On Admiralty Island, near the northwest end of Douglas Island, opposite Takou Inlet, there has lately been discovered several gold deposits which are owned by a Boston company. The prospectings upon some of this well-defined vein have developed a percentage of gold to the ton so large that we hesitate to specify it. “Thirty years ago,” said Mr. Thomas S. Nowell to us, “the mines of Alaska would have proved comparatively valueless; the machinery and process that are now so successfully applied to reducing the ores were then unknown. The great economy and consequent profit is derived from late discoveries which are now perfected, producing machinery which works as though it had the power of thought.” The names of several other profitable mining enterprises in this vicinity might be given, but we have said enough to indicate the great mineral wealth of this portion of the Territory, and to justify our title of THE NEW ELDORADO. There are abundant gold indications all along the coast, as well as upon the islands. In the sands of any considerable stream between Cape Fox and Cook’s Inlet the “color” of gold can be obtained by the simple process of panning. The question is not where gold can be found in Alaska, for it seems to be wonderfully and abundantly distributed, but as to what localities will best pay to expend capital in developing. A number of abandoned claims show that the failure to realize a satisfactory profit in gold mining by eager, impatient, and unreasonable individual seekers without proper machinery is as frequent as in any other business enterprise awkwardly planned. This is as apparent in Africa, Australia, and California as it is in this region. The Treadwell mine on Douglas Island is in latitude 58° 16′ north, just about on a line with Edinburgh, Scotland. We quote once more Mr. Nowell’s own words: “The mountains of Alaska abound in gold-bearing quartz, the extent of their deposits exceeding any similar discoveries in the world. There is without doubt more gold-bearing quartz on Douglas Island alone, which can be worked at a handsome profit, than ten thousand stamps could crush in a century; a well-defined vein from two to six hundred feet wide traversing the island for at least from six to eight miles.” There is a missionary family, supported by the Quaker persuasion, located at Douglas Island, whose earnest effort in civilizing and teaching the natives has been crowned with considerable success. The self-abnegation and conscientious labor of these people are truly worthy of all commendation.