New-York tribune., 1879-05-22
THE FUTURE OF CALIFORNIA
LETTER FROM d. G. CRoLY.

WHAT THE NEW CONSTITUTION WILL Do-A HOPE
FUL vIEw-ARE THE PRINCIPAL MINES OF CALI
FoRNIA TO BE OWNED N SEw-YoRKi
To the Edttor or The TrtbuHe
SIR f.: VIII you permit New-Yorker now in Cali
fornia to express his opinion of the possible effects
of the Constitution recently ind0rsed by a large
majority of rs people do not share in the gloomy
OrebOdngs Of the press Of the country touching the
effect of the new organic law the destinies of the
people of this State. l admt-no can help ad
mitting-that there is much that Is crude, with
some things actually mischieyous in the Con-
stItution inst adopted but I make bold TO
assert that some of the evils which
have afflicted the people of this coast may
be corrected by this instrument. Ii Is undeni-
able that stOck-gambmg is one of the curses OF
California. People at the East have no idea of the
uniyersaity of this vice on the Pacific coast.
Stock-gambling. after all. is confined to a limited
class in the large cities of the East but here almost
the entire population, including the very servant
girls take their chances in this great game of haz-
ard. Now, where games of chance are universal.
industrial pursuits do not thrive, and 1t is the uni
versal complaint here that You cannot obtain money
for any productive work outside of the often des
perate chances found at the bottom of shaft the
point of a pick. The new Constitution attempts
to cure this prevalent evil by various de-
vices, more especially by making borrowing
/ on margins Illegal. In feet, the people OF
California are told that they must not buy what
they cannot pay for nor sell what they have not
got. Neither the new Constitution nor any legal
enactment can change the business habits of
whole community laws are imperative in a meas
ure when the attempt is made to curb the passions
OF mankind but still the effort is constantly made
by legislators 90 put q rein upon tIa evil propensi-
ties of men and women. Antl-qaor laws do not
stop the sale Of ardent spirits, but they do largely
reduce tlor consumption. and auti-gambhng laws,
wherever enacted, make tde practice Of that vice
more nfrrquent. IjUdge that, one way or another.
stocks VIII be bought and sold, 5peculatye.y, on
fhe Pacific coast Tor the next decade, but the legal
impedimeuts to this species Of gambling will have
their effect IN reducing Jhe volume Of such transac
/ tions.
| The Anqlo-Saxou, both IN Great Britain and the
United States VIII take great business chances; he
/ VIII go i'm debt at the risk OF bringing on panic
! from every seven TO eleven years. There are no
Danics IN France for the Franchman buys and sells
for cash. and does not local credit banks Where
/ we have only SIG per head for acircuatmg medium,
| France has S57. r. such miracle could be accom-
! pshcd as the abolition Of all speculation in this
/ country, paying as we 20, and commencing no
enterprise till we had money to complete it, we
shoud be the most prosperous nation on earth. We
[ produce more bullion than all the rest of
/ the world put together. and were we 10
keep out OF debt, we might enlarge our specie cur
| reucy So as to have more gold and silver in the
channels OF trade than France PanIcs wodld
/ forever after be unknown, and there would be no
danger Of paper money heresies being seriously
sidcred. But of course, IL is idle to expect ali this
The American will discount tho future be VIII pile
mortgage after mortgage upon his land and sign
notes and bonds and Obligations with the hope that
D 81 r-FT rFE .rll In la.
tune And this propensity is stronger the Pacific
coast than in any other part of the country. My
point is tins that however mistaken the trainers Of
the Constitution may have been, they really at
tempted to correct giant evil and should have
proper credit therefor.
Another unquestioned evil, which they attempted
to correct, was the monopoly of land. The soil Of
this State. somehow had sifted into the hands of
a comparatively few persons. The domains of some
of the great capitalists puucey, imperial IN fact,
although really the amount OF arabic land IN this
State s quite limited, for there is a great deal Of
rock and shore and waste laud on the Pacific slope.
II has been the ambition Of every man WHO made
money in mining stocks to own an immense ranch
and to breed cattle Indeed, the business mas been
overdouc for horses will not bring their cost, and
beef Is now raised aC a loss. Apart from any rights
of property involved lJceItainIJ is against LLe m
terrst Of >ate that vast and unnecessary landed
pJs-c~siOns should be allowed 10 create ar /
tiical deserts. The method adOpted 10 force |
q sale of OVrrgrOwn landed possessions /
is simple enough. 1t has been dccreed that ali iand
of equal natural value shall pay the same tax IN |
orh.r words that the great ranch owners who nave /
excellent wild lands which tncy Will not improve, !
shall be taxed at the sdme rate as the farmer who
does improve his land; IN Otner words, that the /
cultiyatOr who puts his labor and EIs capital /
in the fOun OF houses ana other m /
pToyemeut OF the soil shall not be made I
TO pay mposts to state or counUv because /
of such improvements. II Is hoped that this dis !
elimination in taxation IN favor of improved land |
will force the great land owners to cut up their |
possessions into small farms, aud attract dense
population 10 the Pacific coast. The farmers. who |
voted so universally, however, for this COnstitu-
ton overlooked the fact that the large quantity Of
land which would be put into the market Will re- !
duce the value OF realty al over the state.
But" say the alarmed California mllliOnalreS, |
:" The provisions OF this Constitution VIII drive |
business away from San Francisco 10 New-1Orl1." /
Well. as a New-iOrker don't object 70 any such /
tendency-mdeed 1 have always considered II |
merely ma ter Of time when this great mining lu-
t.rest should find its way 10 the metropolis. New |
YORK Is the money centre OF TINS continent, and !
there many who can give good reasons for be- |
icyuQ chat, time, It Is destined % be- the money
centre of the world. Before the new constitution
was even Thought OF. valuable mining properties |
We're placed among the capitalists OF tue Last. |
Slowly but surely TIE machinery ~ DelnE OtgulIrd
for taking from the Pacific coast she manipulation
Of great mineral districts. Take any of the mines |
now called upon the NtW-l ork Stock Board. ana III
will br found that they sell Tor nearly double what
could DE- obtained Tor them in san Francisco.
Investments IN mining property have, Judge |
entered upon a new phase. The California motto |
has heretofore been relatively small investments |
with great risks and great possible profits. but III |
the more legitimate phase Of mining industry DOW |
being formulated there wall be more liberal outlay
and smaller but sureF returns. New-IOrk bankers !
have about got through with handling our recon-
yerted Naaonal debt. and, unless / am much !
mistaken, there Is reason 10 believe than some
OF this soOu-tO-be-die capital VIII seek profitable
employment IN legitimate mining ventures but |
san Francisco in spite OF the new Constitution |
will ALWAYS continue very respectable but second
rate centre for the employment OF capital m de
velopinp mines The cream Of that business, how
ever must 20 TO NeW-York, because that city can
outbid san Francisco IN the purchase of valuable
al