The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-05-02

only about $4,000 had been shipped at other ports
leaving balance of s35o,O0o unacoounted for Our
impression ID that the aggregate expectation Of gold
from San Francisco to the latest date amounted
full two millions Of dollars 1t must be borne in mind
that these shipments entirely from tho digging of
last year from June to December period OF six onths
equal to about hundred and fifty working days and
the product of the labor of fifteen hundred From
the best estimates which have been formed the total
product amounts to between three and four millions of
dollars from which deduct the export and there re-
main in the hands of the people of California be-
tween one and two millions Of dollars This is by no
means an over estimate Such is the result derived
from the best authority Of the proceedings in the gold
region for the year 1913. We about commenc-
ing operations for the year 1919
Since the LIST Of December last according to an ac-
count kept in this office, three hundred and twenty
five vessels have left the Atlantic ports of this country
for possessions in the Pacific and twenty thousand
people have left shores for shores Of California
all intent upon digging gold, the acquisition of the
dust in one way or another. These people have gone
well provided with facilities for extracting the gold
from the soil, and have doubt the diggcrs will
average greater sum per head than realized during
the Of lS4S. The average product per head in
lS4S, about ounce of gold per day This was
obtained under all the disadvantages connected with
discovery and in the absence Of proper means for
extracting gold from the wet and dry diggngs These
difficulties have all been removed, and the soil will be
most thoroughly searched for the the machinery
and facilities the genius Of people has provided
We have heretofore shown by calculations based upon
the result Of last years labor that the product for
1s49 must be equal to hundred millions of dol
lars of gold dust. To obtain this immense sum
it will require the labor of thirty thousand men for
two hundred days at the same rate per head realized
in lS4S. This is not calculation, and we sec
to doubt its accuracy If the supply of gold
in that section Of country is inexhaustibe havo
every evidence in the world to suppose it is there is
half Of this amount should be obtained-say fifty mil
lions Of dollarsit will be immense accession tho
specie currency of the world In any view that
taken Of this affair it appears of immense magni
tude and importance-one which will work q great
revolution in the commercial history of tho country
and give great impetus towards that ascendency
in the financial world which destined sooner
or later, to achieve.
With this favorable state Of things must ex-
pect some reverses. With all the prosperity there
will be many Of individual ruin Disasters will
overtake many who have embarked in this enterprise
with the most sanguine anticipatons. Late advioes
from San Francisco-March 3d-state that tho
markets Of California literally glutted with
goods OF all kinds, and that groceries pro-
visions, &C.. were complete drug-no sales, no
purchases, and prices very much depreciated-
that the papers Of San Francisco were filled with
tsements Of ships, merchandise, provisions &C. for
SALE This looks rather gloomy for those who have
made shipments Of merchandise &C. from this part of
the country to California but looks very favorable
those who have left for the purpose digging gold as
the expenses Of living will be much reduced, and
adventures will be able to accumulate the gold dust
mi rapidlv their individual hena6t TIA ars+
of March, not of the 1926 vessels which have left the
Atlantic ports since the first Of December last had ar.
rived and If there plethora Of goods and provi-
sons previous to the arrival of any of these vessels
the supply would be largely increased upon their arri-
val Fortunately cash Of these vessels carry with them
large body of consumers; and the population that
country must be rapidly increasing the markets must
If the shipments not kept up in short time be
cleaned out, and prices again become cxorbitant.--
The losses the first arrivals must however, heavy
and many WILL doubtless be ruined Houses here have
gone deeply into this business have employed all their
capital and extended their credit for the purpose of
making shipments in the hope Of realizing enormous
profits The prospect at present is rather discourage
ing, and expect for q time tho California trade
will be abandoned. There spectators, however who
will, doubt avail themselves Of this lull in the
movement to make shipments, with the knowledge
that the time to 60 into this well into anything
else Of the kind is when it has been generally aban-
doned Some time since, were informed that a com
psny had been formed here for the purpose despatch
ing agent to San Francisco to purchase goods for
the markets Of the Pacific for the purpose of sending
goods from San Francisco to Valparaiso, and other
ports which have been drained to supply California
AS insane such a movement might have appeared
at the time, 1t based upon pretty shrewd calcu-
atons and the result is likely to be exceedingly pro-
ftable AS anevisence Of the reckessness with which
many have gone into the shipment of merchandise to
California it is only necessary to state that an i'm
quantity Of hawls have been sent out when it
was well known that the female population of that
country is and for long time will be- very small The
time is not far distant, however when markets. any
extent for almost every description Of merchandise
&c. will be found in California at remuncrang prices
but have been in too much haste and have antici
pated q demand which will hardly be realized for
years.
Stock EYchanne.