From the plaque:
Mokelumne is an Indian word,
first applied to the nearby river. Earliest settlement
was at Happy Valley by French trappers. Gold was discovered
by discharged members of Stevenson's Regiment in 1848.
Mokelumne Hill was the center of the richest placer mining
section of Calaveras County and one of the principal mining
towns of California. Corral Flat produced over thirty
millions in gold. Sixteen feet square constituted a claim.
The so-called 'French War' for possession of gold mines
occurred in 1851. 'Calaveras Chronicle' was established
in 1850. Fights between grizzly bears and bulls amused
early residents. The town was destroyed by fires in 1854,
1864, and 1874. County seat of Calaveras County from 1853
Erected by Calaveras County Chamber of Commerce. Dedicated by Native Daughters of the Golden West, June 1937.