SEPARATED from California by the snowy chain of the Sierra, the State of Nevada has been celebrated, since 1860, for its silver mining. In November, 1859, the news of the discovery of silver mines near Lake Washoe was confirmed at San Francisco; and in June, 1860, the mines of Washoe, the central western portion of the State, had already sent such rich results to Europe, that the French Ministers of Finance and Commerce despatched a mining engineer to Nevada to make a close inspection of these wonderful mines. It seemed as if the world were about to be inundated with silver, as it had been by gold ten years previously; and what would those economists now say, who had only recently counselled that the value of gold coin should be lowered or that gold should be demonetized on account of the disturbed relation of these precious metals—the bases of the standard of payment throughout the world generally. Whilst the French engineer visited Nevada and prepared his report, the miners of Washoe continued working their veins of metal. At the present time, 1881, the mines on the eastern slope of the Sierra Nevada annually produce about $12,500,000 of silver, chiefly from the Comstock lode; the total yield of gold from the quartz mines of California is about $17,000,000 per annum. The Comstock lode, in the State of Nevada, may be ranked among the most productive metalliferous deposits ever encountered in the history of mining enterprise; its productive capacity, as now being developed, surpassing, if the mass of its ores do not in richness equal, those of the most famous mines of Mexico and Peru.

The known limits of this lode cover a space of 22,546 feet in a nearly due north and south direction (magnetic). The variation of the needle in that locality is 16½ degrees east. Upon this extensive seat of metalliferous deposits, the mines are divided into three groups: the Virginia Group, seventeen mines, with claims of 13,549? feet; Gold Hill Group, nine mines, of 6,397¼ feet; American Flat Group, three mines, of 2,600 feet. The three groups of twenty-nine mines thus occupy a total length on the lode of 22,546 feet. The Comstock lode was discovered in 1859, by a pit sunk for a water hole on the ground of the Ophir mine; milling the ore began in October of the same year, but the amount of bullion taken out in 1860 is estimated at but $100,000. Since then the Comstock has become the greatest gold and silver mine in the world. To the end of 1878 the yield was estimated at $291,162,205, as follows: From 1860 to 1870 inclusive, of gold and silver together, unclassified, $102,466,240; 1871 to 1878 inclusive, gold, $88,691,498, silver, $91,278,623; 1877 and 1878, gold and silver, unclassified, $1,725,844. Making allowance for the loss by slimes and tailings, the gross contents of the lode as worked up to 1878 are estimated at $363,961,205. About 6,500,000 tons of ore have been extracted in this time, which a good authority estimates of an average value to the company of $45 per ton of 2,000 pounds.[5]

ANNUAL PRODUCTION of GOLD and SILVER in the UNITED STATES from 1853 to 1880, inclusive.

[From the Reports of the Director of the Mint.]

The consumption of Gold and Silver in the Arts and Manufactures from 1874 to 1879, inclusive, in the United States, was estimated by the Director of the Mint, in 1879, as follows: