AMERICA—CALIFORNIA.

New Zealander, Volume 5, Issue 347, 28 August 1849, Page 4

AMERICA— CALIFORNIA.

The political news by the arriral of the mail steamer America, which left Boston on the 21 it of March, are very meagre. The most important feature under this head is the sensation created amongst the American public by the newsbrought by the steamer America of the announcement by Mr. Bancroft of their willingness to reciprocate with England in the repeal of the Navigation Laws. The New York Courier, a paper of high standing, after severely reprobating the conduct of Mr. Bancioft, the representative of an outgoing and non-protective government in pledging the present administration of such a policy, which is foreign to their principles, affirms that : — '• Whatever be the coarse which the British cabinet and parliament may adopt, as to modifying and repealing their Navigation Laws, Congress will not reciprocate. If, indeed, as seems to be understood, the coasting trade is to be uncovered and open, as well as foreign trade, there would be no real reciprocity even as between Great Britain and the United States, and we should yield far more than we can obtain ; but when it is considered that treatise called 'of reciprocity' which we have negociated with all European na tions almost from the Capes of Portugal to the Frozen Ocean, require that commercial concesbions made thereafter to any nation in the abrogation of duties or jestrictions, ih.ill be common to all { eople with whom these treat Ue exist, it will be perceived how mischie. vout would be the operation of a repeal ofournavig»tion laws upon American shipping and shipping interests." It u »aid that Mr. Bancroft will certainly be recalled, and Mr. Webst? r is generally spoken of as bit successor. Congress not being in session — the senate merely sitting in its character as adviser of the executive, undertakes no legislative business, A call, however, for informafton, but not for preient legislative action, has been made upon the president. The ferment in Canada still continues ; aud notwithstanding the pacific pledges of the new president on the subject of interference with the affairs of other nations, it is held that— '• If thete were to ba anything like a general rising in the Cauadas, and an offer ot fraternization (to use the term of the day in France) with us, it would be all but impossible to prevent the people from rushing to tli e contest." I Sikcik. — In reference to the low rate of exchange I inNfw York, the Sun remarks :— i " Whether we obtain specie from California, certain it is thai we are about to draw a large amount from John Bull. Exchange in London ha* gone down to ]06, and the par rate being about 1091, lt fallows that specie isno.v worth nearly three and a-balf jer cent, more in New York thnn in London. We may therefor* look for large imports of specie either from

England direct, or from Mexico on English account, within the next six months. A few millions of silver will be very acceptable, until we can get ' them ship loads of gold from California/ when ne shall repay John Bull with interest." Another destructive fire had occurred at St. John, N 8., by which upwards of one hundred building! were said to have been levelled with the ground. The full particulars of the damage had not reached New York.

California.—- The arrival of the Wet Season, and the suspension of gold digging, has a little abated the excitement lately prevaihngp. Numbers of vessels, however, are proceeding to the country, generally carrying a superior clais of emigrants. We extract the following late intelligence from the New York Courier. *' Acapulco, February 11, 1848. "Th c general impression is, from the various reports, Hccounti, and information obtained along this coast, that wo got all the good news from the gold diggings, the bad being left for our arrival. From authentic accounts brought by the English frigate Herald, to the 26th November last, we learn that some persons were averaging from 30 to 40 dollars per day, but the majority, from sixty to ninety days through did not realize 15 dollars per day. Goods were low with a few exceptions of tome articles that were scarce. " During the wet seaion, say the last four months, some two or three thousand miners had arrived at San Franeiico and Monterey, and such a scene of gambling dissipation and fighting was never witnessed before."