CALIFORNIA. 327 
yield of wheat from harvest in 1874, 31,000,000 bushels; surplus 
over home needs, 700,000 tons. 
The dryness of the climate necessitates canals for irrigation, 
several of which are building, one to run a distance of 125 miles 
through the great San Joaquin valley, 52 feet wide and 6 feet 
deep; grade, one foot to mile. 
Exports of wine and brandy for 1873, 900,000 gallons, or 
867,000 gallons wine, 110,000 gallons brandy. Many varieties 
of the eucalyptus are being largely planted—the ucalyptus 
undulatus, of which four varieties are being used—the red, white, 
and stringy bark—as ornamental and forest trees; the swamp 
variety in wet soil, on account of its drying action on the soil, 
thereby reducing the danger of malaria. The £. globulus, or blue 
gum, and /. pepperita, both with fragrant leaves, are much used 
for ornament in dry soils. 
The lecturer argued that the Greenback now excluded from 
California alone, would be injurious, because a large surplus of the 
agricultural yield must be for some time sent to countries having 
gold as the standard of value. Whatever these staples, therefore, 
are worth in gold in California for shipment, determines the value 
of the entire crop; the price of the whole depends on the value of 
the surplus exported. Articles produced and consumed within the 
country are measured by home currency—paper money—and are 
necessarily greatly advanced in price, because the currency is 
greatly expanded; and it is an accepted principle that general 
prices depend upon the quantity of the existing currency. For 
this reason all the farmer purchases from home manufacturers is 
much enhanced in value, whilst his products in the main remain 
at their former prices. : 
Mining interests would be affected by the currency thus. Gold 
and silver are wanted throughout the commercial world for use as 
money. The greater the demand, the greater the value; therefore 
anything which tends to diminish the demand reduces the value. 
Gold and silver being only wanted for payment of duties at 
customs, and interest on the national bonds, the quantity necessary 
to banks would be small; therefore they must be exported, and 
sold for what they are worth in other countries. The result is to 
lessen their value. For example, boots and shoes, which in 1860, 
when the currency was at par with gold, could be bought for $38, 
are now worth $4.50. The miner, therefore, pays 50 per cent. 
be 
