The weekly Placer herald., 1854-04-22
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Murder will out.

Times of the Goth of last March, explains
;tself and scarcely needs any comment
That Messrs. Palmer, Cook s. Co..
whether they are solvent or insolvent,
honest, or dishonest-acted in bad faith
n this State cannot be doubted by any
nerson whose eyes are not blinded by self
interest. or whose intel ect is not bewiI-
dered by party prejudice. In order to
arrive at this conclusion it is not neces-
sarv to ascertain whether Messrs. Palmer,
Cook & Co j., had or had not any funds in
New York or any where else.
It is enough for us to know that the
honor of the State has been placed under
their charge, or entrusted to their care,
and that it has been violated. We do
not see how they can exonerate them
selves from culpability, by endeavorng
TO shift the responsibility to New York
bankers. A man cannot exculpate him
self from b anne for the ruin of IA person
p,ated under his protection, by making
the plea that he voIuntari y and of his
own accord turned her over to the tender
mercies of some rake in New York or
nnv where else. The State entrusted her
faith and credit in the hands of Messrs.
Palmer. Cook s. Co., and they alone are
responsible for the breach of trust. If
thew could not meet the demands in New
York beyond the possibility of a failure,
they should not have taken the money
here and assumed the responsibility they
have done. But we presume there are
some astonishing Developments to be made
in this case leiore the matter ends, and
perhaps after a |, the Governor, notwlth-
standing his great sagaCity was too hasty
or contiding in asserting that the failure
in paying the coupons "was from no
fault or negligence of the agents of the
State here, and certainly not for want of
means, as erery one must kno,c"
Sacramento Democrat.
From the New York Times.
California Credit.
The last mail steamer from California
brought no acknow wledgments from the
Governor or State Treasurer to the bank
ing firm in this city, who advanced the
January interest on their public debt,
after the defeat OF their own agents.
The question OF courtesy involved in this
double negligence is a minor affair. The
outlay Of S6O,O00, or even its u innate
loss, may be regarded in the light of
private risk, which the house here as>un-
ed on their voluntary faith of California
honor. The lesson will not be thrown
away in any event. The house can afford
TO bear it now, while the debt of the
State holds so nconsiderable relation to
the general magnitude of public securities,
in which they, and all other bankers OF
Responsibility in the country. feel Just
pride of credit, The experience might
have been bought at a much dearer cost
hereafter, when California plunges Into
the railroad system, and undertakes to
build her section of the great Pacific Road
by the exercise of her credit.
But beyond the silence of the Governor
which may be broken to the New York
bankers by subsequent mail-and the
inconvenences and possible loss to Dun
can, Sherman s. Co., there is an issue of
fact and financia management as well as
public fati, which has been made up at
San Francisco and Benicia, the seat of
State Government. to which we desire
that plain, undoubted and conclusive
response shall 90 to the good people of
California by the mail steamer that sails
to day. There is but one opinion here
on the subject. The blame is fixed where
it of right belongs, and we have comb
dence that in the sequel the parties to 1t
will he held to IA ust and fearful re>pon-
sibility at home. The dust with which
they attempted to blind their neighbors
for Il season by means of er parte state
ments, may serve to cover their financial
bad faith and schemes Of party lnlquIty,
until one of the latter is cOnsuInn'ated by
the election of favorite surety to the
United States Senate, but we have much
mistaken the good sense of the people OF
California, if for all this they are not
brought into judgment.
The tate Treasurer, as we have re-
marked, made no acknowledging to the
banking firm here, but our Washington
correspondent writes that he addressed
the following note and accompanying atfl-
davitS to Senator GWin:
MR.. M'MEANS TO SENATOR GWIN.
OFFICE OF STATE TREAsURER,}
BENIcIA, Cal, Feb. 7, 1884.
Hon. VIM. M. GwIN-Dear Sir: doubt
ing your knowledge of the recent failure
of the American Exchange Bank, in the
City of New York, to promptly pay the
holders of the seven per cent. Civic Bonds
of this State, the interest of which fell
due on the same on the first day of Jan
uary last anG that you must necessarily
feel anxious to know the reason of such
failure, | have thought proper to place
you in possession of the best Information
l can obtain on the subject, and request
IL t,lt tu