The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-07-21
TO MERCHANTS.
Wanted for California article chch shippers hare


TO MERCHANTS.
Wanted for California article tehch shippers hare
overlooked.
The merchants of New York and Boston are re-
markab!e for shrewdneSs. This essential quality
in money-making does not appear to extend itself
in any very great degree to the shippers to Cali
fOrnia; otherwise hardly possible that they
would overlook the shipment of ONE article of
commerce which would remunerate them better
than anything else. 1t is notorious that goods of
almost every kind selling in the glutted mar
ket of California at a loss to their owners The
warehouses and stores of San Francisco groan un-
der the accumulated piles of Eastern merchandise
Exporters appear to have measured the capacity of
the country to consume their wares less by its pop
ulation than by its area. Because 400 900 people
on the Pacific coast happen to be read over 200-
900 square miles of territory, it by no means fol
lows that therefore they will eat wear, or keep
more than 100000 people who are settled in the
suburbs ofNew York city.
The only article which always paws and is scarce
ly ever shipped to California, is money. There is
nothing at present which the m rcante community
In San francisco so much need, and nothing upon
which they are willing to paw so large profit
While the great body of eastern exporters are
shipping goods, let few men ship money. For
every month that it remains in Caliornia they
may be sure OF two per cent-twenty four per cent.
per annum!
The money shippers will in effect get in pledge the
goods of all the goods shippers. Between the two the
San Francisco merchants will average fair business
Let one set of New Workers forward goods in abun-
dance, and another set send money to loan on coat-
era and the San Franciscan then in the neatest
possible manner, borrow the money at a profit, and
with it buy the goods at a loss: and so come out
square. But if New York and Boston persist in
shipping goods exclusively, the San Franciscan be-
comes embarrassed with riches all of one kind, for
which he has not money to paw, and consequently
cannot buy. The amount of daily chagrin suffered
in San Francisco because her merchants cannot
profit by the immense bargains offered to them, is
fearful!
1t certainly can make no difference to a Boston
man whether he keeps 81 900 worth of boots and
shoes, for instance, to send California or wheth
er he sends $1,000 in American eagles. All that he
asks or desires is, profit on his operation. The
81 900 in eagles will, beyond doubt give him S24O
in twelve months operation, whereas the boots
and shoes will, in all probability, barely him
his original capital.
In addition to the greater certainty of profits
upon the money shipment, is the greater security.
Merchandise costing 81 900 may easily be worth
$500 only upon its arrival; while money, like the
constant quantity of mathematical problem, il
always par. In sales credit, goods are almost
always sold on single promises to paw: money when
credited out asks and receives collateral assurances
IN the shape of actual merchandise. Money thus
employed has all the security that merchandise
possesses, with considerable margin of additional
merchandise to cover contingencies.
These few hints are sufficient i think to put Cali
tornia shippers on the qui Uire. have only to add
a word of cautiOn:-don't ship too much
Even money in excess changes its character and
bones drug. In moderation it feeds the market
and acts on the national digestion as a healthy
tonic; in its action is cathartc and tends to
depletion.
1t may not be out of place here to note a funda-
mentaf tallacy in the commercial logic of Eastern
shippers to California. They calculate upon sngu
lar bases. One would imagine that the known laws
of supply and demand would lead them to adopt
the consumption of this market as the basis of shin
ment; for it is evident that people here won't keep
more than they want, becouse people there are will
ling to ship more than they need. Instead of esti
mating the chances Of profit upon consumpti0n
those chances estimated upon price, These
price current estjmatOrs divided into two
classes, the impulsive and the knowing. The i'm
pulSive see that on a given day ia San Francisco
beans for instance are high, whereupon this class
ship beans in abundance, forgetting that when the
beans arrive in San Francisco, the temporary cause
OF the high quotation may have passed. and beans
have become cheap. The knowing see that beans
are low and they Immediately ship, on the hypothe
sis that because beans are low, nobody else will
Ship-theretore there will be scarcity-therefOre
beans will be high when theirs arrive, and there
fore they will realise profit. Thus the two classes
act, and react, and between them ship too much;
and both are sold, even if their beans or not.
Another prominent delusiOn that BOstOnians and
New Workers labor under, is this-they imagine
that there are no other places in the world but New
ork and Boston, and that is their sole preroga-
tive and duty to keep California from death and
destitution, WherVas the fact is that London,
Lieerpool, France, China, India, the Eastern Ar
chlpe!ago, Mexico, and some other portions of the
world, are impressed with equally benevolent in
tentions towards this distant portion of the earth
1t is pleasant to have willing friends, but really
so much kindness is killing; and instead of being
properly appreciated is dsrespecttully spoken of
"downrigh foolishness."
If New York and Boston desire to serve Caifor-
MIA in sensible manner, the best course they can
pursue is, to ship oerably full quantities of goods
and with every! shipment sufficient money to pay
freights on arrival, storage and charges; together
with about threequarters of the value in additional
money, to lend out on the goods at per cent per
mouth. In this way they may supply the country,
with comparatively little convenience to its mer-
chants and loss to themselves. Should they
decidedly overship, they can ship back again, and
So benefit the mercantile marine to a marked ex-
tent and lose nothing except two freights and in
surances. Your obedient servant,
CALIFoRNIA MERCHANT.
SAN Francisco, June Is, 1859.
WASHINGTON, July l9.-No instructions have vet
been given to posmasters regarding the pay of
themselves and their clerks. Ii they appropriate
from the receipts of their respective offices as
heretofore, their accounts cannot be audited
without violation of law, in the absence of an ap-
preparation.
1t is we'll understood here that the lie Clerk let
ter was written by Mr.. Hunter, Chief Clerk of the
State Department, in the regular routine of bus-
ness; the Hofer letter by Mr.. Appleton, to remove
the sting of the first and that part of the despatch
to our minister at Berlin which has been published
by Mr. Buchanan, antdote to both the
others.
Several members of the Cabinet met to-day, for
the purpose of mutual admiration, there being
nothing else to do.
There is positive information here that Mr. Hun
ter will carry all the Virginia delegates, and will
probably be the nominee at Charleston. Mr. Wise
is now here.-N Y. Tribune.
From UrAH-Great Salt Lake City Monday. June
20, lS59.-The Hon. D. R. Eckels, Chief Justice of
the Territory, accompanied by the Hon. Andrew
Humphreys, Indian Agent, returned to this city on
the evening of the 18th. Judge Eckels was met
about twelve miles east of the city by number of
federal officers and citizens, and escorted in
state. If his reception upon his arrival can be taken
as an indication, he is very popular umong all
classes; even the Mormons themselves show him a
higher respect am told, than has ever been shown
to any other federal officer but he struck heavy
blow at the most vulnerable point in their creed
namely, polvgamy, their respect seeming re-
spect, may be dictated by fear rather than love-
Nev York Times.
DoN'T TURN OUT WELL-Our farmers are general
ly complaining that their wheat does not turn out
as well as they thought it would. Many that have
been threshing say that it falls short at least one
fourth. From this it would appear that after all
the blowing, the crop is not above an average one
-EdSton Star.
We have conversed with several farmers from
Talbot county whose opinion as to the yield of
wheat in that county appears to coincide with the
above. Wetrust the complaint may not be general
AT hotel, one day, boarder remarked to his
neighbor, "This must be healthy place for
"Why?" asked the other.
"Because never see any dead ones about"
A marble shaft recently erected over the remains |
If Aaron Burr, in the graveyard in Princeton, |
Jew Jersey, has been mutiated and broken by |
ome persons unknown. The shaft was erected bv |
tealth, no one knowing who put it there 80