Weekly national intelligencer., 1850-10-26
INTEREsTINGFRoM CALIFORNIA.
EDITORS CORRESPONDENCE. Il
SAN BAscIsco, srrrEnBEn "a, 1850.

1t is, to-day, onj year since arrived In tnis
place; and, even Aough this late trust this COM
munication mayJserve to amuse some Of your
readers during tJe recess of Congress.
The current news of the day is regularly fur
nished you byjour numerous and creditable daily
papers, from (which it is pleasant 10 observe the
ample quotations. in the columns Of the {" National
Intelligence5; and therefore it is unnecessary Tor
correspondent to recapitulate. To your readers
it will doubtless be more entertaining if the curtain
be raised and they be assisted in obtaining even
an impeffect glance behind it. ,a
The present is an important, startling, and
trying period in the life and history Of California.
She is approaching, and must soon pass, the line
between speculation and permanency. The travail
has commenced The agonies are great, and the
day of deliverance, il is hoped, is near at hand,
when we expect sse our virgin State spring into full exist
encs surrounded with al the wealth with which nature has
endowed bsr. -s1s 1.AAsss. '-s- Y
In the ssry part Of the present year the crisis began to
manifest itself in the failure of of most important
commercial houses Recently Gas the public prints inform
you) they have been rapidly followed up. We have
just recovered from greatest panic and the bankers from
their greatest But will be asked, why these pancs
and failures a2
Tbs sudden development of the wealth Of this State, and
the good luck Of those who happened be the spot at the
time of after those Developments account for the sud-
den and fortunes made and few calm considerations
will develop what necessarily followed
Fortunes were made by chance, in few months, and
almost lost through the spirit which chance
induces
Lots which two years ago sold for sixteen dol
lars could not year ago. have been bought for
thousands Men of all descriptions who landed here with
few dollars suddenly found themselves wealthy and humble
clerk of 48 the extravagant millionaire of 49, Dimes
began be regarded drops Of water and spectators
in real estate thought loss of time to speak in smaller
figures than thousands. The only fear Of property
seemed be that they might fall below the mark in their de-
mands Lawyers would not look at less than two Eagles"
as ee and physicians turned up their at any thing
more dminutiye than N ssounce visit" Small silver
regarded the greatest Of nuisancesn wor every thing
weighed in the scale of excess
Soon after this of affairs had commenced the winds
began blow and the rains descend The streets Of
city filed with mud. The ardor Of citizens
dampened The communication with the mining regions
nearly off The drain of dust our only production)
undiminshed The prices land and of articles OF traffic.
suddenly fell As the spring opened thousands were
off to the mines; houses vacated and down
| and lumber,
In the the possessors Of fortune given them by
chance mbued with the wild spirit Of speculation which
seemed pervade every breast at the particular period to
which have alluded had launched forth into gigantic oper
aons and had contracted heavy responsibilities Soon after
the causes above mentioned began produce their effect
Days Of payment preceded by little bs, began to arrive
Goods and ands and houses could not be sold except at
sacrifice Great hopes built upon the revival Of bus
in the spring Money to meet these liabilities
cordng borrowed for only month"; at per cent per
month AT the end Of the month payment would be incon-
venen and, in the mean time money had got be in
hoc
suit can readily be imagined. 1t is told in few words.
Mortgage foreclosure protest. soppage, assgnees, SALE and
| sacrifice.
When this condition Of things will end readily be
foreseen The rmness with which the survivors encounter
ed and the late panic gives at least
that dark days beginning to be over although
we may still have a severe ordeal to pass through
The effect Of all this however, is generally regarded will
be sautay and chastenng will dsspate the spirit of
VACANT speculation and establish Of things
in the end calculated to advance the interests of
home Those who hereafter successful will have acquired
their possessions In natural and legitimate manner
and will know better how to take of them Fortunes
will not come and 60 by chance.
As to the ultimate greatness and importance Of California
there cannot be doubt Tue this is subject upon which
there is difference Of opinion We have among the
gune and the despondnghose who have been prosperous
uoso "no uavc ueen VINO VIII su
ge reflect and labor, and who will and unforu-
naey those who here and judge for themselves
too often msed by those who have energy enough only
to grow and derive satisfaction alone for their dsappont-
mens from giving utterance their complaints. The
pied have but little time for writings and, unless made
profession with them they would find it difficult task to
collect material enough enable them paint this country
as it is
years residence in San Francisco and observation
the changes through which the city has passed during that
PERIOD could fail to convince any that this place must
be the great commercial emporium of the of
America Its trials, like its progress, without parallel
in history. Its heart thrice burnt out the city presents
thrice improved appearance Upon the smoking embers Of
houses and the ruined fortunes Of individual men, the genius
of improvement has reared gigantic front. Continuous piles
of massive brick eproof buildings stand where, but
few weeks ago, tinderbox houses stood The nfmamabe
character of buildings high Winds and absence of rain
cause every be the alert and almost anticipate
other caastrophes of similar character. Preparations
made accordingly and like most Of the in Cali
orna, "grea fire. would create much less Of sensation
upon the very spot than it would in The States The public
improvements going planned upon an extensive
SCALE Artesan wells reservoirs and plank streets pro
crossing with wonderful rapdiy, and when completed will
make this place what ought be- and believe, destined
to be- great one. Wi,ha however, will repeat remark
often made that every one at home should weigh well the
step before he steps to California To entertain the idea that
any who cannot take Of himself in the old States can
succeed here is dangerous and sometimes fatal error