Early Realty Values
In 1850 I was in San Francisco and by chance was on Clay street where the city was selling 50-vara water lots in the neighborhood of Sansome, Battery and Front streets, at auction, $25 for inside lot, and $30 for corner lots. I stood there with my hands in my pockets, and gold dust and gold coin on my person that was a burden to me and bought not a single lot. There were many others who were in the same fix that I was. You may say, “What a lot of fools,” and I would say, “Yes.” Here is another little joke: Sometime before this I made a deposit of a sack of gold dust with Adams & Co.’s Express in San Francisco. When the time came for me to leave the city, I went into the office to draw my sack of dust. The clerk brought it forward at once and I said, “How much for the deposit?” He said, “Five dollars.” Then I said, “You will have to take it out of the sack as I have no coin.” He said, “Are you going to sell it?” “Yes,” I said. “Well,” said he, “You can sell it at the counter on the other side, and pay that clerk.” “All right,” said I, and sold my dust. It amounted to $425. He counted out the $25 in small change, and slipped it out onto the counter. I let it lay there until he had counted out the rest.