The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1850-02-09

We have been favored with the following very
interesting letter received by a commercial house
in this city:
SAN FRANCISCO, Dec. 9, 1919.
Dear Ssl have noticed with particular care and atten
ton your two avors of Sept 18th and Oct 6h which the
last mail per Oregon brought will endeayor to inform
you as inehgenty possibly can, the Of things in
California, and your question, Are any persons
making large fortunes in money? And will here premise
that in country in the world real personal property
easily turned into If property is sold credit at all
it short Rents invariably paid in advance, either
monthly quarterly.
Large fortunes are made here and many persons
ped at the facilities for quickly acquiring them Rents
enormously high, and valuable here that build
ing will not SELL general thing for than the annual
rent Personal services cannot be obtained except at high
price, and thing from second hands can only be obtained
great advance 1t is of little consequence,
moments reflection will YOU how high are the prices
of either services merchandise if there is uniformity and
balance. For instance store You afford to pay
very high rent, purchase your commodities at a
very large profit and the mechanic and aborer pay 81
per day for his board for bis boots and three
for his coat if he receive half ounce ounce per
day for his labor And them these high wages to
build my store, or building fifteen by twenty feet and
story high can obtain do $500 month rent and thus
may go on. All this will work well if there proper and
suitable distribution and equalization of prices.
But here the question: Can these high prices
for what require (and require almost every ng) from
sister States and foreign countries? Are our own pro-
duets sufficient pay for what require? Can afford
pay $500 per thousand for lumber $50 barrel for flour
81 per pound for BUTTER 50 per pound for cheese etc
To this question unheatngy reply afford it.
Ii the people oil Louisiana could obtain Tor her products
that would average dollars per day Tor each individual
could she afford to pay these prices You will unques-
onaby answer in the affirmative.
Now are well aware the greatIluestion in political
economy with reference TO public prosperity oyhat
tent and with what amount is the labor of the country
awarded? For os question depends the whole matter
the prosperity Of the State the country Now, it pro-
badly low estimate if we fix $40 per day the
of the income of every nhahitant of California or more
properly speaking that the yield of the mines will average
this amount. very large proportion of the inhabitants
the country engaged in the nnes and the labor and
vices of nearly all the other inhabitants is with reference
providing for the supply of their necessities For instance
have large warehouse i'll which store their trunks and pro
VISIONS the destination of which, of which, for the
mines vessels aud which the bay and
rivers to convey the mners and their baggage and for
them For these services obtain large pay, and l. in my
turn can pay clerks 500 per month"; and captains and eamen
$500 and $40 per month for their services and then pro-
ducts are ready money As they appear they
avaabei Not with your cotton aud sugar it requires
time obtain the money for them from the States and coun
tries which require them Next year probable many per.
will be engaged in agriculture, and we shall not require
much from foreign countries and from sister States
In answer your questions relative the formation Of
stock companies for the purpose of manufacturing mining
operations build the Tehuanepec road would observe
that such projects would with favor here Money
can be employed much prOaby and make quicker and
certaireus other kinds OF business You cannot de.
pend upon California for the investment of capital any such
projects the Tehuantepec road or lines OF steamers Her
needed for her Internal business and for
the deveopement Of her We obtain $2j to
take passenger ia miles the Sacramento river
and have pay for meals extra, while than $50 to
500 could be obtained bring passenger from Tehuauepec
San Francisco. You will readily that means can
be used here to much better advantage then anywhere else
You will doubtless inquire how long this of things will
continue in California. TO which reply, long the gold
Lasts and annual product OF gold surely be de-
pended for generations annual crops
sugar, cotton and tobacco We have foemed State Gov
erment and protection life and property here great
in any country in the world. Never before so promising
field OF enterprise offered the industrious laborer and me-
canc, the intelligent and active merchant the pre-
sent state Of things fictitious, We have inflated paper
currency put up prices There bubbles here burst
and scatter desOaon and misery Everything based on
solid foundation and permanent prosperity may be expected
Without reference mineral wealth, think California
must be great and prosperous Sateit kind of halfway
house for the commercial world And when the Railroad
is built the continent surely will be, all nations
must pay her tribute
San Francisco is beautiful spot build city. The con
guration is beautul and gazing from OF her beautiful
hills 5U0 feet above the level OF the noble Bay The mos
splendid sights enraptures your vision.
My sketch imperfect but can better understand
perfectly the state Of things here by being eyewitness
You must visit towns-sa rvers-ride over GU
mountains and through valleys and rauons, where th
miners work-to have adequate conception of TIT
| state oil things in California NERITAs.