For my part, I have good reason to remember the drought and crisis of 1864, not alone because times were miserably hard and prosperity seemed to have disappeared forever, or that the important revenue from Uncle Sam, although it relieved the situation, was never sufficient to go around, but also because of an unfortunate investment. I bought and shipped many thousands of hides which owners had taken from the carcasses of their starved cattle, forwarding them to San Francisco by schooner or steamer, and thence to New York by sailing vessel. A large number had commenced to putrefy before they were removed, which fact escaped my attention; and on their arrival in the East, the decomposing skins had to be taken out to sea again and thrown overboard, so that the net results of this venture were disastrous. However, we all met the difficulties of the situation as philosophically as we could. There were no railroads in California until the late sixties and, consequently, there was no regular method of concentration, nor any systematic marketing of products; and this had a very bad economic effect on the whole State. Prices were extremely high during her early history, and especially so in 1864. Barley sold at three and a half cents per pound; potatoes went up to twelve and a half cents; and flour reached fifteen dollars per barrel, at wholesale. Much flour in wooden barrels was then brought from New York by sailing vessels; and my brother imported a lot during a period of inflation, some of which he sold at thirteen dollars. Isaac Friedlander, a San Francisco pioneer, who was not alone the tallest man in that city but was as well a giant operator in grain and its products, practically monopolized the wheat and flour business of the town; and when he heard of this interference, he purchased all the remainder of my brother's flour at thirteen dollars a barrel, and so secured control of the situation. Just before this transaction, I happened to be in San Francisco and noticing the advertisement of an approaching flour auction, I attended the sale. This particular lot was packed in sacks which had been eaten into by rats and mice and had, in consequence, to be resacked, sweepings and all. I bought one hundred barrels and shipped the flour to Los Angeles, and B. Dubordieu, the corpulent little French baker, considered himself fortunate in obtaining it at fifteen dollars per barrel. Speaking of foodstuffs, I may note that red beans then commanded a price of twelve and a half cents per pound, until a sailing vessel from Chile unexpectedly landed a cargo in San Francisco and sent the price dropping to a cent and a quarter; when commission men, among them myself, suffered heavy losses.