, 1860-09-27
From the Pacific States.

Tho Eteomshlp Ar1'el 1roG AFpla"Al!, OPP.
Is. arrived at New York on the Esd inst with
2ao2, ,657 in specie. Most ct the news from Cal
ifoza:a md Oregon by this arrival, has been an
ticipzted by The Pony Express, but We CLEAN
some additional 6etal3 OF interest:
ACCUMULATION OF AnxEx IN cAuFonS1A-1He
LOWERING OF INTEREST,"
tFreu the San F, ancsco Bu:l<tin. 1st+I
u to the 10Th Of lsst month the falling of
Of trea.ure exports. during the present ; eur,
had bcen $4,t9s. .l52 Ga The causes Of this
great decrease still exist, and there is every
probability that the amount Of gold exported
during the current year will fail full SC. 600 900
.hort Of the export Of any former year sirce
r., gro~ing out Of commercial deraugements
at tb.re or abroad. The canse is self.explara-
tory and wela. understood BY all cur people.
California Is producing large variety OF arti.
cles r. tquired for home consumption that IN
years pust had to be brought hi'her from
asroa6: The money formerly cent 10 the A.
iau1ic States aad Europa TO purchase such artl'
cles, 1ow goes 10 our own people, who are
gradually becoming producers and manufactnr-
era. The present year is su extraordinary one
ia this respect, and probably some million Of
dollars viii be paid to cur pecpls for uanufac-
tuJed articles end farm pToGucse, Which iase
year eren had to be imported.
ful:F increased this yeat-an 1cess Of s., ,0Q0,-
COO over last yesr being probably . moderate
estiuate: end every dollars worth of grain,
lumber, wool, or other article Of domestic pro.
duction exported, accomp:lsbes the obJ.cs OF
zetainirg 90 much gold in the c,u1try- From
these iac:s, i. is er: dent lhat money il now &C.
cumalatug in California with uIexamn!ed rap.
idity, aud there is To prospect that such WILL
not be the case for long time. Unless our
mine. 1re reaiIy giving out, there is no arriving
At auy clh=r conclusion tha1 that The safes Of
our bankers, capitalists and merchants arc fill
I'M: up with cola. With the steadily enlarglng
area of mining grou7d. nrd the pIobabl= con-
sts2t increase 3, he numb:r Of miners engaged,
at home. in Utah, 0regor, Washington and
British Colun bis, II is not necessary 70 attempt
to nroye that the treasure products Of this coast
arc not becoming less. On TIC contrary every
fact goes to s..oy that the gold product Is cer-
tair|y well sus:ained, with long future before
us OF equally promising returns.
The foregoing remarks demonstrate theereti-
cally thu. money is becoming very plenty. Pso-
pic Who find it about as difficult as they ever
did to obtain cash, mey want something more
than theo,ies to convince them thst such gen-
erAl financial prosperity really exists The
merchant who goes 10 bsnk for accommoda-
tim, aud finds interest Is high now aa it vas
TIN: money is plenty sad easy. however plainly
ths treasure statistics may indicate such to be
the fact. THo per cent. per moth interestcau
hardly be con6ide1ed as consistent with a su-
perabupdanca Of uEemploy ed capital.
In the face Of this Inconsistent state Of things,
capital il not only abundant, but almost super
abundant. It isl 'ated BY well informed parties
that the principal bankers and capitalists Of this
CITY have for some time past, found dill Guilty in
keeping their money losned q: prevailing rates
Of interest, ualess imprudent r.bka are taken.
Some OF them are burtbened with large sums
for which no employ neut can be found in Tie
ordinary course Of banking affairs. Hundreds
Of Thousands Of dollars Of money belonging to
bankers and capitalists are represented 70 be in
this condition, and accumulation keems to
continue. Compare this condition Of things
wit, that e1isting G few years ago. ~hen such
bankers Is Page, Bacon & Co., aud Adams 4
Co., rot onsy kept ali their own msaus EN-.
Moi cd, but also used thtir deposits BIZ the mil.
lion, and j: will be seen taat money il really
becoming "drug" ANY cne who will take
the trout. TO inquire Of money brokers' aud
real eatate agents concerning the esse and
cheupness vita which loans can be obtained On
good ianoed security, WI nnd additional esl-
dence tha: capital is almost begging employ
meut. IL ias!xnces, We hear OF u l9au Of t40,-
900, secure, By mortgsga on city property. ut
pr cent per month. Another loan Of ter. ( 90,
at the sane rate, for one year A lnau OF $685.
600 his recently been made Tor three years, the
interest being 1T per cent per month for the
first ear, u TOR The second year, and per
cent. ior the .hlrd, the security being largs
ranch in a neighbor;ng county. This last is r..
xarded as N exceedingly good loan Tor the cap.
la ist; but ranch security, however good, does
not INSET 80 mrca favor as city property, aud
hence higher sAtes Of interest are required.
It's aibo stated that some Of the bankers are
feeling 1he necessity OF reducing The rates Of
interes', aud probably to considerable extent,
ench reduction has already taken pface, at least,
| it would net bs diff suit 10 obtain loans from
some Of the banks At II pr cent. per month,
vhere the customers cfedit a.ds beyond all
reasonable question. It may be we'll to con-
slider al this tuna whether the period has nat
arrived nh. general reduction Of interest is
not called for. Why should cur merchants Of
| tho most undoub.ed wealth be allowed bank ac-
| commodhtious at 1t per cent. per month, when
| rxal estate holders can borrow at per cent
If the Bank Of England lowe.s or advances the
rates Of interest according TO the abundance
or scarcity Of capital. why shouli not this
sound commercial castom obtain in San Fran
| cisco: -