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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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From: E. Charters9/3/2006 11:45:12 PM
   of 78411
 
Francisco Lopez and the Mexican Gold Rush

There were signs of gold in California during the Mexican era. In 1842 Francisco Lopez, a rancher, discovered a small gold deposit in the San Feliciano Canyon in the mountains behind the San Fernando mission. While pulling up some wild onions one day, L6pez noticed gold particles on the roots. Suddenly a minor gold boom began in the area near present day Newhall. For almost two years forty to sixty miners were employed to extract gold. A portion of this gold was sold to the United States mint in Philadelphia, but the sales failed to spark any official interest in California. There were also occasional reports of gold being discovered by Indians or Franciscan missionaries, and the Mexican government displayed some interest in the economic potential in California. A local Los Angeles businessman, Antonio Coronel, invested in mining parties searching for gold and silver deposits. This entrepreneurial impulse is in marked contrast to the myth that business values did not predominate in Mexican California. On the contrary, Coronel was an active businessman investing in mining ventures that he believed would bring a substantial return. But the Newhall gold find was an insignificant one and it drew little serious attention. It was important, however, in suggesting the skill of Mexican miners and the business acumen of California entrepreneurs.
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