Blackwood's Edinburgh Magazine, Volume 69, No. 423, January 1851Various
History
Blackwood's Edinburgh Magazine, Volume 69, No. 423, January 1851
Various
England -- Periodicals; Scotland -- Periodicals
But what is the alluvial gold region to the mountain region from
which the precious metals with which it abounds have been torn down
by the storms and wintry torrents of thousands of years! If you find
a _detritus_ of a certain description in the mixed sand and gravel of
a plain, you may predicate with perfect certainty the existence of
mountains and rocks of the same formation in the higher regions from
which it has been brought down. Granite or mica-slate _debris_ in the
beds of rivers or the level fields which they occasionally overflow,
imply granite or mica-slate in the hilly region from which they take
their rise. Whence has all the gold come which in the alluvial plains
of California is producing such treasures, and changing prices over
the whole world? It has come down from the mountains. And what must be
the metallic riches with which they are charged, when the washed-down
gravel at their feet is so prolific of mineral wealth! The bullionists,
influenced by dread of a general rise of prices, and depreciation of
the exchangeable value of their realised fortunes from this rise, say
there is a "Currency Restriction Act of Nature;" that gold at any depth
is unworkable at a profit; that Providence is niggardly of its bounty;
and they in secret indulge the hope that it will continue permanently
that contraction of the currency which they have contrived to force
upon mankind, and which, while it lasted, has proved so eminently
profitable to themselves. But a little consideration must show that
their hopes in this respect are entirely fallacious. Granting that the
veins of gold, when they go deep, are embedded in very hard rock, what
is to be said to the cropping out of the veins over the vast extent of
the auriferous Rocky Mountains? If the wasting away of wintry storms on
the tops and sides of these mountains brings down such quantities of
gold with the streams which furrow their sides, must not the laborious
hand of industry prove equally efficacious in removing it? If the
expansive force of a rapid thaw, following severe frost, can rend the
rocks in which the gold is embedded, is not the power of gunpowder
or steam equally great? Already a company, composed of English
capitalists, has been formed to explore the mountain treasures; and
without supposing that they are to find an El Dorado in every hill, and
admitting that there may be several failures before the right one is
hit on, it is morally certain that in the end the mountain reserves of
treasure must be discovered.
Public-domain text, read in full here on John Shaqi.
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