The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-07-15

Half million, million, million and half
Of gold arrive here every two or three weeks,
coneigned to half dozen individuals-the
same individuals by every steamer. To whom
does this immense treasure belong? Whittier
does 1t all got
The Weld OF the California gold mines, after
reaching the 81 ports of the United States, has
again been distributed broadcast over the whole
country. The bi monthly receipts of gold dust,
usually consigned to few persons, actual
Iy belongs TO, and is forwarded to hundreds, If
not thousands of individuals, scattered over
the States, from the Atlantic to the from
tiers Of the West, and from Maine or the
Lakes to the Gulf Of Mexico. Almost every
town, village and hamlet have contained
recipients Of gold dust. Moreover, every Cali
fornia steamer arrives crowded with passengers,
among whom all the States of the Union are
usually represented. They land possessed
with more or less gold, obtained, 1t may be,
and most commonly is, by hard digging in the
mines.
We learn from Messrs. Wells, Fargo & Co.,
that the large sums Of gold dust consigned to
them have drafts drawn against them, which are
very numerous. Thus, on one occasion, the
list Of drafts drawn against the consignment of
between two and three hundred thousand dollars
worth Of dust, filed about thirty pages of
large size cap writing paper. These drafts en-
braced every variety Of sums, the greater part,
however, being small, or Tor moderate amounts.
They ranged from five dollars up to five or ten
thousand. They belonged to every State in the
Union, but chiefly TO the people Of the Western
and Eastern States, the extreme Southern States
being partially supplied by consignments
received at New Orleans. The usual practice
with Messrs. w., +. a. Co, Is to dispose OF
gold, or deposit il with the United States
Mint or Assay Office, get certificates of
the same, or draw coin In exchange for
bars, make deposits OF il in reliable city
banks, aud hen check or draw on the amount
In pay ment Of the numerous drafts forwarded
against it In favor Of parties scattered all over
the country. These documents can be cashed
ut any Of the banks of the interior. In other
cases, having deposits to their credit at their
Interior express agencies, or in country solvent
banks, they forward drafts on the same, piya-
bic at sight, to the receiver Of the draft, and on
shipped. The owner OF the draft can, IL de-
tred, In all cases, receive the amount in specie.
The consignees, in this case, only act as distri-
butcrs Of the wealth forwarded to the States
from California. for which they only receive
fair commission for their risk and trouble.
Such an arrangement proves Of great conve-
nience 10 the miners, their friends and families
for there Ia no other mode In which q poor
digger, on the American fork, or on the Yuba
river, can send his $40, $40, or $50 TO his
wife, children, or widowed mother residing on
the banks OF the Kennebeck, Illinois or Wabash
rivers, SO safely, so cheaply, or so quickly,
az by this wide spread arrangement.
The result is, that the great West, which
used TO he rich only in lands and cheap living,
while poor In money, (and nearly every thing
else) the great means Of progress and improve
ment, has undergone Q great change. The
high prices obtained for her cattle, her bread
stuiis and provisions, and from the broadcast
distribution Of California gold among her
people. has increased her wealth wonderfully
and brought her TO q nearer level with her
older sister States OF the East.
IL was formerly the case, that even a short
railroad or canal could not he undertaken at
the West, until II could be a.certai3ed whether
the money could be borrowed In Wall or State
streets Now, the capitals Of large and profit
able railroads and other important improve
ments are chiefly owned and consro led
at the Wet. Indeed, Cincinnati now trans
acts a larger business in stocks and bonds THAI
New York did some twenty or thirty years
since.
This great distribution OF wealth, with the
rapid growth and Improvement OF the whole
country, forcibly illustrates the value o. our
glorious Union, based upon the principles of
our wise constitution, and the free Institutions
established under IT,
PROGRESS on rHE RAILROADS. ASpGAs
LIGHT ~ lowA.-we lately received the follow.