The sudden rise and fall, the unexpected appearance and disappearance, of so many Mining Companies, is a subject which must necessarily occupy a few lines in the future history of our country; and when the exultation of those who have gained, and the disappointment of those who have lost, are alike forgotten, the Historian who calmly relates the momentary existence of these Companies, will only inquire into the general causes of their formation, and the general causes of their failure.

That a commercial error has been committed, no one can deny; and it must also be admitted, that this error was not confined to a few individuals, or to any association of individuals, but like a contagious disease it pervaded all classes of society; and that among the lists of Shareholders in these speculations, were to be found the names of people of the first rank, character, and education in the country.

Experience has at last been purchased at a very great loss, and by it we now learn, that both the formation of these Companies, and their failure, have proceeded from one cause—our Ignorance of the country which was to be the field of the speculation. But although this must be confessed, yet let it also be remembered, that the error was accompanied by all the noble characteristics which distinguish our country.