of many millions of dollars, are
now annually diverted and carried by the ships of Great Britain to her
own ports, to be recoined or used to sustain her national bank, and thus
contribute to increase her ability to command so much of the commerce of
the world. If a branch mint be established at the great commercial point
upon that coast, a vast amount of bullion and specie would flow thither
to be recoined, and pass thence to New Orleans, New York, and other
Atlantic cities. The amount of our constitutional currency at home would
be greatly increased, while its circulation abroad would be promoted. It
is well known to our merchants trading to China and the west coast of
America that great inconvenience and loss are experienced from the fact
that our coins are not current at their par value in those countries.

The powers of Europe, far removed from the west coast of America by
the Atlantic Ocean, which intervenes, and by a tedious and dangerous
navigation around the southern cape of the continent of America, can
never successfully compete with the United States in the rich and
extensive commerce which is opened to us at so much less cost by the
acquisition of California.

The vast importance and commercial advantages of California have
heretofore remained undeveloped by the Government of the country of
which it constituted a part. Now that this fine province is a part of
our country, all the States of the Union, some more immediately and
directly than others, are deeply interested in the speedy development of
its wealth and resources. No section of our country is more interested
or will be more benefited than the commercial, navigating, and
manufacturing interests of the Eastern States. Our planting and farming
interests in every part of the Union will be greatly benefited by it.
As our commerce and navigation are enlarged and extended, our exports of
agricultural products and of manufactures will be increased, and in the
new markets thus opened they can not fail to command remunerating and
profitable prices.

The acquisition of California and New Mexico, the settlement of the
Oregon boundary, and the annexation of Texas, extending to the Rio
Grande, are results which, combined, are of greater consequence and will
add more to the strength and wealth of the nation than any which have
preceded them since the adoption of the Constitution.

But to effect these great results not only California, but New Mexico,
must be