Remarks on the Gold Mines of Virginia. 125 



There is, therefore, no doubt that the result stated above is below 

 the truth, as regards the quantity of gold ; and still it would be bet- 

 ter to calculate upon returns rather less than more, in relation to the 

 operations in the large way. In estimating the actual results of the 

 mining operations in the gold region, those concerned will of course 

 take into view the interest of capital laid out in the purchase of the 

 gold lands. On this point, 1 am not called upon to express an opinion. 



Were it possible, however, it would be very desirable to extinguish 

 the spirit of speculation which is producing a dangerous excitement 

 in the public mind, equally hostile to the true interests of the mining 

 region, and of the country, and dangerous to individuals. Itwould 

 be very desirable that the mines should be purchased only by those 

 who intend to explore them, and not by those who buy merely that 

 they may sell again, perhaps at a very short period, and for a price 

 suddenly advanced, not in consequence of actual returns from the 

 mines, or of a reasonable prospect that they will soon be realized, 

 but because the community is in a state of unnatural excitement. 



Virginia has, in her territories, great mineral treasures ; but they 

 are to be obtained only by sober industry and skillful application of 

 knowledge and capital ; nor would all her hidden treasures of gold, 

 if brought to light, form any adequate compensation for the aban- 

 donment of her agriculture and the substitution of a spirit of wild 

 speculation. 



The comparatively deep explorations of the Culpeper mines have 

 probably developed, in a good degree, their real character, and there 

 is therefore not so much danger of error as in those cases where the 

 mining has been less thorough and less extensive. 



This mine possesses also important advantages, in consequence of 

 its great water power, and the favorable form of the ground, which 

 will enable it to obtain a profitable return, not to be realized, in an 

 equal degree, by a richer mine without similar advantages. It is 

 not believed that this mine will need the application of steam power, 

 certainly not for a long time, because the water can be drawn from 

 the excavations either by gravity, or by machinery connected with 

 the hydraulic power of the mills ; and it is expected, even, that its 

 superfluous force, that which is beyond what its own exigencies may 

 require, will in the course of some time, be applied to aid the opera- 

 tion of the mines in the vicinity, not possessing hydraulic power. 



In my investigations in the case of the Culpeper mine, and of 

 other mines in the gold region of Virginia, I have received the able 



