The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-09-24


the mines for the ending Sept 1st 1885, at two
hundred millions Of dollars This is enormous and the
effect Of such stupendous accession to the gold
rency ofthe world must be INN But small portion
Of the found its way into the channels Of
The gold dug from the plsoers Of California has yet
bulk Of IT is distributed the world and It win yet
be time before 1t will be very ssnsiby felt The
impetus which has thus far been given to public and
private credits the imitation already realized in prices
for nearly every species Of property the confidence
entertained relative to the future and the fsariensss
with which all inter- into mercantile engagements are
the result Of the great and steady increase of capital
and the accumu atien at certain points OF the
necessary to carry on the most extensive Numerical
transactions No apprehsnsions exist relative to the
future. No one seems 10 doubt, for q moment, that
the facilities for conducting trade will be equal any
legitimate demand, and the is consequently no re-
strction of credsno fear Of an imms date revulson
must be expected that this state Of things win lead
to speculstion-that those who have the will
turn their attention to speculation n.stocks and that
the excitement growing out OF such operations will
suit in Of those reactions which heretofore have
been runous to certain parties The abundance all
our products will doubtless prevent undue speeula
tion in any but prices will be gusran
teed and the assumption considerably increased, by
the general prosperity existing among all classes.
Every species of enterprise will nnd all the necessary
aid for development and the progress every branch
Of industry cannot but be most rapid. Agriculture,
manufactures and chanioal pursuits will receive an
impetus that will place the country generally far in
advance Of present position and the increase po-
pulaion, growing out Of full employment and extern
sye immigration will make us greater consumers Of
our own products and Of and enable
to depend less upon supplies from abroad We have the
mineral wealth the basic of currency and credits within
our limits; we have an extent of territory capable OF
providing food for almost the entire world facilities
for the establishment Of manufactures for the produc
ton Of everything the imagination conceive with
modes Of communication between the most remote
sections OF the counry of the pest rapid
charactor-with population of the most energetic,
enterprisng nature doubling itself In numbers every
twenty years at the extent in fact everything
sary to make the greatest and most powerful nation
on the face Of the earth; and reason why
should not reach that position with the rapid
strides. We have nothing to fear from legislation at
home or abroad We ask no fsyors of England, any
other European power in the great struggle for
mercal supremacy, but depend upon our own in
domtsble perseverance in the pursuit of any object
and in the enormous resources Of own country
California has FASTENED the nation so devoaIy
to be wished. and with the command the possession
Of her inexhaustible mines gives the repre-
sentative Of all wealth, we cannot only place
country upon the highest pinnacle Of prosperity but
populate countries on the Pacific, give aid and
support to neighboring republics, and put a uietus
upon every attempt at foreign Interference with the
political affairs Of this continent.
From the position in which cotton Is now held
sbrosdthe only shadow of stock properly called
being at Liverpool-we think the next steamer will
bring firm market at previous quotations; the next
steamer after I'D. advance, In to the storm
accounts and the nett steamer after that also ID.
advance, from the unreasonable weather after the
storm. This will bring mddling bowels and New Or
leans up to Sd. Here it is expected, there will be
short lull usual when cotton arrives at even
figure but from that point, decided advance again,
with large speculative transactions say to I'D in
a week. From the accounts which have steadily
deceived from the South for the last three weeks IL
rendered quite doubtful any spell Of hot weather
frem this out, would bring into the ports 100000
bales and fears may well be ent crtaned that the crop
may be reduced to about 900 ooo less The stocks
Of cotton goods all the continent Of Europe
very light as Is also the ease In Great Britain The
principal there under contracts for
two months yet for the Russian and Greek markets.
and by the Canada " raw q letter from . leading
broker in Msnchestsr, stating that thirty min.
cotton mills have commenced and will commence.
operations this year In that district alone This etsb
fishes the correctness Of our position In April and May
last at period when the whole cotton interests Of
country we're swinging in the wind-when, according
to the Manchester Guardian most Of the mills In that
district had reduced their time third and dark
was the prospect ahead, so enormous the stocks OF
goods on hand the home trade being unable to buy.
om the very low stage Of the produce markets that
every steamer day for the United States favor
cd with the startling announcement that the I'm
mense concern Of Eessrs. fielden had stopped
. portion ef their machinery again; and. finally, so
wrought upon they by their sympsthies fer the
interests Of spinners and far of did the dis
ant ray of hope appear In the future that they would
shortly stop altogether. This gun relied the
anal discharge at planters and American shippers and
whether they authorised such statements or not is
immateria as they were openly and repeatedly held
out In the papers OF that district pursuing this
course and II contrary to the fact they could have
psid So Their numerous agencies In the nitsd States
were alec considered inimss 10 the movement on thi,
side which to hold up short crop until foreigners
we're disposed to pay the American estimate Of its
value. New, we take some credit to ourselves for
exposing this holy alliance and urging planters to
persist in abstaining from marketing their crops
whether cotton IL speculation not at the quota.
lions we notice under our market head, unable
to say but most certainly there Is q great margin
now open for the soundest investment.