The daily Argus. (Rock Island, Ill.) 1873-1877, 1875-08-30

resident OF Carrollton, Green county, IN
nois, and for some years was a steamboat
clerk on the Mississippi and the Illinois
rivers. His wife was from Calhoun coun-
ty, this state.
Ralston was q man who had, in COM
paratively brief period, attained the sum-
NIT Of financial greatness, and was looked
upon as one Of the leading bankers of
America. His success had been won, not
so much by careful calculation as by bril-
liant coups In the world of money,by dash,
by bold and unparalleled strokes. He
was a man who risked all to gam his
point, and who, by native shrewdnesss
which gave him an insight into men and
the stock operations of the day, was ena-
bled to carry his point at all hazards. He
was man Of perhaps so years of age, and
his early life was not characterized by any
remarkable example Of enterprise such as
his later years developed. Coming up as
he did from an humble walk, he pushed
himself along by his inherent genius until
he finally grew to be one Of the acknowl.
edged money-kings Of the world. Through
out his career, which was, at best, pecull-
arly varied in its character, Mr.. Ralston
has occupied q position which has been a
perfect anomaly, and which has defied q
thorough and successful analysis.
AS far back as 1855 and 1856, immediate
ly subsequent to the argonautic days which
filed the Pacific slope with race of adven-
turesome and daring men, he is found inthe
mines of southern California, in the ANA
dor district, eking out an uncertain exis-
tence, either as an employe of one Of the
many mining companies which abounded
there at that period, or soon afterward
living in comparative ease as superinten-
dent. Shortly afterward, and when the for
tunes of the new state had been establish
ed, and he had won for himself degree
of independence, he is to be traced to San
Francisco. where he secured the position
of pursur upon steamer owned by the
Pacific Mail company and plying between
the Golden State and the bay of Panama.
1t was here that he began to place his feet
with firmness upon the rungs of the lad
der which was destined to lift him subse
quently to q summit of financial greatness
His life as purser was one which, while not
altogether congenial tohim, ut least threw
him into contact with the leading business
men of the Pacific coast, and it was not many
years before he found himself called upon
to exchange the rather precarious life of al
ocean purser for the more lucrative posi-
ton of manager of bank away over in thu
Sierra Nevada mountains, in the theI
comparatively new mining camp OF yir
ginia City, New. The discovery of the
Comstock ledge with its score of paying
lodes had sounded the key note for an al
most unparalleled stampede for the new
mining district. Virginia City grew like
mushroom in a night. From sage busl
plains and alkali desert, suddenly sprung
up a mining centre which has held to it
name and its prosperity ever since with al
almost unprecedented tenacity. The baDl
of California was already an institution il
the slope, and under the direction Of care
full managers had achieved at least an envi
able local reputation. 1t was at this juno
ture, in 1859 or 1860, that Ralston wa
invited by the directors of the bank to leav
his ways of water and take to the NOR
arduous and skillful duties of running
bank, in this new mountain town. 1t wa
position which called for the display of
peculiar order of talent. 1t threw him il
to contact with as shrewd class of me
as breathed; it made him. the compeer c
men who lived by their wits; it precipitat
ed him into the vortex of wild life whic
was moved by insane excitement and pei
petually famed into fame by the stronge:
passions. Everything at that place
those days was wild with excitement, Th
discoveries were accounted bonanzas, an
the people who came 10 to carry on II
business which was thus suddenly develol
ed were Of the most exaggerated type.
was here, as manager of the branch of Il
bank of California, that Ralston bega
that acceleration of life which has thu
suddenly pumped him into eternity T
was surrounded by fast men, dealt wit
fast men, lived fast life, aud become in
short time man of fast principles. Tn
is, he acquired those habits which we
peculiar to the people of that latitude
that day. Nothing venture, nothir
gain" Was the motto of the people. Ri
all, win all, was the principle; lose all
busted was the result. Money W
almost as free as air. and its col
mercial value was comparatively u
known. Surrounded such Influences, gro
ing up under such peculiarly fast su
roundings, it was not to be wondered a
perhaps, that WIN. G. Ralston became il
bued with the same fast principles al
found the peculiar gambling, risking ell
ment engrafted upon bis very nature.
bought bullion for his bank, he invest,
money for his bank, he speculated, he gar
bled upon the stock board, until he was fns
ly looked upon as one of the "fnanciers'
the slope, and, fortunately, being SUGGEST
in his ventures, lowing perhaps to the ia
of his being in the ring of operators wi
then began to control the stock market,
be achieved large reputation amor
financial men of the coast
1t was in Virginia City that Ralst,
became acquainted with Sharon and Jone
who were then inexperienced superinte
dents of mines, working upon salary, al
with nothing more than this, except a gre
deal of presumption. They built d
Reno and Virginia City railroad, or rath
the Bank of California did, which was
monopoly; the bank reached out its tie
tacles and grasped everything financial
and commercially. 1t established branch
in nearly every city. 1t put its mon
into corporations. 1t finally got hold
OF the quicksilver mines, in which busine
Ralston had once been engaged, and so
monopolized the trade. In short, the
stltution began to raise its impregnat
head Of monopoly.
Ralston at this time became general
known as q business man, and his soci
life was at the same time matter of col
ment amongst the people of the slor
He was known as the man who set all /
ciai conreutionalities at defiance. ]
cared nothing for public opinion. /
lived only for w. G. Ralston and the Die,
ures which that individual experience
He outraged what little there was of Z