That a business of such all-pervading character should have left a region like our present Yellowstone Park unexplored would seem extremely doubtful. That region lay, a sort of neutral ground, between the territories of the rival fur companies. Its streams abounded with beaver; and, although hemmed in by vast mountains, and snow-bound most of the year, it could not have escaped discovery. In fact, every part of it was repeatedly visited by trappers. Rendezvous were held on every side of it, and once, it is believed, in Hayden Valley, just north of Yellowstone Lake. Had the fur business been more enduring, the geyser regions would have become known at least a generation sooner. But a business carried on with such relentless vigor naturally soon taxed the resources of nature beyond its capacity for reproduction. In regions under the control of a single organization, as in the vast domains of the Hudson's Bay Company, great care was taken to preserve the fur-bearing animals from extinction; but in United States territory, the exigencies of competition made any such provision impossible. The poor beaver, as at a later day the buffalo, quickly succumbed to his ubiquitous enemies. There was no spot remote enough for him to build his dam in peace, and the once innumerable multitude speedily dwindled away. The few years immediately preceding and following 1830 were the halcyon days of the fur trade in the United States. Thenceforward it rapidly declined, and by 1850 had shrunk to a mere shadow of its former greatness. With its disappearance the early knowledge of the Upper Yellowstone also disappeared. Subsequent events--the Mormon emigration, the war with Mexico, and the discovery of gold--drew attention, both private and official, in other directions; and the great wonderland became again almost as much unknown as in the days of Lewis and Clark. CHAPTER V. EARLY KNOWLEDGE OF THE YELLOWSTONE. On the west bank of the Yellowstone River, a quarter of a mile above the Upper Falls, in a ravine now crossed by a lofty wooden bridge, stands a pine tree, on which is the oldest record, except that of Colter, of the presence of white men within the present limits of the Park. It is an inscription, giving the initials of a name and the date when inscribed. It was discovered in 1880 by Col. P. W. Norris, then Superintendent of the Park. It is now practically illegible from overgrowth, although some of the characters can still be made out. Col. Norris, who saw it fifteen years ago, claims to have successfully deciphered it. He verified the date by counting the annual rings on another tree near by, which bore hatchet marks, presumably of the same date. The time that had elapsed since these cuts were made corresponded well with the inscribed date. The inscription was: J O R Aug 19 1819