PREFACE. 



The occupation of California by the people 

 of the United States, and the discovery of its 

 rich gold mines, form a new era in the historj^ 

 of the world. According to present appear- 

 ances, these events forebode a complete revolu- 

 tion in monetary and commercial afiairs. The 

 receipts of gold from California have already 

 produced a sensible effect on the financial af- 

 fairs of our country ; and far-seeing people pre- 

 dict an entirely new state of things with respect 

 to the Relative value of money and property. 



Still more important effects are anticipated 

 from the establishment of a new, rich, and en- 

 terprising State of the American Union on the 

 shores of the Pacific. Railroads across the con- 

 tinent will soon transport tiic rich products of 

 Eastern Asia, by a quick transit, to the Atlan- 

 tic cities and to Europe; and a passage to 

 China or India, which was formerly a serious 

 undertaking, vrill become a pleasant excursion. 



(3) 



