The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-08-01

C0AMERCIAL AFFAIRS.
Tuesday, July sI-s r. M

There very little doing In the street this
ing. Sales small Treasury Notes fell OF y
while United States Skies, 1867, improved q. Erie
Railroad advanced y; Long Island, "; Harlem, y, nc.
The operations in foreign exchange for the Caledonia
from Boston, were small
The half yearly interest due from the State Of Penn
sylvsnis, is payable to-morrow-the LIST Of August
The Manhattan Company have declared dividend
Of three and half per cent for the last six months
payable on the 10th Of August.
The from California Is precisely what previous
accounts have prepared us for, and such wo have
had to expect The accounts which hare reach
cd confirm all those previously received relative to
the supply Of gold In the mines but the great difficulty
appears to be In getting II outin getting ct it-and
this difficulty will materially restrict the production
IL Ia opinion that the sversgs product among the
miners win be much less than heretofore antioipaed
but II the product less per head the sggre
gate IL likely TO be to extcn larger from the
Der Of people that will probably be engaged II will be
long time before shall have oil the facts relative
TO the extent aud produveness OF the Mines aud be-
fore that time arrives shall the bubble which
has already been formed, explode, and the minds Of
people settle down upon something more reasonable
than has Jet been thought Of In connection with this
matter. Gold manias have. In oil ages during the
istenes Of the world resulted In ruin TO Thousands
There IL nothing liable to eTasgeraton reports
relative to discoveries Of the precons metals; aud
We are prepared to see much disappointment AM
distress grow out Of this California movement
have been realized In all similar movements since
the world began. Thousands have embarked their
all In this enterprise, and failure Is utter ruin
Thousands have departed for the mines Of Cali.
forrs leaving their families completely destitute,
depending upon immediate returns for their labor
IN the yiacrs for the TO keep then and those
depending upon them, from starvation; aud what
IL the prospect before nine out Of every ten who
has become thus dtsstedl Desperation will drive
many of then TO the mines with the detsrmus
tion TO do or die, 'ssd, in nine eases out OF ten
death will be the result. We better imagine than
describe the Of misery which another yesr must
produce II III. tide Of emigration continues 10 GOV
rapidly towards California. The difficulty In getting
gold the destruction Of health aud Of life aud the
comparatively limited number Of emisraat' Who will
be able TO work. these sacrifices, will el
many TO turn their attention other and more oou-
genial pursuits. Agriculture, mechanical and mer-
santile employ will In for share Of a,tsn-
ton and the country wn be actually more enriched
and become desirable place OF residences than
though gold ts only product The restrictions
~bicb the laws Of nature have placed upon the pro-
Sueton Of gold, will tend vastly to the clearing and
cultivation Of the soil Iof Calfornisto the settlement
Of population that will by legitimate Industry, make
a enc Of thu richest countries the Pacific coast
w. by no means look upon the revulson which has
ovsrtsken the gold movement evil; but, on tbs
seutrsry o. blsssing-one calculated to advance the
happiness and prosperity ~ the people that country
tsnfd would be reszed from untold millions of
the precious metals There " probably nothing so de-
usrsHsip9 as the easy acquisition of gold ana how
ever beneficial large proGoction OF preciou, metals
In California might have been 10 the world AZ large 10
would have been attended with snArchy and the ac-
con psbyine svils. in the place 81 proluc;toa The
late from sfornia IL theretTe favorable for the
Ihe p,o,aetion OF cold will under toe most adverse
circumstance exist 70 some ertent out tns w
Dor prodnee IL will be nearly eG ~h 10 US pre-
sent market value that there need be opranens0a
relative 10 any depreciation In the ssrreucy.