Yreka: “the richest square mile on earth.”

It was March, 1851 and gold had recently been discovered about 30 miles south of here on the Scott River.

A group of six men... while striking camp the next morning, Thompson observed something extraordinary. Because of heavy rains the ground was soaked, and the bunch grass, serving as breakfast for the pack mules, was being pulled out of the ground, exposing the roots. And on those roots, Thompson noticed, were flecks of gold. He and his men decided to stay.

Unbeknownst to Thompson, he had just spent the night on what would soon become known as “the richest square mile on earth.” As well, his accidental discovery set in motion the creation of a new town.

With so many gold-seekers already in California due to the ’49 gold rush, it wasn’t long before word got out, and within six weeks of Thompson’s discovery there were 2000 miners on Yreka flats. In those early days it was known simply as Thompson’s Dry Diggings, and was basically a huge camp full of transient gold miners. By August of that year, as the miners discovered that this area was the “second mother lode,” the population swelled to 5,000. At that time, the town, now called Shasta Butte City, moved to its present location, in order to be closer to the nearest water supply (Yreka Creek).

Slowly but surely, the new town was taking shape, and the first real structures were going up on Main Street (today’s Miner Street). In early 1852, with the population continuing to grow, the State Legislature created Siskiyou County. At that time, because there was another town called Shasta in the region, Shasta Butte City changed names again, this time choosing the local Indian word for Mt. Shasta—Yreka.

from "The Boomtown That Didn't Go Bust--A History of Early Yreka"

+++

 

Yreka Mine, 1860

Yreka Mine, 1860

 

Richard Barter, also known as Rattlesnake Dick ...[d]uring California’s Gold Rush days, [settled] in at Rattlesnake Bar, a small mining camp in Placer County..... 

However, Barter was unsuccessful in his quest for gold and soon decided to turn to a life of crime. ... In 1856, Barter learned from a drunken mining engineer that large gold shipments were being sent down Trinity Mountain from the Yreka and Klamath River Mines.

 

Barter sent George Skinner and three others to intercept the gold shipment, which was packed on mules. George and the other bandits stopped the mule train outside of Nevada City, California holding guns on the muleskinners. Meekly the men turned over $80,600 in gold bullion to Skinner and his men, without a shot being fired.

 

The bandits then made off with the shipment to keep a rendezvous at Folsom with Barter and Cy Skinner. However, George Skinner found it next to impossible to take the heavy gold shipment down the mountain passes without fresh mules. Soon, he split up the gold shipment burying half of it in the mountains.

 

Making their way to Auburn, the outlaws were soon intercepted by a Wells Fargo posse and gunfight ensued. In the melee, George Skinner was killed and his confederates fled. The lawmen recovered $40,600 of the stolen loot and though they searched diligently, they failed to find the remaining $40,000. ...

 

The treasure has never been recovered and is said to be somewhere on the slope of Trinity Mountain, said to have been buried about 12 miles south of the hold up point.

 

 

-- from Legends of America

 

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And now, on February 1, 2012, the LA Times reports:

 

Thieves in Yreka, Calif., made off with $3 million in gold nuggets Wednesday after breaking into the Siskiyou County Courthouse and smashing a glass case that contained a display on the area's mining history, officials said.

On its way to the sedate repository of the vaults below 33 Liberty Street, NY, NY -- or elsewhere... gold sometimes has an extremely colorful journey.

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George Gilder Thankfully Returns, Bearing Knowledge and Power

by Ralph Benko

George Gilder, whose new book publishes today, is one of the original pillars of Supply Side economics. As stated by Discovery Institute, which he co-founded, “Mr. Gilder pioneered the formulation of supply-side economics when he served as Chairman of the Lehrman Institute’s Economic Roundtable, as Program Director for the Manhattan Institute….”

He was the living writer most quoted by President Reagan. And he is back with his most brilliant work yet — one of potentially explosive importance if taken to heart by our political and policy thought leaders. It is a radical guide, with surprising insights on almost every page, to the creation of a new era of vibrant prosperity.


The Lehrman Standard

by Paul Brodsky

As reviewer Paul Brodsky, a professional investor in New York City, perceptively notes,

"Lewis Lehrman is one of a very small group of contemporary gold advocates able to successfully bridge the gap separating practical conservative intellectualism from fleeting, half-baked idealism. His CV lists great success across many fields including education (degrees and teaching fellowships from Yale and Harvard); industry (past president of Rite Aid); politics (narrow loser to Mario Cuomo in the 1982 New York governor’s race); finance, (past Morgan Stanley managing director); private sector entrepreneur (founder, L. E. Lehrman & Company); public sector advocate (founder, Lehrman Institute); historian (author, Lincoln at Peoria: The Turning Point); and recognized philanthropist (awarded the National Humanities Medal by George W. Bush in an Oval Office ceremony). ... Only someone erudite and elegant in demeanor could hope to pull it off . In an irreconcilably over-leveraged world where irritated bond vigilantes question economic sustainability and angry Tea Partiers protest the immorality of it all, Lehrman’s views are considered and his convictions carry weight. He brings gravitas to his cause, and he does so from within as a member of the club."

Read More

 

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Before the Fed: JP Morgan Summons the Bank Presidents

"Finally, on the night of Sunday, November 2, Morgan summoned the presidents of the major New York banks to his new library, at the corner of Madison Avenue and Thirty-sixth Street, an Italian Renaissance-style palace he had built next door to his house to showcase his collection of rare books, manuscripts, and other artwork. Its marble floors, frescoed ceilings, walls lined with tapestries and triple-tiered bookcases of Circasian walnut, crammed full of rare Bibles and illuminated medieval manuscripts, made it an incongruous setting for a meeting of the banking establishment. Once the moneymen had gathered, Morgan had the great ornamental bronze doors to the library locked and refused to let anyone leave until all had collectively agreed to commit a further $25 million to the rescue fund."

— Liaquat Ahamed, Lords of Finance (Penguin Books, 2009, p. 54)



The Demise of Money and Credit

by Lewis E. Lehrman

Lately we have been engulfed by headlines reporting financial turmoil on every continent, in almost every nation, large and small. The commissars of central planning who so marred the history of the 20th century have been replaced by central banks in the 21st. In Cyprus, the new leadership now dares to confiscate citizens’ wealth with a one-time tax of up to 60 percent on bank deposits above 100,000 euros. Self-interested prime ministers blame continental monetary policies for instigating the currency wars that they themselves surreptitiously carry on.

Read More

 

Remembering the Fed

Kathleen Packard  |  Jun 19, 2013
America recently celebrated — well, maybe we didn’t celebrate – the 80th anniversary of Franklin Roosevelt’s action to end to the gold standard. But America is also celebrating – well, maybe not everyone is celebrating – the 100th anniversary of the legislation creating the Federal Reserve System. As Lewis E. Lehrman...

The Common Sense of the Common Law

Ralph J. Benko  |  Jun 18, 2013
Constitution.org provides an extensive and thoughtful Memorandum of Law by Larry Becraft, Esq., of Huntsville, Alabama, on Article I, Section 10, clause 1 of the US Constitution. Sir William Blackstone courtesy of Wikipedia One of many interesting matters the Memorandum treats is Blackstone's Commentaries, a book that was a fixture in the...
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Jun 19, 2013
World Press
Philip Scranton

How the U.S. Scuttled the 1933 World Economic Conference

In the spring of 1933, global trade was being undermined by nationalistic economic responses to the Great Depression, including currency...
VIEW WORLD NEWS
Feb 20, 1983
Key Monetary Writings
Lewis E. Lehrman

If We Had 'Real' Money We Could Still Salvage the Reagan Revolution

THOSE OF US who believe in the goals of the Reagan revolution had better face up to the consequences of...
VIEW KEY MONETARY WRITINGS
 
Prosperity Through Gold
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(1896-1978)

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