We also annex an abstract of the commissioners reports for the last fifteen years, exhibiting the comparative condition of the banks at the dates mentioned. ABSTRACT FROM THE BANK COMMISSIONERS' REPORTS FOR THE LAST FIFTEEN YEARS. Capital. EXPORT OF GOLD FROM CALIFORNIA FOR 1850. The San Francisco Herald gave an estimate at the close of the year 1850, of the production of gold in California, from the first of April, 1849, to the 31st of December, 1850. That statement was published in the Merchants' Magazine for March, 1851, (vol. xxiv., pages 387-388.) from which it appeared that the amount to 31st of December, 1850, reached the sum of $68,587,591. The Herald continues this subject by giving a statement of the value of gold produced by the mines within the quarter, commencing on the 1st of January, and terminating on the 31st of March, 1851. The facts which are given are derived from official records, and may be relied on as correct. The estimates of the Herald are matters of opinion, based, however, upon reliable information, gathered from authentic sources. STATEMENT No. 1. SHOWING THE AMOUNT OF GOLD DUST SHIPPED FROM SAN FRANCISCO FOR THE MONTHS PASSENGERS ARE AT AN AVERAGE OF $400 EACH. OF FEBRUARY AND MARCH, 1851. Of the above sum of $8,237,542, the Pacific Mail Steamship Company carried $4,528,941; Law's line, $2,511,000; the New Orleans, of the Empire City Line, 1,108,105-all running to Panama; the remainder, $79,496, was carried by sailing vessels to Valparaiso. The above sum of $10,689,142 comprises two items of export, namely, the amount of gold appearing on the books of the various steamship companies, and that estimated to have been carried by passengers. To this, of course, must be added many other items to arrive at the actual production of gold by the mines. Large amounts have been coined by our various coining establishments, now numbering six; our jewellers have worked up a considerable sum; miners from Mexico, Chili, Oregon, and other places have carried off large amounts. Many of our merchants have sent off considerable sums to China, the Sandwich Islands, Mexico, and various countries in South America, on the Pacific, and to the numerous islands, with which to pay for return cargoes. These sums do not appear on the custom-house books. Large amounts remain in the hands of miners, merchants, and others. We have carefully collected all the reliable data upon which estimates of these sums may be founded, and subjoin a statement. Stamped bullion, by STATEMENT NO. II. Jewelry manufactured by Baldwin & Co..... Moffat & Co., up to January 27th, when they ceased coining. United States Assay Oflice.... Shultz & Co... Dubosq & Co... Jacks & Brothers.. $590,000 89,000 530.000 98.000 150,000 10,000 To these amounts may be added the following estimates, which are made up from the best information that can be obtained from well-informed persons:Gold dust carried overland and coastwise by miners from Mexico, Chilli, Oregon, &c.. $1,000,000 Shipped by merchants, of which there is no manifest entry... 450,000 1,000,000 Total... $2,450,000 RECAPITULATION, Gold dust shipped by steamers for the quarter ending March 31st..... In the above estimates the value of gold dust has been computed at $16 the ounce troy. If we add $1 per ounce to this, we will have the present California value.... Total.. Add to this 60 cents more, per ounce, and we get the mint value.... Grand total... . . . $15,572,151 458,004 $16,030,155 This, then, is the amount of gold dust that has been produced by the mines of California for the first quarter of 1851. If we take this as a standard in estimating the product for the year, the total production for 1851 would be $64,120,620, and we think this standard quite a fair one, as the experience of the past two years proves that the amounts mined in the first quarter of the year were considerably less than in any three subsequent months. The opening of the rich Trinity mines, the operations of the companies just commencing, to the auriferous quartz, from neither of which sources have any returns of consequence been as yet received, will all add to the relative production of the months to come. The quartz mining is as yet in its infancy. The machinery hitherto imported has not been found to answer the desired purpose, and the operations are, therefore, not as yet fairly commenced. There are several companies, however, with large capital invested, earnestly intent upon working the mines with all the appliances that science and perseverance can bring to their aid. The result of their operations will doubtless be to develop during the summer the hitherto latent riches of the quartz rock. It is probable that over one hundred veins have been discovered in different parts of the country, although not more than six or eight are now worked. Many of these beds are richer than any hitherto discovered in any portion of the world, and when fully developed, by means of capital and steam, must yield vast quantities of the precious metal. The Indian disturbances have likewise hitherto retarded minining operations. Peace being established with the border tribes, the mines will again be successfully worked. All things considered, it is probable the yield of the California mines for the year 1851, will not fall short of seventy millions of dollars, and may possibly far exceed that sum. In 1839 Mr. McCulloch estimated the entire annual produce of the American, European, and Russo-Asiastic mines at six millions pounds sterling, or about twenty-eight millions of dollars of the precious metals. THE REVENUE OF GREAT BRITAIN IN 1850-51. AN ABSTRACT OF THE NET PRODUCE OF THE REVENUE OF GREAT BRITAIN, IN THE YEARS AND QUARTERS ending april 5, 1850 AND 1851, SHOWING THE INCREASE OR DECREASE PROCEEDS OF GOLD DUST AT THE MINT. The following statement, showing the result or proceeds of various remittances to the United States Mint at Philadelphia, is from a respectable mercantile house in San Francisco, California : A good deal of attention being now given to the currency and gold dust, I beg leave to send you below a statement of the outturn of several remittances which I have made since 1st July, 1850, showing the constant deterioration in the quality of gold dust here since that period, which I think may prove interesting to your readers. Remittance received in New York, August 12, 1850... $14,605 86 335 93 $14,941 79 $15.841 16 Less 2 per cent insurance... 365 15 Net proceeds..... $15,476 01 Equal to 103 575 1000 per cent on the cost of this remittance. Remittance received in New York, November 7, 1850 $25,000 00 Less insurance, 24 per cent... Net proceeds..... Equal to 100 445-1000 per cent on the cost of this remittance. Remittance received February 20, 1851.. Cost of Gold...... $5,225 00 120 17 $5,345 17 $5,500 58 130 63 $5,369 95 $10,500 00 Charges as above...... 241 50 $10,741 50 Net proceeds from the Mint... Less insurance, 2 per cent.. $11,053 32 252 50 Net proceeds....... $10,800 82 Equal to 100 552-1000 per cent on cost of this remittance. Equal to 100 222-1000 per cent on the cost of this remittance. $20,460 00 $21,005 84 500 00 $20,505 34 N. B.-The gold dust shipped above was selected with great care and pains, and you will please note that the gain on remittances now cannot be estimated at more than one quarter to one-half per cent. Exchange must therefore be at a premium. UNITED STATES TREASURER'S STATEMENT FOR MAY, 1851. TREASURER'S STATEMENT, SHOWING THE AMOUNT AT HIS CREDIT IN THE TREASURY, WITH ASSISTANT TREASURERS AND DESIGNATED DEPOSITARIES, AND IN THE MINT AND BRANCHES, BY RETURNS RECEIVED TO MONDAY, MAY 26, 1851, THE AMOUNT FOR WHICH DRAFTS HAVE BEEN ISSUED BUT WERE THEN UNPAID, AND THE AMOUNT THEN REMAINING SUBJECT TO DRAFT. SHOWING, ALSO, THE AMOUNT OF FUTURE TRANSFERS TO AND FROM DEPOSITARIES, AS ORDERED BY THE SECRETARY OF THE TREASURY. Tran-fers ordered to Treasury of the United States, Washington. Total.... OF MUTUAL FIRE INSURANCE COMPANIES. $14,259,274 08 100,000 00 1,100,000 00 120,000 00 $1,320,000 00 The following act in relation to Mutual Fire Insurance Companies was passed by the "People of New York, represented in Senate and Assembly," April 17th, 1851. SECTION 1. No member of any mutual fire insurance company, organized under the laws of this State, shall be allowed to vote by proxy for a director, or directors, of any such company. |