues Of
this immonBe auriforous deposit, by which tho
paid, IL tho best evidence Of tho confidence that
is placed In tho result Of this discovery. Tho
great " find" has naturally attracted tho
attention, Of capitalists and and hpec111lators,
AyroB Ia engaged IN wondering epoonlatlons and
comments ns to tho probable advantage to L.
Ilata which may follow IN event which promises
to bring among thom q grcat tide OF omtgranta
tho immenne unds7olopea IMMORAL riohoB Of tho
liBhod, It is clained), moneycd men havo boon
quick to turn tho discovery Of the mines to i'm
mediate account. Parties interested hayo loft
hero for England, whither the oyoa OF all turn
When great financial apeoulations like this aro
concerned. to form co-partuorahips with capital
ists to work tho mines or olso to loat tho affair
as joint-Btook. company.
The discovery Of thego mines haa been duo to
perseverance,, supplemented by science and o
belief In tho IMMORAL richoa OF the Ropublo.
Somo timo sinco a dormant man verscd in
mineralogy, came hithor from Europe impressed
with tho conviction that aoarch properly car
tho northern provinces Of tho Argentine lsepub-
liz. On arriving horo ho at once repaired to
those provinces, and commenced to mako per-
aonal survey Of tho localities which he thought
most likely to reward his effortH Ho wont
from place to place pursuing his investiga-
tionH. Among tho romotest localities visited by
him was tho Province Of Rioja, amountainous diB-
triot situated among and to the eastward Of the
latitude n dcgrees, and tho aroa Of which OK
tends wost to tho Andea from longitude 90 do
greos 20 minutes. To tho north Of Rioja is tho
Province OF Catamarca, to tho south Ban Juan
and San !uis, to the east CordoVa, and the west-
ern boundary, separating It from Chill, is tho
Andes. In 1iiojn is situated the Valley Of Fanaa-
tim, fertile only in Bpots whore tho soil is sub
jcctcd to irrigation by streams, and OF = length
Of about 100 miles by 80 milea in width. Tho
boundaries Of this wiley are On the west tho
Famatina range, and on the east tic Volaeco
range Of mo,lntains. It waH to this valley that
lod BY his wish to examine into the silver mines
TINT it already contains, and hoping to mako new
wonded his way Reaching ohilocito, tue princi-
pal town OF tho valoy, he, entered upon
had established to Ills satisfaction tho fact Of tho
existence OF gold in the valley. Continued re-
search revealed tho fact that upon q tract be-
longing to the Government tho precious metal
TnB indeed there in abundance, and he ut onco,
without making public tho purpose In view,
commenced negotiations for the purchase Of tho
he had at frat explored, comprising one league Of
land, WAS Bold to him for q very insignificant
SUN. The first purchase WIS followed by another
and and larger one, md, in order to include In
'poait land ho bought in tho three leagues ad-
Joining. This having boon done. tho dscoverer
sent to this city full powor of attorney, which
has only recently reached hero.
When tho nowe Of tho wonderful discovery
was known in this city, tho excitoment was
naturally very great Porhaps the faots were
exaggerated, but the accounts wero in substance
that when tue nlinoB should be worked, tens Of
thousands Of dollars daily toould 1e The product
Of The labor. Many refused to bolieve, as being
incredible, the tidinge Of tho immenao value q
the mines Not 80, however, was it with all
who heard Of 1t, for 1t iB now announced in tho
Daily Ne'os Of this city that the provisional
tranater title heretofore referrel to, has boon
notary Of tho city, in favor Of two gontlomen,
hIeHsrs. T.. Madero and E. Castro, for the sale Of
two leagues Of tho gold traot. Tho sutn paid,
$100 000, 900 in currency, seems truly enormous,
aud tho promises made by tho seller Of tho land
arc equally so. The terms Of tho sale are
that ono-fourth Of the purchase money shall bo
cash, tho reBt to be paid on ahort time in Install
ments, the condition being guarantee on the part
Of The seller that on a moderate outlay the mines
soiIl yied to the o,cners the priucely sun, Of $4,000
pasdcones (aoout 933 900 in United States cuf,en-
cy), per day. The announcement Of this OK
tonuive transaction has resulted in establishing
in the public mind confidence in the accounts
originally given, and although e1forts have boen
made to buy portions of tho remaining two
leagues the fortunate owner refuses to soil,
and has decided not to otfor the land in this
market at proaent. Everybody IL now oagerly
awaiting the report OF the engineers who hnvo
boon sent to Famatina-lsioja to survey tho land
and make their report,