Mariposa Democrat., 1857-05-13
AHint 10 Capitalists.

writer in the San Francisco Bulletin in touching up
the extravaganza Of capitalists and showing some OF
the large amounts foolshly squandered away for use
less purposes, has suggested mode by which capital
lists can make good investment and largely add 10
the wealth of our State. Investments in water dtche
are safe and profitable paying better dividends than
any other kind of stocks in California But to the
letter:
q" continue the subject Of the best mode of increas-
ing the population Of the State by few queries.
What has been realized for the capital invested in the
more substantial improvements Of this city, such as
costly stone edifces and brick buildngsl Let the
owners Of Montgomery Block and other fine edifices
answer. If further evidence is required, give the re-
cent case Of Geo. T. johnson VIM Sherman, in the
Superior Court. The developments in that show
that lot was leased in San Francisco for ten years at
$3.50 per month"; on which the lessees erected brick
building which cost some $4,000. IL also appears
that the lot and building do not rent for enough
to pay the ground rent stipulated in the lease for the
lot alone so that the s35 900 Is dead loss TO the par
investing. This is hard to be beat by ditch stock.
But again what does the million Of dollars invest
ed in trifing railroad frem Sacramento Cityto Fol
som pay and what real good has resulted from 1t
Teamsters still continue TO carry the usual freight
from the city by the side Of the railroad and the stages
still carry many Of the passengers while the fare the
same. If this sum had been invested in water bitches
it would have given facilities for labor to thousands.
Look at the millions which have been squandered in
building up streets and levees in Sacramento City
Why, it would seem to traveller that the people Of
Sacramento went into that swamp, raised those streets
and built that eyee for the express purpose Of abstract
ing that amount Of capital, and hindering II from
being invested in that portion of the State where il
would be Of some utility to the laboring community
for you go down the stream Immediately leaving
the city you approach high land extending to the
very margin Of the river, which nature to have
taken especial pains TO elevate above the high water
precisely where the city should have been, and more
beautiful site for city eye hath not seen. But they
went down into a swamp, and right by the side Of il
built wharf and evee, aud raised their streets at
expense of millions and still in jeopardy Of their
lives every flood. Now what does all that Investment
payl
1t appears that about four millions of capital has
been invested in State Bonds much Of which has been
fraudulently put in circulation by corrupt officials
The Courts have condemned all this debt az unconst
tutional and worthless, and an injunction is now
brought to prevent payment Of the interest So what
will il be likely TO payf If that sl0O0000 had been
judciousy invested in the mineral portion Of the
State in the construction Of water ditches it would
have supplied almost every mining section with per
manent water and steady employment, not only to
those who here, but TO hundreds Of thousands Of
others who would have come here, il these facilities
for developing the Of the country had been
furnished.
am now able reasonably to assert again, that the
capital which has, which may be hereafter invested
in water bitches, has paid, and will continue to pay
better dividends for centuries to come than any othel
stocks In the State"