["Pecksniff," Pecksniff Papers — No. 1: On Washoe, Alta California, March 17, 1860]

 

Pecksniff Papers—No. 1.

__________

On Washoe.

            Eds. Alta: Some half a dozen "highly intelligent" individuals, more or less, have set out lately to enlighten the public on the subject of Washoe, and fancy they're doing it ; but in my humble opinion they have thus far written nothing that any one can make head or tail of (except what appears in the Alta, written by Dr. Degroot,) and what they have said has only made a muddle of it. They set out to tell us something, but after reading some long article, we finish with the mental ejaculation, "What the —— is the man driving at?"  In the Bulletin we are treated to a conglomeration of ideas, and a hash of sage reasoning, with some scientific arguments on the subject of silver mines, the "argentiferous" and "auriferous" ores, whether they are found to "superimpose" bodies of lead, copper, etc., all taken, by the chapter, from works on the subject. And the man goes on to talk of veins by the fathom, and bases estimates on a style of measurement much in use on ship-board, but unknown in the mining lingo of California. He professes to tell people whether they should or should not invest in Washoe, goes on to lay down rules, and assume as facts what he has heard. Who cares what be has heard? We want something more definite; we have all heard plenty. We want to know, and want to hear from somebody that has been there, and is capable of telling us a plain story, and giving us facts, not speculations.

            The writer referred to is "informed" that the real gold and silver lead, consisting of sulphides of lead, copper, and iron, does not average more than one inch in breadth. To assume such to be the fact is supremely ridiculous, when dozens of intelligent men, who have gone purposely to investigate for themselves, have admitted the vein from which some forty tons of ore have already been taken, to run from ten to fourteen inches in thickness. It would have been an utter impossibility to have obtained ten tons of ore, much less forty, from the space already dug over, taking his estimate for a basis. The actual yield from the Ophir vein has averaged 350 pounds to one foot in depth, and on running foot, or 2,100 lbs. "per fathom" ; and if any one will take the trouble to inquire at Mosheimer's Smelting Works, they will be enabled to convince themselves that the ore has averaged over $3,000 per ton, which gives, as the result, $3,150 to the fathom, or $525 per foot.

            The shaft from which the ore above referred to was taken, has now been sunk to a depth of vary nearly, if not quite, fifty feet, and the vein carried down equally rich to the bottom of this shaft ; how much further will be known eventually. Now, one running foot in the vein, fifty feet deep, gives 17,500 pounds of ore, 8 3/4 tons, which, at $36,000 (assays made of that now coming out, give over $30,000, vide L. A. Garnett, Melter and Refiner U.S. Branch Mint,) gives over $26,000 to the foot ! And if the vein is found for 200 feet only (which they know they have), out of the 1,400 in the claim, it will figure up about 1,700 tons, which, at $3,000 per ton, gives over five millions of dollars, or a dividend of, say, $35,000 to the foot, calling each foot of the 1,400 a share. Now if any man can prove otherwise, let him do it ; if he can prove the vein is not 10 inches wide, 50 feet deep, 200 feet long, and that the ore is not worth $3,000 per ton, then all who have been there are blind. When a man sets out to figure, let him do it on positive results, as far as in his power, and take as little for granted as possible.

            In the Mexican claim, adjoining the Ophir, everybody knows that the vein is four feet thick, and that Mr. Maldrado, who owns fifty feet, has refused $200,000 for it, or $1,000 per foot ! and the last news from there is, that in the Gould & Curry claim they have struck the vein, and find it several feet wide and immensely rich. The Gould & Curry claim is on the Comstock lead, south of his, about 1,500 feet, which proves conclusively that there is a continuous vein for two or three thousand feet, dipping at the point covered by the California Company's claim, and rising again beyond, involving the necessity of a long and deep tunnel to strike it where it dips.

            As to the probability of Washoe, as it is called, being a safe investment, it would seem, from the figures above, that it was; but the best plan for any one thinking of it, is first to satisfy himself that the facts correspond with the figures, and, if so, he can judge for himself.

            There are, undoubtedly, as good claims as the Ophir, Mexican, Gould & Curry ; but that remains to be seen. The opening of Spring will, probably, develop many very rich claims ; but we take those that we know to be rich for a basis to figure on. It is said that figures won't lie. That is a popular fallacy — figures will lie, or can be easily made to; and it is well that those who invest in Washoe should bear it in mind, when they go in blind, which they have no business to do, as they can easily "post" themselves, and be governed by what they learn.

            There are a few rules to be observed by those seeking Washoe investments :

            1. Be sure you have the money, and can spare it from your business without injury to it, and if you can't, don't do it ; or, if you do, give up the old business entirely and take to the new.

            2. Don't go to the Banks to get discounts to raise money to make mining investments ; for the bankers have virtually set out to say that you shall not invest, and the general conclusion is that they won't allow it, and frown it down ; so if you are not independent of them don't go into Washoe, for you can't get the money if they know what you want it for. They haven't got the fever. There are people in the East who still hold out in their prejudices against California, and won't believe, to this day, that any gold comes from there.

            3. Don't buy into outside claims, unless you know whether they are located in California, Utah, or Oregon ; or because the "honest miner" who located them shows you a piece of ore said to be from the outcroppings — assaying most fabulously — or because he tells you that you can have fifty feet as a great favor. I know two or three pieces of ore that have done duty about town, as specimens from the Pine Nut, Rogers, Gould & Curry, Ophir and Mexican claims. They are as familiar as household words. Just now, Rogers and Gould & Curry, are the favorite claims in the market. If you think of buying the former, inquire whether they want to sell you the James F. Rogers claim or the Uncle Billy Rogers. It makes a difference. The former is a silver lode, five miles east of Virginia City ; the latter is a copper claim, at the head of Hope Valley, fifty miles the other way. Make a note on't.

PECKSNIFF.