Daily American organ. [volume] (Washington, D.C.) 1854-1856, 1856-09-23
Fremont and his Friends.


"The name of Col. Fremont has been connected
with the house of Palmer, Cook, & Co., in the f.
nancial operations of that concern. The only con-
nexion between this banking house and Col FIRE.
mont is in the Mariposa estate. They are inter.
ested in that property. Messrs. Palmer. Cook, K
Co. advanced funds to carry on the suit for the re-
covery of the Mariposa estate for certain portion
of it. If successful. Palmer, Cook & Co.'s portion
was cut up into several shares and sold to several
capitalists for certain sums advanced to meet law
expenses, &c. Palmer, Cook, & Co. became, in this
way, Col Fremonts bankers, and this is the only
interest he has in that house."
The above extract from the money-market arti-
Gle OF the New York Herald of July 9th, deserves
more than passing notice. Its evident intention is
to shield Col. Fremont from the odium of his con-
1exion with Palmer, Cook, Co. Bat truth is
mighty and public justice certain" and Col. Free
mont is about to reap that retribution that dis
creditable or dishonorable association sooner or
later brings. He has been the creature and sub
servient tool of Palmer, Cook, & Co. for FIVE years
After his signal and ignobe defeat in his effort at
reelection to the United States Senate, in the
spring Of 1851, lin which body he served less than
three weeks, abandoning his post of duty for a
whole session to electoneer for re- election he
became the plant instrument Of Palmer Cook, &
Company. a
To enable them, through the influence of T.
Butler King, to get beef contract from the Indi-
an Commissioners, he agreed to sell out his capi-
tai, in the Senatorial contest, to that gentleman
who thereupon obtained the contract for him.
Joe Palmer was appointed by King and Fremont
to carry out the political trade, and was according
y dispatched to Southern California with letters
from Fremont to his intimate friends, urging them
to vote for King, but his friends would not 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 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, as they always have been, hard up for money
lt was necessary to make financial operation, as
Fremont had bought the cattle on 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 for the amount
of beef contracted for, from one of these Indian
Commissioners. To do this, one of these Com
missioners had to be corrupted; for having no
authority to draw such draft it was base fraud to
put such drafts in the market here, by govern.
ment officer, by which the unwary might be
cheated. The man for the deed was found In Bar
bour, one of the Commissioners, who, it Is al
legged by the promise of ten thousand dollars, drew
diafs for upwards of 3ls0,O0O upon the Secretary
of the Interior. Skfu negotiation was next
needed, and Wright, as the most unscrupulous of
the gang, was put forward to raise money on the
drafts, endorsed by Fremont. Adams & Co, de-
ceived by Wright's representations that Barbour
had authority to draw the drafts, cashed O,OOO
of them.--Tbis was great success, and put the
conspirators in funds. Barbour was paid his
100000 (quit the State and has never returned, J
and some part of the purchase money for the cattle
paid. But more money was required, and negotia-
ton was entered into with the banking house OF
James King Of VIM; that house upon the residue
of the drafts, lover $l50,000) advanced $40, 900,
to draw per cent. per month interest About
the same time Fremont disposed of half of his
Mariposa grant to Palmer, Cook & Co., put this
$40,0 900 in their hands, became their servile
tool and agent and has been their stipendiary
since.
Under color of leases from Fl emont of quartz
veins of the Mariposa tract of land, Wright and
his associates have raised hundreds of thousands
of dollars in the eastern cities, and in Europe by
buying fine gold specimens of quartz in the eastern
markets, and representing them as coming from
the veins on the Mariposa lands English capital.
lists began to suspect these frauds, and it was ne
cessary to have Fremont in England to help them
out of their difficulties The most unheard of false
hoods were told by Wright Of the richness Of these
veins, which, for time, satisfied those who had
invested their money In them but at length sus-
picion of fraud became so strong, that Fremont,
Wright and their confederates had to escape Sc
cretly from England, Fremont leaving his wife
and children behind him to follow on the next
steamer, as a blind to prevent pursuit and arrest
before sailing,) to avoid prosecution for swind-
ling, for which, If they bad been caught they
would have been convicted, and sent to Botany
Bay. In Europe, before their escape, and after
wards In the United States, these adroit fnanciers
rioted on their ill-gotten gains. Fremont is said
to have expended twenty-five or thirty thousand
dollars In Europe in few months
The pickings Of these operations were soon en-
hausted in the fraudulent and successful specula-
tions of Palmer, Cook 4 Co., and by Fremonts
eItravagances, and in state Of utter destitution
Fremont presented himself before Congress in
1854, begging for an appropriation 70 pay for his
beef contracts. He represented that James King
of Wm. bad sued him on the s40,00 advanced
on these drafts, obtained Judgment and bought