M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1856-09-25
From the San Francisco Globe.
Fremont and his Friends.


Fremont and his Friends.
n "The name of Col. Fremont has been con
!. nected with the house of Palmer Cook & Co
in the financial operations Of that concern
: The only connect tion between this bankin
: house and CAl- Fremont is in the Maripos
e estate. They are interested in that proper
ty. Messrs. Palmer Cook & Co., advances
funds to carry on the suit for recovery of tn
Mariposa estate, for certain portion Of il
D il successful. Palmer Cook & Co.'S portion
> was cut up into several shares and sold Il
different capitalists for certain sums advan
ced to meet law expenses &c. Palmer, Cool
& Cos becam in this way Col. Fremont
bankers, and this is the only interest he ha
in that house."
The above extract from the money marke
article of the New York Herald of July 9th
deserves more than passing notice. Its evi
dent intention is TO shield COL Fremont
from the odium Of his connection with Pal
mer Cook & Co. But "truth is mighty and
public justice certain" and Col. Fremont il
about to reap that retribution that discredil.
able and dshonorable association sooner OF
later brings. He has been the creature and sub.
servient tool for Palmer Cook & Co., for Ave
yeSrs. After his signal and ignoble defeat
in his effort at reelection to the United S.
Senate, in the spring Of 1851, lin which
body he served less than three weeks, aban-
dOning his post Of duty for whole session
to eleclioneer for re-election,) he became
the plain instrument of Palmer. Cook & Co.
To enable them, through the influence of L.
Butler King TO get beef contract from the
Indian Commissioners he agreed to sell out
his capital in the Senatorial contest, 10 that
gen tleman who thereupon obtained the con.
tract for him. Joe Palmer was appointed
by King and Fremont to carry out the poll
tical trade, and was accordingly dispatched
to Southern California with letters from Fre-
mont to his intimate friends, urging them
TO vote for King, but his friends would not
agree to be sold thus, and King, was de-
feated. In the meantime Fnmont's beef
contract was being executed. Made without
the least authority of law, subject to The
ratification OF Congress, no money could be
received upon it until that body made the
proper appropriation. This did not suit the
necessities Of fremont or Palmer, Cook &
Co., then as now, and os they always have
been, hard up for money. 1t was necessary
to make financial operation, las Fremont had
bought the cattle on credit, and some pOr-
ton Of the purchase money must be paid.
To accomplish this object, they must get
drafts upon the Secretary of the Interior, for
the amount Of beef contracted for, from one
Of the Indian Commissioners. Todo this,
one Of these Commissioners had to be cor
rupted; for having no authority TO draw
such drafts, il was base fgaud TO put such
drafts in the market here, bya government
officer, by which the unwarY might be i'm .
posed upon and cheated. The man for the
deed was found in Barbour, one of the com.
missioners, who, ,as it is alleged, BY the prom
ise Of ten thousand dollars. drew drafts for
upwards Of Sl80,000 upon the Secretary Of the
Interior. Skillful negotiation was next need.
ed, and Wright--as the most unscrupulous
Of the gang-was put forward 10 raise money
on the drafts endorsed by Fremont. Adams
& Co.. deceived by Wrights representation
that Barbour had authority 10 draw the
drafts, cashed $4,000 Of them. This was
great success, and put the conspintors in
funds. Barbour was paid his $40, ,000(quiI the
State and has never returned, and some part
of the purchase money for the cattle paid
But more money was required, and nego.ia-
ton was entered into with the banking house
of James King of VIM; that house upon
the residue Of the drafts, lover $3.50 ,000,)
advanced forty thousand dollars to draw three
per cent, per month interest. About the
same time Fremont disposed of half of his
interest in the Mariposa grant to Palmer,
Cook & Co., put this 40 900 in their hands
become their servile tool and agent, and has
been their stipendarY ever since, Under col
or of leases from Fremont Of quartz veins
Of the Mariposa tract of land, Wright and
his associates have raised hundreds of thou
sand of dollars in the Eastern cities. and in
Europe, by buving fine gold specimens OF
quartz in the Eastern markets, aud represen-
ting them as coming from the veins on the
Mariposa leads. English capitalists began to
suspect these frauds, and it was necessary to
have Fremont in England to help them out
Of their difficulties. The most unheard of
lalsehoods were told by Wright OF the rich
ness Of these veins, which for time, salts.
fed those who had invested their money in
them; but at length suspicion of fraud be-
came SO strong, that Fremont, Wright aud
their confederates had to escare secretly
from England, Fremont leaving his wife
and children behind him, to follow on the
next steamer as blind to present pursuit
and arrest. before sailing,) to avoid prose-
custom for swindlmg, for which, if they had
been caught, they would have been convic-
ted, and cent to Botany Bay. In Europe,
before their escape, and afterwards in the u.
States, those adrot financiers rioted on their
ill.gotten gains. Fremont is said to have
expended twenty-five or thirty thousand in
Europe, in few months.
The pickings of these operations were
soon exhausted in the fraudulent and unsuc.
cessful speculations Of Palmer, Cook & Co.,
and by Fremont's extrdvagances and in
a state Of utter destitution, Fremont presen.
ted himself before Congress i'll 1854, begging
for an appropriation to pay for his beef con.
tracts. He represented that James King of
William had sued him on the $4,000 adYan-
ced on these drafts, obtained Judgment, and
bought his Mariposa claim for less than
thousand dollars. and unless Congress gave
him relief the time Of redemption would ex-
pire, and it would be entirely lost to him.
BY the most dexterous and unwearying
lobbying, the bill passed Congress, and Ere.
mont "turned up" again, a millionaire. He
redeemed the Manposa claim; bulled Cor.
coran and Riggs, OF Washington City, who
held the claims Of James King OF William,
into reduction of from twenty to thirty