The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-03-20
The Erect In Eu1 ope of the California Gold
News.

From the London Times, Feb. %
The question whether change In the relations
OF property Is to take place from the discoveries IL
California still remains unsettled. For the past
month or two anticlpatlOns OF a social revolution
have fitted before us, until they have come more
or lees TO be entertained by the majority. There
are still. however, a large number whose personal
interests are involved, Or who are indlspOsed to
credit extraordinary events at any time, who re-
slst the " hole affair as an exaggerstlon. On the
relative correctness OF either party the accounts
otyesterday will not throw much light, and we
must therefore, perhaps, wait another fortnight for
more definite means OF judgment. One fact, how
ever, to be strongly remarked ls, that all the ac-
counts, come through what channel they may, tell
the same tale. Upto the present time not a single
instance has been made known of any Individual
upon the spot, or IN It's neighbourhood, whether at
San Francisco or Monterey, having put forth
word Of dissent or disappointment. This unior-
nifty would be striking testimony OF truth, even
lfevery man In California were known to be I'M
worry OF personal credit, or to have some strong
over, 1t must be recollected that if the findings
were not apparently lnexhaustlble, it would lie on
the side OF cOnCealment.
Most persons, therefore, will admit that If great
ELECTS have not absolutely been shown TO be nevi-
table, they are at all events to be regarded as ex-
tremely probable; and that II Is consequently not
premature, pending the arrival OF more decisive
news, to attempt to calculate the way in which
they VIII be developed.
The one grand result Is plain to every body.
Debtors will be benefited, and creditors will be
the sufferers. All persons holding annuItes, whe-
ther IN the government funds, Ate Interests, qua
ranteed railway shares, liked ground rents, Nc, or
having any specified amount to receive at some
future date, must be prepared to find that the pay
mehts thus to accrue TO them will purchase fewer
commodities In proportion to the change which
may take place between the relative supply of COM
moditIes and of gold. The gIantOrs OF these an
Duties, on the other hand, including the public as
tar as concerns the national debt and all persons
under encumbrances, as well as those who may
hnI I0nn leuu Ll,b Ia
The problems to he solved arise out of the extent
to which individual cases will be modified by their
own peculiar circumstances, and also by the vari-
Gus ccnpensations and adjustments which will be
brought to bear on them by the simultaneous dis
tubanoes which are taking place in others. The
complicated nature OF these will employ and per-
pick oil minds; and, as in every instance where
novel conditions have suddenly arisen, the wisest
and most rational calculations OF what would re-
suit, have been found in some points not only to be
eirent ous but abb olutey directly opposite to what
has finally happened We may rely that nothing will
be put forward at the present moment which will
not ears hence have to be largely corrected when
our EXCAVATIONS shall be tested by experience
III the probable extent OF the cause by which the
charges hlch may be impending are to be wrought
Is sublime IN Its vagueness, and the question whe-
liner gold is heDceoTth to be freghted TO us IN
ounces, pounds, or tons, Is u matter upon which
ore guess would be as reasonable as another al
mast as wholly are we IN the dark us to the stock
upon which the supply Is 10 operate. E320, 900 600
has been assumed TO be the amount at present held
III EuroIe and America, but netting Can be more
loose than the estimate, and at the same time the
quantity existing In plate and other forms, can
never be arrived ut.
Fassng then the vain question as to the force
with winch approaching events may come upon
us, we must entirely limit our view TO their direc-
ton.
AS regards the public funds and the prices of
various d. scfipons OF property, 1t seems obvious
that NO alteration in price should result in the case
OF snDuIues OF any description, because these
nultits teIng payable IN gold the price OF the prin
cIpal in gold must still bear the same relation to
them. Az Tar, Therefore, as any direct action is
copcerl ed, consos should not BE- affected. II the
>-.@. =. $50 r.N ..-~,eL gl.-t.f n. .Glgltpt