The Spanish conquerors mentioned nothing of silver among the Aztecs, but all their ornaments were of gold. The value of the presents of gold ornaments given to Cortez by Montezuma is estimated by Prescott at more than $7,000,000. The source of this great gold supply has never been discovered, for, although gold in small quantities is found in many places intermingled with silver, yet the amount mined was very small in comparison with the value of the silver. In more recent years owing to improved methods of separating the precious metals from the quartz, the proportion of gold produced has been increasing. From 1810 to 1884 mining reached a very low ebb because of the unstable form of government and constant revolutionary movements. The crude methods formerly in use became unprofitable, and foreign capitalists were afraid to invest money for fear that a change in the government might occur over night and wipe out everything. The old mines had been worked to such a depth that they were flooded and could not be kept in workable condition by the bucket brigade. The disturbed political conditions had developed large and bold bands of robbers; and as all traffic had to be carried over lonely mountain trails, mining became very insecure and consequently unprofitable. Since the extension of the railway systems and the establishment of a stable government, mining is again attracting a great deal of attention. The government encourages foreign investments in the mines. Many of the old bonanzas have been taken over by new companies with both good and bad results for the investors. The introduction of modern machinery has so reduced the cost of mining that lower grade ores can be profitably worked. Even the dumps that have been accumulating for centuries are being worked over at a fair profit. Smelters and mills for the cyanide process are springing up in all of the mining regions. Modern pumps are taking the place of the mule and windlass in keeping the mines free from water. The fame of the old bonanzas has no doubt aided in fleecing the gullible through fake companies organized by unscrupulous and even criminal promoters. American miners and prospectors are met with all over Mexico in the mining districts. It is safe to say that the majority of them have either met with disappointment or are living in hope of a “strike.” These conditions are the same in every mining district the world over.