Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1854-06-08
ttlt5fellansous.
Correspondence of the Green Mountain Freeman.
LETTER FROM CALIFORNIA.

LETTER FROM CALIFORNIA.
SAN FRANcIsco, April 80, 1854.
| Mr.. EDITOR In my last, on account of its
length, l omitted any reference to the state of
business matters in this city. For six months
prior to my last date, mercantile affairs here
had worn most unpromising aspect. Few of
the numerous departments of trade have realized
on amount of profit more than sufficient for their
monthly expenses. And the effect of excessive
shipments was seriously felt in all branches, not
only Of trade, but in the various mechanic arts,
and in the agricultural and producing interest
of the State.
The enormous and continued shipment of eve
ry variety of Goods to market already glutted,
was most astonishing, and amounted to infatua-
ton, in dealers at home, for it was kept up in
defiance of the warnings and entreatieS, and in
full view of the most disastrous returns or ac-
counts of sales and charges from factors hero.
For ir'stead Of prompt return Of sales easily
effected, and exhibiting large margin of net
profit, the shipper has been constantly met with
reports of no sales-storage at $500 per ton
per month, and money hired at three per cent
month to pay the same and other charges. And
for long time, the appearance in our noble
bay of merchant clipper, instead of attracting
crowds to the wharves, and being hailed with
pleasure by the mercantile community, as af
fording them an opportunity to replsnish their
exhausted stocks, and a surety for further pro-
fits, created rather "a feeling of regret and dis
gust.
But during the past month financial and bus
iness matters have put on a more promising
phase-shipments from the home States and
Europe have materially decreased, and prices
have advanced, in some instances fifty per cent.
Traders who have come down from the Sierra
Nevada and the plains Of Oregon, with the ex-
pectation of making large purchases at their own
prices, are obliged to curtai their bills, or buy
on credit-their supply of slugs being made
quate to meet the large advance in prices over
their last advices. This advance has not, how
ever, been attended by corresponding demand
for Goods-but is owing in part to the falling
Oft in shipments; but more especially to the
war-like tone of European affairs. as per dates
BY the last three mails. And if the steamers,
but Tomorrow, bring news that the torch of
general continental war has been ignited on the
Danube,t the effect will be to give increased firm
ness to present prices or still further advance.
But if the Gar backs dopn, those speculators
will grin most ghastly smiles.
Our city is to-day unusually stirred up with
the hustle Of preparation for departure, on the
morrow of the steamers of three distinct lines
with passengers for home, many of them sue
cessul miners. Fares are low, and people arc
disposed to improve the opportunity. The new
Independent Line bears the PALM Even the
Nicaragua--so plethoric with patronage the past
year, and the sometimes drowsy Mail Line, is
obliged to succumb to tide of popularity which
seems to be bearing the other to higFi niche
in tho public favor. People like low fares and
great speed, and both seem combined, in an emf
nent degree, in the new line. The quickest time
between this city and New York, claimed by the
Mail Line is twenty-three days; Nicaragua
twenty-five; whilst the last trip of the Indepen-
dents Steamers was made in twenty-one. Com.
Vanderbuilt, who with his beautiful North Star
couldn't humor the tardness of Autocratic move
ments, and who is confessedly the king of
steamboat and steamship operations, has now in
these Pacific waters, the Yankee Blade and Un-
Gle Sam, both well appointed and fast steamers,
and though not professsng to be au fat in such
matters, they seem to me to be most beautiful
models, and certainly they have proved in point
of speed triumphant specimens of marine arch
itecture. This company, also, furnish transit
tickets in this city, and in New York, which
completes the chain of through tickets, and, un-
incumbered by large amount of mail matter,
they offer unusual facilities for speedy and un-
interrupted passage between this and the Allan
tic cities.
Since my last, have made the trip to Pana-
ma and back. On the return, we passed in full
view of the mournful wreck of the Nicaragua
Steamer Independence. Two hundred Of the
passengers Of that ill-iated steamer were in