The Arkansas banner., 1849-07-17
rhe t.ol.l of f,nIiforniO.

l
 Il has been thought ty many that the discovery of the gcGd plseevs of CaliEsfAia. abcundtng in [ weNlsh inexhaastihle, woaId TFcsaee sa gr~as . revouoa in the vslae end uses cf tha, tnetal that q lhosnngh change would take place in the prices fos every species oi peoPery. and that tt would eS sseise such an influence on public and private credits as would efect sa utter and complete deraagemen, oG sa the landma~ks og commerce.. and the dessaac. ton of Ali the old systems of finance. Gold has hisbetso been the great standard Of value oE every thing, preserving the ts.rus;e worih all over the wosk--in Japan sod Chas, in the wIhs ef Ara 1 bia, ard oa the banks of the iadas and Ga"ges, as well as on the great Snsr,s of London and Paris. ' should il maitiply in the ratio which has beea cal- eaiated on data furnished by the produce Of the ! mines of California; during the las, twelve months, ia few years we shall alscsi De flooded with Il, when it mus, inevitably d'splace au immense qaaa- ti,y of paper, which st present forms the aftheiai currency of the principal commercial nations of the earth. In Earope. particularly, where aii is now eonSuIson. in political pain, Of view. and where confidence a psbIe sad private credits IS necessarily SC much shaken, the increase in the supply of gold, caused by workingt the California piacers, will pro- vide the means oi restoring healthy metallic cur rency. by saPplansing its unsabssantai representa- tive. which is always feveIish and haciuating. The masses will be immeasar ably benefited by 1t, for it is they in ali commercial crises, who are the great sufferers by the depreciation which is thereby pro- duerd tn the bank rags that inundate almost every great place ol industry.
 The N Y Herald oi the 18th alt. treats this sub jec. tn luminous and comprehensive manner, but
 is Of opinion that tine period is still remote when the supply of gold shall be sufficiently great to bring about any material arrangement ot commercial sys ;ems. or have any very considerable influence on prices We shan make a few extracts from iis ex eeIlent article 1t states that from list which it has kept of shipments of gold from San Francisco, the amount of the precious metal brought to the United States is Si, ,s62 s00. whist that which has found its way to other countries, being regularly registered is S2, ,s07 4ss making the aggregate sum of 269 7ss. This is over and above the quantity taken away from San Francisco, in the trunks and bags of individuals privately, which it estimates al s7O0,oeo or $sOe. .oo0; the whole representing the exported produce of the mines for istS-not more than three or four months digging Hull S5,o00, 900 
 It adds
 "Indepeneent fthiWt i' reasonable to suppose that there was at the latest dates large amount of gold in dust, and pieces varying from ounee to several 1 pounds weight, in circulation in and about San Francisco tor the purposes of trade ard hoared by diggers in the different parts of the mining section" l When we take into consideration the few facili- ties which the miners had for carrying on their la ! bors, the rude implements they employed, the ab senee of anything like scientific operation on the piacers, we must confess that the quantity collected is extraordinarily great, and it speaks volumes for the richness of the soil
 ! The mines during this year, with the experience which the resident workmen have had he intelli- gence and resources of art which the new corners will bring with them, the Improvements on the old modus opsraHdi which will be iniroduced, and tbe new machinery that is sure to follow, will be nsde to yield infinitely more in proportion to the Iabor employed than the year gone by. The Herald here- 1 apon says:
 "A large number of emigrants now on their way to the mines of California. Many of them will not arrive there before JuIy, bu; the bulk of them will be on hand by the ist of August. We should l judge from the numbers thai have left our ports, and those who have taken the land rouie that by the 1 lst Of August full eighty thousand people will be
 in the gold section of California. Suppose fifty
 thousand of these engage in digging for gold, ii will | give all average of more than thirty thousand dig
 gers for the whole season, equal to about two hun dred working days. The production oi such large number of isbofeFs at the rate realized last year, would amoun, to the enormous sum oi S96, ,o0o, ,6oc | (niuety-six millions of dollars) This Is moi an over estimate, and the calculation is formed upon data which no one can dispute"
 The writer then argues, in support of his opinion, that the period is still distant when the increase oi gold wilt effect any great change in the value of property; that ih consequence of the financial revo-
 ution which is about spreading Europe. it will 1 require the addition of millions upon millions ol gold to afford the people sound and safe currency, and to prevent a collapse which would otherwise prostrste the industrious classes, al the same tune that i. would crush the noneyed arisiocraey oi the Old World" The following statement, exhibits the aggregate currency of the world. according 10 the best authorities:
 BANNING MOVEMENT OF THE WORLD. Cgeaiatsou. Specie ,a BanAs. United States. ....... no 000, 900 sO.600, GOO C Britain and Iieland.. 2o0,000,0o0 90,o0O,0oG France, .... I25,000,000 5D,Oo0 ,000 VAst ot Es,,rora 6tln sssa aOO lS0 O00 OoO