COMMERCE. 331 



reported ut the eiistom-liouse, are taken away by passengers ; 

 and in the amount of treasure reported by manifest for exporta- 

 tion, the gold is not distinguished from the silver. The amount 

 of treasure exported in 1861 was $40,639,089 57; and proba- 

 bly not more than ^1,000,000 of silver is included in the sum. 

 Of this treasure, $32,628,010 were sent to Xew York, $4,054,- 

 436 to England, $3,525,325 to China, $338,536 to Panama, 

 $58,220 to Japan, $12,459 to Honolulu, $9,000 to Manilla, $6,000 

 to Singapore, and $7,100 to Mexico. As compared with pre- 

 vious years, the export of treasure in 1861 shows a falling off 

 from 1860 of $1,664,256 ; of $7,025,908 from 1859; $6,908,936 

 from 1858; $8,337,608 from 1857; $8,247,454 from 1856; 

 $4,543,542 from 1855; $10,689,564 from 1854; $16,691,935 

 from 1853; $5,947,055 from 1852; and $1,943,606 as com- 

 pared with 1851. The total treasure export in 1850 was $27,r 

 676,346, and $4,921,250 in 1849, as manifested at the custom- 

 house. From 1848 to 1854, large sums were carried away by 

 passengers. 



After the gold, in importance as an export, we may place 

 silver ; which, however, is not all produced within the borders 

 of California, and Avhich is surpassed in value by wheat. But 

 as one of the permanent exports of San Francisco, silver will 

 undoubtedly have the next place to gold. The silver contained 

 in the gold of California amounts to about $200,000 annually; 

 and that produced by Washoe may have amounted in 1861 to 

 $2,500,000. Hitherto very little silver has been exported ; but 

 it is accumulating so rapidly, and it is so inconvenient, in a 

 country where so little small coin is used, that it must be sent 

 away hereafter. It is already at a discount of two per cent. 



For several years past, California has exported large quan- 

 tities of wheat and flour. In 1861, we exported 1,350,783 

 sacks of wheat and 170,562 barrels of flour, worth together 

 $3,500,000. In 1860, the value was about $2,500,000 ; in 1859, 

 about $1,100,000; in 1858, about $120,000; in 1857, about 

 $70,000. However, we cannot expect that this ratio of in- 

 crease can be maintained ; we have now reached the summit, 



