as no longer profitable, and now the chief labor and capital were applied to the quartz mines—the parents of the "diggings." These seemed to occur, more or less, all through the Rocky Mountains, wherever quartz cropped out; but the richest of them thus far had been found in the narrow defile about Central City. The sides of the ranges there had been "prospected" all over, until they seemed honey-combed or like pepper-boxes, so ragged and torn were they with the process. Here and there they were divided up into infinitesimal lots, rudely enclosed, embracing a few hundred feet or so, denoting mining "claims." Many of these had shafts sunk some distance, with a board up, proclaiming name of mine and the ownership thereof, but others were without these. The favorite mine in Colorado just then seemed to be the Gregory Consolidated, near Central City. We went down into this some three hundred feet, exploring its various galleries, and it seemed to be all that was represented. The gold here was so much diffused through the quartz as to be imperceptible to the eye, and was further mingled badly with silver, copper, and sulphur. The company had erected no mill as yet, but were contenting themselves with developing the lode, and getting out "pay-ore." Their plan was to sink the main shaft straight down on the lode, and every twenty feet or so follow up the indications by lateral galleries, to see whether the vein held out or not. So far it was doing well, and the ore continued of an excellent quality. But it was so difficult to reduce, there was no mill in Colorado that could save a fair proportion of the gold; so that what ore they cared to work was shipped east, or to Swansea, Wales, even, for reduction. The superintendent of the mine was a sturdy young Englishman, once a humble miner with his pick and candle, but afterwards sub-superintendent of a great silver mine in Mexico, and now for two or three years here—a man of rare energy and intelligence. No wonder the stock of the Gregory Consolidated was steadily rising, with such a policy and such a superintendent. Too many of the companies organized in the east were pursuing just the contrary course. They were putting up mills at once at great expense, with steam engines and stamps complete, and then when they came to sink down upon their veins, lo! they had no "pay-ore" there, or at least none worth working. A signal instance of this had occurred a year or two before. A New York Wall street Company had been organized, on a broad basis, and with great expectations. With a West Point ex-army officer superintendent and plenty of capital, their stock soon went soaring up like a rocket; but presently it came down again like a stick—a la their superintendent during the war. He erected a splendid mill of dressed stone at a cost of thousands of dollars, and went in wildly for all the latest and most improved machinery; but when afterwards he came to test their lode thoroughly, alas! he discovered they had only a poor sickly trace of ore, that soon "petered out," and so that fine company of gold and silver miners incontinently collapsed—or, as Mr. Mantilini would have said, "went to the demnition bow-wows!" Machinery that cost the company thirty-three thousand dollars in New York, was afterwards sold by the Colorado sheriff for thirteen hundred dollars, to pay freight bills; and other property in proportion. Other instances were reported to us, but none quite so bad as this. But from the large number of mills and mines standing idle—fully fifty per cent., it seemed—we could well believe that mining machinery could be bought cheaper in Colorado than New York, and that steam-engines and boilers were a drug. A foundry-man beyond Golden City, we were told, found it more profitable to buy up old machinery and recast it, than to work a rich iron mine, though the former was scattered through the mountains and the latter was just at his door.
The trouble with the Colorado ores was, they were refractory sulphurets, which we had not yet learned how to reduce at a profit. They assayed very readily two hundred and even three hundred dollars per ton, or more; but when you came to mill them out in large quantities, you were lucky if you got twenty-five or thirty dollars per ton. The problem Colorado then wanted solved was how to desulphurize these rich ores of hers at a profit. Various "processes" were continually being tried at great expense, but none of them seemed yet to be the "success" she desired. Stamp-mills, with copper-plate and quicksilver amalgamators, seemed to be the process in use generally, though not saving over twenty-five per cent. of the precious metals usually. Many companies were using these and saving their "talings," or refuse, with the expectation of yet realizing goodly sums from working the "talings" over by some new process by-and-bye. A "process" just introduced was saving from twenty-five to fifty per cent. more from these "talings:" but it was too costly for general use, or, perhaps, to pay. Individual mine-owners and the lighter companies seemed mostly to have suspended, or like Mr. Micawber to be waiting for "something to turn up"—for the strong companies to go on and find the much coveted "new process," when they would resume operations. Another trouble evidently was the great number of companies organized to sell stock east, rather than to mine successfully. Companies, with a property worth a hundred thousand dollars, had frequently issued stock for a million, and of course could not expect to make regular dividends on such an overplus. On a basis of a hundred thousand dollars, or real value, with an experienced honest superintendent, they might have got along well, if content to creep at first and walk afterwards. But as a rule they had preferred to "water" their stock, after the most approved Sangrado method; and the result, after a year or two's operations, was disappointed stockholders and the old, old cry of "bogus" and "wild-cat." Many of the companies, too, were heavily in debt, and what was called in Colorado parlance "freezing out" was taking place largely. That is to say, a company gives a mortgage for say twenty thousand dollars on property worth perhaps a hundred thousand, or at least represented by that amount of stock. When due it is not met, the treasury being empty, and the stockholders discouraged from want of dividends, or by "bear" reports about the mine; whereupon the mortgage is foreclosed, and the "bear" directors buy the property in for a song, thus "freezing out" the feebler and more timid brethren. This operation may lack the essential feature of old-fashioned honesty, but is no doubt a paying one—pecuniarily—for the new owners, who can now well afford to go bravely on. "Others may sink; but what's the odds, so we apples swim!"
No doubt Colorado is rich, immensely rich, in mineral resources—gold, silver, copper, iron, coal, etc.—but she was scarcely making much decided headway as a mining community, so far as could be seen, in 1866. Considerable of her population, indeed, had gone off to Montana and Idaho, to the reputed rich gold-fields there, and many of the rest were waiting patiently for the Pacific Railroad and a market. Great results were anticipated from the oncoming of the railroad, and it is to be hoped she has realized them. Her yield of the precious metals in 1862, it was estimated by good authority, amounted to ten millions of dollars; but in 1863 it fell to eight millions, in 1864 to five millions, and in 1865 to four millions. Ross Browne, in 1866, in his report of Mineral Resources of the United States, with characteristic exaggeration, estimated her yield for that year at seventeen millions; but more accurate observers regarded this as a California joke, and pronounced his estimate at least four or five times too high. The large yield in 1862 represented the maximum from gulch or placer mining, and the soft outcroppings of the quartz veins. But in 1866 placer mining, as I have said, had mostly ceased, and our quartz-miners had to go down so deep, and then got only the hardest and most refractory sulphurets, that the business greatly languished. Yet, it was plain to be seen, the gold and the silver were all there, in inexhaustible quantities, practically speaking; or as Mr. Lincoln once remarked, in speaking of our western mines, "We there hold the Treasury of the world!" All Colorado wanted, as elsewhere said, was the right "process" to subdue these rebellious sulphurets and compel them to release their imprisoned deities. Science surely holds the key somewhere, and waits only the coming man to hand it over to him. Millions of our countrymen are watching and praying for him. A half a continent calls for him. And when this coming man does come, who shall estimate the untold treasures he will here unlock and outpour upon the world! He will but have to strike the naked rocks, and abundant streams of wealth will gush forth. He will but have to touch the rugged mountain sides, and gold and silver by the million will obey his bidding—enough not only to pay our own National Debt, but the National Debts of the world. Let Colorado, then, be of good courage. The Pacific Railroad will cheapen supplies, and swell the volume of her immigration. The Yankee hand and brain are busily at work, conning over her knotty problem; and we may be sure, that the right hour will bring the necessary man.
From Central City we crossed the range at an altitude of nine thousand feet above the sea, and thence descended to Idaho, on South Clear Creek. A fine hotel here, in good view of the Snowy range, boasted itself the best in Colorado, and we found none better. Here also were several fine mineral springs, that bubble up quite near to each