The Arizona sentinel., 1873-11-15
Should be Happy.

w Z VI IOcH DI6gO nave reaSOH u
be happy The financial depres-
sion which is causing so much
distress at the East is scarcely
felt in California. The business
of this State has all been done up
on the gold basis, and hence
whatever yshrinkageS Of values
occur elsewhere, there is no fuc-
tuatiOn Of prices here. Whatever
arguments have been offered in
favor of the adoption of green
backs as our currency, are scat
tered to the wind in a time like
the present. 1t would be well,
nay it would be exceedingly de-
sirablc, to have a uniform curren=
cy in all the States of the Union,
provided that currency is convert
able into. gold. But until the
greenback dollar will buy a gold
dollar, we prefer to have the busi-
ness of California done upon. the
gold basis. The productions of our
State are obtained from the pro.
ducers at gold values, by the deal
ers for export; and imports dis
tributed from the importer to the |
wholesale merchant, and from |
him to the retail dealer, at a |
somewhat fixed advance upon |
the cost of importation. The only
HuctuatiOn in prices is caused by |
either an Over-supply or by de-
mand greater than the supply,
Men cannot combine together to
change the value Of gold coin, as
in the East they have combined
to change lhe value of greenbacks;
and so the products of trade in
the hands of dealers can undergo
no Fictitious and Fictitious change
of values.
:. We have reason to be happy
lalSO because California is a great
producing State, yielding those
articles which ere most in de-
mand elseWhere-the wheat to
supply the want Of europe, and
the gold to pay the debts due
abroad by our Government and
by citizens Of the several States.
Again. the isolation of CalitOr-
MIA from the rest Of the Union, by !
lCa5on Of its distance, for tWeuty
years prior 10 the completion Of
the Central Pacific Railroad, COM
PEELED the people to carry on bus
iueea IN a very iLdepeDdaIt way,
81 .la. but Little oo-neLcilI
sympathy existed between them
and the business men of other
States. And so it has continued
in g great measure until now. We
do not take stock in their enter. :
prises, nor they in Ours. They /
They accommodate each other,
and take each others risks, but
we are too far off, and therefore
escape those entangling alliances
which are to be dreaded in q time
of financial panic.
In San Diego we have especial
cause to be happy. During the
past three months there has been
a constant improvement in the
city. New and very substantial !
buildings have been erected, and
others are being built. The me-
are all employed, and :
labor is well rewarded. No one
OF our merchants nave IdlI0u, Out
all are doing a safe if not an ex-
tensive business. Tho Pacific
Mail Steamship Company is con- !
tinually making improvements
at It's wharf and the Texas and
Pacific Railway Company is slow
ly but steadily going with its {
work. The first section of ten
miles will be completed in a few t
and the shrek of the To-
c0motive will then be heard, a
Until then, and afterwards, San I
Diego will continue to be sought
as afOretime, on account of its
by those who, having
to 1--we on, will spend it
where their health and pleasure ,