The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1857-10-23
THE PRESENT CONDITION OF CALIFORNIA.

exceedingly interesting sketch of the present
dition Of California, founded-so the editor assures
us-upon the representations of gentleman of great
legal position in the golden State We give below
the SKETCH arranged as we find it in the Mirror un-
der few general heads
The placer mines no longer considered the most re-
liable of laborers, although they
to be prolific enough after the four five washings
of former years Still there is very largo amount of
territory yet proe where the grains and the mug
gets to be found as abundsntly The chief
reliance of the miners IS however in the quartz veins
and the alcose rocks from which the supplies continue
be most abundant When the quartz speculatons first
began they conducted by companies large and
reckless scale They had presidents treasures and
rctaries drawing large salaries they do in Of
bankrupt railways There not particle of shame
in these they used up everything, and the stock
holders got nothing. Now there is very different state
Of things If miner finds vein, he first hand
mill he proceeds cautiously pockets his gains gradually
enarges his operations he succeeds and will not trust
large companies few active persons take charge of
their business and manage IL for themselves.
The five men who began in this way on the Alison
lead have now five hundred thousand dollars deposited
the mint and all the skill Of the nancier of San Fran
cisco cannot get them step out of their regular bust
ness, induce them to otherwise their wealth
The products of the quartz mines are yet only in their
infancy and they generally managed in the
most economical and careful manner, they paying
their profits. vein of talcosc rock
has recently been discovered in Caaveas county, which
by analysis has been found to be worth at least five thou
sand dollars ton 1T is marvellous story, but it is
nevertheless The quicksilver mines also very
prolific and profitable and adequate to any demand that
can be made upon them for analgam
RANKING
The merchants of San Francisco in favor OF n
change in the constitution of the State which prohibits
the establishment of banks but the miners and peo-
pie in the country much opposed to them There
viii probably be change effected The merchants and
traders say that they operating at great sadvan-
tage that In the other States specie represents from
times it's intrinsic received value, while with
them II is dollar for dollar and credit has not days adj
vantage Business is transacted by the of checks
which Immediately payable in specie. If the party
drawing them has any credit with his banker, which is
extremely rare he may have to 15 days time to make
his check good, but no longer
The interest paid for money is still very high from 2
to per cent month thus giving the direct lie to the
theory of those political economists who contend that
where specie is the currency interest rules rate
IL supposed that II bank paper used interest would
fall directly and presume II would II Is said by our
informant that ia consequence Of the state OF society the
ignorance of the miners and the Of institutions
which they place confidence, vast amounts Of gold