The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-03-26

on, down TO $4,000 The guaranty was at once drawn
signed by capitalists subscribing in the aggregate one
million and hfty thousand dollars These guaranteers are
iaton and When Il is remembered that they were them
selves already creditors of the house. this act OF
on their part the strongest evidence they could give
their perfect confidence not only In tho sovency OF the
firm, but in its integrity and honorable conduct.
large number the leading merchants then announced
the meeting that they would receive the at
par in payment sales of goods In short the whole
affair was most fatering testimonial to this pop aar
house and was striking Illustration OF the confidence
which is inspired by long and strict adherence to
camille and good faith Their transactions have
been extensive and their course Of dealing so liberal
and just, whilst the private fortune OF Mr.. Page
to be ample that IL not surprising they
joy ed the public confidence to extraordinary degree
and when It announced that they had been compelled
to suspend there querulous complaints no
picons OF unfarness is usual in such cases. on the
contrary there was profound sympathy for them In
their sudden calamity and an intense desire that they
might be able to resume immediately, which feeling WAS
most papaby exhibited at the meeting Of creditors
have commented at such length these transac-
tons because this rm has been SO identified with
prosperity and growth of California and has exerted
powerful influence upon its interests that
look upon its suspension in any other light than as
great public calamity and Is but just that it should
be known to their trends in the Atlantic States how uni
versal is the confidence repossd in them here No
doubts that they Will resume business in few days,
under the most favorable auspices, ana perfectly
stable basis In anticipation of it, confidence has been
great degree restored, and business affairs
more cheerful aspect.
For the last few days we have had copious rains
throughout the State there every prospect that the
miners win have ia right jolly time Of it," For many
months past their 'bankng operations" have been
pended for want of rain but there !. prospect that
every 'payng bank in the mining regions will have
run upon IL OF considerable duration. But fortunately
all such banks predicated specie basis and need
saety fupd arrangements to their solvency.
The pick and shovel. long toms" and 'washers"
the only teers which needed to turn out he DUST
fast customers call for 1t.
Fears entertained abroad that the mines Of Cali
fornia beginning to fall and that very 1t viii
not to work them. Nothing could be more ground
less than such and intelligent Cafor
MAN enertains them. All that need here is larger
population and considering the vast Importance Of Cali
fornia and its gold to the whole Union It is amazing
that Congress has long delayed the establishment Of
line of military posts the plains, for the protec
ton and relief OF emgrants The class OF people which
needed here unable to defray the expense of
voyage, and would not come in that way If they
could for nothing They afraid to encounter the
sckness and pells Of such voyage saying nothing of
the expense. If they come at all they must come by
land and there hundreds of thousands who would
gladly in that mode with their families if Congress
would only afford them reasonable protection and succ0r
by the establishment Of military posts at proper inter
walls. II the newspapers would confer great benefit
upon California and the whole Union, let them take
the subject earnestly, and press it upon Congress until
the end is accomplished. PACIFIC.