Mr. STEWART. Mr. President, the mag nitude of the interests involvedin this bill, and my long residence in the mining regions of the Pacilic, make it proper for me to submit an explanation of the laws and customs of miners, the importance of mining, and the objects sought to be attained by the proposed legislation. Upon the discovery of gold in California in 1848, a large emigration of young men imme diately rushed to that modern Opliir. 'Ilicse people, numbering in a few months 100s of 1,000s, on arriving at their future home found no laws governing the possession and occupation of mines but the common law of right, which Americans alone are educated to a minister. They were forced by the very necessity of the case to make laws for themselves. The reason and justice of the lawsthey formed challenge the admiration of all who investigate them. Each mining district, in an area extending over not less than 50,000 square mi es, formed its own rules and adopted its Own customs. The similarity of these rules and customs throughout the entire minin region was so great as to attain all the beneficial results of well digested, general laws. These regulations were thoron hly democratic in their character, uarding against every form of mo nepoly, angrequiring continued work and occupation in good faith to constitute a valid possession. After the admission of California as a State in September, 1850, Mr. Fremont, then Senfrom that State, introduced a bill, the purpose of which was to establish police regulations In the mines. It imposed a small tax upon the miners to defray the expenses of the sys tem. Many Senators, when the bill came up for discussion, expressed the opinion that the mines ought to be sold or some means devised by which a direct revenue might be obtained from that source. Various amendments'were offered to effect these purposes. But Mr. Benton took a leading part in the discussion, and contended throughout that good policy required that the mines should remain free and open for exploration and development. Mr. Seward sustained Mr. Benton. 1 will read a few extracts from the remarks of each, as reported in the Globe, to show the sentiment that prevailed in the Senate at that.time. Mr. Ewing, of Ohio, offered an amendment to the proposed scheme which introduced a system of seigniorage, the money going directly to the Government and the Government paying back a certain portion of it to the miner. Upon that amendment Mr. Benton made the following remarks, among others: " The motion which hasbeenmade by the Senfrom Ohio and the very obtection madeto it by the Senfrom California, rings up the question which I have no doubthasoccupied the pub'o mind and the minds of the membersot'Congress.an which everybodycould foreseewould come up in the course of this debate. It is the questionwhetherthe U.S. will undertake to make a revenueout of the mines. This question is now brought up b the motion on the one side and the objection on t a other; a questionwhich all must have seen would nrise, and to the consideration of which the attention of the whole Senate ought to bedirected. I am decidedly of the opinion that the U.S. ought not to undertake to make a revenueout of the mines, that the U.S.ought to content licrselfwith get ting the woalth out of the bowelsof the earth itself, which is now lying so useless. that sheouxlit to content herself with r cccivingwhat will pay the expensesof the administration of such a system and that systemshould be Just as simple as it can be made, and at the same time preserve order among the miners, ” He goes on at length discussing the disad vantages of encunibering the enterprise of that country with regulations further than simply to preserve order. He says: “ I therefore wholly object to the whole idea of deriving revenue from thesemines. I am in favor of the simplest possible modewhich will cover the expenses.” Mr. Seward, in the course of the debate, said: " I will add new only this: that the objects of the U.S. in regard to the gold mines in California should be, in the 1st place.to brinn' to the generalpublic useof the people of the U.S. the largest possible acquisition of national wealth from theirnewly discovcredfountains; andsccondly, to render the mining operations conducive to the best andspeediestpossihlo settlement of ourvast countrics on the Pacific coastwhich are so soon to exercise boundless commercial, social, and political influences over the eastern world. The pecuniary wealth and the |)0lli.lCtl pl power thus to be obtainedwill be obtained just in proportion to the number and nssiduity of the personswhoshall be on aged in workin the mines of California. That number and that assi uity will be in exact proportion to the liberality of the terms upon which the mines shall be opened. It was on this ground that I voted against the imposition of my honorable friendfrom Ohio, [Mr.lfiivisu] which contemplated scignioragc and revenue to the Government from these mines, and in favor of the provision contained in the bill, which stipulates for nothing in the way of revenue, but enough to pay 21: expenses of regulating the operations in the med. The arguments of Senators in favor of free mining finally prevailed, and all amendments looking to sale or direct revenue were voted down, and the bill finally passed the Senate without material amendment, in its original form, but failed in the House from want of time to consider it. This solemn declaration on the part of the Senate in favor of a just and liberal policy to the miners was hailed by them as a practical recognition of their possessory rights, and greatly encouraged and stimulated mining enterprise and laid the foundation for a system of local government nowiu full force over a vast region of country inhabited by near a million men. The Legislature of California, at their following session, in 1851, had under consideration the subject of legislating for the mines; and after fu l and careful investigation wisely concluded to declare that the rules and regulations of the miners themselves might be 0 ered in evidence in all controversies respecting mining claims, and when not in conflict with the constitution or laws of the State or of the U.S. should govern the decision of the action. A series of wise judicial decisions molded these regulations and customs into a comprehensive system of common law, embracing not only mining law, (properly speaking,) but also regulating the use of water for mining purposes. The same system has spread over al the interior States and Territories where mines have been found as far east as the Missouri river. The miner’s law is a part of the miner's nature. He made it. It is his own bantling, and he loves it, trusts it, and obeys it. He has given the honest toil of his life to discover wealth which when found is protected by no higher law than that enacted y himself under tie implied sanction ofajust and generous Government. Miners as a community devote 3/4ths of their ag egate labor to exlorntion, and consequeuty are, and ever will remain, poor, while individuals amass large fortune, and the treasury of the world is augmented and replenished. Senators who have not given this subject special attention can hardly realize the won derful results of this system of free mining. The incentive to the pioneer held out by the reward of a gold or silver mine, if he can find one, is magical upon the sanguine temperament of the prospector. For near aquarter of a century times of men, constituting a majority by far of all the miners of the West, patient of toil, hopeful of success, deprived of the associations of home and family, have devoted themselves, with untiring energy, to sinking deep shafts, running tnniicls 1000s of feet in solid granite, traversing deserts, climbing mountains, and enduring every conceivable linrdshi) and privation, exploring for mines, all predicated upon the idea that no change would be made in this system that won (1 deprive them of their hard earned treasure. Some of these have found valuable mines and a sure prospect of wealth and comfort when the appliances of capital and machinery shall be brought to their aid. Others have receiVed no compensation but anticipation, no reward but hope. While these people have done little for themselves they have done valuable service for this Government‘ They have enhanced the value of the property of the nation near 100%., as 1 shall hereafter show, and they have converted that vast unknown region, extending from British Columbia on the north to Mexico on the south, and from the eastern slope of the Rocky mountains to the western decline of the Sierra Nevada, into the great gold and silver fields of the U.S., surpassing in richness and extent the mines of any other nation on the globe. I assert, and no one familiar with the subject will question the fact, that the sand plains, alkaline deserts, and dreary mountains of rocks and sage brush of the great interior would have been as worthless today as when they were marked by geographers as the great American desert but for this system of free mining fostered by our neglect and matured and perfected by our generous inaction. No miner as ever deubted t ie continued good faith of the Government, but has put his trust in its justice and liberality, traversin mount ain and desert as incessantly and as iopefull as the farmer of the West has plowed his fiel. What he now occupies he has discovered and added to the wealth of the nation. This good faith of the Government (promised, as it were, by the action of this Senate 16 years ago) not only inspired enter rise and led to discoveries the magnitude and importance of which cannot be overestimated, but in the time of the severest trials of the Union, no people were more loyal than the miners. They ost no opportunity to enlist in your armies or contribute to the support of the Government. Their liberal donation to the sanitary fund was but a slight manifestation of their deep l0ve of the Union and sympathy for its sufferinv heroes. The little town in which I reside contributed in gold coin over $112,000, being at the time about 30 dollars to each votin inhabitant, and a like liberality was displayed by the whole coast. The people are truly grateful to a generous Government, and time seems to have strengthened the tender regard they feel for their native land and their early homes. But they lock with jealous eyes upon every proposition for the sale of the mines which they have discovered and made valuable. Any public man who advocates it, with what. ever motive, is liable to be condemned and discarded as an unfaithful servant. The reason for this is obvious. It is their all, secured through longyears of incessant toil and privation, and they associate any sale with a sale at auction where capital is to compete with poverty, fraud and intriguewith truth and honesty. It is not because they do not desire a fee simple title, for this they would prize above all else; but most of them are poor and unable to purchase in cometition with capitalists and speculators, whicii the adoption of any plan hers tofore proposed ivould compel them to do; and for these reasons the opposition to the sale of the mineral lands has been unanimous in the mining States and Territories. To extend the preemption system, applicable to agricultural lands, to mines is absolutely absurd and impossible. Nature does not deposit the precious metals in rectangular forms descending between perpendicular lines into the earth, but in veins or lodes varying from one foot to 300 feet in width, dipping from a perpendicular from one to 80 degrees, and coursing through mountains and ravines at nearly every point of the compass. In exploring for vein mines it is a vein or lode that is discovered, not a quarter section of land marked by surveyed boundaries. In working a vein more or less land is required, depending n on its size, course, dip, an a great variety of other circumstances not possible to provide for in passing General laws. Sometimes these veins are foun in groups, within a few feet of each other, and dipping into the earth at an angle of from 30 to 50 degrees, as at Freiber, in Saxony, or Austin, in Nevada. In sucii case a person buing a single acre in a rectangular form would have several mines at the surface and none at 500 or 1,000 feet in depth. With such a division of a mine, one owningit at the surface, another at a greater depth, neither would be justified in expending money in costly machinery, deep shafts, and long tunnels or the working of the same. Nor will it do to sell the land in advance of discovery. for this would stop explo rations and practically limit our mining wealth to the mines already found, for no one would prospect with much energy upon the land of another, and land speculators never find mines. The mineral lands must remain open and free to exploration and development, and while this policy is pursued our mineral resources are inexhaustiple. There is room enough forevery pros ector who wishes to try his luck in hunt iing or new mines for1,000 years of exploration, and yet there will be plenty of mines undiscovered. Itwould be a national calamity to adopt any system that would close that region to the prospector. The question then presents itself, how shall the Government. give title, so important for permanent prosperity, and avoid these intoler able evils? I answer, there is but one mode, and that is to assure the title to those who now or hereafter may occupy according to local rules suited to the character of the mines and the circumstances of each mining district. The importance of legislation of this kind is daily increasing by the agitation of the subject, by the intro notion of bills looking to what the miners regard as a general system of confiscation, destroying all confidence in mining titles, and by the absolute necessity of some system arantying to capitalists security for their Investment. Your committee, feeling that the time has arrived when the prosperity of the country repuires a settlement of this question, have careully prepared a substitute for the bill introduce by the Senfrom Ohio, which they believe is free from most of the objections hith' erto urged to a sale of the mines. The system proposed by this report may be improved by experience, but your committee would apprehend evil consequences from any material change of the plan at this time. It. continues the system of tree mining, holding the mineral lands open to exploration and occupation subject to legislation by Congress and local rules. I:recognizes the oblition of the Government to respect private rights which have grown up under its tacit consent and approval. It is in harmony with the legislation of 1865, which provided that“No possessory action between individuals ln any of the courtsof the U.S.for the recove of any minim: title or for damagesto such title, shall be affectedby the factthattheparamounttitle to the land on which said minesare is in the U.S. but oach case shall be adjudged by the law of pos cssion.” It is also in harmony with h the rules of property, as understood by a million men, with the legislation of 9 States and Territories, with a course of judicial decisions extending over near a quarter of a century and finally ratified and confirmed by the SCOTUS. In short, it is in harmony with justice and good policy. The plan further proposes to allow the miners who have and who may hereafter occupy and improve mines in good faith, and according to the local rules, to purchase at the rate of live dollars peracre and receive a patent therefor in such a form as shall grant the mine with its dips, spurs, and angles to any depth, with such reasonable amount of surface as the miners shall determine by local rules to be necessary for the working of the same. It also provides, in case of dispute as to the right of possession, for the determination of that question in the local courts where the miners’ laws are understood and fairly administered. It makes the public surveys conform to nature, not nature to the surveys. It requires the payment of 3%. of the net procee s.into the Treasury until the national debt shall have been paid, which is to be in lieu of the stamp tax now levied. It furnishes the means to actual settlers of acquiring title to their liomcsteads by segregating the agricultural from the mineral lands, and confirms the rights to the use of water and the right of way for ditches as established by local law and the decisions of the courts. In short, it proposes no new system, but sanctions, reg ulates, and confirms a system to which the people are devotedly attached, and removes a cloud of doubt and uncertainty which recently has depressed and retarded the growth and prosperity of our mining communities. In my opinion this bill will furnish homes to 1000s of families, give stability to mining titles, invite capital, and greatly increase the production of the precious metals. The proposed tax is not. large and will not be oppress ive, but it is all the subject will bear, and is just 3%. more than the farmer pays on the net product of his farm, but those who have net product have money with which to pay, and the miners never refuse to pay as long am they have money. Any tax upon the gross proceeds, however light, is oppressive and unjust. In the forcible language of the Senfrom California, “it is a tax upon effort.” Nearly all the mines through the various stages of their develoment produce more tr less gold and silver, but until they commence making divi dends the assessments usually exceed the product, and sometimes 100to one. Any further burden under these circumstances tends to break down the effort before the mine is proved. It is like the tax on crude petroleum imposed last year and removed this by a special net. It would bemuch better policy for the Government to offer a reward for the discovery and development of a mine than to embarrass the prospector who has realized nothing but loss and privation. The fact that the explorers and pioneers of a mining region are usually car is no reason why the Government shouldnot encourage mining, for we owe a large debt, and while it exists a dollar’s worth of gold or silver dug from the earth is much more serviceable to the Government than a dollar’s worth of cotton or any other product. The increase of the precious metals serves a double purpose. A dollar in gold or silver adds as much to the wealth of the nation, is just as good an export, and will stimulate commerce and enterprise as much, as the choicest products ofany country. If used as an export it costs less in transportation than any other product, and the article which it buys pays the same duty (which is not less than 50 cents on the dollar) as an article purchased with cotton or wheat. But after we have compared it and find it performing all the functions of any other commodity, and with more ease and facility, we have not yet. taken into the account its most beneficial agency in relieving a nation burdened with debt. Its great office is to enhance values by cheapening metallic currency, the measure of values. Previous to the war we had no national debt. Our financiers were not interested to inquire how the burdens of the nation could be lightened by large and increasing yields from the mines, but war has changed our situation and incumbered us with 3,000 millions of debt, with accumulating interest, which, before it can be paid, will reach the enormous sum of not less than 6,000 millions, principal and interest, all to be paid in gold or its equivalent. Our financial circumstances are now entirely simi lar to those of the nations of Europe, encumbered with vast pecuniary obligations. Their experience and investigations have become subjects of living interest. While labor is the real standard of value and the ultimate source of wealth, gold and silver are the universal measures of value, not only of the value of every other commodity, but they are the test by which every other circulating medium is estimated, thus educating the popular mind in the erroneous belief that a piece of gold of a given degree of fineness retains a fixed and permanent value. The fallacy of this is exposed by the fact that in every country a certain amount of labor, the true standard of value, commands different prices at different times. And this rflsult does not follow so much from the varied productiveness of the labor as from the change able supply of the current coin, thus clearly establishing that the cheapness of gold depends upon its abundance. And this theory is strongly fortified by historical facts. At the commencement of the 16th century, and anterior to the discovery of the gold and silver mines of Mexico and South America, the commercial world was limited to about 165 millions of metallic currency. As an evi uce of the high price of gold and the comparative low estimate of labor, there was no silver coin even sufficiently small to offer in recompense for a day’s toil. At the termination of the 16th century the increased supply from Mexico and South America raised the metallic currency to near 700 millions, proportionately enhancing the value of labor fourfold and quadrupling the price' of land and every article of produce and commerce. The gradual advance of the metallic currency during the 17th and 18th centuries, keeping pace to much extent with the increasing supply of other commodities, failed to reveal the Wide disproportion so marked and characteristic of the 1st 100 years that followed the opening of the gold and silver fields upon the western continent. The current metal of Europe and America of the year 1809 is estimated at S1, 800,000,000. Then began those revolutionary throes in the Spanish American provinces which almost paralyzed, fornear half a century, the production of the precious metals. The meager supply of that revolutionary period scarce'iy transcended the consumption for manufacturing purposes and the deficit occasioned by wear and loss and exportation to Asia. The failure of the metal crop taxed every energy and resource of the financier and provoked ine rdinate issue of bills of exchange and paper money. The time was prolific in financial crashes, and still the price oflabor and the value of property romaine comparatively stationary, with a disposition to decline. The nations of Europe, heavily encumbered with debt, were exhausting theiringenuity to relieve the people from oppressive and ruine us taxation. Their debt was gold, and the material requisite to defray it was daily becoming scarcerand dearer. English financiers have candidly conceded that but for the discovery of gold in California, the struggle would have terminated in general ruin and convulsion a discovery that sud denly revolutionized the commercial world and removed a burden from labor which was fast becoming too grievous to hear. It is a pregnant fact, and completely illustrative of this position, that in 1850 the amount of me tallic currenc had not advanced beyond the 1800 millions of the year 1809. It was reserved for California to awaken the latent energies of the entire mining world. This youthful and proud and vigorous State is already enrolled in the history of the monetary world as the valorous leader that headed the forlornest of hopes and rescued the droopin nations of Europe from pecuniary ruin on national dissolution; for I need not assure the Senate that money is the siuew and safety of modern government. It was California that aroused the spirit of discovery in Australia and New South Wales and breathed a revival in mining enterprise in Mexico and South America and awoke the slumbering mining energies of Europe and Asia. This astonishing vigor and impulse, originating upon the placers that border upon the American river, are resulted in doubling the metallic currency of the commercial world, and increasing in equal proportion the prices of labor and property in the brief space of 15 short years. It has enabled England, our emulous rival in commerce and the arts and amenities of civilization, that was shuddering upon the brink of a pecuniary abyss, to extricate herself from a moiety of her enormous debt; because the property of that country at this moment commands double the amount of gold it could realize 15 years ago. The same beneficial result is developed upon the soil of the U.S. In every section of our land labor secures twice the quantity of gold that could be obtained previous to the settlement of our)00)10 upon the Pacific coast. The farms of the Atlantic States nnenhanced by additional ini provements, have duplicated their gold value. The assessed estimate of the property of the U.S. in 1850 exceeded but little the sum of 7,000 millions, while in 1860 it exhibited an advance of Over 9,000 millions. Is it wisdom to contemplate this in crease as sincere and actual? Thatin the short I period of ten years the labor of our country produced more value by 9,000 millions than the accumulated labor of the long period that has elapsed since the 1st emigration to the wilds of this continent? The explanation is found in the increased supply of the current coin the measure of value. The same property previous to 18:30was represented by less gold. And this computation will satisfactorily account for at least 7,000 millions of the estimated increase, leaving the remaining 2,000 to be absorbed by additional products of labor. Upon these premises, as a basis for ca]culalion, l will suppose the U.S., in 1850, involved in a debtof 1,000 millions. such indebtedness would have amounted to one 7th of the assessed value of the entire property of the country; whereas in 1860 it would have diminished to one 16 th; and, relying upon a proportionate increase of our national wealth, the same debt in 1870 would descend to one 35th part, and in 1880 to one 98li thus becoming the very trifling and incozisiderable burden upon the national property of about 1%. By applying the same numerical principle to the actual debt of the land, which varies but little from 3,000 millions, and the present large and appalling incubus of 20%. upon the pride and pros perity of the country will sink to the small ‘gure of 3%. in 25 years and at the commencement of a new century to less than one and 1/2 of 1%. And this pleasant emisumlnation may be at taaiged without any diminution of the principal e t. Alison, the historian, records in glowing language the effect of the new discoveries upon the civilization and material prosperity of the nations of Europe, and I will) avail myself of his forcible language. He says, in his History of Europe: "It will belong to a gncceerlim;historian to nor rate the wondertul spring which the country made during the 5 years which followed 1332under the influence 'of the gold discoveries in America and Australia; but a brief notice ot them is here indis pensable in order to explain the main causeswhich were in full operation in that year when the general election took place and freetrudowasfinally adopted as the system of the nation. It is well known that in consequence of the extension of the American dominion over oxnslin 1848a.nd the war with Mexico which came, California wns cededto the U.S and becamea part of the Union. The Spaniards. thirsling for gold. had been there for time 100 years and the irold was miXed with the alluvial sand under their feet but they neverfound it out. Before the Americans had been there 6 months it was discovered and the face of the world was changed.miners s eedily flocked to this El Do rndo from all parts of mericn and many of Europe and the progress which ensued was so rapid that it would be deemed fabulous it“ not ascertained by authentic evnlcncc, In February. 1840, the population of huropgmnsin the State was 2,000: in Junc. 1802 it wasalready 182,000; and in 18:36ith’ad risen to 560,000. Soon after this great discovery had been made a similar vein of prosperity "wla1s8o4p9o, ipnatdhiena Alluusvtiraalliap.lai Gnsolndewara Bsathllenrrendt, isncnodvethreisd let] to a general search in the vicinity and the precious article was soon found in great quantities. The effectswereimmediately the same as they had been in California. Population and wealth enor mously meroased, and the emigration to it in 185i rose to ciizlity 7 thonsthid persons: the exports turned 14,000.0X beingabout 28 pounds a head; and the gold obtnined amounted to the enormousvalue of15.00ll.000. “The annual supply of gold and silver for the use of the globe was. by these discoveries.suddenly in cre nsed from an averageof 10,000,000 to one of 0.000. The words of poetic genius were more than realised. Methinks. asI gaze around, I see the ipteshclelmeof the all benclicent Father disentanalimr clear through the troubled history of mankind. llow mysteriously, while Europe rears its population and fulfills its civilizing mission, theserealms, which have been concealed from its eyes, divulged tous just as civdimtion needsthe solution to its problem: a yent for feverish energies. Bathed in theorowtl. oTTer in: bread to the famished hopeto the desperate, in very truth enabling the ow World to rodrossthe balanceof the Old. Here the actual Eneid passes beforeour eyes. From the hearts of the exilesscat tfered over this hardier Italy. who cannot seein the "utnrc‘A race from whenceNewAlbion ’ssons shall come. And the long glories of a future Rome.’ "Most of all did GreatBritain and Ireland experience the wonderful effcotsof this great addition to the circulating mediumof our globe. That which for live and 20 years had been awarding u. currency commensurateto the increased numbers and transactions of the civilized world wasnowsupplied by the beneficent hand of nature. The era of a contracted currency and consequenflow pricesand General misery, interrupted by passing glcams of pros: verity. was at an end. Prices rapidly rose; wakes advanced in a similar proportion; exports and imports enormouslyincreased.while crime and misery as rapidly diminished. Einicration itself. which had reached 368,000 personsn year. Ftllik lollttle more than hitf the amount. Wheat rose from 40 sliillinizs to65 shillinxs; but the wages of labor of every kind advanced in nearly as great a proportion; they were found to be about 30%. higher on an average than they had been 5 years before. In Ireland the chan u was still preater and probably unequaled in so aiort n. time in the annals of history. Wages of country labor rose from four pencea day to one shilling 6pence or 2 shillings: convicted crime sank nearly a half; and the increased growth of cereal crops. under the genial influences of these advanced prices. was as rapid as its previous decline since1846had been. At the same time decisive evidence was afforded that all this sudden burst of prosperity wasthe result of the expanded currency and bynomeansof free trade.in the fact. that it did not appear till the acid discover iescameinto operation, and then itwas fully as great in the protected as in the free tradeStates." Ten years have elapsed since this record was made, and the yields of gold and silver are still increasing. What historian shall record the marvelous progress of the civilized world during that criod'.’ The U.S. has just emerge from the most tremendous civilWar recorded in history, and the world still inarvels at the enormous resources disclosed in that struggle for national existence; but the stimulating influence of this abundant yield of the precious metals upon the vast products of our extended domain, when properly apprencipatd and understood, will explain lunch of this astonishing exhibition of wealth and reveal something of the importance of a full and coni plete development of our mines. Gold innst be cheapened by abundance; industry must be excited by the exiansion of metallic currency. And here ariSes the vital inquiry, whether our country embraces the mineral fields from which to drain the requisite supply to double once more within the coming 15 years, or perhaps a shorter period of time, the metallic currency of the world, whereby to virtually extinguish the 1/2 of our national debt. From the plains of the Missouri to the Pacific ocean stretches an area exceeding1,000 miles square upo n American soil of mineral region unparalleled in richness. It would almost seem that the knowledge of this vast and exhaustless wealth had been especially withheld through the long ages of the past as a fitting boon and priceless legacy fort he present exigencies of the great American Republic. The wild space formerly designated upon our maps as the “unexplored region” or the “Great. American desert" has been revealed to the startled world, laden with purer and more abundant ores than were attributed to the ancient Oph'ir. But whatever exaggerated ideas may exist. elsewhere, I need scarcely in form the Senate that the mere knowledge of its locality accomplishes but little toward its attainment; for it would appear as if namre, peculiarly jealous of her treasure, has encir cled it with most formidable barriers. It has imbedded it in deep vaults, walled in by rocks of primitive formation; ithas cut olf the access of navigable rivers by lofty and snow capped mountains, and refused, to much extent, the appbances of water and timber and productive BOl. The primary conditions upon which the development of our mineral wealth depend are, 1st, transportation; 2nd, a scientific knowl edge of mining; 3rd, security of titles; and 4th, abundance of capital. The 1st question of transportation is involved in the speedy completion of the Pacific railroad. The importance of this enterprise, in view of the political, commercial, and financial condition of the country, cannot be over estimated. Politically it will be a new bond, unit in the interests and destinies of the Pacific an Atlantic and consolidating the pewer of the nation against foreign enemies and domestic foes. Commercially, it is the agent whereby the advantage of occupying a cent ral position between Europe and Asia can be fully realized, and is the only means of combining the innu merable benefits of a free interchange of the products of our interior domain with our commercial cities on both sides of the continent, and with foreign lands across both oceans. Financially, it is the key with which we will unlock the rock bound vaults of nature, and seize the untold millions of gold and silver boarded by Providence from the creation of the world, for the purpose of ‘furnishing the means of accomplishing the cat destinv he has ordained for us. The li eral donations of the Government to this grand enterprise will mark the progress of the present age. add new glory to the American name, increase the wealth, and lighten the burdens of the people. Much has been done by the inventive genius of the American people to acquire a practical knowledge of mining and the complicated machinery necessary thereto. Millions have been expended by the miners themselves in experiments and inventions, and a laboratory of art may be found in the mining region of the West where the students of the Old World may learn new lessons, but Americans are not yet edu cated in the science of mining. All the nations of Europe of any importance have well endowed mining colleges, supported to a great extent at public expense, where 1000s of young men are educated in this important branch. The few Americans who pretend to scientific knowl edge of this subjec have been educated in Europe. Every your young men go from the Pacific States to Freiberg, Paris, or other European cities to learn how to mine in their own country. 100s of 1,000s of dollars are paid annualy to foreigners for that scientific knowledge 0 mining which Americans do not possess. but our eastern schools one beginning to realize the importance of this subject. Columbia, Yale, Harvard, and other colleges are making laudable ctforts to supply the effects: but we need mining colleges in the ruining districts where the youth of America may study the science of mining with the laboratory of nature before them as a guide, and where theory and practice may be combined. We want some means of disseminatin useful information on this subject among t in people at large. To this end Congress may do much. We want a law of the character of the bill under consideration to establish and secure mining titles. While these are in doubt a feeling of insecurity will paralyze all our eli'orts: “Known mischiefshave their core, but doubtshave none; And better is despair than fruitless hops Mixed with a killing fear." Let a just, liberal, and definite policy be adopted toward the miners. Add to their possession the absolute right of property, and you will have lain a solid foundation for large and increasing yields. In the language of Black stone, “'1here is nothing which so generally strikes the imagination and engages the slicetions of mankind as the right of property; or that sole and despotic dominion which one man claims and exercises over the external things of the world in the total exclusion of the right of any other individual in the universe. The feeling of security and independence produced by the right of property in the soil is the real foundation of our stability and prosperity as a people. A nation of freeholders is a nation of sovereigns, but a nation of tenants is a nation of slaves. Let not our free system of mining be degraded into miserable monopolies or disastrous confusion, but let it be confirmed, enlarged, and perfected, and the great national bank of redemption in the West will never refuse specie payment. In conclusion, I maintain that the facts of history furnish abundant proofthut larce yields of the precious metals are the best and strongest incentives to industry, the aecurflulutionl of wealth, and the advancement of society. Rich mines, good titles, free labor, railroad transportation, modern improvements, and the light of science will dispel at once that hideous phantoms of gloom and despair that l have floated before the public vision, and atlix the indelible stamp ofinfamy upon that tim owns or wicked class who would raise the dishonest cry of repudiation. Our national debt is the legitimate price entailed upon us by the retracted and fearful and final struggle for the integrity of our glorious Union and vindication and permanent establishment of the republican, principle upon the globe. And the argument I i have endeavored to pursue. while elevating the precious metals the essential product of the l western half of our extended confines into the true and controlling kings of trade and finance, the indispensable element of our future. national wealth and greatness, equally enforces l the necessity on the part of the Government l as well as the individual to stimulate our mineral resources to their full and complete devel epinei it.