Memoirs of General William T. Sherman - Complete

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oad, and to pay the hands. The firm in St. Louis and that in San Francisco were different, having different partners, and the St. Louis house naturally pressed the San Francisco firm to ship largely of "gold-dust," which gave them a great name; also to keep as large a balance as possible in New York to sustain their credit. Mr. Page was a very wealthy man, but his wealth consisted mostly of land and property in St. Louis. He was an old man, and a good one; had been a baker, and knew little of banking as a business. This part of his general business was managed exclusively by

lth and stability. They must have had, during that winter, an average deposit account of nearly two million dollars, of which seven hundred thousand dollars was in "certificates of deposit," the most stable of all accounts in a bank. Thousands of miners invested their earnings in such certificates, which they converted into drafts on New York, when they were ready to go home or wanted to send their "pile" to their families. Adams & Co. were next in order, because of their numerous offices scattered throughout the mining country. A gentleman

paid. It was expected that this assertion would quiet the fears of the California creditors, but for the next three days there was a steady "run" on that bank. Page, Bacon & Co. stood the first day's run very well, and, as I afterward learned, paid out about six hundred thousand dollars in gold coin. On the 20th of February Henry Height came to our bank, to see what help we were willing to give him; but I was out, and Nisbet could not answer positively for the firm. Our condition was then very strong. The deposit account was about six hundred thousand dollars, and we had in our vault about five hundred thousand dollars in coin and bullion, besides an equal amount of good bills receivable. Still I did not like to weaken ourselves to help others; but in a most friendly spirit, that night after bank-hours, I went down to Page, Bacon & Co., and entered their office from the rear. I found in the cashier's room Folsom, Parrott, Dewey and Payne, Captain Rit

s could be in part converted or realized; but I naturally inquired of Folsom, "Have you personally examined the accounts, as herein recited, and the assets, enough to warrant your signature to this paper?" for, "thereby you in effect become indorsers." Folsom said they had not, when Height turned on me rudely and said, "Do you think the affairs of such a house as Page, Bacon & Co. can be critically examined in an hour?" I answered: "These gentlemen can do what they please, but they have twelve hours before the bank will open on the morrow, and if the ledger is written up" (as I believed it was or could be by midnight), "they can (by counting the coin, bullion on hand, and notes or stocks of immediate realization) approximate near enough for them to indorse for the remainder." But Height pooh-poohed me, and I left. Folsom followed me out, told me he could not afford to imperil all he had, and asked my advice. I explained to

was printed a short notice that, for "want of coin," Page, Bacon & Co. found it necessary to close their bank for a short time. Of course, we all knew the consequences, and that every other bank in San Francisco would be tried. During the 22d we all kept open, and watched our depositors closely; but the day was generally observed by the people as a holiday, and the firemen paraded the streets of San Francisco in unusual strength. But, on writing up our books that night, we found that our deposit account had diminishe

t: coin, three hundred and eighty thousand dollars; bullion, seventy-five thousand dollars; and bills receivable, about six hundred thousand dollars. Of these, at least one hun

me he had just come up from the office of Adams & Co., to tell me that their affairs were in such condition that they would not open that morning at all; and that this, added to

rtificates; still, others with larger accounts were in the crowd, pushing forward for their balances. All were promptly met and paid. Several gentlemen of my personal acquaintance merely asked my word of honor that their

r nearly all, the banks of the city; and I was told that parties on the street were betting high, first, that we would close our doors at eleven o

er happened that identical case, narrated of others, of the Frenchman, who was nearly squeezed to death in getting to the counter, and, when

sly, small amounts, not aggregating more than eight or ten thousand dollars. Boo

llars, secured by a mortgage on the American Theatre and Tehama Hotel; James Smiley, contractor for building the Custom-House, who owed us two notes of twenty thousand and sixteen thousand dollars, for which we held, as collateral, two acceptances of the collector of the port, Major R. P. Hammond, for twenty thousand dollars each; besides other private parties that I need not name. The acceptances

use, on Rincon Hill, and found him there. I explained to him exactly Smiley's affairs, and only asked him to pay one of his acceptances. He inquired, "Why not both?" I answered that was so much the better; it would put me under still greater obligations. He then agreed to meet me at our bank at 10 P.M. I sent word to others that I demanded them to pay what they could on their paper, and then returned to the bank, to meet Hammond. In due time, he came down with Palmer (of Palmer, Cook & Co.), and there he met Smiley, who was, of course, very anxious to retire his notes. We there discussed the matter fully, when Hammond said, "Sherman, give me up my two acceptances, and I will substitute therefor my check of forty thousand dollars," with "the distinct understanding

dered as described; and Smiley's two notes were afterward paid in their due course, out of the cash received on those identical acceptances. But, years afterward, on settling with Hammond for the Custom-House contract when completed, there was a difference, and Smiley sued Lucas, Turner & Co. for money had and received for his benefit, being the identical forty thousand dollars herein explained, but he lost his case. Hammond, too, was afterward removed from office, and indicted in part for this

t on Harrison Street, between Fremont and First, on which there was a small cottage, and I had contracted for the building of a n

Fortunately she did not sink fast, but swung off into deep water, and Commodore Watkins happening to be on deck at the moment, walking with Mr. Aspinwall, learning that the water was rushing in with great rapidity, gave orders for a full head of steam, and turned the vessel's bow straight for the Island Quicara. The water rose rapidly in the hold, the passengers were all assembled, fearful of going down, the fires were out, and the last revolution of the wheels made, when her bow touched gently on the beach, and the vessel's stern sank in deep water. Lines were got out, and the ship held in an upright position, so that the passengers were safe, and but little incommoded. I have often heard Mrs. Sherman tell of the boy Eagan, then about fourteen years old, coming to her state-room, and telling to her not to be afraid, as he was a good swimmer; but on coming out into the cabin, partially dressed, she felt more confidence in the cool manner, bearing, and greater strength of Mr. Winters. There must have been nearly a thousand souls on board at the time, few of whom could have been saved had the steamer gone dow

wman, who meantime had bought a lot next to us and erected a house thereon, removed to it,

d one of those unhappy events, too common to new cou

, so that the affairs of the city government necessarily passed into the hands of a low set of professional politicians. Among them was a man named James Casey, who edited a small paper, the printing office of which was in a room on the third floor of our banking office. I hardly knew him by sight, and rarely if ever saw his paper; but one day Mr. Sather, of the excellent banking firm of Drexel, Sather & Church, came to me, and called my attention to an article in Casey's paper so full of falsehood and malice, that we construed it as an effort to black-mail the banks generally. At that time we were all laboring to restore confidence, which had been so rudely shaken by the panic, and I went up-stairs, found Casey, and pointed out to him the objectionable nature of his article, told him plainly that I could not tolerate his attempt to print

g notice that he would shoot him on sight. King remained in his office till about 5 or 6 p.m., when he started toward his home on Stockton Street, and, as he neared the corner of Washington, Casey approached him from the opposite direction, called to him, and began firing. King had on a short cloak, and in his breast-pocket a small pistol, which he did not use. One of Casey's shots struck him high up in the breast, from which he reeled, was caught by some passing friend, and carried into the express-office on the corner, where he was laid on the counter; and a surgeon sent for. Casey

r guns, commanded by a Captain Johns, formerly of the army, and two or three uniformed companies of infantry. After dinner I went down town to see what was going on; found that King had been removed to a room in the Metropolitan Block; that his life was in great peril; that Casey was safe in jail, and the sheriff had called to his assistance a posse of the city police, some citizens, and one of the militia companies. The people were gathered in g

ng's room, ascertained that he was slowly sinking, and could not live long; and then near midnight we walked to the Turnverein Hall, where the committee was known to be sitting in consultation. This hall was on Bush Street, at about the intersection of Stockton. It was all lighted up within, but the door was locked. The Governor knocked at the door, and on inquiry from inside "Who's there?"-gave his name. After some delay we were admitted into a sort of vestibule, beyond which was a large hall, and we could hear the suppressed voices of a multitude. We were shown into a bar-room to the right, when the Governor asked to see Coleman. The man left us, went into the main hall, and soon returned with Coleman, who was pale and agitated. After shaking hands all round, the Governor said, "Coleman, what the devil is the matter here?" Coleman said, "Governor, it is time this shooting on our streets should stop." The Governor replied, "I agree with you perfectly, and have come down, from Sacramento to assist." Coleman rejoined that "the people were tired of it, and had no faith in the officers of the law." A general conversation then followed, in which it was admitted that King would die, and that Casey must be executed; but the manner of execution was the thing to be settled, Coleman contending that the people would do it without trusting the courts or the sheriff

Thomas Smiley the auctioneer, Seymour, Truett, and others, were members. The whole conversation was gone over again, and the Governor's proposition was positively agreed to, with th

nd some of them took offense that the Governor should have held communication with the "damned rebels," and several of them left the jail; but the sheriff seemed to agree with the Governor that what

he effect that they were not bound by Coleman's promise not to do any thing till the regular trial by jury should be had, etc. He was with reason furious, and asked me to go with him to Truett's store, over which the Executive Committee was said to be in session. We were admitted

he promise made by Coleman, their president; and the other, the "Law-and-Order party," refusing any farther assistance, becaus

formed in line along Broadway, facing the jail-door. Soon a small party was seen to advance to this door, and knock; a parley ensued, the doors were opened, and Casey was led out. In a few minutes another prisoner was brought out, who, proved to be Cora, a man who had once been tried for killing Richardson, the United States Marshal, when the jury disagreed, and he was awaiting a new trial. These prisoners were placed in carriages, and escorted by the armed force down

, a prisoner in their custody, committed suicide, and a feeling of general insecurity pervaded the city. Business was deranged; and the Bulletin, then under control of Tom King, a brother of James, poured out its abuse on some of our best men, as well as the worst. Governor Johnson, being again appealed to, concluded to go to work regularly, and telegraphed me about the 1st of June to meet him at General Wool's headquarters at Benicia that night. I went up, and we met at the hotel where General Wool was boarding. Johnson had with him his Secretary of State. We discussed the state o

ges carried in the breeches-pockets, and the caps in the vestpockets. I knew that there were stored in that arsenal four thousand muskets, for I recognized the boxes which we had carried out in the Lexington around Cape Horn in 1846. Afterward we all met at the quarters of Captain D. R. Jones of the army, and I saw the Secretary of State, D. F. Douglass, Esq., walk out with General Wool in earnest conversation, and this Secretary of State afterward asserted that Wool there and then promised us the arms and ammunition, provided the Governor would make his proclamation for the committee to disperse, and that I should afterward call out the militia, etc.

ur business fairly, but the commodore answered very frankly that he had no authority, without orders from his department, to take any part in civil broils; he doubted the wisdom of the attempt; said he had no ship available except the John Adam

re Farragut could and would do, and that, instead of having a naval vessel, we would seize and use one of the Pacific Mail C

near at hand for the

down to the wharf t

d not be too careful

a positive promi

ttee to produce the body of some one of the prisoners held by them (which, of course, will be refused); that you then issue your proclamation commanding them to disperse, and, failing this, you will call out the militia, and command General Sherman with it to suppress the Vigilance Committee as an unlawful body;" to which the Governor respond

oment we might have trouble. Another committee of citizens, a conciliatory body, was formed to prevent collision if possible, and the newspapers boiled over with vehement vituperation. This second committee was composed of such men as Crockett, Ritchie, Thornton, Bailey Peyton, Foote, Donohue, Kelly, and others, a class of the most intelligent and wealthy men of the city, who earnestly and honestly desired to prevent bloodshed. They also came to me, and I told them that our men were enrolling very fast, and that, when I deemed the right moment had come, the Vigilance Committee must disperse, else bloodshed and destruction of property would inevitably follow. They also had discovered that the better men of the Vigilance Committee itself were getting tired of the business, and thought that in the execution of Casey and Cora, and the banishment of a dozen or more rowdies, they had done enough, and were then willing to stop. It was suggested that, if our Law-and-Order party would not arm, by a certain day near at hand the committee would disperse, and some of their leaders would submit to a

s importance, and preferred we should go to General Wool's room together, and the general could hand it to me in person. We did go right up to General Wool's, who took the sealed parcel and laid it aside,

followers denounced them as no better than "Vigilantes," and wanted the Governor to refuse even to receive them. I explained that they were not "Vigilantes," that Judge Thornton was a "Law-and-Order" man, was one of the first to respond to the call of the sheriff, and that he went actually to the jail with his one arm the night we expected the first attempt at rescue, etc. Johnson then sent word for them to reduce their business to writing. They simply sent in a written request for an audience, and they were then promptly admitted. After some general conversation, the Governor said he was prepared to hear them, when Mr. Crockett rose and made a prepared speech embracing a clear and fair statement of the condition of things in San Francisco, concluding with the assertion of the willingness of the committee to disband and submit to trial after a certain date not very remote. All the time Crockett was speaking, Terry sat with his hat on, drawn over his eyes, and with his feet on a table. As soon as Crockett was through, they were dismissed, and Johnson began to prepare a written answer. This was scratched, altered, and amended, to suit the notions of his counselors, and at last was copied and sent. This answer amounted to little or nothing. Seeing that we were powerless for good, and that violent counsels would prevail under the influence of Terry and others, I sat down at the table, and wrote my resignation, which Johnson accepted in a complimentary note on the spot, and at the same time he appointed to my place General Volney E. Howard, then present, a lawyer who had once been a member of Congress from Texas, and who was expected to drive the d--d pork-merchants into the bay at short notice. I went soon after to General Wool's room, where I found Crockett and the rest of his party; told them that I was out of the fight, having resigned my commission; that I had neglected business that had been intrusted to me by my St. Louis partners; and that I would thenceforward mind my own business, and leave public affairs severely alone. We all returned to San Francisco that night by the Stockton boat, and I never after-ward had any thi

ams down to the richer alluvial deposits, and nearly all of these companies became embarrassed or bankrupt. Foreign capital, also, which had been attracted to California by reason of the high rates of interest, was being withdrawn, or was tied up in property which could not be sold; and, although our bank's having withstood the panic gave us great credit, still the community itself was shaken, and loans of money were risky in the extreme. A great many merchants, of the highest name, availed themselves of the extremely liberal bankrupt law to get discharged of their old debts, without sacrificing much, if any, of th

Louis. This met his prompt approval, and he instructed me gradually to draw out, preparatory to a removal to New York City. Accordingly, early in April, 1857, I published an advertisement in the San Francisco papers, notifying our customers that, on the 1st day of May, we would discontinue business and remove East, requiring all to withdraw their accounts, and declaring that, if any remained on that day of May, their balances would be transferred to