Perhaps the first real conception of the petroleum trade was in the mind of a young physician in the Venango region. Yet it was but a dream, and, like many another dream of the past, it was in advance of the age, and resulted in nothing but speculation. In looking at the numerous slight veins of oil that oozed up along the bed of Oil Creek, the thought occurred to him that, by tracing these little veins to their source, the main artery might be reached. And as this tracing must be through the rock, the proper plan would be to bore down through it, until a large vein was reached. This was certainly professional, and, now that it has been tested, seems a very plain and simple idea. But it was like the theory of Columbus in regard to a new continent, entirely too bold for the times, and was rejected. There was in this physician's theory but one link lacking in order to have anticipated the entire scheme of oil production as it was afterward generally carried on. The thought did not occur to him of leasing the lands along Oil Creek, and thus securing an interest in the entire territory: he thought only of purchasing, and as he could not command the capital for this purpose, the scheme was lost, as far as he was concerned. The idea was however a brilliant one, and entitled its originator to be classed among the long line of those who have dreamed without realizing the vision, and who have sown precious seed without being permitted to reap the harvest. In the mean time, artificial oil had begun to be produced in large quantities from different minerals, principally, however, from cannel coal, by the process of destructive distillation. This oil was refined and deodorized, and found to be a valuable illuminator. A spirit of inquiry and investigation was excited. It was ascertained that this artificial oil, the product of distillation, was almost identical in its properties with the natural oil of the valleys--that the latter might be purified and deodorized, and if found in sufficient quantities, prove a source of wealth to the country. The enterprise of bygone ages in the excavation of oil pits was considered by many, but the process seemed tedious, and, in addition, the finest portions of the oil were in danger of passing off by evaporation. The grand idea, however, was struggling toward the light. If the oil, now so greatly desired, bubbled up through concealed clefts in the rocks, why might it not be discovered in large quantities by boring in supposed localities deep into the rock that was conjectured to be its home? And if found in some localities while boring for salt water, why not expect to find it more certainly in localities where there were discovered such decided 'surface appearances'?