The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-06-18

San Francisco In the trunks and bags Of indviduas
privately. The thus carried away must be large,
and would, If known and added to the above, make
much larger amount. The large number Of minsrs
who down in the California to Panama, and by
the Crescent City to New Orleans, have no doubt
brought very large sum, which cannot be put into
table Of receipts 1t would be safe to put the ship
ments from California in this down at seven or
eight hundred thousand dollars which would swell the
aggregate to full 1--WE millions of dollars Independent
Of this is reasonable to suppose that there at
the latest dates large amount OF gold, in dust, and
pieces varying from to several pounds weight.
in Giro ulaion about San Francisco for the pur
poses OF trade bearded by dggersn derent parts
of the mining section These sums added to the ship
merts will give pretty good idea of the amount Of
gold produced in that region during the Of lSl
a period Of about three months real digging.
When We look at this immense amount Of gold ex-
tracted from the soil of country, in such short
time, by such small number Of diggers,
nished, and induced to believe all and every thing
the most excited Imagination could conceive. During
the whole OF the California movement, not q
single well authenticated contradiction of the first
counts has been received but every report relative to
the richness Of the mines has been confirmed by the
next which has come to hand. This is extraor-
binary circumstance, and is alone sufficient to create
the greatest confidence in the results Of the move.
ments goingson in connection with the mineral wealth
Of that portion of country. The first report Of
Governor Mason relative to the probable product Of
each laborer in the Mines has been than realised
and the prospect is that the operations fer 1910
will produce agreater proportionate result The miners
in 1913, had facilities for extracting the gold
dust from tho soil, but those of the toughest and
most imperfect character and they therefore, abored
under the greatest disadvantages. Notwithstanding
these drawbacks, the product averaged more than
ounce of pure gold per day for each man engaged.
This year-1849-the miners commence under the most
avorable auspices. Many Of them have experience,
and such great improvements have been made in the
machinery necessary to work that 1t
is impression that the aggregate of last year will
be equalled, If not exceeded Taking the average Of
last year basis the result Of this years operations
will be enormous
A large number Of emgrants are now on their way
to the mines Of California Many of them will not
rive there before July but the bulk Of them will be
hand by the LIST of August. We should judge from the
numbers which have left ports, and those who have
taken the land route that by the 1st Of August full
eighty thousand people will be in the gold section Of
California Suppose fifty thousand Of these engage In
digging for god 1t will give average of than
thirty thousand dggers for the whole season,
equal to about two hundred working days The
production Of such large number of laborers,
at the rate realized last year, would amount to
the enormous sum Of $96,0OO,O00 (nnety. six mil
lions Of dollars) This is an over estimate and
the calculation is formed upon data which one can
dispute According to ideas of the mineral wealth
of California, the production of gold will be limited
only by the number Of people engaged in the Mines
The supply is pronounced inexhaustibe. fsuch the
fact cannot form the slightest idea Of what the pro-
duct will be few years hence, when the valley Of the
Sacramento will be teemng with population. If the
ratio of increase from year to year. is great it is
likely to be this year, compared with last, California
will literally food the wsrld with this metal and pro-
great revolution in its value and its uses
been realised in any Of the political and
ligious systems of the world. We do not however,
look for those results which generally anticipated
from this increase Of this Of pro-
perry 1t appears though Overriding Power inter
special shaping events to prevent
that utter and complete arrangement of all the land
marks of commerce, and destruction of all the old
systems Of finance. The accession Of such enor-
nous amount of gold to the channels Of trade, would
have tremendous influence upon prices for every spe
ces property and public and private credits but
for the existence of state Of things in the political
world calculated to annul the effect which would other
wise be experienced. Events which have recently
transpired in the financial and political world, have
destroyed confidence in public and private credits to
such an extent that immense amount Of the paper
currency of Europe must be displaced and the
filed with the precious metals This will absorb
enormous amount Of gold and tend to preserve that
equalization of values necessary to keep matters in
a healthy state. The financial revolution which is
about spreading Europe will require the addition
Of millions upon millions Of gold to afford the people
sound and safe currency, and to prevent a collapse
which would otherwise, PROSTATE the Industrious
classes at the time it crushed the moneyed aris
tocracy of the old world Wo statement
hbtng the aggregate currency Of the world according
to the best authorities in possession
BANKING MOVEMENT WoRLp.
Circulation Specie in Banks
United States $40 100000 $4,000 900
Great Britain and Ireland. 200 100000 9O,000O00
France. l25 oOOOO0 500O0,000
Rest Of Europe. 500.O0O000 $50 100000
Rest of the World. ...... 2500 600 10000 900
Total. ......... 81 .245. 900 900 900
The displacement Of half Of this circulation,
will require increase of gold to the amount Of six
hundred millions of dollars Independent Of this i'm
sum- commercial paper and evidences publcin
debtedness, which used kind of currency to q
large amount will he displaced their Mace SIM.