The Arkansas banner., 1850-05-07
CALIFORNIA.
HON. T. BUTLER KINGS REPORT.

on her metallic wealth. her vast mineral remaining undeveloped, and her fertile soil almost wholly neglected; and this must conliue to be the case long as labor. employed in collecting gold, shall be more profitable than In any other pursuit which can furnish the sinews of commerce.
 The day Is probably not distant, however, when her numerals, especially the quicksilver mines, wiu be extensively and prO6iaby worked.
 Gold Is the product Of the country, and Is imme- dately available In uncoined state, for all the purposes of exchange IL is not there, as ia other countries where the productions of the earth and of art sent to markets foreign or domestic- to be exchanged for the precious metals, other articles of value There, gold not only supplies the medium of domestic trade, but offoreign commerce. At first view, this atate of things would seem to l be unfsvorable to an extensive intercourse with other parts of the world because of the want of re- turn frelghts of home production, for the vast num- Der of vessels which will arrive with supplies.
 These vessels, however, making calculation return cargoes, will estimate the entire profits of the voyage on their outward freights, and become on their arrival. willing carriers for comparatively small consideration,
 | This tendency, in the course of trade, 1t would seem, must make San Francisco warehouse for the supply, to a certain extent of all the ports of the Pacific, American, Asialic, and the Islands. | Almost every article now exported by them finds a ready market in California, and the establishment of mint will bring here also the silver bullion, amounting to more than ten millions per annum, from the west coast of Mexico. and perhaps, ulti- mately from Chili aud Peru, to be assayed and | coined.
 Vessels bound round Cape Horn, with cargoes for market on the American coast of the Pacific, cau by taking advantage of the southeast trade winds, and standing broad off the Cape," make the voy age to San Francisco in short time as they to Valparaiso any port south of California Yes sells have sailed from Atlantic ports to San Fran cisco in less than hundred days, and they have snr Shun tnafa ma hnu HFad and twenty days in going from Panama to San Francisco
 This astonishing difference. in time and distance was caused by the course of the winds, and the 's gulf stream of the Pacific, mentioned in my marks on the climate of California.
 The vessels from our Atlantic ports took advan- tage of the winds by steering from tho Cape far into the Pacific to be enabled to take course west of the gulf stream in sailing northward, thus availing themselves, first of the southeast, then of the northwest trades" and avoiding opposing currents. The vessels from Panama were kept back by caIms, adversewinds and currents. It will be per ceived, therefore, that there be no inducement for vessels bound round Cape Horn, with mixed or assorted cargoes, to stop at Valparaiso, Callao, Guayaquil, or any other port on the west coast, because the exports of all those places will seek market at San Francisco; and their supply of mer- chandize, return freight, will te delivered at less expense than it eau be by vessels direct from At lantic ports, American or European. This ten dency of trade to concentrate at Saa Francisco. will be aided by the course of exchange.
 Gold dust h worth but $l7 per ounce in Chilli It is worth SIS al the United States mint. If, there fore, a merchant of Valparaiso has ten thousand ounces in San Francisco, received in payment for lumber barley flour, or other produce, and desires an invoice of goods from the United States or Flu rope, he will gain $l0, % al the outset, by sending his gold to New York, besides saving something on the freight and insurance, and at least one months interest.
 The countries on the west coast Of America have no exports which find market in China, or other parts of Asia. San Francisco will therefore become not only the mart of these exports but also of the products and manufactures. of India required in exchange for them, which must be paid for princ- pay in gold coin or gold dust. Neither gold coin nor gold dust will answer remittance to China. Gold, in China, is not currency in any shape, nor is 1t received in payment of import duties, taxes on land, or on the industry of the people
 The value of pure gold in China is not far from Sl4 the ounce Hence the importer of manufae- lures and products oi India into San Francisco will remit the gold coin or dust direct to New York; fo investment in sterling bills on London. These bills will be sent to London. and placed to the credit of the firm in China from whom the merchandise had been received, and who, on learning of the remit l tance having gone forward to their agents will draw a six month s sight bill for the amount, which will sell In China al the rate of four shilIings and two pence or thrse pence per dollar.
 l 1 have a statement before me from one. of the most eminent merchants and bankers of New York who for many years engaged extensively in the India trade, which shows that the profit gain on ten thousand ounces of gold, thus remitted would be. ............ $j4, ,434 A ' | And that the loss on the same quantity.
 sent direct to China, would be. ...... .l5 600 co l Total difference in profit and loss in fa-
 of the remittance to New York, 0034 fl
 1t will thus ba perceived, that nature has so ar. ! ranged the winds and currents of the Pacific, and disposed of her vast treasures in the hills and tans of California, 10 give to the hsrbor of san Francisco the control of theommerce of that ocean, as far as it may be connected with the west coast | of America
 | Important as the commerce of the Pacific uu- doubledly Is, and will be, 10 California, it cannot now, will ever compare in magnitude aud value to the domestic trade between her and the older States of the Union.
 l Two years ago California did not probably con tain more than l5,000 people. That portion of il which has since been wonderfully peopled by American citizens, was. comparatively, without re- souFces and not supplied with the common com forts of shelter afforded by forrest country. 1 Notwithstsn nding the great distances emigrants have been compelled 10 travel to reach the Terri tory, more than 100, ,000 have overcome all difficult ties and spread themselves over Its hills and plains They have been supplied rom distances as great as Hey themselves have passed, with not only the necessaries, but the comforts and many ofthe luxu ries of life. Houses have been imported from China Chilli and the Atlantic States of ihe Union l All the materials required in building cities and towns have been added to the wants ot people so numerous, destitute and remote from the sources of supply.
 These wants will exist as long as emigration con tnues to fow into the country. and labor employed ! ia collecting gold shall be more profitable than its application to agriculture, the mechanic arts, and the great variety of pursuits which iostered and sustained in other civilized communities. | This may be shown, by mentioning the prices oi | a few articles. Last summer and autumn, lnmber was sold in San Francisco al $500 to Slo0 per thousand feet Al Stockton and Sacramento City, at $500 to $500. At these prices, t could be made ia the Territory, and many persons were engaged in the business. 1 perceive, by reeent-accoanls, that the price had fallen at San Francisco to S75 al this price, 1t eaaaot be made where labor Is from Sl0 to SI5 per day, and the q, faculties attending