The following extract from the Placer Times of the 17th of July, 1850, under the head of "Great Discoveries of Gold--Gold Lake," will afford the reader a lively conception of the degree of excitement caused in California by every new announcement of a newly discovered locality abounding in gold:
"We were inclined to give only an average degree of credit to stories that have reached us during the past few days, of the unprecedented richness which this locality has developed. A few moments passed in Marysville on Saturday, convinced us that there is much more show of reality in this last _eureka report_, than usually attaches to the like. In a year's experience of local excitements from the same cause, we have seen none equal to what now prevails in that town. It has visited all the inhabitants indiscriminately, lawyers, doctors and judges, traders, teamsters, mechanics and gamblers. Our readers know we are the last to justify the circulation of unfounded or exaggerated reports, but we deem it right to conceal nothing of what may prove (for aught that we can see to the contrary) one of the most astounding discoveries in the modern history of diggings. The specimens brought into Marysville are of a value from $1600 down. Ten ounces is reported as no unusual yield to a panfull, and the first party of sixty, which started out under the guidance of one who had returned successful, were assured that they would not get less than $500 each per day. We were told that the previous morning two hundred had left the town with a full supply of provisions and four hundred mules. Those who could not go were hiring others in their stead. The length of the journey and the quantity of provisions required, there being no stores in the region, rendered an outfit rather expensive. Mules and horses had doubled in value, and $400 were considered no more than enough to furnish a proper start.
The distance to Gold Lake was first reported two hundred miles; the best informed, however, say that it is but little more than half of that. It lies at a very considerable elevation among the mountains that divide the waters of the South Fork of Feather from those of the north branch of the Yuba. The direction from Marysville is a little north of east. The story has of course spread ere this far and wide among the miners high up on the Feather and Yuba, and the spot will be as crowded as all other good places are, ere the tardy adventurer from this region could reach it. The region of the Gold Lake wonders is a new one, however, and lies between what are established to be diggings of unsurpassed richness. It is our belief that it is better for one who has got some initiation into the gold mysteries, (if there be any,) not to be content in old 'used up' localities, but to push along to the great field yet unexplored; and that, though the search be long and laborious, the _big lift_ is ultimately pretty sure for those who are patient and persevering."