The Placer herald., 1857-05-30
From the San Francisco Herald.
California Gold Seeking Investment at
HnYno


States, in consequence of the falling off in
the expectation Of gold from this port, OBJ
serVabie during the first couple of months Of
the present year. Our Washington cores
pondent, in his last letter says:
"Some alarm has been manifested in businesscir-
cles by the suggestion that California gold is Civ
ing out, and a terrific revolution in our paper
credit system must follow, and the inflated prices
of real estate everywhere undergo collapse
It is very natural that alarm should be felt
by spectators in the Eastern States. 1t
would seem that they have based their opera
tons upon the hypothesis that California
would be to them neverfailing source Of re-
lief; and that the same state of affairs which
existed in the early days Of the State would
continue to the end of time; but they have
calculated very widely from the mark. 1t
will be seen however, from some statistics
copied in another column, from the Prices
Current, that there has been but q very
small actual decrease in the shipments during
the past four months of the present, as
compared with those of the same period last
year. But we are by no means certain that
the close Of 1857 will exhibit similar state
Of facts 1t is our deliberate opinion that
the expectation of gold this year will fall
considerably below that of any preceding
year since the settlement of the country by
the Americans; aud the cause is not to be
found in any real or supposed giving out of
the mines," as it is termed in the Eastern
States, but to the gradual development of
our agricultural and manufacturing 9 resour-
ces
In the first place, we raise more flour bar
ley hay, and oats, than is necessary for our
consumption We have done so for the last
two or three years; and, in 1856, when mar
kets in other parts of the world offered q
profit, we exported largely. From this alone
reduction in our annual shipments Of ten
or twelve millions of dollars, at least, should
be expected. Ia this connection it is prop
er to mention that, recently, a great deal has
been said about the damage done to the
growing crops by the drought, and some
very foolish persons have gone 50 far as to
persuade themselves into the belief that there
will be a scarcity; but it is the opinion Of
those who are as thoroughly acquainted with
the subject as it is possible to be, under the
circumstances, that Notwithstanding the
damage which has been done the crops, much
more than is needed for our consumption
will be raised, and that if the season had
been in every way favorable, the yield would
in fact be sufficient for orr support for the
next topr years.
Again, the curing of meat has been quite
extensively engaged in of late years in Ore
con; and this domestic article now enters
largely into consumption. 1t is probable
that before long, the Territories to the north
of us will cure more meat than is necessary
for their and our consumption.
Again, the recent advance in the price of
leather has giving a considerable impetus to
the trade in hides, which in former years,
constituted the entire foreign commerce Of
the State Of California. Large cargoes of
hides have recently been exported from this
State.
Again, butter and cheese are manufactured
in large quantities by our farmers and arti-
cles of foreign production particularly butter
have been driven almost altogether from the
market. Fresh butter can now be bought at
retail for the same price as foreign butter.
Again, the manufacture of wine has been
quite extensively engaged in of late, and ma
tive wine is entering very generally into
consumption. 1t is now almost exclusively
used for sacramental purposes. Our vine
yards are capable of producing white wine
claret, port, brandy, and experiments have
been made in champagne, and with success.
Our vineyards at the present time are capa-
bic Of producing over twenty millions of
pounds of grapes annually.
Again, the business of manufacturing ma
chinery for mining operations is carried on
on very large scale. In some of the man
utactories Of this city, the sound of the ham
mer and the putting Of the engine never
cease, night or day.
Again the business Of refining sugar has
also been commenced, and it is probable that
before long the Sugar Refinery in this city
will be able to supply the State with this ar
ticle Of universal consumption.
And, finally, we have commenced the
manufacture of our own paper, and as there
is ne place in the world where rags can be
found in greater quantities, there is every
reason to believe that before very long, our
OWE paper will drive all foreign articles from
the market.
These are a few of the most prominent
branches of industry now being prosecuted
with vgor There are hundreds of Others
which we might mention, such as rope, fur
niture, candles, brooms, etc, bnt the above
ought to be sufficient to convince spectators
in the Eastern States that there are grounds
for the decrease in the shipments. 1t is evil
dent that according as we progress in agri-
culture and manufactures, our shipments in
gold must decrease, for it can hardly be ex
pected that we should send away our money
without receiving any corresponding benefit
1t may be thought by some that we only
write because, in consequence Of q kind Of
State pride We are unwilling to acknowledge
even to ourselves, that our mineral resources
are falling, but on that subject we have only
to say that ths people Of California are on
tirely satisfied with the produce Of their mines