The possibility of the unearned increment is a great factor in the social evolution of California. Its influence has been widespread, persistent, and, in most regards, baneful. The Anglo-Saxon first came to California for gold to be had for the picking up. The hope of securing something for nothing, money or health without earning it, has been the motive for a large share of the subsequent immigration. From those who have grown rich through undeserved prosperity, and from those who have grown poor in the quest of it, California has suffered sorely. Even now, far and wide, people think of California as a region where wealth is not dependent on thrift, where one can somehow “strike it rich” without that tedious attention to details and expenses which wears out life in effete regions such as Europe and the Eastern states. In this feeling there is just enough of truth to keep the notion alive, but never enough to save from disaster those who make it a working hypothesis. The hope of great or sudden wealth has been the mainspring of enterprise in California, but it has also been the excuse for shiftlessness and recklessness, the cause of social disintegration and moral decay. The “Argonauts of ’49” were a strong, self-reliant, generous body of men. They came for gold, and gold in abundance. Most of them found it, and some of them retained it. Following them came a miscellaneous array of parasites and plunderers; gamblers, dive-keepers and saloon-keepers, who fed fat on the spoils of the Argonauts. Every Roaring Camp had its Jack Hamlin as well as its Flynn of Virginia, John Oakhurst came with Yuba Bill, and the wild, strong, generous, reckless aggregate cared little for thrift, and wasted more than they earned.
But it is not gold alone that in California has dazzled men with visions of sudden wealth. Orange groves, peach orchards, prune orchards, wheat raising, lumbering, horse-farms; chicken-ranches, bee-ranches, sheep-breeding, seal-poaching, cod-fishing, salmon-canning — each of these has held out the same glittering possibility. Even the humblest ventures have caught the prevailing tone of speculation. Industry and trade have been followed, not for a living, but for sudden wealth,