Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-09-04

had ruled II since 1854 Ralston refused,
Flood and O'Brien and the rest of Mi
lesis Immediately organized the Bank
OF n svads, with five millions Of paid
no capital in gold, and made Louis
M'L2ne president.
The difference between RalstOn ana
Flood and O'Brien was this: The lat
ter went at mining willing 10 wait for
return, plodding and feeling about in
secrecy, FeniRn style; RalstOn wanted
his gains at once. His theory was "nOw
aud often;" the newcomers worked on
the principle of "quiet and sure" Be-
sides, RalstOn's management OF the
crushing, milling, sssaying and railroad
power had got to be a monopoly; he bad
sustained the Republican ticket, gener-
ally, and the new Irish patty WIS, Of
course, Democratic. He had been friend
ly to the Central Pacific railroad, which
had lust absorbed the Sacramento Union
newspaper. The allies OF this paper in
San Francisco. the Bulletin and the Call,
two strong journals, independent in pol
itics, knew that RslstOn had such q
mortgage on the Alta Californian, their
rival, that he controlled it. So the new
Bank OF Nevada, under Louis M'Lane,
the son OF Andrew JacksOn's secretary,
Of the treasury, the Bulletin and Cal,
and the Democratic and Independent
parties went in together against the
Bank Of Rslston. His credit was i'm
pugned, it's master indicted. His money
and the bank's-for he was the bank
it's whole genius-snd his private ac-
count ran parallel with the banks
were distributed in hundred material
enterprises, mills, wagon works, real es-
tate, woOlen-mills, irrigating dams,
agaeduets-what not. The enemy's
money was in a pile, and being replen-
ished at the rate OF twelve hundred dol
lara month. Meantime gold was high
in New York, and the United States
treasurer buying. The saloOn-keepers
kept their pile at home. When RalstOn
reached out for it they would not loan.
He could not pay drafts and accept
ances. They would not now take his
bank as gift, as the moment
was opportune to totally demolish
Ralston's combinations and take what
was profitable out of the wreck Of
the estate, particularly the "UniOn min
ing and milling company" and railroad
of Nevada. This road had almost lit
orally cost Ralston nothing, being paid
for by the mining companies, and it
had been AlsddiD's path to him. The
strong man had made himself so strong
that there was nobody to save him. And
when he saw d. o. Mills and the soda.
water people take his bank and order
him to leave the room,
"Then, in a mantle muffiing up his face,
Great Caesar fell"
s He went from that bank, where he
had been the pleasant autocrat for eleven
years, and threw himself into the sea;
for there was no religion he had ever
learned except generosity and enter
prise. He died bold man at the end
OF drama where he had been the hero
throughout, and his death had that
heathen quietness and fortitude in it
which his face became. Not perfect,
nor yet an example, he had a mastiff
character. The worst of all is that so
much kindness and chivalry were not
parts of any formula Of living which
the historian can commend. Bred
roughly, inspired by Garrison, he had
nothing for mis- wealth to ornament but
q social spirit and love Of his coast and
her development. The poorest China
man in California was wealthier in pow
erty than this leader of the coast. Louis
NJ Lane, who has been a good while on
the Pacific side, is son Of Doris NJ Lane,
of Delaware, who afterward settled In
Cecil county, Maryland, and finally in
Baltimore. GATH,