Chance.] 47o [July 15, 



tained practical success even for a short period ; tliey have, in fact, almost 

 without exception, failed to pay dividends, and their stock is now a drug 

 in the market. 



But a period of excitement has again been inaugurated, capitalists are 

 again investing in mines long since abandoned as unremunerative, and 

 old Californian miners are leaving the West for the more glittering pros- 

 pects of the East, where they say the gravel is much richer. 



"While making an examination of mineral lands in Central and Western 

 North Carolina, I recently noted a series of facts that may explain in 

 general why these fields have not been remuneratively productive in late 

 years, although the gravel does contain a larger average amount of gold 

 per cubic yard than many Western placers now profitably worked. 



When one inquires why the workings are not financially successful, he 

 is immediately met with the statement that the mines paid handsomely 

 prior to the California excitement in '49, when the Western gold fever 

 caused a suspension of operations ; that the civil war caused a second 

 stoppage ; and that there are many reasons why they have not been 

 systematically worked since the war. 



These statements are honestly made, and are to some extent true ; but 

 from 1855 to 1860, several companies were working, and with very dis- 

 couraging results, and since the war several mining operations have been 

 commenced, but discontinued — because they were not remunerative. It 

 cannot be claimed that these operations were unsuccessful because thej^ 

 were not prosecuted for a sufficiently long period, for in placer workings, 

 the results, if any, are quickly attained. 



The early workings, prior to the California, discoveries, were undoubt- 

 edly remunerative. They were confined principally to the gravel de- 

 posits found along the smaller streams, and their tributaries, notably on 

 the First and Second Broad rivers, and on Silver and Muddy creeks in 

 Rutherford, Burke and McDowell counties. The gravel was worked by 

 panning, by the rocker and "long -torn," and it is also claimed at one 

 place at least, by sluicing with a head of water.* 



A brief review of the geological peculiarities of the region will explain 

 the great difference between these old workings, and the gravels now 

 being washed. 



In the Geology of North Carolina by Prof. W. C. Kerr, page 156, the 

 gold gravels are referred to the Champlain period, and are described as 

 beds of till or decomposed rock (initial drift), sometimes in place, some- 

 times several hundred feet lower on the hillside than the rocks from which 

 they were derived by disintegration. 



The truth of this statement is apparent to every careful observer, and this 

 view is now generally accepted among those practically engaged in work- 

 ing these deposits. 



The gold seems to be irregularly distributed through the so-called 

 "slates " (mica schist, micaceous gneiss, hornblende, schist, etc.), either in 



*Tlie first use of this method is generally credited to California. 



