TRADE IN CALIFORNIA

Westport Times, Volume III, Issue 420, 4 December 1868, Page 2

TRADE IN CALIFORNIA

The production of gold is not quite equal to what it was some years but during the first half of the present year gold dust in California to the value of more than £4,000,000 has been brought from the interior. The extension of the Continental railway into mountainous districts said to be very rich in quartz reefs will probably increase the production. At the same time the values of mining stock have declined as compared with what they were twelve months ago, although they show an improvement on the values of six months ago. There has been great depression, but there is now a partial recovery. There are forty steamers regularly trading to the harbour or San Francisco, and at the time the summary was made up there were 128 vessels

en route tp the port. The increase in population is considerable, and in advance of previous years. During the first six months .of the present year the increase of arrivals over departures shows a gain of no less than 20,000 persons, and the estimate is that the result of the year will show a gain of fully 40,000. This is partly due to the immense efforts made to draw labourers for the construction of the great railroad, but the opening up of the country by that line is very likely to cause the permanent settlement of a great many of the new arrivals,

The rails arc now laid, and locomotives are runuiug for a distance of 178 miles east of Sacramento, and the highest summit level of the line, which is GBOO feet above the sea, has already been crossed. The ascent to that he ; ght has to he made in 100 miles, and is achieved with a gradient not exceeding 1 in 45.

Most of the new comers seem to have arrived by way of Panama, and are, therefore, probably from the Eastern States. The arrivals from Australia during the first half of the present year arc entered at 157.