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102 productive, as he is borne out in all that he had stated in his former report, by the rapidity with which the works, by which the drainage is to be effected, were advancing towards their conclusion.

Without adopting implicitly these calculations, I am bound to state that they are made by a gentleman of undoubted ability, and that the works, by which they are to be realized, have been carried on by him with the greatest science and activity.

I confess, however, that Captain Vetch's expectations, with regard to Real del Monte, are more sanguine than my own, because his estimate of the probable produce considerably exceeds the average registered amount of former times.

He, however, justifies his calculation, with regard to the Biscaina vein, (the most important of all,) by stating that it is founded upon the produce of its best years, (from 1794 to 1801,) when it yielded six millions of dollars; and that it is not assuming too much to say that, with improved machinery, and an improved system of working, it may again be brought to the same standard, as soon as the deeper levels are reached; in which it is universally admitted that the richest ores were found, although, from the difficulty of keeping them free from water without steam-engines, they were ultimately abandoned.

Should these expectations be realized, and the produce of the year 1829 amount to Two millions of dollars, deducting one million for the expence of keeping up the establishment, the whole outlay of