[74] Before leaving California, a young man in my office, who had been using some of my money which he could not replace, proposed to repay me in a certificate printed in red ink, which certificate declared that I had paid $2000 toward the capital stock of ---- Mining Company; Capital Stock, $250,000; signed Col. ----, President, a gentleman a little in arrears at his boarding-house, and my defaulting young man was secretary. Rather an unpromising show that, as the property consisted of a tavern, built of canvas upon Colonel Fremont's Maraposa grant, on the principle of squatter sovereignty. Near by the squatter had dug a promising hole, and if only money and machinery could be had, _perhaps_ he might realize something from it. The young man assured me that they had an agent in New York negotiating for machinery, and in a few months they would be able to declare dividends. Biting my lips to suppress a hearty laugh, I put the paper printed with red ink into my pocket. On my arrival in New York, I was thunderstruck at seeing a gilded sign stuck up on the Merchants' Exchange: "---- MINING COMPANY OFFICE." Not over-troubled by modesty, I ventured in, and inquired if that machinery had been sent out. I was requested to be seated in a fine cushioned chair. As I love entertainment, I sat down, and took a survey of the desks, the Brussels carpet, the ledgers, and the piles of pamphlets, which clearly demonstrated that a man would get his money back many times over before he paid it in. It seemed strange how all this could he supported on the supposed future earnings of a hole in the ground. The Board of Directors assembled. Many of them, I was assured, were the leading men of New York, and things went off with all solemnity. When all was ready, an immense piece of the richest gold quartz was taken from a desk, such as used to be sold at good prices in San Francisco for this very purpose. But not a man in that august assembly dreamed of the manner in which such things are gotten up, except perhaps the said agent sent out to get machinery, but now figuring as a director. I was easily prevailed on to sign an argumentative certificate, and was shown one signed by Robert J. Walker on a much worse hole in the ground than this. I was also informed that New York was not the proper market, which I understand to mean that machinery could not be obtained in New York on the credit of a quartz vein; and in London they would not look at a scheme that did not embrace a million at least, said the agent aforesaid. Therefore he proposed to give me an engraved certificate, declaring that I had paid $8000, which of course I readily accepted when I found that there