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Rh brought from places thousands of miles distant. This precarious means of supply, together with the enormous and reckless purchasing power developed by the rapid production of gold from the mines, naturally created a speculative and artificial standard of values, and goods of every description sold for fabulous amounts: Beef, pork, and flour brought from $40 to $60 per barrel; tea, coffee, and sugar, $4 a pound; spirits, $10 to $40 a quart; playing-cards, $5 a pack; cowhide boots, $45 a pair; picks and shovels from $5 to $15 each; wooden and tin bowls from $2.50 to $7.50 each; laudanum, $1 a drop, and so on. These were by no means high prices for stevedores and laborers receiving from $20 to $30 a day, and miners who were making anywhere from $100 to $1000 a day washing dirt at the mines.

An idea of the amount of gold produced may be gained from the fact that the Pacific Mail Company, whose first steamship, the California, arrived at San Francisco via the Straits of Magellan, February 28, 1849, had by the end of 1852 shipped gold from that city to the value of $121,766,425.

The speculators and shippers of merchandise in the Eastern States were as deeply interested in the output of the mines of California as the gold diggers themselves. No one could predict how long this state of affairs would continue; with them speed meant everything; a week or even a day's delay might result in heavy losses, or what was to them the same thing, failure to reap large profits. They could not send their goods across the continent, and the Pacific Mail Company had all that it could