The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-10-19
rra,,c,.o, the p.c,sas,s,

IProm the Pacific Nsss OF approximately
Since the selling Of the last steamer for thc
States, our city has passed through financial en-
sis and excitement which have never before been
witne "A, IN midst Immediately after the de-
parture OF the steamer, the surprising announce
mcnt made Of the failure of oar Of the mtset
extensive banking and trading houses, which was
followed by "A suspension on the part II two o;her
houses, and one private banker. These failures
ores they may be more property called, in all but
one or two instances, susprnsions-cau an uu-
usual excitement m business circles. Depositers
imme dia,cly commenced run upon The Other
banking houses which continued Tor Two ar thr,v
days, hut without any disastrous results. Checks
were promptly PAID 10 The fullest extent, with the
exception cf one house, which 81 rsed Gu the So
sure "a BE- again restored and those bankers which
have passed throu n the ordeal, may now be re-
garded as occupying better position than before.
Another subject which has engrossed much at
teniIcn, and which Il stu regarded a. one of great
importance 20 the STATE IL that of calling an extra
ession II the legislature, with a vie 20 coasult
upon matters connected with the financial embar-
easements under which California finds herself
lahouDR. One princilsl reason for such course
is found in the f,ct that, under the constitution.
the fret LeeslluIc alone has the power 10 nutho-
NE aud negotiate q loan To DO this, would re-
qure an extra session, end the matter has been
yrayely enituied. without, as yet, coming to any
decision a cali has been nunsrous,y signed for
public meeting, but no day YET designated Tor is
assembling. II will, undoubtedly, be deferred un-
az sitter the next advlces from the States, some
eight DAYS hence, HOPE still encourages us thst
Congress y ~ yet do something In regard TO our
admi .son before it3 adjournment II II does sot.
we would not undertake o. answer for the course
OlCaliiuInie.
The people Of California still look with interest
"a the action OF Congress touching the question OF
admission. snd are watching the course OF par les
aud individuals with that closeness which IL mar
be- supposed the importance Of the question natu-
rally induces They have knocked quietly ai the
door OF the Union, for admission, AMI have waited
with all the patience OF law abiding Americans Tor
an answer 10 the suramons-one way or the other.
Which 10 o. all be, let Congress elect, and then u
will be umo for California to act accordingly.
The next news from the Atlantic gave the Cali
fornians the INTEL gsnce OF their admission to the
UDion.-Ep. llERAtDl
Nominations are being made throughout the
STATE, Of candidates 10 b. supported at the ensuing
tlccuon tor the various State, district and county
offices. The election takes place on the seventh
Of next month, and will assume far more OF party
feature than former sim'ldr contests. AS general
thing. we have doubt iudicious selections Of
candidates val be made by bOlh parties. Men see
the importance, ia view Of a contingency that may
aiisc, Of filing ihe Plnces OF uust with men VIII.
will act promptly and decidedly.
The expedition which sailed in July last to the
Klamath and UmrIna nycrs, has been far more
successful than was generally anticipated Many
new discoveries were made, and Information GAIN
ed IN regard 10 region Of which but itil9 has
heretofore been known, and which cannot fail 81
being ~ much Practical use IN the future. Tho
company entered rrc.cmpiion claims. marked oct
sites for sctlemcnts, and lett part OF their num-
hcr TO occupy In their absenCe, aud prepare for a
return Of a much larger force. They discovered
several rich plscers Of gold, some Of the ore from
which hes been exhibited 20 Ne. The company en-
press their finn conviction that the South fork OF
mgqua and Roguc's Rivers are as rich Ia gold
any nyers in California The entire report viii be
found IN our steamer paper iof the states.
From tbs mining regons, although the accoJnis
ara conflicting, hey are generally Of an eneour-
aging character. larger amount Of gold viii be
taken out this season, than during any former one;
but IL viii be divided among much greater num-
her al miners, with, perhaps. less per man than
has marked the rasi. Large fortunes viii not be-
frequent, bst an abundant yield Will rtsllt from
Perscyering labor The quartz rock, par iculsrly 10
The Marposa mines, is yielding rch retufa, WITT
ON encouraging prospect for snii greater aonn.
dance when the machinery for crushing the quartz
shall be put into successful operation.
From Oregon, we have encouraging sccouais. o'
prosperity. New towns arc spfingng uf e eNtEN
accsssiile point, and a comucrcial inercs. BENG
awakened that il highly cOmmcndablc. lhc ire
gucncy Of communication by steam bctNes IN Cali
fomia and Oregon, strongly ideniihcs t.sif M
rom our more northern Rcighbora, and, inrctnrn.
md ibcn hare 81 thu rich mineral tscasnrss a
Simrroycrenis Ia Sas Francisco asc now going
6ory.sfd with greater rapidly thaa ever. Tb,,
"barnt iisihctF IL completely covered With build
ipgs, many &C them being tyn, throe aud four
story bTiek blocks that would NO. dargace ciiy 81
hall century. growth Ia the older States. The
streets afe being graded plsricd and drSincd, and
cher desirable prepneiic1s "a ,dc iur he rpos
seasoa. which is near a, LGnd.
Rusaess pencrslly Is hsacin1 -, aal issansar
= krff tone | The city iislyhich has 1een 'rer.
i@cnty 20 thirty cents D, low par, u ais an,tag -
.l maaH I'D ihe gobsb.,iY - that laxss srii-,