New-York tribune., 1875-09-01
THE CAREER OF RALSTON.
A REVIEW BY JOHN PAUL.

FORNIA NOTHING But WILLIAM " hhi0'""
THE ENORMOUS ASPIRATIONS AND DEALINGS on
BOTH.
IrRox AN OCCASIONAL CORRESPONDENT or THE TRIDUsE
COOKS POINT, Aug. 29.-From mate OF
Mississippi steamboat to head Of of the largest
banking institutions in the world-undoubtedly the
largest in this Western half Of the wOrd-seems
transformation dazzling and dramatic But 1t was
gradual one. In this instance, as i'll all others, IL
was no royal road that led to position and power.
The climb was q hard one and had its different
stages and hating places; by no single bound
was the hight reached. Different indeed
the fall Yesterday, looking up, men won
dered today looking down, they stand aghast.
For one of the adventurous who then STOOD
with feet seemingly firm planted high up the hlli'
which so many aspire to climb, now. lies
q crushed and shapeless mass at our feet Less lar
indeed from top to bottom than from bottom to top;
for the journey years are necessary Tor the o1r
d single minute suices. 1t is very hard at just TINS
point to refrain from preaching BUT VIII. Inc
corpse found floating and drifting about the bay OIL
San Francisco has been dragged ashore, and IL you
can look upon it without learning something, all
that the CHASTITY lesson conveys. indeed, u SERMON
would but be thrown away.
William c. Raston was the most restless and am
bilious man ever knew, and among restless and
ambitious men my lot has principally fallen. AS
already limited, his beginning was an obscure one.
The precise details of his early life do not reinem-
ber and ill not endeavOr TO repeat, th0ugI nave
had them from his own lips. But unless mucn
mistake, the banks of the Mississippi River were the
only banks with which he had to do prior To emil
grating to California in the early gold days. ana
with these he had to do in the capacity OF mate
some say deck-hand Only-Of sterIi-wheel steam
boat. To the comparative lowness OF tins START
ing point, may we not attribute that aspiring ambl-
ton which led to falf For you may have noticed
that men born to middle station in life pod always
in it cOntentcdly, while those born In the lower
levels are scarce ever satisfied till they have climbed
to tho top of the social shaft. 1t does not exactly
follow that those who start on tie top round
of the ladder are uneasy TIL they nave
climbed to the bottom. but t Is very Ire
ouently the case In this matter society is like
the ocean, thai which breaks Loose from the
bottom struggles up, and good ships which are
launched and expected to swim on the surface go
down if accident knocks u lole in them. Little by
little, Mr. Raston got on. But the more he got on
the longer were his strides Most men set for them
selves "A point ia life at when to rest when reached
at least they say they will rest ut it; ho never
did. The only point where he proposed to stop
was when he had gotten as Far as he cOulu
go, and this programme carried with 1t very
few limitations as you can well imagine
Nothing short OF all could satisfy the man. As III
business, 80 with pleasure. For pleasure IN l5sct ne
did not really care-ndeed, much doubt II he knew
what it was. Lavish surroundings contributed little
to his happiness, but lie maintained the establish
lishment of prince. How it was aftcrward, when
railroads came to be built, do not know,
but in tho day of my knowledge ne
was whired to his country seat by
relays of horses at the close OF each
days business, with all the speed and more OF style
lhan any Two railroads could furnish. For horses,
as horses, lie cared very little and about horses, as
horses he knew less but his stables were full of the
most famous of goers. For wine, he had no inordi-
nate fondness, think but down i'll bis cellars you
found brands which are commonly supposed to be
reserved for the tables Of royalty alone
His hospitality was marvellous; but do not know
that any ono can say he hospitablc. Go to him
with letter of introduciOL-Or without one, If you
happened to be an eminent editor, prizeghtcr, law
YER theOlOgian, hOrse-tlef, or a member OF any
one of the learned he insisted upon
you making his house your home while you stayed,
furnishing you with horses, steamboats, palace cars,
or anything else you wanted to go with when you
went. Invited dcwn to his cOuntry-seat. you were
ut liberty remain as long "A you pleased, and per-
haps You would hot sec your host more than
once during your visit The whole rancho and
all it contained were at your disposal, however,
and if man could not enjoy himself with
such freedom of range as this the fault surely,
could be but his own. / have heard it said that the
Bank of California allowed him V25,OOO year
wherewith to entertain Eastern visitors. Again,
have heard it stated that no limit was fixed. but
that carte blanche was given him to entertain
valuable visitors as he pleased and that at the end
ln for fnfn
If You ask me which of these stories believe, re-
ply, without the least hesitation, Neither!
You have heard of the Bank of California, OF
which William &. RGlston resident at the time
of his death, perhaps. Do you know what it wasf
MOI Well, the Bank of California was William Z.
Ralston. AT tho time of its organization he was
cashier only it is true, but if you suppose that the
President Of bank is anything less or is meant to
be anything moro than respectable hgure-head,
you know less about banks in general, and New
York banks in particular, than one would suppose
possible in this age OF general enlightenment.
AS ca. hier, William C. Ralston ran tho bank.
AS President he ran the bank. The
bank he always was, and when the
bank no longer was, he died-by suicide, some say
naturally enough, say /. Here you have the whole
history OF the bank in nutshell AS for the directors
or trustees, all, they We're good mcn and rich men,
undoubtedly and as such they, in common with
other stockholders, will have an opportunity
of performing the first real duties which the honor
able situation of stakeholder director makes i'm
perative, viz, paying ia a handsome assessment to
make their stock good. Thus the end crowns the
work, and perhaps some day the day Of dummies
will be done.
Ii may be complained that 1 have written too
much about an individual and too little about an
institution. Bat it was necessary to tell what the
one was in order to explain the workings of tho
other The Bank of California was restless and am
btious IN direct response To The charao terlscs Of