, 1875-08-28

lowed no gtncs. Tho co,huct of tho hank at stss
emergency did more to give II rssroct ami buai-
nasn thRn ali tho ot'in in it, oofFora.
During tha earthquake Tho unflod Htaaas Mini
was .icaal To-! tY is oporattses, hnt the BANK of
California had $10J,1an In bullion tllnrc, for
Which 1t hold mint certificates. To meet tho or
ira otlinarv ncce.R.ios Ut Tho tuo the Hnpn,in.
tondcnt Ut thu Mini iutIaknnd tho bullion fund.
aud caHElod tlie mint certificates nf tho Dans of
California In cotn to nearly their amount. From
this slight circumstance Ar1eo tho notion. at1ll
patent stroAd. that tho bsuk and tho msus woro
IN c0il'lnion.
rslk QUESTION or ooy.p on anEsNnAoKn.
Tho uo,,.oi,culatlon Ut national rnper monoy
on tnH coast wns t.o TO popular and businesb
agreement. in tho boRfnnnE OF the War. GAL
s.,o Ia" W. eoscds S r asnr j "st fssao nder he.sy
pohalty, and, whrn hoAtl1iteH began, tho uD-
monetary l'fo Of tl,o raci}c, was iurolsod in
hs,a money Three weeks from New York
deenehe. and. tho.oforc. llabla to be left
destitute OF currpncy by a tranBhipmont oas.-
wa1d, embarrassed hy tho subject Ut exchange,
wh.ch in The iAonted nttnatio1 Of Cai.fotnIa,
Mas matter Of .ttstant quotation or guoss work,
With gold and alver slln natural product OF tho
coast, aud ! Government mint OH tho Rt,ot, with
imrortatio,ls {! ON tho ubtuao countries Of Aela
demanding gold and silver III payment OF uutlcf.
tho concurrence OF bAtits aud inserosth ciamorod
for tho iotontion nf coin ~ currency, and. With
extraordinary uu4ulmity, AL tho negotating pop.
a.nco, lnnkuc, uermap. jew, anA 1lcxtcal,, met
11ioir Obligations accurtltnG Ia tho Spirit Ut theE
promise. Tho Legislature sanctioned coin pay
men.s. aud tho high authority of Hugh atoJnl-
lool, hncratary OF tic Treasury, approved shin
action by saying that California lad preserved
'alying-point to bcs!n tho resumption Of
specie 1aya.en:s, md had done 1t with sagae'ty
1he 1,ank OF California waa not oronod until
july. 1854, but itB managers, tn comt,on with all
BARRIERS, approved the step. MANY Eaheorn cap.
1tat'sts, amonE them Tut Cooke, Of tho mouse Of
Jay c. oAo Il Co.,, lsvo spco visited Ills coaht 10
aot up National nsnkns but. studying the altu..
alton IN ltB leuloteneAa. tlloy l,nyo abandoned
tho idoa ~ quito IA unproInlsing al II the poonlo
ct No" Iealann were TO- undertake to du tatail
trade with Dank of Englanti scrip. A gold.nato
bnuk haa recently bcou areued bore, atitl nmong
its prominent stoclholdcrB aro eilhroholdera ID
tho Bank Of Californ.a. The eamo Institution
haa encouraged foreign capital to establish
Aousps aud branch lloliBes n 6an FtauciHco,
Many Of tho pooplo Of san Francisco, having
enjoyed gotden opportunities during tho War,
shol tllia sido Of tho world was refuge nsd tho
rhuios Of tho East wcIc hcro bridgod over arc
now c1elaimlnR for paper money. Tie diffusion
Of tho Iaestio population, consequent upon rail-
Way Development. tho auhHtitntinn OF aRtlenlturo
Tor mining mud speculative interests. md tho de-
elmo Of immigration, have produced M hpparcnt
!N,', not to Say stagnattnn In the oIttoa ct GALL
fornin, but We aaap. in tile oltioa OF tho Atlantic
coart, nro laInontjag tho riotouR horna of tutla-
IT, n and tho cargo Of tral'c. According to good
observers, California IL hoaltuios to-day tlau
over.
Tllere Is movement in the East toward spe-
ota-arculRlion corresponding u tue impulse hare
toward currency, ~ is proved BY the establish.
mcnt OF gold-uoto banks in I3astol apd Nov
York, mud tho voluntary translation OF mnnv ot
our National Dauks into private banking.houne
or tl1sir allcnt resumption Of thar old State
charters which tliov hafe noyer abandoned.
In short. tho Bank Of CALIFORNIA Appeara to
ma to exercise no other dosrotsm titan to ba
rich, successful. and saghcluus. II I wero 10
tho habit Of writing In the intorosts Of humblg
and denagogory. Should pick my matoriald
from tho Gsl-rootnH aud Democratic prilnarIea,
mud crcnia{o tho contrary conclusion. It Ia an
American organization, citizen organization. 4
triumph. lii eltof Blookholdora are huspsabe,
COOL suggestive, iudosnitabln. TAetcfort lit us
hate it aud tlcnl, Au1 10 logical. qATu,