Photograph of an exterior view of the National Exchange Hotel in Nevada City, 1907. The lightly-colored building stands at center three stories tall. From the top of the first floor a porch extends over the sidewalk. Underneath several of the thirty windows in the front wall are fenced balconies. People can be seen on the sidewalk to the left waiting in front of a horse-drawn carriage that sits on the side of the road. Many fine buildings line the street further down to the left, while the Nevada County Bank sits underneath the hotel on the right with a shop labeled "Rosenberg Bros." just to the right. A second horse-drawn carriage sits in front of this store on the right.