"The gold 'placer' near the mission of San Fernando has long been known, but has been little wrought for want of water. This is a spur which puts off from the Sierra Nevada (see Fremont's map,) the same in which the present mines occur. There is, therefore, every reason to believe, that in the intervening spaces, of five hundred miles (entirely unexplored) there must be many hidden and rich deposits. The 'placer' gold is now substituted as the currency of this country; in trade it passes freely at $16 per ounce; as an article of commerce its value is not yet fixed. The only purchase I made was of the specimen No. 7, which I got of Mr. Neligh at $12 the ounce. That is about the present cash value in the country, although it has been sold for less. The great demand for goods and provisions, made by this sudden development of wealth, has increased the amount of commerce at San Francisco very much, and it will continue to increase."
_The Californian_, published at San Francisco on the 14th of August, furnishes the following interesting account of the Gold Region:
"It was our intention to present our readers with a description of the extensive gold, silver, and iron mines, recently discovered in the Sierra Nevada, together with some other important items, for the good of the people, but we are compelled to defer it for a future number. Our prices current, many valuable communications, our marine journal, and other important matters, have also been crowded out. But to enable our distant readers to draw some idea of the extent of the gold mine, we will confine our remarks to a few facts. The country from the Ajuba to the San Joaquin rivers, a distance of about one hundred and twenty miles, and from the base toward the summit of the mountains, as far as Snow Hill, about seventy miles, has been explored, and gold found on every part. There are now probably 3000 people, including Indians, engaged collecting gold. The amount collected by each man who works, ranges from $10 to $350 per day. The publisher of this paper, while on a tour alone to the mining district, collected, with the aid of a shovel, pick and tin pan, about twenty inches in diameter, from $44 to $128 a day--averaging $100. The gross amount collected will probably exceed $600,000, of which amount our merchants have received about $250,000 worth for goods sold; all within the short space of eight weeks. The largest piece of gold known to be found weighed four pounds.