CALIFORNIA AND ITS PROSPECTS.

Evening Star, Issue 4053, 22 February 1876, Page 3

CALIFORNIA AND ITS PROSPECTS.

{From our own Correspondent.) Sioca I last wrote you a fiaanid panic has cast a gloom. over the sunny valleys of California, The suspension of the Bank of California (supposed to be one of the most substantial institutions in the State) 'was quickly followed by the untimely death of W, G. Jtalaton. ite president, and the disastrous fire in Virginia City. Still in the face of all these disasters, and although the demand for gold coin strain' d every financial ne vp. the reserves of the Country were so vest that beyond causing higher rates of interest, the sounds o f industry went on unimpeded by the mighty shock, and seemed to echo with greater force in the . stilltees of pub ic suspense. Times were apparently hard; loans on short terms ranging fiom three to five per cent. Many banks wore closed for indefinite periods, yet business went on, and, with the exception of a few instances, bank- - ruptcy his not occurred. There has scarcely been an Instance of oppression; nearly all have. ■ joined at in a common coi-e, and been liberal to e.ch other. J here is undoubtedly a great - -future before this country. Its resources are * inexhaustible, and ages will elapse before they '■ are prope ly developed. The owners of large tracts of land l a»e offering every inducement to

settlers possessed of small means—say with from L3OO to I>soo, and even less. A man with means can do well, and for such peop’e the southern part of Calfomia offers advantages which but few countries j ossess. t Mexico is now causing a good de d of att-ac-tion by its liberal land policy, and is a very different country from what it is rew eentedto be. A respectable man is treated with respect, and as a rule the Mexicans are respectful and courteous. Instances of outrage are generally provoked by filibusters]s and adventurers - men who escape the penalty of their own law's, and think they can treat the Mexican with contempt. Mexico is anxious to intermix with the Anglo-Saxon race. Foreigner fiom eviry coqntry have a preference before Americans or natives of any adjoining State. The money market is getting eas’fcr, and Christmas holidays will perhaps dispel the sad events of the past.