The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-01-11
the california Gold Flood.

y
flood has already affected the money market Of the
world There denial OF the immense mass Of that
MEAL announced as ~ present ln sxistsnos; on tue
contrary thersi daily confirmation OF the authenticity
OF all the statene made the subject together
with frequent of new discoveries which
throw the presiding entirely into the shade Every
steam from the world brings large quantity OF
silver or gold On freight and those vessels-H NJ g.
Pandora fer instance Who com. round by Cape Horn
their this country from the northern shores
Of the Pacific, bring along with them immense guam
titles Of that precious cargo The Pandora had nearly
q millions worth Of California gold board; and the
West India packets from Chsgres rarely arrive ct
Southampton without cargo Of the OF close
approximate value. Under these circumstances, and
assuming that not ess than three millions OF Caornia
gold has found its way into England no one doubt
that some grave and mighty change Ia at hand In the
monetary value Of ell property If not In the pecuniary
condition Of the Engh people.
At this moment the amount Of tho precious metals
sixteen millions and half-( c ssOi76) Where did
that sum come from II large proportion of 1t be not
convused TO the centre In 184S when thrones and do
'mipiops topped to their overthrow-whrn the fsar
Of change perplexsd monsrchs high and Iow-thers
was peace in England and security also and couss.
quenty, the money capital Of Europe, which not
hurried in the earth or hidden by It's owners
found tts way hither In vast quantities hesping up
and encun beripg the subterrsneau deposits of the
bank But there IL peace the continent nov; order
has reigBed for some time under the auspices OF its
guardian angels" Is Baron Haynau styles the Crost
soldiery and 1t IL on all bands admitted that by fer
the greater proportion II not the whole Of this fug
tive treasure has found its way back to Its original
receptacles. In the period OF greatest - flush" as
regards money, since 1874 at which date the Bank
Charter Act Was revised and passed In its FORM
there not BY much such abundance of the pre-
cious metals in the bank cellars there Ia this
mont though 1t is we'll known that boards which had
not seen the light for half a century we're then dis
ersed and combined with the general circulation Of
The bank of England has reduced the rate Of dis-
count from per cent to 2L per cent andiu Lombard
street 1t IL certain that almost any be- had
upon call rs IL IL termed that Is to say for imme-
late return when required by the lsnder-st per
ent les But there Is no Improvement In the general
oucton in the value Of money lent loan; manufsc-
turers do not allrge that orders" frequent
than before. merchants no busier in making ship
ments than usual while the mass OF the community
engaged In trade commerce, better off Ia
pecunsry point Of view than they twelve months
ipdetsrmnate period Whence, then, Is this Immense
increase in the bullion Of the bank derived II IL DO
not from California What gives still greater counts
to this conclusion IL the fact to be found in the
weekly return Of the bank made on Friday viz that
the silver bullion deposited in the cellars only amount
ed TO EFT OF. While the gold coin foreign and bull
lion was fl5 ,293 34S.
From the London Daily News, Dec 81
From several private letters which we have seen
from ports Of the Pacific well from the accounts
Of Intelligent persons recently returned from thence
should judge the California fever That thirst for
gold and sdvs nture epdsmzing the old world and
the new % BY no means yet at its height. The
dgRings and washings of the hundred and fifty thousand
powerful and greedy men who have pounced upon the
aurerous region. had shown no signs OF exhausing it.
The old boast, that there bread enough for al
In the continent s thrown into the shade by the
sctuai ana DAILY oi'covery OF gold enough. three
pounds sterling DAY Is the average amount OF .
ttropg mans ndpg, or . strong mans working And
although there some bad chances, some obstinate
Nons Leaos. some un!uoAy ooss mere are s,mose ~
stumble what they call pocket of gold In the c.vi
nss Of tne Iock ana VINO tnus repay In an noui the
face Of California is however bed Of reses becomes
app.Ieh. rum .us anAey Vi even the most
they have scaped together not fortune but the bare
eenmenesnent Of one man with aftssn or twenty
tnoutanc collars snnns nlgn time 20 ls,s snofs
life, and where however enormous the gain, the OK.
pent 10 any 10 comIort are sucn Is
even them Fron forty 70 one nunored tnousanc ool-
lars year 10 the common house rent Commodities
are inoeed aounoan. anu cheap, u ono oouis sso.o
them cloth to be had for an old soFg but costs ts
weight IN goia 10 De eonver.soto npParei merce
nss pouree hee' "a rum eIeo W Iou, nuno'ee .ss-
se,s 'nio .ns I. ,n t, $500 ssa IN r re
Ne1y Lverpooi IN lnis 30 issey aesel. nooA on tas
o,po' ou' no' ono '"eA'y "~' o""u p'0n'a'as
ssS --.-,
. y" t1e,e nAvo couocnIa,eu an Tug nomso Popula-
ton and all the resources o. the racine livery Euro
Pssn ~ p y. s ~ I'm S III, ssu
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