Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1871-01-04

permanent improvement. Comher-
Sally speakingfsanFranclsco Is CD
ifornia, sc mot the Pacific coast, and
6nll trade, here means hard tunes in
lalf . dozsn States and T~ertitories.
The slow growth In population Of the
Pacific coast retards the commercial
growth of San Francisco, so 1t Is not
to- be expected that there will be any
sudden increase III the volume OF our
internal trade. The disposition OF In
tEfior purchasersfC6uy their goods IN
Eastern markets has been materially
checked since last winter, and conss-
'qucntly some Of our lost trade Is again
returning. A new market has been
opened In Australia, which promises
great things ; while on the other hand
one Of our best ACKNOWLEDGEMENTS
importing on her own account SOCK
tensively that she will o % be indie
pendent Of San-Francisco. Our mer-
chandise exports for 1870 10y sea-
aggregated Oh, 789, 742-ari increase on
the preceding year Of about $4,000 D
mainly caused by the enhanced value
Of the products exported. Merchants
have been very cautious In their OPP
eratlonsfo for the last twelvemonth, and
have altogether eschewed speculative
transactions. Their business has been
conducted either on a cash basis or
short credits, so failures have been few
and with the exception Of one last
week and that of Ghiradelll's In the
ACKNOWLEDGEMENTS. "'''.''
Finaneial. ~ r.
The exorbltant price Of money
greatly retards the establishment Of
manufacturing enterprises. The bank
rate has varied from 1@11 per cent.
per month, and I'm the open market
from 1Na3. 1t Is needless to expect
that we shall enter upon a manufac-
turing era while these usurlous rates
prevail. There Is plenty Of capital In
the State for all legitimate purposes.
The savings banks are carrying large
lines of deposits, and the commercial
banks have large reserves, but people
will not borrow except under the
pressure Of necessity. A reduction to
s or 1G per cent. per annum Is ~inevita-
BILE, and the sooner 1t Is done tho better
1t will be for every interest,
Manufacturer.
As remarked above, cheaper money
would give an immense impetus to
manufacturing enterprises. At pres
ent only those undertakings that
promise large profits with quick re-
turns meet with favor; from investors.
The two exceptions to this rule have
been the establishment Of the Califor-
MIA silk Manufacturing Company and
the Alyarado Beet Sugar Manufacture
Ing Company. The former will soon
commence active operations, and the
latter started business q week ago.
The result ofethese ventures will be
watched with great interest, and If
successful will lead to many similar
ones. The consolidation Of the Mis-
sion and Pacifc Wooden Mills added
largely to the working capacity Of
those establishments, and placed the
making OF, WOODEN goods foremost In
the ranks Of manufacturing Interests.
California will soon be able to supply
the rest Of the coast with blankets,
cloths, tweeds, lannels aud yarn, and
Sill have some left for profitable ex-
portationsE The minor manufactures
introduced during the past year COM
prise the making of paper collars, Of
artificial stone experimental, gloves,
hats and caps, horse collars, Ink, whale
oil and %lnaccaroni, while many manu-
features previously established have
boon stimulated by greater develop.
ment.r Cheap money would double
tile number OF our factories In short
time. That is the one great want of
the State. a
PspaIatlon and Railroads.
The gain In population since 1907 Is
computed at $4,000 excluding CHI
nese( and what is of more Importance
than mere numbers, they have been
the most desirable class Of immigrants
that could como to the country. We
are promised very cheap overland fares
this coming Summer, which will In
duce a stronger wave Of population.
1t is not too much to expect an in
crease Of 10000 people In the State by
next Christmas. Railroad construc-
ton during the past year has not boon
pushed with much vigor. The Cali
fornia and Oregon Is the only n that
has exhibited any energy. The South
ern Pacific, the Stockton and Copper
opolis, and the San Joaquin and Tu-
lare, have made no progress. Asmall
road opened OIL Saturday from Peta-
luna to Donahue will probably be the
Inception Of. a line to Humboldt Bay.
The California Central VAS incorpo-
rated last Thursday, to run from, a
point near Benlcia TO Red Bluff, with
3 branch to Sacramento. There Is
great activity In projected lines, which
will be further increased by the in
ducsnents offered for their construc-
ton by the Narrow Guage Railroad
Company. The coming year will see
many small branch roads built on this
now system, thus stimulating the occu-
pancy Of our farming lands In hitherto
neglected sections, by giving cheap
transportation for their products to re-
munerative markets. Dsferring a re-
view of our mining industries to an
other time, and also some remarks on
the social changes and features of1S70,
enough has been written to show that
Notwithstanding high rates Of interest,
dull trade, and the loss of a portion of
the harvest, the progress made by the
State In material wealth was by no.
means small. I believe that California
last year laid the basis for a more solid
prosperity than she has yet attained,
and TINT II we are only blessed with q
rainfall, 1871 will be the red
letter year of her history year of
unparalleled progress In mining, agri-
cultural and manufacturing Industries.