The New York herald., 1850-02-08


Rsssuse We have not received as m,uy millions Of
gold santiop IN the early history OF the more
msnt, from California, it does not follow that the
mines have not been immensely productive IL
is estimated that full Eve dollars Ia gold have
been sent to other parts sf the world, where
enc has been sent TO the United States When this
CsiforEis mania commenced, the South Ainsrcas
markets, on the Pacific, crowded, fairly giuttsd
with Brish manufactures and ndss of all kinds
Owned by English houses These goods were at oa,s
shipped to San Francisco and prices obtained
on their arrival British merchants for long time
moBspoised the markets OF Csforui. aud made the
most OF them The bulk of the shipments Of gold ,is
from San Francisco during the past year. has been In
payment for these goods; aud the destination of all
gold sver belonging to Brth houses is london, to
that point millions Of dollars IN gold have been for
wsrded from the mines Of the Sierra Nevada This ao.
counts fer the small amount Of gold, comparatively
thnt has reached this country. From this time for
ward remittances to the States will be large and it IL
our impression that each sem,-monthly steamer from
San FrsDcisco will bring down at least million Of dol.
lars for this port We just beginning realize the
proceeds Of the sale OF merchandise shipped from this
part of the world to California aud these payments
WILL doubtless continue at the rate of two three
millions of dollars per month. II will require ship
ments Of gold to this extent to bring up aud
forpia
1t having been pretty clearly demonstrated that the
mines of aornia sxhauibe an that they cover
nearly the whole Of that section the world govern
ment should adopt method realize some of the
benefits Of such valuable accession of territory The
only way this be done to the greatest Is
to bring the mineral lands into the market in small
sections and sell them to the highest bidder Due no.
tice given Of this course, would bring forward i'm.
competition, and government would realize an
enormous amount Of money from these lands. Toe
purchasers would be confined to American citizens but
through them the capitalists Of Europe would invest
the bulk Of their immense wealth; and should at
once realize enough to pay OFT national debt the
entire expense of the Mexican war; and sufficient to
construct railroad from the Atlantic to the Pacific
All this might easily be accomplished by proper ap
preparation Of the wealth in the possession Of the 60
vernment The people Of all nations mining and
carrying of this mineral wealth, and thus far the
government have not been benefited one farthing It
Is time to make movement in this matter but We
have NO expectation that Congress will abandon the
sabsorbing slavery question long enough to give this
subject the attention it deserves aud requires
The Judiciary Committee of the Senate OF Penn
sylvsnia have reported bill providing for an i'm.
portant and proper alteration Of the Law Of tha.
State relative to the legal rates of interest The prn
cipal points In the bill are that may be lawful for
to and receive such rate Of interest for the
loan Of money on any promissory note, draft accep
tance bills payable bills Of exchange drawn FOR any
time not exceeding twelve months, growing out OF
or business transactions contracts there
for ~ The parties may agree upon writings but that
no greater rate Of interest than per cent shall
charged any judgment after the date Of the rsndi-
tion thereof entered in any courts Of that
wealth. although such udsmen mt may be founded upon
. writing stpulsting higher rate Of interest The
act shall not be construed to apply to any loan where
the sum or thing lent shs be assured by any grant,
charge or iucumbrance Of real estate any loan
On discount by any bank or banking association.