HISTORY OF CALIFORNIA. 179 



and value is not accurately ascertained, the allure- 

 ments held out by the continued success of the <2jold- 

 miners and the continued discovery of new and profit- 

 able placers being too strong to permit any search for 

 the baser, but more useful metals. Respecting the 

 propriety of the establishment of a mint in California, 

 Mr. Kino: makes the folloAvin2 observations — 



'' I have already alluded to the propriety of estab- 

 lishing a mint in California. TJiis is important in 

 many respects. At this time, there is not coin in the 

 country to supply a currency. Much difiiculty is 

 experienced in procuring enough to pay the duties on 

 imported goods. The common circulating medium is, 

 therefore, gold dust, -which is sold at §15 oO to $16 

 per ounce. In the mines, it is frequently sold much 

 lower. The miners, the laboring men, are the 

 sufferers from this state of things. 



" Those who pui-chase and ship gold to the Atlantic 

 States make large profits: hut those who dij lose vjJiat 

 others make. 



"I have estimated that there will be §50,000,000 

 collected during the current year. At §16 per ounce, 

 that sum will weigh 3,125,000 ounces. 



" Gold, at the United States mint, is worth §18 

 per ounce, making a difference in value on that quan- 

 tity, between San Francisco and Xew York, of 

 §6,250,000, which would be saved to the miners by 

 the establishment of a mint. 



" I have also suggested its importance as a means 

 of promoting and increasing our trade with the west 

 coast of Mexico and South America. 



^'It is not doubted that the construction of a rail- 

 way across the Isthmus of Panama, and, perhaps, the 

 establishment of other lines of communication between 



