over other localities. Individuals may be ruined by fire in an hour, but the money loaned at from three to ten per cent. per month interest, generally comes in. but for a small proportion of the loss. As connected with the subject of currency, we will here take occasion to say that in no other section of the globe, are the generality of bankers more careful, judicious, and business-like, than in San Francisco. The rapid changes which are noted every day, necessarily compel them to watch the course of events with a careful regard to their own interests; and the exceptions to the general classification for integrity and business capacity, are but few. It is but a short time since most of them, in San Francisco particularly, passed through a panic that would have shaken the commercial circles of other cities to their centre; and all but one or two came out unscathed, meeting every demand upon them promptly, and to the last dollar. The names of the principal bankers of San Francisco, are as follows: BURGOYNE & Co., Montgomery street. BOLTON, BARRON & Co., E. E. DUNBAR, 66 66 T. J. TALLENT & Co., corner of Clay and Montgomery. The following houses represent parties located elsewhere: B. DAVIDSON, represents the Rothchilds, London. F. ARGENTI & Co., represent Brown, Brothers and Co., New York, and Brown, Shipley & Co., Liverpool. WELLS & Co., represent Willis & Co., Boston, and Drew, Robinson & Co., New York. PAGE, BACON & Co., represent Page & Bacon, St. Louis. JAMES KING, of William, represents Corcoran & Riggs, Washington, D. C. S. BEEBEE LUDLOW, represents Beebee Ludlow & Co., New York. GODEFFROY, SILLEM & Co., represent J. C. Godeffroy & Co., Hamburg. In addition to the above, there are other smaller operators, whom it would not perhaps be proper to classify amongst the leading bankers of the city, their transactions being mainly confined to the purchase and sale of gold dust, and do not do a legitimate banking business. For the time included in the period for which all our statistics have been made up, namely, the twelve months past, there have entered our harbor, from all foreign ports, 1,743 vessels. During the same period the number of vessels which cleared, was 1,461. The vessels arriving have landed upon our shores, 35,333 males, and 1,248 females. The number which have left by sail vessels and steamers, during the same time, was 26,593 males and eight females. The report of the Secretary of the Treasury on Commerce and Navigation, for the fiscal year ending June 30, 1849, shows the number of clearances from the port of New York to have been but little more than twice that of San Francisco for the year ending December 31, 1850, and the number of arrivals at that port-the same period compared-to have been 268 less than twice the amount. As compared with New Orleans, the difference in favor of San Francisco is, in clearances, 330, and in arrivals, 645. When the comparison is made with Philadelphia, we find the difference still greater in favor of San Francisco, being in clearances, 922; and in arrivals, 1,137. The same would be the result were the comparison made with any of the sea-ports in the United States. The total value of merchandise received during the same period, in domestic vessels, was $797,275 10. The tonnage of the vessels, 82,949. It has been frequently asserted by persons unacquainted with the facts that California has imported more goods, and contracted a larger aggregate of debt elsewhere, than her shipments of gold would pay for. To show the error in this statement, a comparison of the figures above need only be made. The total value of all the merchandise received here, of every nature and description, from foreign and domestic ports, from November 21, 1849, to September 30, 1850, was $4,155,257 75. By reference to the table of gold shipments, in this article, it will be seen that the aggregate sent forward during the first four months in the year, was more than the entire debt incurred by California, for merchandise, during the whole year. In the month of March, 1849, the first steamship in the trade between San Francisco and Panama, entered the "Golden Gates," with what demonstration of rejoicing the staunch old vessel "California" was welcomed may well be imagined. In less than two years from that date, we find the following noble steamers traversing the waters of the Pacific, arriving and departing with the regularity of a train of cars upon a New England railroad. PACIFIC MAIL STEAMSHIP COMPANY LINE. CALIFORNIA, UNICORN OREGON, SARAH SANDS, NORTHERNER, CAROLINA. LAW'S LINE OF PACIFIC STEAMERS. COLUMBUS, ISTHMUS, | REPUBLIC, | ANTELOPE. In addition to these, belonging to the regular lines, are the steamers New Orleans, Ecuador, and Constitution, which have been engaged in the Panama trade, and also the Gold Hunter, and the Sea Gull, which have recently been upon the route between this port and Oregon. The number of steamers, running between this port and Panama, is greater than the number employed in the trade between New York and Liverpool, and New York and Havre, combined. One year ago last October, fifteen months since, the first steamer, the Senator," designed for the river trade, arrived in port. Previous to that time, the transit of the river, to the ports above, had been by means of small sail-craft, occupying some days in a journey that is now made, by many of the vessels named below, in from seven to ten hours. There are now employed in the river trade, the following steamers: STEAMERS EMPLOYED IN THE RIVER TRADE. 27 New England... 28 30 Jack Hays 42 Ion ........ Tehama....... Maj. Tompkins. Martha Jane............ Sacramento Sutter...... 30 San Joaquin.. 30 Jenny Lind... 67 Earastus Corning... 36 Union....... In addition to this list of steamers, there are also engaged in navigating the rivers, and the bay, 270 craft of various kinds. There are also now lying in port, many of them abandoned and others used as store-ships between five and six hundred vessels, not a few of them of the largest class that can be found in any of the waters of the globe. The auction business of San Francisco bears no unimportant relation to the trade of the city and the State. The number which we propose to name as the principal individuals and firms engaged in this branch, is seventeen, without including the score or two whose "going, going," disposes of goods in smaller quantities. The names of the more extensive houses are as follows: Middleton & Hood, Washington street; Kendig, Wainwright & Co., Montgomery street; H. B. Lafitte & Co., Montgomery street; Theodore Payne & Co., Montgomery street; James B. Huir, Montgomery street; Jones, Carter & Co., Montgomery street; J. S. Riddle & Co., Montgomery street; Backus, Davis & Co., Washington street; Starr, Minturn & Co., Washington street; Caldwell & Emerson, Montgomery street; W. J. Sherwood & Co., Washington street; Garniss & Co., Washington street; Frederick Dunbar, Washington street; Kettelle, Mahoney & Co., Washington street; Moore & Folger, Montgomery street; Gower & Co., Montgomery street, Backus & Harrison, Montgomery street. These comprise the principal auction houses in the city, and for correct business habits, liberality and integrity, will not suffer in comparison with those of any other city. Many of them occupy rooms far more spacious than those required for the business of the long-established and most extensive of the Atlantic cities. Neither time nor space will permit us to enumerate in detail many kinds of trade which are followed with satisfactory success in our midst, and which form no small item in the trade of California. In addition to what has already been mentioned, we will add that San Francisco, with a population of over 35,000, sustains seven daily papers, while New York, numbering half a million, can boast of only double that number! We have eight express companies, the principal ones being Adams & Co., and J. W. Gregory, over sixty brick buildings, where six months ago there was not one: eight or ten first class hotels, at the head of which stands the "Union," (just erected by Selover & Co., and under the management of Isaac M. Hall,) the "St. Francis,' "Delmonico's," the "Revere," and the National." But a few months since, the boundaries even of San Francisco were hardly defined with sufficient definiteness to guide the inquirer in his search. Now we have one hundred and seven miles of street laid out, one quarter of which is built upon and occupied, and over seven miles of it substantially planked, and most of that distance properly sewered. We have now a semi-monthly mail, where a year ago it was only an occasional one-reaching our shores now and then, and half the time not as often! One Marine Insurance Company has already been formed, with a capital of $500,000, and another in progress of organization. Such is a bird's eye glance at San Francisco at the close of "Eighteen Hundred and Fifty," as compared with "San Fran cisco Fifty years ago." The change is wonderful and surprising, but when we add that nearly all this has been accomplished within two years and a half, it is no secret that the world look on and wonder. Civilized and uncivilized nations alike have heard of California, and most of them have witnessed, in some degree, enticing specimens of her mineral treasures. But she has a mine of wealth in her broad acres yet undeveloped-agricultural riches that lack only the hand of industry, the energy of the people into whose hands destiny has placed the country, to make the wilderness "blossom like the rose," and her plains and valleys to yield riches far more lasting and stable than even the glittering ore that each stroke of the miner's pick exposes to the broad light of the noonday sun. ARTICLE IV. THE COURSE OF TRADE. We find in the Des Moines Valley Whig of the 22d ult. an able article on "the course of trade," which we commend to the consideration of all projectors of public improvements, especially in the States bordering on the Mississippi. In the early numbers of the Western Journal we endeavored to illustrate the "natural laws of commerce," chiefly with a view to a system of public improvement that should conform to these laws. We knew that the people of the West, with few exceptions, looked almost exclusively to the eastern cities and Great Britain for a market for their products; and it was natural to suppose that their projects of improvement would all tend in that direction. And desiring to see a well digested system adopted in the beginning, we have frequently recurred to this subject, without offering objections, however, to any specific project which has been suggested by the people. For, believing that no improvement can be made in any direction without benefitting the country, we were unwilling to discourage the prosecution of any work desired by our citizens; leaving it with those more immediately interested to judge for themselves. In behalf of the country, we thank the author of the following article for his practical illustration of the laws of commerce, exhibited by his tables of prices of Western produce at Chicago and St. Louis. We know that such facts operate with more force on the minds of men in general, than all our arguments derived from natural laws. We remember when the Michigan and Illinois Canal was regarded |