The Placer herald., 1856-08-16
Fremont and his Friends.

Fremont and his Friends.
"Ihe name of COL Fremont has been CON
nected with the house of Palmer, Cook & Co.
in the financial operations of that concern
The only connection of this banking house
and Col Fremont is in the Maliposa estate
They are interested in that property. Messrs
Palmer, Cook & Co., advanced funds to carry
on the suit for the recovery Of the Mariposs
estate, for certain portion oft, if successful
Palmer, Cook & Co.'S portion was cut up into
several shares and sold to different capitalist,
for certain sums advanced to meet law eX
penses, &c. Palmer Cook e Co. became in
this way Col. Fremont's bankers, and that is
the only interest he has in that house"
The above extract from the money market
article of the New York H0u1d of July 5th,
deserves more than a passing notice. It's evi
dent intentionis to shield Col. Fremont from
the odium of his connection with Palmer g.
Co. But truth is mighty and public justice
certain" and Col. Fremont is about TO reap
that retribution, that a dscredtable and
dishonorable association sooner or later
brings. He has been the creature and
subseryient tool of Palmer, Cook & Co. for
five years. After his signal and gnohle de
tea in his effort at reelection to the L S.
Senate, in the spring Of 1851, Gin which body
he served less than three weeks abandoning
his post Of duty for whole session to cleo
tioneer for a re eccton,) he has became the
plant instrument Of Palmer Cook d Co..
To enable them, through the influence Of
/. Butler King to get a beef contract, from
the Indian Commissioners, he agreed to sell
out his capital in the Senatorial contest, to
that gentleman, who thereupon obtained the
contract Goa h;,->. loo Dol.,,o. -r1,~:..4
ed 10y King and Fremont to carry out the
political trade, and was accordingly dispatch
ed to Southern California with letters from
Fremont to his intimate friends, urging them
agree to be sold thus, and King was Defeated
In the meantime Fremonts beef contract
was being executed Made without the least
authority Of law, subject to the ratification of
Congress- no money could he received upon
it until that body made the appropriation.
This did not suit the necessities of Fremont or
Palmer, Cook q Co., then, as now, and as
they always have been, hard up for money.
1t was necessary to make financial opera
ton as Fremont had bought the cattle on a
credit, and some portion of the purchase
money must be paid
To accomplish this object, they must GET
drafts upon the Secretary of the INTERIOR tol
the amount of beef contracted for, from one
of these Indian Commissioners. To do this
one of these Commissioners had to be corrup
ted; for having no authority to draw such
drafts it was base fraud to put such drafts
in the market here, by a government officer
! by which the unwary might be imposed up
on and cheated. THE man for the deed was
found in Barbour, one of the Commissioners
who, as it is alleged by the promise of ten
thousand dollars, drew drafts for upwards
of SlSO,O0O upon the Secretary Of the Int
rior. SkiIlful negotiations was next needed
and Wright as the most INSCRIPTIONS Of the
gang was put forward to raise money on the
drafts, endorsed by Fremont-Adams & Co.
deceived by Wrights representations tina
Barbour had authority to draw the drafts
cashed $4,000 Of them. This was grea
success and put the conspirators in funds
Barbour was paid his 10000, (quit the Stat
and has never returned and some part Of th
purchase money for the cattle paid. Blu
more money was required, and negotiation
was entered into with the banking house o
James King Of VIM; that house upon the
residue of the drafts lover $3.50, 0,000,) adyanc
ed S4000O to draw 3 per cent. per montl
interest-About the same time Fremont dis
posed of half Of his interests in the Maripos
grant to Palmer, Cook d Co., put this $40
900 in their hands, became their servie too
and agent, and has been their stipendiary eve
since. Under color Of leases from Fremon
of quartz veins of the Mariposa tract Of LAM
Wright and his associates have raised hun
dreds of thousands of dollars in the Easter
cities, and in Europe by buying fine go
specimens of quartz in the Eastern market
and representing them as coming from tn
veins on the Mariposa leads English capital
lists began to suspect these frauds, and it wa
necessary to have Fremont in England t.
help them out of their difficulties, The mos
unheard Of faIsehoods we're told by Wrigh
Of the richness Of these veins, which for