The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-06-03

nd California covered with an immense population -
xnslAnt found Indie, dali soon cover its fertile
plains with people and Its beautiful bays and rivers
with vessels Of all kinds and Of all nations We ahsli
buf up markets foe and products Nm
Sshcrnis and throughout the entire Pasne coast and
country bordcisg it, and beyond it, as rapidly a.
The manufacturers Of Great Britain made markets in
India for their fabrics. But for the enormous con-
sumption Of British goods in the East the wealth and
power cfGreat Britain at this moment would have been
Hman compared with what IL Is At the time K England
obtained military foothold in that part Of the world
her manufacturers in their infancy and the en-
tire consumption Of cotton in Great Britain did not
exceed two hundred thousand bales equal to about
enc quarter Of what is consumed in the United
States. The same impulse the acquisition Of India
to the interests Of Great Britain,
tho acquisition ofCalifornia viii give to the manufsc
turing interests Of the United States which with the
Didty Of our consumption, land progress in mer-
chemical arts is Strengthening domestic manufac-
tsres and will in less than twenty place far in
advance ofths British a manufacturing nation Pre-
vicus to the acquisition of Calforna before anything
was known relative to its immense mineral wealth.
manufacturers under all the variations in the tariff
progressing prosperously, and productivity that
competition had sensibly reduced prices and largely
benefited consumers 1t is not altogether the imme.
aiate consumption Of manufactures in California
that is going to be Of such vast service to this interest
but principally to the great amount Of capital shall
obtain from the country for the development Of all
resources, agricultural and mec hanical well the
manufacturing. Independent Of the frequent changes
IN the tarif-which injurious than any per-
nansnt per cent duty, matter what it is-we have
been really In want Of capital to continue and carry
establishments large enough to meet the existing de-
manda Every important interest Of the country has
suffered and at times been sensibly depressed by sima
sasses 1t will therefore be readily seen, that Cali
fornia could not have yielded a better product,
one necessary to secure and strengthen pre-
sent dros; Gritty the found in her soil in such
abundance.
Thv amount Of gold already produced and put into
circulation in the channels of commerce. has given an
impetus to every branch of industry in this country
and we probably never was, as a people in such
sound, healthy condition, at this moment
Every emigrant who sets his foot upon our
shores, finds full and profitable employment; labor
OF all kinds is remunerative and although We
hear occasionally Of some over grown, sxtravagant
manufacturing corporation, extended
specializing mercantile house. having temporarily
pended operations suspended payment it is evil
dsnes in the world that those classes generally
In prosperous condition. Such things happen in the
best Of times; and until compel people to at
tend strictly their legitimate business and conduct
that upon sound principles and judieous economy,
cannot prevent these occasional bankruptcies Cali
tornia has made thousands rich, and given thousands
agreater portion Of the neeessarcs of life than they
had before This has Increased largely the
sumption OF the principal articles OF commerce and
the influence therefore felt throughout all the rami-
fsatons Of trade 1t has given impetus to imports,
and in SO doing has provided the Of payment.
The mines of California will suffice to lquidate any
Sebtedness may contract abroad; and the produc-
tion Of gold in that country w,u find ts way to the
utmost ends Of the earth in payment for the products
Of the industry Of every nation. In this way every
country will be subservent to our wealth and we
shall be able to command in exchange whatever our
Necessities or our extravaganza may require One
thing IL pretty certainwe shall get the value of
gold in shape and the wealth Of every country
lie In the extent and variety Of its products shall be
immensely rich not ouly in the of own
industrial pursuits, but in the materials have In
such abundance to exchange for the products Of other
countries, which sought after when demand
kts for any other.
We have but just entered upon this era in our COM
nercial and financial history, and we become Devil
Sered in contemplating the progress Of this country
and the influence 1t viii exercise upon the world st
large. With unlimited extent Of territory, every
varsity climate rom the equator to the north pole
apeope superior to any the face of the world for
energy, enterprise, indomitable courage and perse
vsranes, economical industrious hardy, enduring
well the heat Of The tropics the cold Of the frozen
regions fond Of adventure, continually seeking new
fields for toll and danger In fact possessing all those
qualifications essary to develope the OF
sssh country 1t has been their good fortune be
placed In, cannot be otherwise than the most pow
srful nation In the world, in few years It requires
very fast to get far In advance Of the age in which
ne live.
The annexed statement exhibits the quotations In
this market for the principal speculative stocks for
M Week at he N n
week previous. Prices have fuctuated considerably;
but the closing prices do exhibit any variation Of
consequence
ovorArfops von rvp PA sroc~s m - w.