The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-08-07

porspse, extravsgsuee. and folly, exhibited by the
managers Of our railroads generally. have 30 swollen
the sost OF the principal lines that Of them
trally earn the dividends they declare, and some OF
them hardly the sxIs nse OF operating and re-
airs The hubble win soon burst
The news recently received from California has
created arevouon in the pubic mind relative to the
resources OF that country aud the result Of the
emigration from the shores Of the Atlantic the
shores Of the Pacific. We anxously waiting later
advices with the hope that favorable cunts
perperly authenticated, may come to hand, and
leye the suspense which thousands labor under who
have friends and relatives their way to that far
disantlsnd Our opinion relative TO the realization
of riches from the gold mines Of California has mate
rally changed since the accounts have reached US
showing that the difficulties experienced in digging
such thut very few contend with them success
fully So far as the question Of supply is concerned,
there can be but opinion but far the acqus-
ton Of gold Is concerned, we afraid that the
counts recently received will be confirmed In every
particular. With gold, and a large production an
nuslly, California holds out very moderate induce
ments for large emigration IL has natural
resources but its mines Of precious metals, aud IL
these fail, easily imagine the result The
geographical position of San Francisco is highly
cent bay Of that name being capable Of floating
almost the marine Of the world; but It has such a
limited extent of back country, that it cannot sup
port very large population The valley OF the Sacra-
mento comprises the bulk Of the soil adapted to agr
culture west Of the mountains, the whole territory
being but strip of land compared with the i'm
prares this side seeking outlet through our
rivers to the Atlantic The emigration now on its way
to California could hardly be supported from the cult
A.
Any communication through the mountains would be
of little service to the inhabitants OF the Pacific coast
as all west Of the Rocky Mountains represented
sandy plains and deserts. The main Of Cali
fornia. therefore, her mines of gold, quicksilver
&c; ana If these fail the growth Of that country will
be limited and moderate. In the absence Of ether
resources, mining must be it's main dependence; but an
annual product Of ten twenty millions Of dollars
would give impetus to other branches Of industry
and enable the people to command the industry of other
nations This would be preferable to the employment
of the bulk of the population in the production Of
gold and would give greater impetus to the growth
Of the country, and permanency In its pros.
perity.
The advices received by the Crescent City, relative
TO affairs in California opposite to the impress
sion previously existing that at loss what
expect, what to think Accounts month lator from
San Francisco are nearly due That the last intel-
gence will be Confirmed, have not mush Doubt but
apprehensive that the will be even more
disastrous By the next steamer from San Francisco wa
must hear Of the arrival at that port of thirty forty
vessels of the grand fleet filed with emigran and car
goes Of merchandise Of all kinds and the effect of such
an increase Of supplies upon already overstocked
market must be ruinous to those interested Hundreds
In each Of the large Atlantic ports who have involved
themselves in this movement will be heavy losers they
are not bankrupted. The value Of the vessels which
have ailed for the port Of San Francisco Is enormous
and we do not see how quarter of them can
find employment In the Pacific. They will be
able, doubtless IL they get provisions, to
get back fast enough to any Atlantic port as there
will be plenty Of able bodied men at San Francisco,
anxious to work their passage home In this way they
may get back; but the suffering desttution loss Of
life and property must be immense There has never
bcen during the existence Of the world, such gold
mania the one which is about subsiding; and the
effects Of 1t will be felt for many years At least
hundred thousand people have been attracted from
their homes to country thousands upon thousands Of
miles of most Of them have abandoned lucrative situa-
tions and profitable empoyments; many Of them have
left families unprovided for, and in want many
Of them have raised all the money they could
borrow and beg, to obtain an OUTFIT sufncient to
land them at San Francisco without q dollar
in their pockets, or a second coat to their backs;
and 1t therefore becomes matter Of startling impor-
lance what these people to do Most Of those who
will get back, will be completely used up, far
finances concerned and perhaps with shattered
ruined constitutions. Thousands will never return,
and perhaps never be heard Of We better imagine
than describe the state things that be
by at least one hundred thousand ,meetn in
and unproductivs country disappointed In their hope.
and expectations without the to get away and
starvation staring them in the fhcsif they remain But
may rest assured there viii be trouble enough. The
smigrants from the United States class enter
prsng, active, energetic, persevering young but
the emigrspts from Mckee and South America have
generally been desperate chsracters-men capable Of
any crime. The Indians also a hard race to deal
with and the mountains Of California afford peculiar
facilities for the preparation fanny amount ofiniluty
Next winter Is destined to be the Of civil
war Of raccs-which will result In determination
We have great deal Of confidence In the principles
people, and, II they strong enough they will
assume the power and maintain IT, but IL there Is any
equality OF forces collision evitabe and God only
Notwithstanding the complexion Of latest
counts from California and the terrible things
anticipate, there viii be- without doubt produs-
tion Of gold to some extent from the mines II Is by
improbable that million. Of dollars worth
will be extracted during the year 1sBo but this Is
thing-t win moth pay for the provisions that will
be consumed In that country. We shall be able to
anslyIe this matter more thoroughly when we get
month or two later news.