The New York herald., 1851-11-06

saly sum in time to meet the fyst coupons due,
with good prospect of success. The credit ofths
city depends much upon the payment of the semi
annual interest now about due. That disposed of,
and our bonds win be sought after by capitalists
for investment.
The assessed value of real estate in the citv for
the present year. is Sl7 900; of personal pro-
perty about g., 100000. The revenue which, Il is
expected, will be derived the current year, tc be
appropriated to the payment of the city expenses,
Is as fouows;-From licenses, $i00, 900; taxes,
el5O0OO-naking q total of $550, 900, dsrivabls
from these sources alone-a sum far more than suf-
hcient, fProperly disposed of, to pay the expenses
the funded debt Since the o
American Jurisdiction over the city, there has
been expended, apparently for corporation pur-
poses, nearly u. 600 900! For what, 1t is almost
treasury seems to have been the business Of almost
every man connected With the city government, or
who could get his hand into the peoples strong box
While San Francisco has accumulated debt,
already funded, of over one million and quarter
dollars, Sacramento owes only 1915, 900, which was
chiefly created by the construction of lsves seven
miles In length, and the squatter difficulties Sa-
San Francisco range from 35 to IS cents Our
money has been squandered, while Sacramento
has been more fortunate in the selection of her pub
nc servants. But in the future different state Of
the treasury of the city for the current year. in the
single item Of reduction of officials salaries, is
$4lO 2OO-a sum sufi ,ient, If economically expsnd-
ed, to pay the annual expenses Of the State go
verpnent.
The poor State capital of California has again
been on the wing, like weary carrier pigeon,
finding no spot on which it could be at rest Az
first It was located at Monterey, where the in,i
pent steps for State organic alton were tai ken,
and subsequently transferred, bag and baggage,
to San Jose, IN the Santa Clara Valley There
1t remained for two sessions, when the Legislature
voted to establish it at Vallejo, paper city up the
Sacramento river, in accordance with the appa-
rently expressed wish Of the people of the State,
and in acceptance of the princely donation to the
oats, and inhabited by Coyotas Away went tho
State oficsrs-ths Executive with ais Office seeking
applications-the Secretary OF state with his
bundles Of papers, beautifully tied with red tape,
and the Treasurer with his strong box in the shape
of hair trunk, filed with cancelled State bonds
and war loan scrip. The procession was grand and
imposing-equalled only by the army Of NJ Col
lector Kings Inspectors, who guarded the Custom
House funds from the old TO the sew building
headed by the valiant Collector himself WITH
drawn revolver. But the sea. OF government
waiting patiently for the fulillment Of tas
bond requiring the erection Of temporary build.
ings for the State oficers, ths executive has
again set the capital aaoas, By ordering it back to
San Jose, and, week or two since, 1t was put on
board a fishing smack and sailed down to the EN-
barkadero and thence crossed by land, drs va by a
four mule team, to its recent locality, where it will
probably remain stationary for yea. or two at
the members TO appreciate the advantages of bis
town by lingF their hats, during the morning ses-
sion, with blank deeds Of 'corner lo.s and "Watsr
privileges" The expense to the State in removing
the capital from San Jose to Vallejo only about
$50 600; and probably as much more IN carting IL
baek-quite small items in a commonwealth
aboundirg in gold.
The convention called at Monterey, to take ac-
ton in reference to division OF tie STATE has not
resulted in any defui,e movement, principally from
awant of concert. II is now deter mined 20 call
another convention at Los Angeles, on the 10th Of
November next, to which every county in the state
is requested to send delegates The subject has
awakened considerable interest, and the proposed
convention will no doubt be largely attended. The
politicians say "amen" to the division project.
They see in il fresh opportunity for political az
graLdizement for spoils, pla,e and power, and you
need not be surprised to see tive Callforaas knock.
ing at the door Of Congress, yeas hence, where
now there is but one.
We are now anxiously waiting the arrival OF tae
North America from San J Jaan, which is expected
hourly. The last vessel by that route anticipated
the mail steamersro days, bringing Us the HEaALo,
Of two days later date than those by the regular
semi monthly mail. FaAaE