Certainly no new country ever so rapidly advanced to the same high position as California; but it is equally true that no country ever commenced its career with such an effective population, or with the same elements of wealth to work upon. There are circumstances, however, connected with the early history of the country which may not appear to be so favorable to immediate prosperity and progress. Other new countries have been peopled by gradual accessions to an already formed center, from which the rest of the mass received character and consistency; but in the case of California the process was much more abrupt. Thousands of men, hitherto unknown to each other, and without mutual relationship, were thrown suddenly together, unrestrained by conventional or domestic obligations, and all more intently bent than men usually are upon the one immediate object of acquiring wealth. It is to be wondered that chaos and anarchy were not at first the result of such a state of things; but such was never the case in any part of the country; and it is, no doubt, greatly owing to the large proportion of superior men among the early settlers, and to the capacity for self-government possessed by all classes of Americans, that a system of government was at once organized and maintained, and that the country was so soon entitled to rank as one of the most important States of the Union. The consequences to the rest of the world of the gold of California it is not easy to determine, and it is not for me to enter upon the great question as to the effect on prices of an addition to the quantity of precious metals in the world of £250,000,000, which in round numbers is the estimated amount of gold and silver produced within the last eight years.[6] It seems, however, more than probable that the present high range of prices may, to a certain extent, be caused by this immense addition to our stock of gold and silver. But the question becomes more complicated when we consider the extraordinary impetus given to commerce and manufactures by this sudden production of gold acting simultaneously with the equally expanding influence of Free Trade. The time cannot be far off when this important investigation must be entered upon with all that talent which can be brought to bear upon it. But this is the domain of philosophers, and of those whose part in life it is to do the deep-thinking for the rest of the world. I have no desire to trespass on such ground, and abstain also from fruitlessly wandering in the endless mazes of the Currency question.