A highly reliable correspondent sends the following from San Francisco, under date 5th July:—

      The emigration for Fraser River has gone on for months with no signs of growing less. The best means of judging what grounds there are for the belief in the existence of gold in large quantities on its banks, is by letters received from persons who are engaged in mining. It is worthy of note that there is no discrepancy between the accounts given by different individuals, all their statements agreeing. The mines are reported to be exceedingly rich, and yielding large returns to those engaged in digging. The river is very high, and miners have been driven from several of the most lucrative bars until the water subsides. Mr Hill, from whom Hill’s Bar took its name, is mining some distance above that point. He and six hands were making from an ounce to an ounce and a-half of gold dust a day to each man. For three weeks prior to the freshet, Mr Hill and one man averaged one hundred to one hundred and fifty dollars a day. The freshet, however drove him off for the time being. Mr E.R. Collins, who has spent some time in the Fraser River gold region, and who brought down last week a quantity of dust, has communicated the following intelligence to the Alta California. Mr Collins is a trustworthy gentleman. He left San Francisco in March last, and was at Olympia when the excitement first broke out. He then, in company with three others, proceeded to Point Roberts, from whence they proceeded up Fraser River to the mouth of Harrison River, about twenty-five miles above Fort Langley. This portion of the journey they performed without guides or assistance from the natives. The current was moderate, and occasionally beautiful islands were discovered with heavy timber, which presented a beautiful appearance. From Fort Hope to Fort Yale, a distance of fifteen miles, the river runs narrow, and the current running about seven miles per hour, though, in some places, it might be set down at ten or twelve. At Fort Yale, the first mining bar was reached. It extended out from the left bank a distance of some thirty yards, and was about half a mile long. Twenty or thirty squaws were at work with baskets and wooden trays, while, near by, large numbers of male Indians stood listlessly looking on. Here some of Mr Collins’ companions, who had now increased to twenty, proposed to stop and try their luck, but the majority resolved to go on, having informed themselves satisfactorily that further up the “big chunks” were in abundance. After resting a while, therefore, the party went ahead. Two miles from Fort Yale they entered upon the commencement of the real difficulties and dangers of navigation on Fraser River, the water for a distance of thirty-five or forty miles passing through deep gloomy cañons, and over high masses of rock. At this time the river had attained only a few feet above its usual height, so that by perseverance and the skill of the native boatman they were enabled to make slow progress. Numerous portages were made—one of them, the last, being four miles long. These portages could not be avoided, the cliffs rising perpendicularly on either side of the river, sometimes to a height of fifty or sixty feet, affording not the slightest footpath on which to tow. At other places the whirls, and rocks partly submerged, rendered a water passage utterly impracticable. At every bar and shallow spot prospected in these wild localities gold was obtained in paying quantities, all of very fine quality—rather difficult to save without the use of quicksilver. From the head of the cañons to the forks of Thompson’s River, thirty-five miles more, the current and general appearance of the river seemed about the same as from Fort Hope to Fort Yale, gold also being found where there was an opportunity for a fair “prospect”. At the Forks the party were told by Travill, a French trader, whom they met by accident, that the richest and best diggings were up Thompson’s; but that river being navigable but a few miles up, it was thought best to keep on up Fraser, which they did for a distance of forty miles, encountering no serious obstacles beyond a few rapids, and they were passed by towing. Five miles above the Forks some twenty white men were at work, making with common rockers from ten to sixteen dollars per day. Arriving at a bar about ten miles below, where white men were congregating in numbers considered sufficient for mutual protection, they took up a claim and commenced digging. They worked here steady twenty-four days, averaging fifteen dollars per day to each man. The greatest day’s work of one man was thirty-one dollars. These figures, it is thought, would apply to all the miners.

      Our latest news from the new mines reach to the beginning of July. At that time there were immense numbers of miners on the banks of Fraser River, waiting for the stream to fall and enable them to go to work on the bars, which are said to be fabulously rich. Some dry diggings had also been discovered in the neighbourhood of the river; but owing to the presence of a large number of Indians, not of the most friendly disposition, the miners dared not then extend their researches far from the stream, where the bulk of the whites were congregated. The town of Victoria, on Vancouver’s Island, has sprung rapidly into importance. Great advances have been made on real estate there. Lots, which a few months ago were sold by the Hudson’s Bay Company at twelve pounds ten shillings, are now selling at over 250 pounds. A newspaper, called the Victoria Gazette has been started there; and an American steamer, The Surprise, is also running regularly between Victoria and Fort Hope, which is one hundred miles above the mouth of Fraser River. In the last week of June the arrivals by steamers and vessels at the various ports of British Columbia reached the large daily average of one thousand, while those who have lately travelled through the mountains say that the principal roads in the interior present an appearance similar to the retreat of a routed army. Stages, express waggons, and vehicles of every character, are called into requisition for the immediate emergency, and all are crammed, while whole battalions are pressing forward on horse or mule back, and on foot. Of course, the shipments of merchandise from San Francisco and other ports are very large, to keep pace with this almost instantaneous emigration of thousands to a region totally unsupplied with the commodities necessary for their use and sustenance. Up to the present no outbreak or disturbance has occurred, and a certain degree of order has already been established in the mining region, through the judicious measures adopted by the governor. Justices of the peace and other officials have been appointed, and a system protective of the territorial interests organised. Licences, on the principle of those granted in Australia, are issued; the price, five dollars per month, to be exacted from every miner. There was a good deal of talk, as to the right or propriety of levying this tax when it was first proposed, and some of the Francisco papers were load in their denunciations; others took a calmer view. It is satisfactory to add that little difficulty has so far been experienced on this head. As a body, the miners are reported to be a steady set of men, well conducted, and respectful of the law.

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