THE SXJTEO TUNNEL AND VIRGINIA CITY, NEV i i relate to you the magnificent results ob- _ __ — - - ! tained from their completion ; I might tell { you ot the enormous fortunes which were j obtained thereby, ami give you many other TOJESOAV... ... .HjEPI’. 20, ls>O0. • SPEECH OF ADOLPH SUTRO, On the Sotro Tunnel and the Bank < California. DELIVERED AT OTEB’fc OPKBA HOUSE, YIB- ai.viA city, septbmbeb 20, 1869. Fellow Citizens —For eome years past I have been closely identified with an enter¬ prise which has a vital bearing upon the prosperity of tuis section of country, and if I appear before you now for the first time in my life as "a public speaker, it in with a thor¬ ough conviction that upon its success de¬ pends your future welfare. You have alt heard of the Sutro Tunnel, but I believe rhero are many among ycu who do not entirely nnderstand its iiupoi- taaco, and tho groat results which mast fiow from its construction. If you will have a little indulgence with me then, 1 shall try to explain to you wbat the Tunnel will accomplish, whai has thus tar pre¬ vented its construction, and shoiv you that by joint action, you can easily consummate and carry out what appears to be a gigantic undertaking. It will become necessary, in the course of mv remarks, iu order that you may prop¬ erly understand this Tunnel project, to os- 'poStr some of the doing's of an institution called the California Bank. I shall tell the truth, without fear and reservation, for I have come here to “fight it out on this liue,” and I intend ta do so, ‘‘though the heavens fall.” About ton years ago, Peter 0 Reilly dis¬ covered the existence of silver on what is now know.i as the Comstock lode, tie rich¬ est silver voiu of which there is any record in ancient or modern history. Work, du¬ ring that space of time, progressed rapidly, and where it was an easy task to extract the minerals from those mines iu tho beginning, it is now one of extreme difficulty. They have reached an average depth of probably 1,000 feet, and wo find that nearly fifty steam engines are required to pump out the water and hoist the ore. The expenses of keeping so much machinery in motion is immonse, and even at this present time, they absorb so much of tho profits that it has already become unprofitable to work some of the mines. It is not only the original cost ol the ma- cbiuerv and the onormous consumption of fuel, in a counu y where no coal exists, but the constant additions, tho wear and tear of engines, boilers, cables, cages, etc., etc., the vexatious dolays by breaking down ; the lengthening out of tho pumps, pipes and rods ; tho excavations for and the con¬ struction of pump bobs; the ongmeors, firemen and other attendants required ; in tact, the innumerable aud constant expen¬ ses connected with tho operation of exten¬ sive and heavy machinery, which has to bo increased for every foot of descent, and which makes it only a question of time when these mines will liavo to be abandoned, no matter how rich tho ore. In addition to all this, we find that the heat at the present depth, has so much in¬ crease:! that, notwithstanding the improved ventilating apparatus, tho men can do but one-half the work which they could in a cool, healthy atmosphere, ami the loss iu consequence is more than a million of dol¬ lars per annum. Is it any wonder then, that these, the richest mines in the whole world, will no longer pay under tho present unwise system of working ? You are told that in order to make them profitable again your wages must be reduced, and next in succession you will he told that white labor does not pay any snore at all, but that Chinese must tako it3 place. If tho mines do not pay now what will he their condition in two or three years from now ? If it requires from forty to fifty steam engiues to work them at a depth of 1,000 feet, how many will be required at a depth of 1,500 or 2,000 feet? If tho ther¬ mometer now stands at 95 or 100 degrees iVihronheit, aud the miners become con- »u Tiptive for the want of oxygen in the air, ami can do but ono-balf their usual amount of wetrk, what will become of them at that greater depth ? Will it be possible to work them at all? I might cite numerous instances of mines in Mexico and all parts or the world, which had to be abandoned on account of the rap¬ idly increasing expenses as depth was vouched, but I cannot go into these details on the present occasion ; all I can say to you is, that experience in all places and at all times has shown that mines at some time do reach a depth, where the constantly increasing cost of mining exceeds the yield, and hence wo find that during several thou¬ sand years of mining Operations, even by moans of tunnels and other auxiliaries, the greatest depth which has yet been reached on anv mino m the world is but 2.700 feet. Tho* laws of nature and of mechanics are alike every where, and it is my firm belief that some of the mines on tho Comstock lode have already reached a deptli where it no longer pays to work them, and that they all will reach that depth before a deep tun¬ nel can possibly bo completed. NY bat then will become of the once flourishing coun¬ ties of Story, Ormsby, Lyon, Washoe and Douglas, which almost entirely depend on the produce of these mines? Is it not proper that overy good and well thinking citizen should earnestly reflect upon the fate that would ovorroach this Commonwealth should that great and only sourco of our prosperity cease to exist ? There would no longor be employment for tlio miner, the laborer, the mill-hand, tho carpenter, the blacksmith, the mason, the teamster. No longer .would there be any one to support and patronize your newspa¬ pers, groceries, bar-rooms, hotels, livery stables, express companies, assay offices, dry goods, clothing, millinery, drug, hard¬ ware, cigar, fruit and book stores. Your dwelling-houses would be deserted; your stores without tenants; yonv real estate valueless; your mills would be idle ; no more lumber would be required ; your tann¬ ers and gardeners would no longer have a market; your Stcte Government would com- ' lence to totter; tho Assessor would find if: ' assessment roll grow gradually less; Treasurer would see his cash account fish in tho same proportion; your State orodlt would bo sadly shaken ; the people in the r districts or trio eastern por- ‘ F , lovada would have toboar the whole bui-don o. ’taxation to support tbo Goveru- and 60 P av tho interest on the State mb and b mkmptcv, min and desolation woSd be bro. Affht upon a once flourishing °°Th« y is a d picture; it is its darkest Side- but it is m 't well, while we are still in , ion toa -t while we have sufficient a condition , tQ flomo exertion, while interesting particulars wore it not for the ! want of time to-night. The Sntro Tunnel, starting at a point ! near Carson River, will reach the Comstock lode in a distance of 20,178 feet, and cut tho ie at a perpendicular depth of 1,922 feet, _ depth along the dip of the lodo of 2,900 foet below the floor of the Gould A Curry Company's former office. In order to ex¬ pedite the work, four shafts will be sunk on rbe tunnel route, from the bottom of which, t the proper depth of tho tunnel love!, drilts will be extended iu each direction. After reaebing the Comstock lode, tlio tun¬ nel will be continued northerly along the lodo to and beyond the Sierra Nevada mine, and southerly along the lode to and beyond American Flat A very elaborate report was made some timo ago by It. G. Carlyle, Esq., an engineer of a high order of ability, on the details of construction and cost of tbo tunnel; his report covers about 200 foolscap pages, is full of illustrations, and in its details alto¬ gether a creditable and reliable work; his estimate gives the cost of the tunnel at about $100 in gold per foot, which, probably, r a IS TTC OF GYAXjfFOITNTAA. v iu tho face and de¬ nt the calamity ? look tlie enemy bold!. \ struction of tho Sutro work is commenced on tL F reasonable prospect, of com »*,that day you give a now lease of . ^toQaat me tion or country I From that y °5 stil now confidence into the that day on your real estate and <■ ^( prop¬ erty will ouco more assume a v '^e anu people will no longer say to you. as cut of ten do now, that they are going .olene the country in a iow months. Great tunnels have been constructe d for centuries in all countries where mini erg is .•arrieil on intelligently, and they have ac¬ complished precisely what we desire to as- oomplish here. I might give you instances of tunnels constructed, three or four times tho length of tho one proposed here, whllo is somewhat below the mark, taking into consideration the unknown difficulties usually encountered in such extensive works'; be estimates the timo necessary to complete ic n®wo and a half years. The principal advantages this tunne l will creato, as far as mining operations on tho Comstock lodo are concerned, may be enu¬ merated as follows : First—All pumping machinery may bo dispensed with as soon as the tunnel is com¬ pleted. for tho shafts now existing on the Comstock lode mav at onco bo connected with the tunnel by boring, which is at tho present time accomplished rapidly, and at small expense, thus draining off the water from mo shalta and permitting their con¬ nection with tho tunnel without delay. 'Second—The moment this connection is accomplished the most perfect ventilation is insured—drawing oil' the fumes of powder like a chimney would 2.000 ffet in bight, cooling the atmosphere, giving health and vigor to tho miners, and preserving the timbers. Third—The mines may thereafter bo opened by numerous stations or galleries to the whole depth of 2.900 feet, thus show¬ ing the different bodies of ore contained in trio mines, exposing many millions oi' treas¬ ure to tho eye and increasing their value iu proportion. Fourth—It will give a great impetus to the exploration of thoso mines, which have thus far been unproductive, particularly those north of tho Gould & Curry mine, and those on American Flat, which, to a largo extent, have boon lying idle on account of the groat burden of exploring an unproductive mino through perpendicular shafts. Fifth—For the reasons already stated, the extraction of oro will be so much facilitated and stimulated, that the present production of twelve or sixteen millions of bullion may bo increased to, or even be macio to exceed titty millions of dollars per annum. Sixth—Not only the pumping engines may he dispensed with, but also thoso for hoist¬ ing ; for aftor tho shafts are connected, in¬ stead of hoisting the ore to the surface, and transporting it by means of wagons or rail¬ road to tho mills 'on Carson River, at an ex¬ pense of at least three dollars per ton, it will fall down to the tunnel level by its own gravity, at no expense at all, while a rail¬ road in the tunDel, but four miles in length, can deliver the ore at tho mills on Carson River at an expense of twenty cents per ton. Seventh—By this groat saving in extrac¬ tion and transportation, and tne abolish¬ ment of all steam hoisting hunt pumping engines, which now eat up all tho profits, it will bo made possible to tJko out the mensc bodies of lorwradf ores assaying from $2 to $20 per are known to exist on the CoifW^^lode, am. 1 which may he concentrated oy means ,°f the water, which tho tunnel itsol> will furnish. Fivo hundred millions of dollars, at a low estimate, contained within this mountain, without the tunnel, will forever remain slumbering in the bowels of the earth, for the expenses of extraction, under the pres- eut system, are groater than tlic value they contain. Eighth—After the completion of tho tun¬ nel the mines may, without the use of steam engiues, be worked to great depth below the level of tho tunnel, by conducting through pipes the wator wbicli may be col¬ lected on the surfaco from molting snow anil rains, together with that contained in the mines, to hydraulic engines, or turbines, placed atllio bottom of tho shafts at the tunnel level, thus using a portion of the very water which costs so much to pump out at present, as a most economical and useful motive power to propel pumps, which raise tho water from great depths below and discharge it through the tunnel. Professor Weissbach, tho best living au¬ thority, gives tho power furnished hv fifty gallons of water per second at 1,890 horse power, at a depth of 2,000 feet—mqro power than all tho engines have now in operation upon tho Comstock lode. It may safely bo stated, therefore, that by means of tho Sutro Tunnel the Comstock lode may bo profitably worked to a depth of at least 3,500 feet—a greator depth than has yet been reached in any mine in tho world. Ninth—Whero only 2,000 men are now employed, at wages which may bo cut down at any time, aftor the completion of the Tunnel more than 10,000 would find profit- aide employment on the Comstock lode alone. The cost of mining would ho so much reduced, that those mines which now barely pay expenses would bo enabled to pay regular dividends, and allow’ liberal wages to tho men employed. Tenth—The construction of the Tunnel, giving a future to this country, would en¬ hance the value of all property, restore con¬ fidence and place the affairs of tho people on a sound aud solid basis. While the Tunnel would create a revolu¬ tion in operations on tho Comstock lodo and secure the future of these mines for fifty or a hundred years to eome, it will carry with it still more important results. 1 now approach a subject which may properly bo looked upon as tho most im¬ portant' featuro of this Tunnel enterprise. I refer to tho discovery and development of mines along the Tunnel route, granted by Act of Congress to the extent of 4,000 feet in length on every lode discovered. The proposed Tunnel will penetrate to the very centre of this great silver-bearing mountain containing tho Comstock lode, and traverses a country chiefly consisting of greenstone porphyry, a formation pro¬ nounced by Humboldt and others to be eminently productive of silver mines. it is a' fact well known to every miner, that many lodes exist which do not reach up to the surface, and which are usually dis¬ covered accidentally, while running drifts or tunnels for some other lode ; m miners’ parlanco they are called “ blind lodes,” aq expression derived from tho fact that they are not visible at the surface. Upon these blind lodes tho miner builds his hopes, they give him nervo aud perseverance to follow his toilsome labors ; their mysterious ex¬ istence, tho wealth which thoyaro presumed to contain, and the uncertainty of their pre¬ cise location, have a powerful bearing on the imagination of man, and are the levers which induce tho undertaking of tasks by evon single individuals from which they would otherwise shrink. In a mineral bearing region the hopes of discovering and opening valuable mines by running horizontal adits into a mountain are generally well founded ; but nowhere on the face of the earth do wo find a mountain range containing a vein as valuable as the Comstock lode, and a formation equally favorable for the existence of a series of mines. It is not only reasonable to sup¬ pose, but quito evident, that tbe immense quit! convulsion which rout the earth in twain, and created the fissure which is known as tho Comstock lode, at the same time must have cracked and opened the earth’s crust in many other places. These are only theories, but they are theories believod’and adopted by every sci¬ entific man, and by every common miner, and confirmed by experience. It mav, therefore, safely bo predicted, that tbe pro¬ posed Tunnel, which will penetrate to the very bowels of Mount Davidson, will dis¬ cover and open more treasure and wealth to the east aud west of the Comstock lodo than were ever before discovered by any work of this kind. Independently of the large revenue, the Tunnei Company will derive trom draining tbe Comstock lode ; from the transportation of men. ore, rock and timber; independ¬ ently of the great value of tho company’s land, and independently of any other con¬ sideration, the discovery and development. Bhalfc of the mines contained in this argentiferous belt would justify tbe construction of this Tunnel, simply as an exploring work ; and for that purpose alone it should be looked upon as -one of tho best planned, legitimate and promising mining enterprises ever un¬ dertaken in any mining district. Aud now, fellow citizens, allow me to give you a short history of my struggles in con¬ nection with this tunnnel project, and let mo expl tin to you what causes have pre¬ vented its success thus far. Ou the 4th of February 1865, the Legisla¬ ture of Nevada granted a franchise, giving mo the exclusive right of way for fifty years, for the construction of a tunnel, com¬ mencing in tho foothills near Carson River, to aacl beyond the Comstock lode. Titt charter did not specify any rates for drain¬ age or other services, but loft that open to private agreement by the mining companies. I now invited all parties who wisliod to do so, to join in the enterprise, and an asso¬ ciation was formed under tbe name and style of tho Sutro Tunnel Company, of which YVm. M. Stewart, our present Senator, was duly elected President. A proposition was submitted to the mining companies, “that the Sutro Tunnel Company would agree to raise the funds for the construction of tho tunnel abroad, in quarters where cheap cap¬ ital abounds, provided the mining compa¬ nies would agree beforehand to pay certain rates of charges for drainagoand otherwise, after tho Tunnel should be completed and actually benefit them.” When the necessity and importance of the Tunnel, and the immonse advantages, which would bo derived therefrom by tho stockholders of the mining companies, had been thoroughly explained, which, however, required a number of months, contracts drawn by some of the best lawyers of San Francisco were adopted anti signed by^ the following named companies on tho Corn- stock lode : Ophir, Ocntral, California, Wliite & Mur¬ phy, Best »r best efforts to assist you iu accom- your object. , ,, icrsevermce and tho practical an! able in which vou have presented this laud- lertaking to tho public doserves our com- ms, aud it shall be a source of gratifiea- s to see vour labors crowned with suc- ' are, dear s:r, respectfully yours, •- Moses Tay!r- nel the mines would be abandoned and ruin and desolation bo brought not only on Vir¬ ginia City, but upon tbe whole country ? Foliow-citizons 1 Have you ever been in a position where your friend* shunned you? If you have, you know how mortifying it is on’meeting an old acquaintance to have him pass by pretending not to see you, instead of shaking you by tho hand and welcoming you. Have yon noticed them cross over on the other side of the street when they saw you at a distance? Have you seen their nervous hurrv, trying to get off, when you happened to engage them m conversation ? You may possibly have made similar experiences if you were ever broke, aud your good trieuds ! wero afraid you might ask them for a loan. In my ease somo narrow-min ted people wwi ____ i ma r ),ive avoided me, thinking 1 might their “tategrUvT form a preliminary , vuf r e them to become interested in the Tun- Dlrectors, and yon may then, while the ncl project, but these were comparatively V ~* L ' f ew ; the mass of these men knew the Bank was against mo, and that was sufficient for these servile and timid creatures to insult and avoid mo. But 1 looked upon them with contempt; I had the satisfaction of feeling in my own heart that I was worl ing for a good*and noble cause; I kuew that the ex ■ edition of the work I proposed would be a blessing to tbe men compelled R toil in these mines and of great and lastiug benefit to a whole people. So I continued my ef¬ forts, believing that truth is mighty and will prevail, and that in the end my enemies must come to grief, and victory should bo mine! i concluded to givo up the field, for the timo being, ro mv opponents, return to New Yoikandgo over to Europe ifnecessary and see what could bo accomplished there. In July, 1867, 1 arrived at the former place, but soon found, that after my apparent failure to raise any funds in California, it was unless to waste my timo there. Lvi- dences that the war tbo Bank of California had commenced to wage against me ou the Pacific coast, should also extond to New York, came under my observation. On tho 16th of July, tho dav'after the Savage Com¬ pany had held their annual meoting, a tele¬ graphic message was received and a placard stuck up in the office of the agents of the Bank of California in Now York, Messrs. Lees & Waller, which stated, in largo let¬ ters, “That the stockholders of tho Savage Company, at their aurnial meeting, had refused to ratify tho subscription made by their Trustees of $150,000 to tho stock of the Sutro Tunnel Company, and that the same was utterly null and void.” This telegram was intended to caution tho people of New York against me, in case 1 should falsely represent that tho Savage Company had subscribed and ratified their subscription of $150,000. It was a sort of warning, as if sent ahead of an absconding bank clerk, or forger, or criminal, so that it would utterly ruin my prospects, and com¬ ing. as it did, trom the leading financial concern of the Pacifio coast, it certainly had its effect—it put a damper on my prospects, and I determined to make no further at¬ tempt in New York at that timo. It almost appeared to me after this, that tbe only place where I could vindicato my¬ self, and whore the importance and magni¬ tude of the proposed work would be properly approciatod, and whero, at tho same time, tlie bank would have tbe least power to mis- •epresent and fight me, would bo in Con¬ gress. But Congress was not to meet until December, and this beiug the latter part of July, 1 determined upon spending tho in¬ terval iu Europe for the purpose of oxnmin- iug tbe mines, visiting their big tunnels, consulting somo of their great engineers, in order to lay my experiences before Con¬ iine*. Willet: jet X. Wfilets. I. De Devoise, Silsbv, 8. Martin, ne 8. Balliii. T Martin, liliimau, ifi Hoinemann, •1 H. Temple, Cogbitl & do., [lhaniius & Jacksou, 1 1 Oustb, adore F. Lewis, Daly. V Appleton & Co., • Aii fermaun, Dederick, t. Greenbauw, a;. Herzog, Itaps evident that tho Fetor Cooper. Ausrust Belmont, ,T. t Wm. Seligman k Co , Eugene Kellv, it. C. Fergusson, Wui. T. Coleman, C. K. Garrison, Duncan, Sherman, Sc Co., Francis Skiddy, Johnson k Laziras, Wm B. Ogdon, J. C. Fremont, K. L Cutting, David Hoadloy, C. P. Huntington, Geo. A. FreemaD, Sinil. L. II. Barlow, M. Morgan's Sons. persons who signs- that letter, representing probably $100,C >0,001), looked upon the enterprise as too B ignitieent altogether, which created thojwspicion that something was behind the JEreecs, and they naturally wanted a subsfa ntial indorsement out here. So,'in August 1866,1 concluded to return to Sat. Francisco, in order to follow out tho suggC'-iions made iu the atoresaid letter, and 1 uhniitted the matter to tho mining comSmies and to many of the principal met 1 ® ants of San Francisco. While this question was under considera¬ tion, t io Legislature of Nevada, which was then in session, passed a memorial and re- soluti ns, asking Congress to loan its credit to th. i important work, in case sufficient capit:.' could not be secured from private sources, aud in a lengthy report set forth its rt isous why tho nation should feel a deepen teres t in its execution. Tb< question as to subscriptions to tho Tuna 1 Company by the mining companios hadi,. the meantime been fully disoussed in Sail Francisco ; and aftor somo delay a numb of companies agreed to and did subi Iribe through their trustees sums ag¬ ing together, with subscriptions from persons, about $600,000, and there •: v prospect of seeing them increased weeks to $1,000,000 or more in Ban Fra^isco alone. now commenced the tug of war, at •y moment when I was ou tho full __ to success, when everybody corn- men :d to look upon tho whole affair as sure of beiug consummated, and when ill was Jed to think that my struggles hbout over, they only fairly com¬ m¬ as at that timo that tbo California Bank tapped in, and in high conclave and ... „ -et session concluded that it was high timeSo break me up, for my efforts wero abo® to be crowned with success, substi- iuselves into my place, i eap tho fruits •burs, aud bv then - influence over the of this coast obtain the aid of .... , which the Legislature of Nevada hedTpplied for. TVs- conclave was held in San Francisco on # 6th of June 1867, the night before the Ennual election of trustees for the Ciorth Point mine; and when that election [dace, in which the former President of r:.-8 company, A. II. Barker, and their Suy riotendent, Batrerman, were turned - ut, and the bank ring took possession, a sub-■.■option to tho Tunnel of $75,000, which had previously been agreed upon by most of tlie parties interested, was voted dowu. I vtw at aglance what was up. Tlio Bank, which up to that time had warmly sup¬ ported me, had now turned against mo, and J. knew quite well that none of the subsetip- t ion* aireadv mado by the mining companies would bo ratified at thoir stockholders’ m rings. Nearly all tbo persons who had previously stood by me deserted me ; they shunned 'me on the streets and avoided mo as d 1 had an infectious disease ; every mis- crable our and hireling of that Bauk turned the cold shoulder on me—actually afraid thriv masters might bo displeased at seeing them talk to me—and for the first time I commenced to feci and appreciate tho im¬ mense, overwhelming and ramified power ihct concern wields. Men knew, as if by ma ic. that the bank was now against mo ; it scorned as if they all had been informed of it at once, aud through somo invisible powqf had received their instructions, j, became ovsideiit to mo that the ring en¬ nobled tlio opinion that their combined ..hits must soon crush me out and use me up financially, physically and mentally in such an unequal contest. But they bad got 1,1 of tho wrong man; I was not so easily be disposed of. When 1 found that these riors, alter haring signed contracts, after ,...v.ng urged aud helped mo on to ex¬ pend mine and my friends’ money, alter having induced me to labor almost dav and night for several years, which l did with zeal and enthusiasm ; I say when I ffmnd that they were determined to rob mo of my labors, I mado up my mind that , should not succeed in their efforts. I . J determined that this base, unscrupu¬ lous and mercenary combination should not cany out its purposes, and made a sacred vow fiiat 1 would carry out this work if 1 liad to dovoto tlio whole balance of my life toiJiind defend tny rights as long as tbo br«tU of life was in me. 1 Spoil found that I bad no longer any chances on this coast ; I knew that my op- pouints could easily keep those connected with them, directly and indirectly, from having anything to' do with the affair, and als knew full well that by throwing cold wm r on it, or by declaring it visionary or iniivaeticable they could prevent those not hi 1 understanding its merits from entering into it, aud those who did understand it by bullring and threatening them. And bow eagorl.Y did the empty-headed, the brainless, tiu- ignorant and the envious join in tlie chorus! Ibis same class who have opposed ev. .y groat work from time immemorial I th!- same class who opposed railroads, and -t ’.naboats, and telegrapns, und sewing muekinea! this same class who opposed and i'ougmt the Erie Canal 1 this same class who a ; : .y years ago would ask on every occasion whrifcer you expected to live long enough : j the'Pacific Railroad completed! ihie difficulties and obstacles soemod to Pv rias.- an 1 accumulate, and almost ap- I,, .ued insurmountable. How was I. to con- people of the contrary, when the most *sftil men in the country told them not ;eb the affair? And how easy was it •ni to play upon the prejudices of peo- iien I asked them to invest their : how easy was it tor them to thiow lint that nobody had any confidence out in n_. . Ti iv found no difficulty in getting tho gas and uter companies of Virginia City, aud all t c men under their influence, to tell poo, c tho town would be ruined; that it _ move down to the mouth of tbe Tuu- [bat real estate would become vaine- •tli many other groundless objections. .1 thev tell you that without the tun- Europo for securing the required funds, was supplied with letters of introduction from many of the bankers of Sail Francisco, which had been furnished me on my first journey east, among ,whicli was one from the Bank of California, signed by William C. Kalston, their cashier, and chief manager, to the Oriental Bank Coiporation of Lon¬ don, recommending me persona lly and the tunnel enterprise to their English friends as an excellent investment. This letter, how¬ ever, 1 did not of course make uso of, alter wliat had transpired, and it remains in my possession now. 1 traveled through Ireland, England, France, Belgium, Holland, Prussia, Aus¬ tria. Poland, Hungary, Bavaria, Switzer¬ land aud Italy, visited many of thoir rniucs, was received with great courtesy, ana came in contact with many of tho leading finan¬ cial. political and scientific men of Europe. I descended into their deepest mines—the deepest in tho world—and after all my in¬ vestigations became more and more con¬ vinced of two things: 1st, That mineral lodes, true fissure veins, as shown by all experience, descend downward indefinitely ; and, 2d, That in order to work mines ration¬ ally and profitably, wherever the topo¬ graphy of the country fdlows it, great dis¬ trict or main tunnels* which serve as high¬ ways under the mountains, must be structed. I entered into correspondence and had personal interviews with such men as Von Cotta, tho geologist; Weissbach, tho en¬ gineer ; baron von Beust of Saxony; Cheva¬ lier, the French senator and political econo¬ mist ; Sir Roderick Murchison, President of the Loudon Geographical Society; John Stuart Mill, member of Parliament; Von Dechens, tlie friend of Humboldt; Baron von Hingenau, chief of the mining depart¬ ment of Austria; Burldiardt, Koch and many others. I submitted my plans to these men, and they unanimously agreed upon the importance, feasibility, and mag¬ nificence of tho undertaking, and addressed to me many complimentary letters. I found it impossible, however, to raiso any funds in Europe for several reasons In'the first place, people there us a general thing have no confidence in our mining iu.ws, as far as security of property is con¬ cerned ; secondly, they raised the same objection which was raised in New York, that onr own people on the spot must first show thoir confidence by their subscrip¬ tions and by commencing work; and, thirdly, i ,t that particular time, if there had been 'no other obstacle in tiio way, threatening attitude between France and Prussia would have prevonted the consum¬ mation of any extensive financial operation abroad. 1 found hut one concern, the house of Erlanger & Co , tho great bankers of Paris, who were willing to entertain the project at all ; but after sending for one of their Lon¬ don partners, they also concluded it to be impossible to carry out tbe affair at that time. So I returned again to the United States, and left Liverpool on tho 1st of December 1867, arriving at Washington just after Con¬ gress had met. 1 now commenced to go to work iu good earnest, made the favor¬ able acquaintance of nearly all tbe mem¬ bers of both houses of Congress, and tbe loading men of the nation, aDd had a fine prospect of success. It soon became known to tho Bank out here, through information derived from their spies in Washington, who kept close watch of my doings, that the chances of obtaining a loan from the Government were good, which made them leel quite uneasy, and they immediately sent a number of telegrams to different‘persons in Washing¬ ton, one of which reads as follows : VntGiittA, Nevada, January 15, 1868. Received at Willard's Hotal, Washington, D. C , January 1C, 1868. To Hon. Win. M. .Stfunrt and Jas H\ Sye : Wo are opposed to tj 5 Sutro Tunnel project, aud desire it def< ated if possible. (Signed.) WM. SHARON, CHARLES BONNER, Supermtendsnt Savage Company; B. F. SHERWOOD, President Central Company; JOHN B. WINTERS, President Yellow Jacket Company; JOHN P. JONES, Superintendent Ken tuck Company; J. W. MACKEY. Superintendent Bullion Company; THOS. G. TAYLOR, Pre-ident Alpha, and Stipe.-inrendentCrown Point ‘ and Be“t and Belcher Companies; P. A. TBI1LE, President Belcher Coni pan /; ISAAC L. liEQOA. Superintendent ChoUar-Potos'i Company. This telegram was meant to read as fol¬ lows : “Wo aro opposed to Sutro getting an appropriation for tho Sutro Tunnel; de¬ feat him if possible ; that will use him up, and we, Wm. Sharon A Co., will then step in ancl get it.” As a manor of justice, 1 will here state that theSuperintoimont i who 1 this document, could not well have id ife and I believe mat somo oT thorn are warm iriouds of the Tunnel en¬ terprise. It was shorn- accident that 1 got hold of this telegram ; bow many were *out, together vir 1 letters and secret instructions, is impossible for me to tell. I may state, however, that the ve:y next day tivo more messages arrived in Washington, signed by a number of Mining Presidents of Sail Francisco, nearly all well-known tools and iluukevs of the Bank, one of which was ad¬ dressed to John Holiness, whilom Senator from California, who, in his eagornoss to serve his masters, did not hesitate to open¬ ly oppose me. They took so deep an interest iu iny af¬ fairs that they expouded over $10 ) in two days 1 far those telegraphic messages, while tbe information they contained could have boon conveyed in a letter, more fully, at an expense of three cents. These telegrams I paid but little attention to. The Bank may be a big concern hero : at Washington it amounts to but precious little. Whether our Senators were much influenced thereby is hard to tell. I aeketl no favors from them, and started out to niako my own light. About this time I published a book of about 250 pages, a copy of which 1 hold iu my band, containing much information about these mines and others ; about the interest Government should feel in the pro¬ duction of precious metals, and distributed 1,000 copies among the Members of Con¬ gress, the leading men of the country and the principal newspapers. By getting tho book up in elegant stylo. Senators and Con¬ gressmen kept it on their centre-tables, in¬ stead of condemning it to their paper bas¬ kets, as is done with many of the ordinary documents sent to them', and if they did not read it at once themselves, thoir friends did, who, while waiting to got Fodoral ap poiutments, had not much to do, and ulti¬ mately called their attention to it. 1 can best give you an idea of the general argument used in the work by reading to ou its introductory, which is as follows : Tno development of the mineral resources of thi3 country forms a subject ot such grave im¬ portance, one involving considerations of a po- litico-ecoaoruical nature of such significant con¬ sequences, that it well behooves tbe American statesman, the patriot who has the futare of this great republic at heart, to devote >odictime to the earnest examination oi those questions which have a vital bearing upon the future wehare of this country. In the vast regions stretching from the Mis eisvi; pi River to the broad Pacific oeeau, from the confines of Mexico to the icy regions of tin- north, tboro lie buried in the bowels of tho earth incalculable treasures of tbe precious metals, which but await the industrious application 01 the hardy miner aud tlio fostering care of a provid“nt government to pour out a stream of gold and silver, which will so much increase tho national wealth, augment the resources of the nation, and spread welfare and prosperity throughout the extent of this vast land, that the burdens of taxation will gradually disappear, and make tho Datiou.il debt sink im-o insignificance. If we contemplate that miybtv interest, which can be made to create so many blessings, aud flud that it is neglected and doeliulng from year to year, we must arrive at the firm conclusion that there is something radically wrong In our present system of miuiug, and tbnt mi imme¬ diate, practical aud effectual remedy should be applied to rescue from a steady decline and eventual abandonment a source of wealth which must be eousidored tbe most fruitiul and Im¬ portant ono this nation possesses. If tho facts presented in tho following pages are oirefully examined, three prominent conclu¬ sions will be arrived at: 1st. That the main wealth of the mineral regions is contained in quartz loaes, the princi¬ pal treasures of which aro found at great depths beneath tho surface. 2d. That the present mode of mining down¬ wards from the surface is detrimental to the prosperity of the mining interests. 3d. Thai a system of deep tuuncling should be inaugurated, which will make mining protii- able by giving a natural outlot to the flow of wator, by vemilating the mines, by cooling the atmosphere, and by facilitating the extraction of abundance, but not for investment in milling enterprises, wtiich are looked upon with suspi¬ cion, and arc almost considered disreputable. Some years ago many persons were found quite willing to embark in mining ventures, and con¬ siderable Mims were invested; but the experi¬ ences mado have been disastrous aud ruinous to those concerned, in almost every instance. This result has been charged to various causes, but the true one must be sought iu the uuv.-ise, ex¬ travagant and wasteful manner in which the work on the mines has been performed. The construction of deep tunnels, which by all authorities are admitted to be absolutely neces¬ sary to make mining operations successful, re¬ quires time, and the outlay of large amounts of capital, and consequently implicit confidence iu the permanency 01 the mines. It is the lack of confidence in the permanency of the mines (their downward exteut to great depth not having practically been demonstrated iu tbe United States,) which prevents the execu¬ tion of such works. The Comstock lode, the most productive of all mineral Jodes In tbo world, producing as muoh silver as the whole republic of Mexico, pre*ents the most extraordinary example, illustrating the ruinous and wasteful manner of our present sys¬ tem of mining. AVo have a lode here which has produced within tho last six years over $75,000,- 000, and the whole of that enormous sum has been swallowed up by the expenses of producing it! The mines upon this lode have now reached such a depth that, altera few years, they must Inevitably be abandoned, provided a deep tunnel be not constructed. Great mineral lodes, true fissure veins, accord¬ ing to experiences made in older i-ouairies, ex¬ tend downward indefinitely; wo have the testi¬ mony of some of the first scientific men living, that tho Comstock lode bears the slrong-st evi¬ dences of being a true fi«sure vein. Here, then, we have a remarkable state of affau-s; a lode yielding $16,000,000 per annum, almost the whole amount being absorbed by tlie expenses of producing it, while th'- construction of a deep tunnel, for which extraordinary facili-- - ties exist, would leave a large portion of that amount as a profit; the downward continuance of the lode is theoretically, at the same time con¬ clusively, proven, aud still wo find thatcapitalists cannot be found to undertake the construction of a deep tunnel, because the ores at great depth are not actually visible. Were that tunnel competed to-day, a glorious reality, pouring out a silver stream of $40,000,000 $ 50 , 000,000 per annum, these same capitalists, _to first want to eyo the riches way down 111 Un¬ earth before they consent to invest, would be eager to enter into similar undertakings in all parts of the mining regions,-»nd tunneling would become tbe order ot the day. The nation would be enriched beyond all expectation, and the benefits to the Government and the people would be in¬ calculable. That it is both the duty and the interest of the Government to aid in the cou-Truelion of one such tunuel to serve as an index work, aud there¬ by establish the continuance cf mineral loaes to depth, cannot admit of any doubt The most favorable opportunity lor such a demonstration presents itself iutho constructive ihe proposed umnel to the Comstock lodo; the Government may consistently extend its credit to that work, for almost no risk is involved, tho security offered being a hundred-told. A simple investigation of the subject will prow this conclusivelv. Mtmo thirty years ago akimffar question aro*- in Saxony, when Baron von Herder, theta Clttet of the Mining Department, as an introductory to to a book on the subject, addressed his country¬ men in the fallowing words: _ _ , . >• To the friends of their country do I dedicate the plan of a naming work, the execution oi which is ot tbe highest importance to the mining interests of Saxony. “ It is the plan to drive a deep tunnel from the level of the Elbe, near Meissen, to the neighbor¬ hood of Freiberg, in order to drain the water trom tho mines of that district to a much greater deotn than heretofore, and by means thereof to secure their existence for centuries to come; a plan which as to magnitude, time and cost, ia THE SUTRO TUNNEL ANdItHE BA NK OF CALIFORNIA. large and gigantic, but which appears in its effects and result': so beuevolent and lull of blessing*, that the question as to cost should not form an obstacle to its execution. . “It istr-e that the rceour es of the mining treasury of the Freiberg District aro too limited to bear these expenses; but tbe execution of a work which iu tunes to come will be classes ui the list of those great national monutnouts which have for their object the lasting wcllare of a country, and which will secure the same for the latest generations and times, eannet be left to the mercy ot a single mining district, but should be looked upon us a work creating happiness and glorv, and worthy of the participation and pro¬ motion of the entire nation. •* With unlimited confidence do I thereiore present to the friends of their country the tol- 1 awing explanation and statement of this project. “ May they extend to it a wise and sjmpailiiz- ing examination and magnanimous considera¬ tion, ind may they be assured o:' the fervant thanks, which posterity will grant them The mines ot Saxony produced, and r.ovy pro¬ duce but a mite of what our mines do; the na¬ tional debt of that country is but small, and the burdens of taxation ai-e not of an onerous char¬ acter. How much stronger then should tbe argument be iu the case at issue! a country containing more mines and richer mines than all the balance of the world combined; a country having a na¬ tional debt amounting to over $t!,500,000,0t0, and a peoplo crying out and groaning under uu- equalled huraens of taxation ! Wisdom and foresight point out but one course: let tue mineral resources of the country go to ruin, aud the national debt, the burdens of taxa¬ tion, and general suffering will be increased from year to year. , , I,et our immense mineral resources be devel¬ oped, an increase in the value of all property, a relief or the burdens of taxation, unparalleled utivaucemeut of commerce, industry aud traffic, a bright roture, speedy resumption of specie pay¬ ments, and general welfare and prosperity will be the results. Those who rule the destinies of this country have the solution of this question in their hands; wisdom, foresight, liberality, aud true patriotism will grasp the issue, and promptly secure those teBUlts which will immensely benefit our present generation, and extend its blessings to posterity. The Committee on Mines and Mining, fully appreciating the impotus which would be given to the development of our great mineral resources by the construction of this Tunnel, after a most thorough investi¬ gation. perfected a bill recommending a loan of $.>,000,000, in twenty-years seven per cent, bonds, to bo delivered at the rate of $15,000 for every 100 feet of tunnel com¬ pleted. To show how thoroughly this com¬ mittee understood the importance of the proposed work, I will hero give an extract from their oflicial report, published by order of the House of Representatives, in which thoy say : lour committee considers the execution of one great milling work, such as the proposed Tunnel to the Comstock lode, as couducivo to (ho moat beneficial results; It would practically demon¬ strate the continuance of mineral lodes in depth, thereby establishing confidence in the execution of similar works m all the mining districts. Writers ou mining agree on the importance of general drain tunnels, and the best proof of thoir utility iB shown by the fact that in those mining districts where a general and extensive system of drainage by tunnels has been adopted, the mines have been kept in a flourishing condition during hundreds of yeuis, while in those piacos where no tunnels have been made, mining opera¬ tions have proved unprofitable, and the mines have been abandoned. Wc find in all mining codes provisions for the construction of tunnel...; thoy were, iu olden limes, called the “keys of the mountains,” and under the laws of Spain, Belgium, Prussia, Austria, Hungary, Saxony, Hanover and other countries, compulsory payments, towards the support of drain tunnels, were exacted from the mine owners, iu order to keep up tho mining districts. Gamboa, the great expounder of Spanish min¬ ing law, iu soeakiua of the neglect of the.Justices to enforce the construction of tunnels, sayB: By indulging In this neglect of their duly they do in¬ justice to the public, to Individuals, and to the rights of die sovereign, who has inada it a law, that tho working ol' the mines shall b« assisted by moans of tumieis, us being works of great importance, and necessary for giving a permanent character to this valuable descrip¬ tion of properly. General drain tunnels are important in many regards; they not oDly provido the cheapest and sufest means of drainage, ventilation, extraction and discovery of ere, but they accomplish tho great and very important result of consolidating the difi’etent interests in a mining district, by establishing one general base of operations. as mines aro workod now, the proprietors, or companies, on a mmtral lode—no matter how limited tbe extent of their claim*.—each, inde¬ pendently of their neighbors, erect a steam en¬ gine, pump the water from their mine, hoist (he ore, aud transport it to the reduction works; they boast cf independent organizations, presidents, boards of trustees, superintendents, secretaries, etc., etc., kept up at an onormous expense, which makes mining unprofitable and a losing business. In large, cities we find it necessary to establish a joint system of drainage, gas and water works. Main sewers aro constructed, into which small branches enter from every building. Supposing each house owner were to provide his own drain¬ age, independent of his neighbors, establish his own gas manufactory, aud dig a canal of his own from a distant epriug in order to get a supply of water, the world would pronounce such proceed¬ ing very unwise and foolish. And still we find a similar state of affairs in our great mineral districts; a contiguous row of mines on the same lode, each worked independ¬ ently and entirely reganless of its neighbors, while one general tunnel, or adit, or drain would allow the waler to run off by its natural flow to the lowest level, from all the mines, through one conmm outlet, theroby abolishing at once all pumping machinery, giving one common railroad for the trausp nation of all the ore, and creating innumerable advantages. Only one general mining administration would be required, opera¬ tions could be carried ou jointly and systemati¬ cally, the extraction of ore largely increased, the health of the miners secured by good ventilation, and large sums of money would be saved, thereby making it possible to extract immense bodies of low grade ores, Iu short, instead of an unwise, shortsighted, ruinous and stupid manner of proceeding, wo would inaugurate a rational system of mining, a system which would make it profitable, attract the capital which is absolutely necessary for tbe development ot this branch of industry, increase tho production of the precious metals bpyoud all expectations, populate the vast extent of our mineral regions, procure traffl; for our trans- ooutiuentnl railways, stimulate the commerce and industry of the whole natioii, firmly estab¬ lish our credit by proving the extent of our min¬ eral wealth, and, above ali, lelieve the burdens of taxation by increasing the valnc of all property. Such aro some of the advantages which, in oar opinion, would be derived from the adoption of a genontl system of tunneling in our great mining districts, and it must appear remarkable that such tunnols, tbeir advantages being so self-evi¬ dent, have not alroady been constructed In nu luerous places. The measure grew more and more popu¬ lar, in spite of the secrot efforts of tho Cali fornia Bank, and would no doubt have passed with a three-quarter vote of tho llouso, had it been possible to roach tho Committeo on Mines and Mining regular order of business. Unfortunately, when we were almost within reach of the bill, tho Impeachment trial of Andrew Johnson commence!, and before its weary length was terminated, it was so late in the session that our commit¬ tee never was reached at all, and conse¬ quently the Tunnel bill had to go over. Congress adjourned late in July last year, and 1 returned to California somewhat dis¬ gusted with my ill luck, but never for a moment losing my confidence in ultimate success. Before 1 left Washington many lotlers wore addressed to mo by members of Congress, expressing thoir regret at my bill not having been reached, and giving it as Their opinion that at the next session it would certainly pass. Amongst these was one from Thaddeus Stevens, one of the vory best friends the measure had, who stated that at the next session he would warmly support it; but tho old man did not live to see another session; tio died within a fort¬ night. Alter spending a few weeks at New York I returned again to California, lrom whence, after remaining a couple of months, I once more proceeded to Washington to renew my efforts. In the. meantime Gen. Grant had been elected President of the United .States, and the misunderstanding which existed be¬ tween him and Androw Johnson prevented aay special legislation, which, a? was sta¬ ted, might embarrass tho former’s adminis¬ tration. So Congress concluded to enter into n > legislation whatever with tbe exception of tho passage of some appropriation bills necessary for the support of the Govern¬ ment, and thus tbe Fortieth Congross ex¬ pired without acting on my bill. The new Congress convened on the 4th of March last, under good auspices, aud Gen. Grant, in his inaugural, referring to tho payment of the National Debt, alludes to the importance of developing our vast min¬ eral resources, aud speaks of the treasure- chest which Providence has provided us, buried in our Western mountains, (tor which we must forge the key now to unlock. After a short session of a few weeks, Con¬ gress sdjournod until next December, when, for the firm time. I expect to get a fair chance to bring my bill up and have it thoroughly discussed. 1 have but little doubt but that, notwith¬ standing the groat efforts the California Bank will make to control the action of both our Senators, thev will firmly stand by tho people, and use all their influence for the aecomnlisbmont of this great work. la the meantime I have come out here among you, my fellow citizons, in order to explain to you all about this Tunnel busi¬ ness, and while some of the moneyed men of San Franc isco look upon the whole thing as a failure, not knowing anything of its history, nor of tbe great fight of the Culi- tornia Bank ring against it, and which erroneous opinions also many of you enter¬ tained, I have more confidence m its suc¬ cess now than ever. Fellow citizens 1 x have come among you to propose to tho working people of Nevada to join in together in order to start work ou tho Tuuiifcl itself, and thereby give me that solid indorsement at home, from those who live on tho very spot, from the men who work in these very mines, and who are ^bp- posed to know most about it, which 1 have lately son"ht in vain from tbe mining com¬ panies and from tho people who should be mos; deeply interested. Your solid indorse¬ ment will be valued highly at Washington; it will annihilate the efforts of that schem¬ ing combination, the California Bank. Fellow citizens 1 It must now bo evident to you that tho arch enemy of this great work is that hydra-hoaded monster you have reared in your midst, and allowed to grow into gigantic proportions; that enemy of the welfare of the whole Pacific coast, that incubus upon your prosperity, that crafty concern which resorts to overy means to carry out its ends! And why do they op¬ pose the Tunnel V Why do thoy all in their power of cunning, and scheming, and plan¬ ing to defeat it ? Why are all their satellites and hirelings told they must defeat and oppose the Tunnel project with all their might and power, by fair aud by foul means V Why do they threaten to dischargo thoir employes if they take a hand in it ? And why aro they compelled to do all this in tho darkness of night? Why is it they dare not make their motives known V Fellow citizens 1 Lot me onlighton you. Allow mo to jiiorco that darkuc-ss and let in a ray of daylight; let me explain to yon why these men so bitterly oppose a work which in thorn, the ostensible owners of the Comstock lode, should find the strongest advocates; let me show to you why thoy have turned to bo the guardians of the treasury at Washington; let me tell yon why they tremblo with fear lest work on the Tunnel bo started; let me explain to you why they make you work in a foul atmos¬ phere, which sends half of you to your gravos in the prime of manhood; let mo show you why they havo allowed forty-two of your miners to be foully raurdorod at tho fire of tho Gold Hill mines for tho want of an exit through the 'Tunnel; and let mo show them to you in their true colors, and then hold thorn up to the shame, contempt, and ignominy thoy so richly deserve. In order to do so I muBt eutor into ttie details of some of the operations of this clique which rules and controls these mines, and apparently are the absolute owners of a controlling interest in this vast and im¬ portant property, v Many of you will Bb utterly astonished to learn that* neither the Bank nor the mill ring, as a general thing, own more than a few shares in each mine—just about enough to bo elected trustees or' the companies, while you, the miners and residents of Vir¬ ginia City do always own a large amount of stock, and sometimes a controlling in¬ terest ia many of these mines. I do not wish to say that the Bank ring has not at different times owned large amounts of stock for a number of month3, but that was only in such mines as the Savage aud Kcn- tuck, for instance, during the years 18G7 and 1868, as were then in a magnificent condition, and paying large and regular dividends. But yon will say, how is it pos¬ sible that they can control the elections, put ia men of their own ring as trustees, and manage and manfpulato these mines as they pieaso, to further their own ends, if they do not own any stock ? That is precisely where the secret lies, and wbero the jiublic gets gulled, and swindled, and humbugged, and allows this clique by sharp practice to carryout its nefarious schemes. You all know that there is an institution iSan Francisco, called tne Bank of Cali¬ fornia ; they have a branch house in Vir¬ ginia City, over which William Sharon pre¬ sides. The principle upon which that concern is earned on ia to get deposits from as many people, and in as largo amounts, and from as many quarters as possible; that is where thoir power lies! Their capi¬ tal stock is $5,000,000, with which they do a business of many millions more. They loan out a great deal of money; whether they loan out any of their depositors’ money wo don’t know ; but they loan out a great deal; they loan a great deal to thoir individual members, who are ongaged in extensive speculations; some of them pay, but a great many do not; that money is scattered all over creation, and whether it is probable that they could pay all thoy owe, should thoy be called upon, I doubt very much. Money m a good iron safe, or deposited in some of the solid banks of San Francisco, might bo a great deal securer. I shall, however, revert to this more in detail on somo future occasion. Amongst other things, they loan money on mining stocks ; the Virginia agent keeps Iho San Francisco bank well posted on the value of oich particular mine, and on the special manipulation going on in it; daily telegrams and letters aro sent on the re¬ ports of special experts kept for that pur¬ pose. This information, which is withheld with tho utmost secresy from tho public, enables the San Francisco concern to ad- vanca money on stocks and to brokers, with¬ out much risk, while no other bank or moneyed institution dare touch it. Now let us see how this operates : all men who deal in thoao stocks aro more or less of a gambling disposition; thoy put in a littlo money and want to mako a great deal; thoy almost always go beyond their means ; they buy a certain number of shares, carry them to 'their broker, or to the Bank of Califor¬ nia, borrow as much raonov as thoy can get loaned on thorn, in ordor to’ onablo them to buy more, and aro compelled to transfer thoir shares, not to tho bank, for that would mako it responsible for any debts which might be contracted by the mining com¬ panies, but to one of their irresponsible clerks, A. E. Hill for instance, whose nimo figures quite extensively in the delinquent lists, and whoso name only stands for that of so many miners or other individuals. Thus that bank clerk ha3 a largo amount of stock standing iu Ins name, without owning a share, and no outsider kuows whose stock it is. This is one way the bank obtains control of a largo amount of stock both at 8an Francisco and at Virginia ; but by far tho greatest part comes under their control m a still easier way. Most of you miners aud others, who speculate in stocks, go to a broker, deposit your money and get him to telegraph to his partner in San Francisco for a given number of shares in a certain mine ; tho purchaser here novor sees that stock; it is issued in the name of th< ker, for to issue it iu the name of thi^^ chaser causes delay, inconveniencoor mouse. There is no guess work aboni t, it is a sure thing. There is still another item connect®! those mines which is worth while lo after. Tbe parties managing them of c have control of the funds of these coni and the handling of a million of dollars or more, year in and year out, is an item not to be despised. If tbe ring is hard up. as is the case now, why it is au easy matter to slap on an assessment of a quarter of a mil¬ lion or so, and thus mako the people come to tho rescue of tbeir empty cash-box! These great financiers, who havo under¬ taken to regulate the money affairs ot tins coast,.with all their scheming, aud notwith¬ standing tho immense sums thoy have filched out of tbe people, havo arrived at a point where bankruptcy stares them in tho face! Tho California Bank, with a capital of $5,000,000 and a surplus of $2,OOO,OU0, cannot loan out a dollar to any o::o at the present time. What have they done with all this money? Wbete is it? If they are solvent why can’t they uccommodr the public now* when it is most, needed ? They have kept out greenbacks in order io pre¬ vent Eastern capital Horn coming here, ami now reap the fruits of tbeir folly. While tbev have ruined themselves, they havo brought untold hardships unto this peoplo iu the present crisis. Their last bearing operation has recoiled upon themselves; stocks aDd all properly have gone down be¬ yond their control, for they did not have the sagacity to foresee that tho bubble which had boen growing for the last six years, in anticipation of the Pacific Railroad being finished, would burst in the act of driving the last spike! They fondly hoped that Eastern peoplo would flock out here with fall monev bags and invest at tho inflated pricos. 1'hey did come, and saw at a glance tho game which was put up for them, and declared they would come back in another year and invest at twenty cents on the dol¬ lar, when they were all broko out here. So 'much for their financial capacity! But tho ring, not yet satisfied with all these manipulations, and with an unsatiated desire to draw the very last drop of life blood from the people.’ has lately entered into another scheme of pilfer. I refer to the Virginia and Truckee Railroad. Not satisfied with controling the mines ; not sat¬ isfied with owning the mills ; not satisfied with all the plunder obtained before, they came to the conclusion that a railroad to the Carson River, where their mills are mostly located, would be a good thing. Tbev not only thought that by owning such a ro’ad they could drive all tho teamsters out of the country, and thus squeeze two or throe dollars additional ont, of every ton or ore transported over their road, but they also expected to monopolize all tbe wood and timber trade, and charge whatever price thev please to the mining companies. But while they were accomplishing all this, and opening up a new sourco for plunder, their great motive for gettiug up this railroad scheme was that they expected thereby to kill the Tunnel project, at least for somo time to come. Of course they could not pretond that a railroad to Carson River would drain or ventilate the mines, or abol¬ ish tho steam engines, or explore the whole country, but they did falsely pretend that all the low grade ores could be extracted, and with the increased facilities for trans¬ portation, reduced to advantage. If they did not expect to make people altogether believe that the railroad would bo a substi¬ tute for the Tunnel, they aid at least expect that this threatening Tunnel question would be postponed thereby For aaother year or two, with so much additional ’chances of seeing me used up by that time. But to build a railroad costs money; and being accustomed to obtain whatever their heart desires from the people, they con¬ cluded to own a railroad and Have the dear people pay for it. Being tho Trustees of the mining compa¬ nies, it was au easy matter to subscribe to themselves such amounts as the stockhold¬ ers would possibly stand—some of the mines levying assessments in order to raise the money. Thus, about $500,000 were contrib¬ uted,’for which the Trustees, before long, will be hold responsible, as an act ou thoir part entirely unwarranted and illegal. But this amount was not sufficient to build the road ; so it was concluded to get the Legis¬ lature to come to the rescue. Bills were passed-God only knows how—aud Storey, Ormshy and Lyon counties were compelled to give and make a present to the ring of bonds amounting to $575,000. The people were misled in tho first instance by the false title of the Virginia and' Truckee Rail¬ road, and in their anxiety to obtain a con¬ nection with the Central ’Pacific, which lies north of Virginia City, they overlooked that the bill passed by the Legislature was for a road to Carson River, in tho opposite direc¬ tion. Was there over such a swindle perpe¬ trated before on any people ? Every man ancl woman in these throe counties compelled to contribute their hard earnings to meet the interest and principal, amounting to over a million of dollars, and which will ultimately llow up all your private property, foi¬ ls issued to" a railroad which will not _ne particle of benefit to the people, but only to a clique of men, tho self-constituted rulers of ihe people. But whom the Gods wish to destroy, they first mako mad! That railroad business was too much tor the peo¬ ple ; it has opened their eyes, and tho rem¬ edy will bo found ; they’will assert their rights and throw off the yoke of their op¬ pressors. Steps should immediately be taken to pre¬ vent the issuanco ot' these bonds ; tho law is clearly unconstitutional, and no Court in this State will dare to sustain it. If the Legislature had the right to compel you to give away $300,000, why they would have the same right to compel you to givo$3,000,- 000; they would havo the same right to take all you possess. Tho thing is too ab¬ surd to require any argument. Stop the payment ot those bonds, and you compel the ring to finish the railroad from their own means, if they have any; then start the Tunnel going and you will break them up altogether, for thoy will not be able to sell ont their railroad stock, as they ex¬ pected to do by next spring, by running im¬ mense quantities of low grade ores down to trie mills, aud thus make a big showiag as to the profits of the road ; in making that showing they exported you to foot the bills, by paying assessments to mako up the loss sustained in working rock, which must run the mines in debt Fellow-citizens! Do you commence to un¬ derstand why this ring oppose the con¬ struction of tbe Tunnel? Tbey have thus far had things their own way aud have, with a high hand, grasped and taken everything worth haring in the State of Novada ; they, like tho devil fish, havo reached out their long, slimy arms and taken hold of every¬ thing within reach, and nothing can escape its deathly grip. Do you think for a moment, that they would allow so valuable a prop¬ erty as that of tho Sutro Tunnel Company, to escape their notice'? Do you suppose that this cliquo whose ideas of mkio and thine are very confused, would not go i » every exertion to obtain so great a prize by intrigue, machinations and scheming ? Do you suppose they would allow a superior power to spring up in their very stronghold, and not mako every effort to destroy it? And do you believe that they would allow it to grow at all. but that they would nip it in the very bud'? The Tunnel they know full well, is the key to this mountain ’and these mines, and will and must control and own this whole dis¬ trict; if that Tunnel is constructed by third parties, their monopoly will ne utterly broken up and ended! They could then no longer bull and bear stock, manipulate the mines and mills, and their railroad would be of but little use. Now, what coarse have they pursued to defeat the construction of the Tunnel .- Have they opposed it openly? By no means. They considered that the projector with limited means, not being able io c.ipe long against so gigantic a monopoly would soon succumb, aud worried and defeated would be compelled to turn over his valua¬ ble franchises and property into their hands, together with the chances for an appropria¬ tion from Congress, which they expected to obtain through tbeir political friends with- i ont much trouble. . Tbey have, however, this timo boen mis¬ taken ; they expected me to give up in dis¬ gust iu less than six months after their re¬ lentless warfare commenced, and I have successfully stood up against tbat over¬ whelming power for several years, and have not been quite crushed out yet. Will the people of Nevada see me crushed out now? Will they allow tbat monstrous combination to trample me under tbeir foot? Will a chivalrous peoplo allow one individ¬ ual to be set upon by a whole jiack of hounds ? Will you see fair play when one man has the pluck to stand up against a crowd? Will >on come to the rescue when I appeal io yon, in my endeavors to carry ont a great aud good work? I believe 1 need not make the appeal, for l know you will. Laboring men of Nevada! Shake off the yoke of slavery and assert your manhood! The «:ano power which has thus far deioated tho Tunnel project is crushing you down into the dust; they threaten to take your bread and butter from you if you subscribe to the Tunnel stock ; but you must act jointly and there lies your power. If you will all come in together, they dare not dis¬ charge you; let 3,000 laboring men pay in an average of $10 per month, which gives you $30,000 per mouth or $360,000 per an¬ num, and insures the construction of the Tunnel, carrying with it the oworship of the mines. That amounts to 33 cents per day ‘ Who is there among you so poor us to mis.* it? llow many of you expend that much every day in stimulants, cigars aud other luxuries ? Put that money into the Tunnel; it is laying up something for a many clay. Tho money will bo expended directly again in labor amongst yourselves under your own direction, and from dependents you will be¬ come musters. It will be the most glorious triumph of labor over capital! it would lie realizing tbo wildest dreams of the French Socialists, Proudhon, Le Blanc and others, who havo iu vain tried in Europe to bring about just such results! The masses there do not possess the intelligence vou do, nor was there ever such a chance offered to the people! Show your superiority here and act jiromptly ! Set an oxample to the world, demonstrating what can bo doue by joint action. Do not listen to your enemies! They havo vile, tuiserablo runners among you who will try to poison your minds; they will try overy means iu their power to pre¬ vent you from entoring into so magnificent a project, which will make you masters of the situation and leave your opponents out in the cold. They will argue with you and declare it not feasible; they will pronounce tho whole scheme chimerical ; they will toll you that you are wasting your money and Ihat it will bo misapplied ; ’they will say to you that the whole thing is a swindle. Working men of Nevada ! Men who talk to you in that way are hired by tho Bank ot California I Thoy are traitors in your ranks! They are your base enemies, who have sold their honor, and want to sell yours for so many dollars and cents 1 There may be some among you who do not fully under¬ stand the results which will flow from the work ; let the most intelligent ones make it their duty to enlighten them. Laboring men of Nevada I Crush out that hydra-headed monster, that serpent in your miust, tho Bank of California! By forming this great co-operative association labor and capital will be linked together 1 Your power will be unlimited! No more hireling politicians will bo thrush ujion you in order to misrepresent your interests ; you will be a great political power, and will rule the destinies of this State ; everybody will bow down to you; you will be the mas¬ ters of the land ; tho newspapers will advo¬ cate your cause ; and from a state of utter dependency, from n state in which you are fearful from day to day to loose the means of your very subsistence, you will pass over, for the first time, into a true state of inde¬ pendence. Fellow-citizens 1 Were there a foreign en¬ emy at your doors, who had come to crush out your liberties* break up your govern¬ ment, and with a mgh hand rule over you, vho is there amon)^aagM[o would not sac- ilice his life, his ffl|flPPIand pledge him¬ self upon Ins sacrAl h" ur to crush out and defeat so vile an epemy ? Who is there cow¬ ard enough to stand back and not defend his home and hearth ? None, 1 dare say. And still that enemy is in your midst! You allow and havo allowed him to exist amongst you until he has gradually stolen your lib¬ erties, robbed you of your fortunes, and prevented the administration of justice. Trifling were the encroachments committed by England upon her American Colonies when they rose up in tbeir might, threw off' tho yoke and formed theso United States, compared to tho indignities which aro daily heaped upon you! What has become of justice? What protection have you any longer in the possession of your property ? The enemy who has spun uis web around you until you are almost helpless, has bribed your judges, packed your juries, hired fa’lso witnesses, bought Legislatures, elected representatives to defend thoir in¬ iquity. imposed taxes upon you for tbeir private benefit, -outraged common decency, and now dare you to expose or oppose them ! Has it come to pass that a tree com¬ munity of this great American nation has degenerated into a set of miserable cow¬ ards ? I believe not; the enemy has stolon in among you stealthily and gradually ; he has enslaved yon without your knowledge ; lie has crept in while you were asleep. ltnuse up then, fellow-citizens I You have no Andrew Jackson among you to crush out the bank, which has taken your liberties, but yon have the power witlnn yourselves ! I do*not mean to incite you to any violence ; I do not mean to have you assert your rights by riot, force and threats. That would be*unwise, unnecessary, and would only recoil upon yourselves. But 1 do mean to say that you cau destroy your enemy by simple concort of action. ’Let all of "you join in together to build the Sutro Tunnel; that is the way to reach them. They do already tremble lest you will act; they know you will form a great moneyed power, and that you will own the mines ; they know it will cement you toget her. Thoy also'know full well that tho first pick struck into the Sutro Tunnel will be the first pick into their graves; and they also know that the same stroke of that first pick will be the signal for a new era, which will dawn upon the working people of Ne¬ vada. FeHow-citizen ! You are poor and cannot, squander any money; the vampires havo nearly sucked you dry ; but tho Tunnel stock is a good investment; tbe shares arc ttnas- fic-ssuble forever, so as to protect tbe poor tnen ; ono share is as secure as a thousand. The Tunnel Company owns a princely do¬ main ; thousands of lots will be sold in the new town ; we own the most valuable min¬ ing grant in tho whole world; all the mining companies arc compelled to pay tribute, amounting to millions of dollars per annum. In buying a share in the concern you abso¬ lutely own it; nobody can ever assess you one cent; you own your share in all tbe property ot the company now has, or will ever possess; you will own vour share in any appropriations the Government will ever make. Some of you will say you are not going to stay long in the country ; that makes no difference; it is a good in¬ vestment, no matter what part of tbe world you are in; you pay $5 and get an interest, or a share of $10 in the company. When tbe tunnel is once finished and probably long before, tbo com¬ pany's income will be immense ; it will prob¬ ably declare, dividends sufficient to pay for yoiir investment every year. A few thou¬ sand dollars invested in’ the Tunnel stock now, may give you an incomo to support you tho balance of yonr life ; it is not, like most mining enterprises of a temporary character ; it is a work which comprises a whole district; all mines have to pay their pro rata ; if ono mine runs ont of ore, another one will make a new strike; and bo you may expect a steady inc imo from your invest¬ ment during your life time, and probably that of your children. The stock is not transferable for the pres¬ ent ; that is necessary to keep the Bank of Oalilomia from controlling it ;.that is noces- sary for your own security; I would not ad¬ vise you to invest in it were it otherwise, for it w ould bo beyond my power to sec yon pro ¬ tected; if tbe requisite capital is once ob¬ tained, aud the company incorporates, thou tho stock will bo made transferable ; it will then be beyond tho power of any moneyed institution on this coast to injure us. The stock or receipt you get is signed by me as agent, for the Sutro Tunnel Company, under special powers derived from all the trustees of tho association; besides the title to all our land, and mining grants, and other privileges, was made by Congress to me individually, iu trust for all concerned, for tho purpose of facilitating the transfer of all, or any portion of our pioperty. Any document, therefore, signed by me will con¬ voy to you a full, and clear, and unincum¬ bered title to tbe interest you'obtain, which cau never be assessed. I am satisfied that throe thousand, nay, five thousand men can oe found in western Nevada, to save up $10 per month for in¬ vestment in tho Tunnel; then you have tbe eastern part of this State. a:ui the State of California! You have the whole Pacific coast, and if necessary idle Atlantic States, to como to vour assistance ! But one waits for another to see whether a sufficient number will como in. That wilt not do ; you will never accomplish any¬ thing in that*manner. It is true nobody proposes to enter into bonds, if old Comstock had waited for somebody to sign bonds before he put hi» pick into the ground, he would be waiting yet. If yen refuse io educate and clothe tbe bey until you see whether ho is going to grow up, lie will not be fit for much w hen lie is a man. If yon do not prospect a lmno until you have made a t'orfuno out of it; if you will not go into the water until vou learn to swim ; it'you w ill not take tno first step until you aro wilbin sight of tho end of your journey, this life would bo a vory short horse and soon curried. Fancy the Tunnel done, a glorious fact, and see’ how small all such objections will look. Ii' there is a motive to begin tho Tunnel, how much greater is it to finish it ? The whole secret lies in starting it going. Get tho sharp end of yonr wedge fairly inserted, then drive away, aad every blow will tell. Come forward then and subscribe your names; pay in your money promptly. If you can spare but $5 this mouth, go‘up to tho office and put it in. Some of you will put iu $100. We havo sufficient money in tho treasury now to commence work within a few daps. Come at once then, and you will prove your friendship for tbo cause. If my individual efforts have been suffi cient to induce many of you to come in, how much greater will he our influence and strength when several hundreds or even thousands aro interested? How much greater will bo our infiuenco at Washington, and how much greater tho chance of obtain¬ ing the subsidy asked for. Do you havo any fear the work will over stop again after it once starts ? I have none myself. When that Tunnel is daily progress¬ ing, with chances of striking rich veins at any hour, everybody will want to invest; everybody will then bo the friend of t he en¬ terprise. When peoplo seo it is going to go, they will all say tnev knew it would. You will no longer be able to find any one who ever opposed it; the newspapers will all como out for it; the excitement will run high, and in a vory short timo people will be eager to invest at double or trinle the price. So much then for the dollars aud cents view of the question ; but let me revert once more to the other, which is by far tlie most important. Supposing, then, your contributions were outright gifts to the cause, wouid vou bo the looser ? I think not. Miners and laboring men ! What is the price of your health, your liberty, your in¬ dependence? Are they not worth more than all tho filthy lucre you could possess ? Who is there among you so avaricious as to refuse to give and donate outright a few paltry dol¬ lars per month to a cause which will elevate yonr race, secure yonr health, your liberty and your independence? A cause which will insure to you liberal wages; u cause which will effectually settle that, vexed Chinese question ; a cause which will make you the power of this land, make powerless your oppressors, and break uj> your arch enemy, tbe California Bank! 1 say, who is there so blind as not to see the magnitude of tho question ? Let a noble rivalry spring up among you who shall come in first; drop ail prejudice • let all trifling objections Tull to the ground ; let one excel the other in magnanimity; let all make one joint, grand, unanimous effort, and victory will be yours. SUTRO TUfiNEL COMPANY. CAPITAI. STOCK.,.SIS OOO.UOO. <’-lIf VAUJFOFSUaKICS, ISIO kACIl AT SS EACH. 1 'HE COMPANY OWNS A MAGNIFICENT tract of laud al the mouth of the runnel, joutlv sloping down towards Carson River, aud well protected from strong winds by the high mountains ou the west¬ ward, constating of l.idO acre*, mnkin;: an excellent site for a town. The land ia of the very best kind, covered with a l3»m from three to five feet l£> thickness, and well adapted for gardening purposes. An abundaul supply of waler will be furnished, issuing from the mourn of the tunnel. A town will be sun-eyed shortly, and town lots will be sold at very reasonable r iles. The title to the land Is derived directly from th ■ C .v ernment, by ft special Act of Convrc-s, approved t v the President oi'ihe United Stater. July 15, Igfi6. The Companv also owns, under the same Act of Cou- „.-ess, all the mines within 2,Co0 feet on each side of the tunnel, or 4,000 feet in width, commencing at the mouth of the tunnel and running through Mount Davidson Into Washoe Valley, a distance of seven miles, erxcsptlnt; such mines as wore already owned at the. da e of the grant. The property of the Comcanu May be coaeiVcred north at teaehlijft V.IM. Oougress, at Its last session, has had under its con¬ sideration a bill, recommended by the Committee on Public Lauds atta the Committee on" Mines and Mining* lending the Government credit to th s great national work, to the aa.ount of $15,111 > for every 10J font of tan nel completed, not to oxeeed the sum of $6,>X)0.l>C0, said bondi to be payable in twenty years, and drawing in¬ terest at the rate ot seven per cent, per annum. There Is every reat-.onto think 'hat Congress wflUakn prompt action upon this matter at Its next session. Parties Investing In tbe stock of the company aro on titled to their full share of all the properly now po* sessed, or which will hereafter bo posressed by tbo company. The share* are unatsr'SrM*for erer. Let every citizen of Nevada promptly invest In thU great work, according to hie means, and'thereby secure the future of our State and spread prosperity aud wel¬ fare all over the country. Work wilt be commenced on the lutrnei Immediately, and the expenditures upon the s*me will be undei th- tecial supervision of a committee appointed by the iintrs’ Union. Here Is a chance fir tho laboring men of the country to form a great co-operative association, and to elfectu- ally compete against tbo cucm.uchm-nts of capital. For further particulars apply to the undersigned, at No. TGOsireet, Virginia Cuy, oppose- Wells, Fargo i. Co.’s. ADOLPH SUTRO, Duly authorized Agent of ihe SUTRO TUNNEL COMPANY. An Irishman named John Driscoll went to a music hall in London, not long since, and returned home singing a song ho heard there about “ Mary Ann.” A countrywoman of bis, named Mary Goghlan, had *a baby who had been christened Mary Ann. Sh’o thought he was ridiculing her child, and, after some words had passed between them on the subject, she went in-doors, put Mary Ann to bod, and returned armed with a poker, with which she beat Driscoll on the head so severely that he has been ill ever since, and is not likely to be convalescent for somo timo. Mary Cogian was brought up at tbe Thames Police Court before Mr. Benson, who said that if the complainant was singing tho old ballad of “ Poor Mary Ann,” it was a very olaintive and beautiful one, which be had often heard with delight. It was a great absurdity to be offended with such a song. He committed the prisoner for trial.