Vallecito was one of California's important early mining towns, named by Mexicans with a name meaning Little Valley. Gold was discovered here by the Murphy Brothers in 1849, and the place was originally called "Murphys' Old Diggings." A bell was cast at Troy, N.Y., in 1853, brought around the horn, purchased from the ship with funds contributed by early residents, then taken to Vallecito and erected in a large oak tree in 1854. It was used to call the people together for all purposes until February 16, 1939, when a severe wind blew the old tree down.