CALIFORNIA.

Star (Christchurch), Issue 622, 20 May 1870, Page 3

CALIFORNIA.

The Southern Cross of May 10 publishes the following extract from a letter which a Mr M'Vey had received from his brother. It is dated San Francisco, Feb. 13 : — " A duller state of affairs than at present exists here, and, indeed, has done for the past twelve months in every line of business, you can't imagine. Thousands are out of employment, every one complains of hard times, money is very scarce, many large concerns have gone to the wall, and a great many more must follow. For every situation open there are hundreds of applicants all well qualified to hold the same; mostly all the retail storekeepers are trying to sell out, at from 20 to 50 per cent, below actual cost ; in fact everything in the shape of business is used up. The population of California is estimated at about 400,000-80,000 of whom are Chinese — out of which number most reliable accounts state that 35,000 are idle, with no show to obtain any kind of employment ; and everything ahead looks bad for future prospects. All the Australians I have come across in this State are either going back to Australia, or bound for New Zealand, for the simple reason that they can't see their way to do any good in California. I just mention these facts to give you some idea of the state of affairs. One express company closed a short time ago, and left over 200 idle. The Pacific Bail Company, during the last six weeks, discharged over 1000 hands from all departments, and reduced the wages of all retained from 10 to 20 per cent., and still threaten a further reduction. I have talked with men who are well posted up in everything regarding this State, and who have considerable means, and they tell me that they look for even worse times than we are having — are themselves afraid to invest any capital, and prefer to take the one per cent, per month interest given by the banks, and let themselves lie idle. The mines have not yielded daring the past year anything like former years ; placer mining is almost played out, and the expense of working the- quartz reefs is so very great, very few care to run the risk. Mostly all the good land is held by speculators, who ask big prices for the same, so that parties coming here with a view to farming, now find it pays them much better to go and purchase land in the States of Nebraska, lowa, Illinois,. Missouri, &c, than to remain in California, where everything is so unsettled. Then many of the titles are bad, being covered by Spanish and Mexican grants, so that often, after a man has paid thousands of dollars and made years' improvements, some Californian, Spanish, or Mexican grant turns up, - and he has to pay for his land a second time, and in some cases I have known, a third time. " There is considerable talk of putting on a line of steamers between this place and New Zealand and Australia, which many think will tend to improve the state of affairs on this coast. If fares are reasonable, they will get a large number of passengers every steamer from this place alone. I intend, to .return to Canada this summer, for there business is at least steady, and, taking cost of living, «fee, into account, more coin is to be made. I shall go overland by rail : first-class to New York is 140 dollars greenbacks — at present rates equal to £24 sterling. Sleeping berths and tucker, about £5 extra. Time, Go dajs. Second class, about two- . thirds of these rates. The steamers

via Panama charge 100 dollars gold coin, first-cabin, find everything, and land you free in New York in from 22 to 26 days. " At present we are having fine mild weather; very little rain has fal^h this winter, and the farmers down the South Coast are afraid of a poor crop. Still, on the whole the wheat harvest is likely to be an average one — at least we all hope so, for if not it will cause a deal of suffering in the State. ■" Please give me some idea of the state of affairs in N.ew Zealand. Many here talk of going there, but can get no information about, how things stand, cost of living, &c, &c."