Daily Richmond times. [volume] (Richmond, Va.) 1849-1850, 1850-03-14
CALIFORNIA.
Correspondence OF the Commercial Advertiser
San ER Ian 2lSt 1870

Correspondence of the Commercial Advertiser
SAN Francisco, Jan. 31st, 1850
Conference.-The unparalleled fuctuation of this
market precludes reliable quotation.
Stald business men IN the States will shake their
hea DIS at the information that 10 per cent per month is
paid for money on call, and the newly arrived mer-
chant stands aghast rents OF $4,000 and $75 900
per annum for shinge warehouses; which at home would
make but respectable bans yet the shrewd sagacous
capitalist, who on touching the shores of California
oraculary pronounces every body crazy and resolves
to keep cool and profit by the folly OF Others has no
sooner numbered few weeks residence in this CITY of
mud and money than he becomes crazed the era
zest The fact is indispntable that capital may be
doubled In few weeks. True it's by speculation, but
the basis is legitimate. The tide of emigration from
the whole world, the immense influx of ships and
merchandise consumption for the interior and new
y created but already large export trade all indicate
is soon to be one OF the most important
ports in the world; hence the rapid rise of real estate
from merely nominal prices is but reasonable SO long
prices do not exceed those in other large seaports
Probably lots IN business situations sold at prices
not greatly fat ALL exceeding those of correspondno
lots in New York. but the strange anomaly is that the
same price is required tor years rent payable month
ly in advance, and even this is reerabe to favorable
feature in the speculatons othe place and tme name
y, that banking and paper money are prohibited and
there no credits except in limited instances Tor thir
y, sixty ninety days, and occasionally in sales of
land which cannot be Immediately improved three and
six months
From these circumstances, and also from the rapid
fortunes in real estate operations to be called from
temporary employment Of capital, arises the high rate
of interest, rather than from any extended inability to
meet former engagements.
With the influx Of capital from abroad and from the
mines, and with the increase OF supply in lumber and
houses the rates Tor money and will decrease to-
gether The greatest disparity in the price of real
tate prevails in different situations building lot bor-
deriug on the harbor will command perhaps $25 O0O
and good lot for residence within haa mile may be
had for 800. lhave view good water lot facing upon
wharf on which, at the presnt price of lumber can
tho bOla
not exceeding $4,000. Yet such store would co M
mand rent Of $4,000 per month.
The crisis which many have dreaded is yet in per-
spectve, where we all hope it may remain. A change
take place. and there will be failures but as
there no extension OF credit in the country and real
estate certainly must continue worth large advance
over former rates, and as the Sacramento Bank con-
tnues discount literally in bullion, there does not seem
to exist ground for much apprehension.
Many substantial brick houses and stores are in pro.
oterection, and much otaste and eegancei dis
PLAYED. Cur friends at home have erroneous idea
of city, and indeed resden who have been absent
a lew months asonished at the growth of the
place Ola population ofprobaby 900, perhaps TO-
900 live in tents or on board ships; there is album
dant lodging room at prices varying from 81 to $50
per week; board from Sl2 to $50 per week, without
lodging
Our hotels and restorateurs abound with deicacies
and substantias, and with long purse at command
the most tastdous enjoy all that the Astor or IT.
wing will afford, and some additional luxures The
wealth Of wild game and cattle about the bays is pro-
1igous Beet OF exquisite flavor and tenderness Char
actersc of all the meats OF California though rather
1eleterious to the newly anived) has been sold for
our cents per ID. Market prices generally Is 25
very common has gained currency that this
country is wholly inadequate for agricultural purposes
This impression arises from letters written by miners
rom mineral districts 1t is absurd expect gold and
wheat from the soil; the agricultural districts OF
California do not lie in the path OF travellers to the
mines; they are limited in extent compared with the
mining districts yet large enough to employ profta-
'y population certainly as large the present popu-
alton OF Ohio-hat is in agriculture and the grazing
m the South, and the valleys of Sonoma, Nappa and
'usun, North Of the bays, are perfect gardens and
Without irrigation produce large crops OF wheat and bar
ey, com is comparatively impractcable) Delicious
eas, peaches figs and grapes grow abundanty. The
potatoes and squashes ever partook of were pro-
uced in Sonoma.
Wild oats grow all ouer the country and crops OF hay
nay be had Gd Hbitum. Many turning their atten-
on to farming and gardening and find it profitable;
md for farming purposes is cheap If were consulted