little doubt that many of the people who went to the Pacific coast in
the early days of the gold excitement, and have never been heard from
since, or who were heard from for a time and then ceased to write, found
watery graves beneath the houses or streets built over San Francisco
Bay.

Besides the gambling in cards there was gambling on a larger scale in
city lots. These were sold "On Change," much as stocks are now sold on
Wall Street. Cash, at time of purchase, was always paid by the broker;
but the purchaser had only to put up his margin. He was charged at the
rate of two or three per cent. a month on the difference, besides
commissions. The sand hills, some of them almost inaccessible to
foot-passengers, were surveyed off and mapped into fifty vara lots--a
vara being a Spanish yard. These were sold at first at very low prices,
but were sold and resold for higher prices until they went up to many
thousands of dollars. The brokers did a fine business, and so did many
such purchasers as were sharp enough to quit purchasing before the final
crash came. As the city grew, the sand hills back of the town furnished
material for filling up the bay under the houses and streets, and still
further out. The temporary houses, first built over the water in the
harbor, soon gave way to more solid structures. The main business part
of the city now is on solid ground, made where vessels of the largest
class lay at anchor in the early days. I was in San Francisco again in
1854. Gambling houses had disappeared from public view. The city had
become staid and orderly.



CHAPTER XVI.