The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-02-05
trade to concentrate at San Francisco will be aided

trade to concentrate at San Francisco will be aided
by the course Of exchange.
"Geld dust is worth ST. per ounce in Chilli. 1t is
worth $l8 at the United States Mint. II, there.
ounces in San Francisco, received in payment for
lumber barley, flour, or other produce, and desires
an invoice Of goods from the United States or Eu-
rope, he will gain $40 900 at the outset by sending
his gold to New York, besides saving something
on the freight and insurance, and at least one
months interest
"The countries on the west coast of America
have no exports which find market in China, or
other ports in Asia. San Francisco will, therefore,
become not only the mart of these EXPORTS but also
of the products and manufactures of india required
in exchange for them, which must bo paid for,
principally, in gold coin or gold dust. Neither
gold coin nor gold dust will answer q remittance
to China. Gold, in China, is not currency in any
shape, nor is ii received for port duties or taxes
on land, or on the industry Of the people.
"'Ihe value of pure gold in China is not far from
ga the ounce. Hence, the importer of tho N anu
features and products of India into San francisco,
will remit the gold coin dust direct to New York,
for investment in sterling bills on London. These
bills will be sent to London, and placed to the ore
dit OF the firm in China, frona whom the merchan-
disc had been received, and who on learning of the
remittance having gone forward to their gents will
draw six months sight bill for the amount,
which will sell in China at the rate of four shilings
and two or three pence per dollar.
81 have a statement before nae from one Of tho
most eminent merchants and bankers of New York,
who was for many years engaged extensively IL
the India trade, which shows that the profit or
gain on ten thousand ounces Of gold, thus romit-
teo, would be. ACKNOWLEDGEMENTS. 81 ,l3l IA
And that the less the same quantity,
sent direct to China would b.. $l5,6 600 90
Total difference in profit and loss in favor
Of the remittance TO New York. 80. $50 03i n
cit will thus be perceived th5t nature hss 20
arraD ged the winds and currents Of the Pacific aud
disposed OF her vast treasures IN the hills and moan
tains Of California. to give 10 Tho harb OF IA
Francisco the control of the commerce Of that
ocean, as far as it may De connected With the west
coast Of America"
The clipper ships recently arrived here, and these
which will follow them in rapid succession, wil
very soon produce The state OF commercial inter-
course pointed cut in the above quotation
The great measures which are TO give TO San
Francisco an Importance and commerce second 20
no place on the continent, except New York, are
the establishment of line Of steamers to China
and tho construction of rail way from this harbor
to connect with the railways now in pro gress from
the Atlantic cities to the valley Of the Mississippi
The electric telegraph will, of course, be a con-
c0mltsnt of this great work, and pa,e us in daily
and hourly communication with all parts Of the
Union. Many plans have been proposed for the
construction Of this line of ucation-a grant
Of public land sixty miles wide along the route Of
the roGd-an issue Of one or two hundred millions
OF government stock-a sale Of the gold region and
an application OF the proceeds to the work. II ese
schemes do not, in my opinion, merit the confden
or favor Of tho people the government | will not
stop to enunerate or consider the objections which
present Themselves to each of these projects. 1t
is well known they have met with little favor,
ana there is little probability that either of them
will DO carried into effect. Some more simple,
efficient and feasible plan must be devised, or
this important work will be delayed for many
years. BY way of contributing my mite to the
common stock Of ideas on this subject, | beg to
make the following suggestions:-Let the govern
Eent order an int Mediate survey Of the routes sup.
posed to be pra ctcable, and the location
shall have been made, offer guarantee for forty
ne %ha kDf Ia
road, to take effect on the completion Of the work
This done, the road will be made within the short.
est possible period of time, and the government
will never be called on to pay one dollar. This,
think, can be very easily shown. The number of
persons coming to and going from California,
amount to an average of about sixty thousand per
annum, at cost of not less than three hundred
dollars each, which makes sum total Of eighteen
emigration to and from this State. This does not,
Of course, include the transportation of merchan-
disc which must amount, by the present route, to
very large cum. There cannot, it seems to me,
be doubt that the receipts Of the road, waen
completed, will be at least twenty millions per
anLum. II we allow ono half for repairs and ex-
penses, there will remain ten millions for diy-
dendf--or los per cent on sixty millions-the esti-
mated cost Of the work If the road shall, contrary
to all Ieasona BILE calculation. cost one hundred mil
lions, there would still be dividend Of tea per cent
per anrum. This would be sufficient to satisfy CAPT.
talistS and protect tho government. The govern
dollars for the chi monthly transportation of the
mail by steamers via the isthmus Of Panama. For
til weekly or daily conveyance of the IA Ill
railway, the transportion Of troops government
officers, AGENTS. ard munitions OF war, tho govern.
ment could well afford to pay three millions Fix
hundred thousand dollars per annum, which would
be the interest OF six per cent per snuum on the
estimated cost Of the road-s60 600 600. The qua
rartee Of six per cent interest OF tho cost OF the
work, should be made for the consideration that me
mails, government officers. and munitions of war,
should re conveyed on the road during forty years
free of cost. so that if the calculation be we'll
founded, that the road will pay an interest Of at
least six per cen! per annum. the government will,
duirg the forty years, save more than one hundred
and forty millions Of dollars, By simply making the
guarantee.
This plan obviates oil the objections which have
been urged against other schemes, and combines
the credit ard pc yer of the government With the
energy, fkill, capital, and economy of individuals
OF course the necessary guards should be thrown
around the interests Of the government, to secure
the completion OF the work in the shortest practical
BILE period and to cause it to be wellsmapaged and
kept IN repair
Ike Of ste amers to China is required. not only
az means Of promoting commercial intercourse
but as o means and probably the best means-0f
co asst defence in time of war.
My views on this subject have long since been
not necessary to repeat them here
communication across the continent by railway
and across tho Pacific and Atlantic by ocean stea
ners, will make San Francisco the great point to
which the commerce Of tho Pacific will converge
coat OF China, the Indian Archi pelago, Austraa
and New leland, j pan the Philippines, the Spice
Islands etc, etc. The subjoined table Of distances
will show this, as have already show our position
commands the trade Of the Ane rican shores of the
Pacjnc:--
liz ! !
1888