The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-12-19

New York and New Orleans Is expanding by degrees
Into steady and regular commerce Other wants and
other begin to claim the attention population
too to be wholly engrosssd in searching for
the yellow dust, or transmitting IL into dollars. The
want Of little government that useful article which
MIR. Wakefield tells us Is much needed and, in ge.
ns,S 50 SANITY enjoyed ~ the people OF young CO.
felt than means taken to supply it. Municipal in
stutions created with the business like
emigration and the gold coast Of the Pacific becomes
without further the seat of the youngest and
most precocious Of the States Of the Union.
cannot be uninterestng for us, out Of whose oins
sprung the great nation which is rapidly peopng the
western hemisphere to see kow nimbly grsndchl-
dren dispose of difficulty which has given our own
statesmen such vast deal Of Improbable trouble To
found such institutions their settlement
to these happy Caornians the simplest thing In the
world. The settlers choose delegates the delegates
meet, and call themselves conventions constitution
| is sketched and agreed upon; two chambers with a
| GOVERNOR and the regular sdmiuistratiye stan, to
which they have been accustomed at home these
the simple outlines Some details, deemed Important
enough to find q place In the first draft, are filed
up the country Is parcelled out into districts and
the thing is done. Yorla tout. Nobody interferes
ceedings of the coonists The whole affair perfectly
spontaneous. An American emigration carries along
with it the seeds Of its national institutions which
gin to geIminate as soon as ever 1t has found perma
nent resting place in new SOIL Now, do not wish
to draw inyidous comparisons do overlook the
fact that the pastoral and agricultural colonies Of
Great Britain do not ripen into maturity in two
years, like the sxarming population which has been at
tracted to the far West by the scent OF the great
Calift rnian gold mines But whilst colonies the
remotest Of the earth calling loudly
and impatiently for leave to enjoy that free and
popular form Of government which is the birth
right OF Englishmen-whilst Lord Grey and Mr.
Merivale are biting their pens, and devising all
OF impossible constitutions substitutes for
those which have been already returned upon their
hapdswhst the recollection Of the imagi mary bills
for the relief Of the Australian colonies which used
figure ON the notice paper last session is still fresh in
cur minds-we cannot help contrasting all this ferment
irritation aud diss waste of official
Dor and psrverson Of official pgenuitywith the short
speedy, and facile solution which this random
bage Of "loafers from New York and reckless adven-
turers from the Mississippi Valley, have found, when
left entirely to themselves for the problem that dis
tresses the Parliament and government Of England.
The Caornaps have not leisure to build houses or to
provide themselves with the comforts, what are
deemed elsewhere the necessares, Of existence They
sleep under tree eat their curry (when they at
ford it) at Chinese resfdurder's; and, busy
"wash at home receive their supplies Of clean linen
from Hawaii and Canton. But they not SO busy
to do without government, rather, they too
busy dispense with one and they have found ample
leisure to construct one accordingly.
Were We writing for American rea ters, We should
proba by think IL right TO them with G glow
ing picture could paint Of the future fortunes
OF The State winding up with glorihcstion of the
youthful but gigantic republic which has planted
her foot firmly upon the dtant shores of the Pacific
The young community has indeed grown with unex-
smpled rapidity, According TO the American prac-
tice a newly settled district when the Inhabitants
have rsaeheda certain number Ia recognized
ritory" with a municipal orsauization of It's own,
til IL becomes sufficiently popu Gus to take rank
State. But California has overleaped the chrysalis
stage and s already entitled To admission on equal
terms with the other members Of the federal common
wealth. Nor should omit to notice the good feeling
which appears TO reign between the two that form
we find that the native Mexicans in the con
bear their fell proportion to the number Of Inhabitants
OF Spanish descent, and that in several localities the
Spanish candidate elected by the unanimous suf
fsgss If the American residents. IL may, however,
be fairly suspected that among the dsgsrs OF Yankee
extraction honor which interfered seriously
with business, was not very ardsntly desired But
the thoughts Of most Engiishmen will probably take
u somewhat different direction They viii be disposed
rather speculate the effects which ths bold stride
to the western sesboard may ultimately produce on
the eherepoe OF the Union will in the Con-
venton Of Monterey, step though doubtless remote
one, to that dissolution which they are accustomed to
believe Inevitable. The crucial question of slavery
which forms the most dangerous element in the politics
Of the Mon has observe been settled by the CALI
fornisns in the right way They are certain of large
quarters land IL hkey to bear good price aud labor
will be abundant They do not want slavery, and they
hsss saasa .hs sn, s f,ns s,Sor n
t.rest. This Is a danger avoided The tlsvs states
mutt, in the end, go 10 the wall aud any accession
TO their strength would only serve to aggrayate and
proiract the struggle On the other hand IL cannot
be- denied tst the very expansion Of the Union over
large additional area Is in itself not without its
attendant perils. Experience only can convince us
that the world is destined to see for any heightened
p.rod Of time the tacls Of united
federal State--we will not say embracing the whols
North American continent, but stretching from the
hanks Of the St Laurence aud the Columbia to the
head OF the California Gulf. Time must show whether
the railroad and the telegraph, which have already
done wonders in linking the Western States TO the
gsther the far limbs Of so colossal an empire
California will not be tapped quite so easily as the
Mississippi valley The rsciae affords her , ready
with Old world will be cut not the Rocky
Noun tains, but over the lsthmus 81 Panama With
her face 20 the West and her back to the American
Cobtinent the seems destined to be the centre OF
new commonwealth, or group Of commemorative, on
the shores Of the further ocean.
The Plethora OF Gold In England
tFrom the London Mercantile Gazstte, Nov. rs
IL appears that the country Is nov suffering under
plethora gold In the Golfers Of the Bank Of England
there are nearly sixteen millions lying idle there is
way Of empo) ing IL IL Is pouring In from Russia
and afOrnia but st the price must be ~ l1s 1870
per ounce according to sir Robert Feels bill; and
than this the Directors VI the Bank OF England
sre obliged 10 bu, Il at THE price whether they require
ju.t rasensbls to put fixed price by act oil para
ment upon wheat or cotton or indigo ss upon gold IN
the state Neither that the act OF
eonsge makes any difference In the real value OF the
metal bst.ver may be the parliamentary price OF
rod in bullion bars In England, In our commercial
d'slipss with foreign countries II vii only bring the
esb. price In The country to which sekportsd
and should cCinee gold be sent abroad instead o ou
lion AZ often i precisely the came result follows.
The standard price, then can only apply TO the inter-
nal circulation and for this purpose it Il quite inma
tera what be the weight of soveregn so long as
II 10 merely required to represent commodities In the
internal rac Of the country. The liking price upon
geld H. We think very inconvsnept, very absurd aud
eonrarv 90 every sound Of political economy
and probable inux Of this metal into kurope-from
California and other newly discovered gold regions IN
N
,uch legislation but the impossbty u carrying on
the commerce Of the country la legitimate manner
while fuch n lsw 10 In operation. Nothing more
needed In commercial country like this, than sound
and philosophical system Of currency aud banking;
ma nv attempts have been made to attain ths but AZ
Vet not even an alton has been gained to any
Thing reasonable In monetary snsirs tamperipg
With the currency In commercial country aud ~hen
we speak of currency, include a. well the paper a.
the allie circulation 10 destructive 81 that security
which commerce requires In the value Of commodities
and Sir Robert Pe.ls banking bill Of lst s precisely
the measure all that could be devised decsvely cat
ouated TO render all commercial values and CONNER
oisl dealings uncertain and Precsrieus. However, a.
we cannot but think that psrsment during the mel
fttsiop will the necessity Of further snd more rs-
tionsl ,aslson In the monetary affairs Of the coun-
try we ,hall not dwell further on the subject.
IL becomes o curious question what occasions TINS
large influx Of geld into Epelsns-by what processs
elected, kost decidedly IL not the result OF our
commercial dealings the relative proportions OF our
aud export trade forbid Us TO come 70 any such
Moreover the low rate Of interest plainly
indicates that trading matters are by no means In
ate 81 sctivy but the reverse II ~e add the specie
in the Joint stock and private banks to the bullion and
,recie In the Bank of Ebgsnd, " will make an segre-
"a lxiu W ahuW