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To the mind of the average person, sunken treasure is taken for granted, as the counterpart of the romantic "Spanish Main", along with the islands, and their exotic names, that dot the area. Their mind can picture the rotting hulks of pirate galleons, with their barnacle encrusted timbers,embracing chest after chest of precious staies, doubloons, and pieces of eight. The mental scene, would of course not be complete, unless the bones of a long pirate with a cutlass still clasped in his bony hand, wasn't draped over the chests of loot, and the ever present giant shark, riding shot gun, a few feet above the tangled and broken rigging. True, there is plenty of loot to be wrestled from the grasp of the Caribbean. But for those that do plan on a bit of treasure hunting in the future, whether on a large or small scale, I say "there is no need to take off for the lands of the swaying palms. "For there is plenty of treasure right here in these "sweet waters" of the Great Lakes. Treasure in every form, from cash to cargoes of whiskey, lead, pig iron etc. Fortunate is the treasure hunter either professional or amateur, that lives close to the shores of Lake Erie. For of the five lakes, Lake Erie is the most likely one, for the hunter who would hit a jack pot. This is due mainly to the fact, that ships were plying its waters in greater numbers, years before marine traffic increased on the upper lakes. In view of this, it is not difficult to compute the law of averages, add logic, and get an answer. A capsule run down on a few of the wrecks, that are sitting on the bottom of Lake Erie, containing valuables in one form or another, may help to convince the skeptical, that there IS treasure in Lake Erie. Lying on the bed of the lake,about a mile and a half off of the south shore of Long Point, is the almost forgotten wreck of the immigrant ship YOUNG PHOENIX!. She went down September lij., 1818. No lives vere lost In the sinking, but these Irish immigrants lost everything they owned. Money, jewelry, and all other personal property. Their money was consolidated in a single metal box for safe keeping, and would be returned to them when they reached their destination. This money box was In the Captain's care, and was forgotten by him in his frantic efforts to save his passengers, when the ship began to settle. It went down with the vessel, and as far as is known, has never been recovered. What type of cargo she carried, is not known. The vessel was bound from Buffalo,New York to Port Talbot, Canada, when she floundered. For the collectors of cannon, muskets, and other ancient military gear, a bonanza in this vein, can be found about a mile off the mouth of Catfish Creek, fourteen miles from Buffalo. This collectors windfall, lies in the water filled holds of the armed British sloop BEAVER sunk August 28, 1763» Still intact, is the cargo of the schooner JOHN Q. ADAMA which sank one mile below Grand River in 1832. Her cargo consisted of iron, copper pigs, and flour. Waiting for some modern day salvager to locate her, are the remains of the schooner FRANKLIN which sank near the mouth of Grand River, October 31, 1820. Her owners offered one half interest in the ship, plus one quarter of the cargo, to any person that could raise her. There were no takers of the offer, so she Is still laying there. Her cargo made up of barreled pork, and casks of whiskey, and hides.