New-York tribune., 1875-05-11

insisted there was q profit, In the fact
that tLe gold dust bullion shipped was
more valuable tlan it's cost to us. We of course,
had TO remit bullion 10 meet our bills on New
York and bought crude gold dust, or bars refined
by Kellogg & Humbert or +. Justh & Co., for at
that time tho United states Mint was not IN opera
ton. But he reports OF our shipments came BACK
from New York, discovered that was night, ami
Ni,bet was wrong; and, although WI could not help
selling our checks Ncw-lork and st. Louis at the
same price as other bankers, discovered that, al all
events the exchange business ia san fancihc0 VAS
rather a losing business than profitable The same
os TO loans We could loan, at three per cent
month, all our own money, say two hundred and
fay thousand dollars, and part OF our deposit ac-
couut This latter account in California was de-
,idedlv uncertpin The balance duo dcposit0Is
,Smid run down TO n mere nominal snm on steamer
,lays, which were the 1st and 18th of each
month, and then would increase till tho next
steamer-day, 80 that wo could not make 'se oil any
reasonable part Of this balance Tor ohis beyond inc
next steameray; or, in other words, we had an On
pepsiye bark, with expensive clerks, and all the
machinery for taking care OF other peoples money
for their benefit, without corresponding proht
also SAW that loans wcrc attended with risk cOuInc
surdtc with tho rate; nevertheless l could mol
attempt to reform the rules and customs established
10y others before me- and had 10 drift along with the
rest toward that Niagara that none oresaw at the
time" In connection with his transactions W u
banker. General Sherman gives a curious bit of per-
sonal history relative 10 the famous California ana
South American spcculator Henry Meiggs. whosevir
tues for long time remained under cio"d, but nave
since We believe, emerged into something like sun
shne
The CITY Of san FranGsco was thOn extending hcr
streets sewerine them and planking them with hf-
OF cnntTa1ors The city authori,s paid Scrip ia even
sums E"' Of iGo 500 81 hoo aud s5OoO Te formed
,y collateral for loans from 30 70 90 cents on the
dollar and no one doubted their ultimate vaIle, either ~
redemption by hns nTecd " cy 'S" CS ctc
nber-eaers iayOri,c notes, FOR they pad tleir
Interest promptly ana ,dgd inraf Y,' AZ tat ~, ,e
Meig prominent man, Lived IN style III ialGc
syS s"g c,ed u rge min. up the const about Mendocino
n him Nsbet had nbounded faith but ior snnc reaso
toned Nsbct not 70 extent his credit hut Ia gradually
Contrast Lie loans. On looking over our ollls h" FaDe
tHc abouI SdOoo0o. found Meiggs principal or in.
drrser owed Us about Ss00Ootll, however, secured iy
city warrants; stil lie kept bank accounts elsewhere,
ami was generally h1rrowcr. Instructed Nsbct
l0 insist on his reducing his line IA the notes
matufed and as he found IL indecatc - speak to
~ ,. m ' ,rAt .i tcmclav Mris arr, areI
at tie counter for draft on pnadcpni., oi about
$4,000 for which he offered hts note and eOatsri ho
w. re- erred t. uir anI explained 10 MIN hat our Grlit
WA the mDncy; that he cond have for ci-I,
b, tnat We were ain..dy in advance t. Lin some sv-
cnty ave or eighty Thousand duIla., ~ that nstoal Of
inorrsiu The amount must insis On s reduction He
injured II ui.tstcd hs ability etc. explained. c..r.
taluv not but that oar duty assist those wo did
al Al. If business with and or means were i'ccS-
tiv limited mus. ,tstIrt him tO reasonable sum.
e.y 4 OJD Mcl;s Invited 10 soWi.h him toa riri
infr. niilc house Cyst. whose partners belonged
IN n tunurg AMI tore Ia the presence al the principals
of tnr hune Lc demon -tI9t,l e. rly ~ prIio
I'm Bithcm !cs, THAT ms huHicss IN Me"doc no "is based
t, ga cuaiinn. it cond not fail. The on of exchange
when hs wanted, lac s.I would maze the last pa nt
on propC,T arcddy blilt IN PLtd lphd, Wa.ch would
sent Francesca, /" tow into aai out oi port tne
sch0Oucrs bTigs tldI were hihnS bis iuib:f d""u
thc c,>i tdnurd al he sd'i, bat renewed ~ dete4-
nnuadou Ia Limit his credit IA S21.GOp Thc unuhrg
.In shcu agreed to aoCit l"f MN tc payment o al iis
debt 10 rs 'Ac'p' thr Soo iay"b. II, clVu PARIS int
the three stcamcriays Ac'"cjn%ly, Misgs went
back with me to oar hank wrote Ms nose i0r $4,000,
all sccu.,d IL by no. isc on real ei." aid oi;5 wiI-
lanis, aui su.'.tltnird Inc tl" ac"ritorcs' Tie IAN
burg irn for Overl'us surrendered 10 hun oil ais
former notes. except one or " iei he Was ii.iurNr Ic
fhicc JcFt pui'tr dui7 na'hr uhi "'r P'd Que MORT
INK MuZgs and family were missing. ndf Waa discovered
t.ry Iad embarked Un SAILING Nc>-tl i Sodir America
Tii wt' me he- lEnhS oI s,S" ali',t ~ 9ai, ram
osoJ at extended through the n'Nt tw" years hss'"n
- II @''o aug" ia, %, - - - i, t,' % T ~, % ~, @ "
hi- ,nuucy. Hia dch:a anuntei IL nearly milton dol
were beiSy o"p- n ialsi tinH tao5 ps -o
OF me!,.ss dwrur,-nouse amt other prup"ry1or
held lis mortgage, and ~ tie city wdrien,s t.0agLt
c i, CIrv Co,'ril b,i .gIrd v,r,s gnants o: rect
scIip. which AUuJgCd forgery though, beyond
n-1n1.n'rv ,..uni o., fl .,r., Our LanEs r,ist have
ont ABOUT $4,000. M"s.R subsequently turned M Iu
CIi again ne rose - wealth, aud i;.- paid mncil
oi hs : II, Francesca deis on rone 10 rs Ne .s now N
pc,1l living Ike prince With Nce,,s irl al the uniucr
dealers, ana many ?eI -ons dealing ~ eJ scrip. Com
pa. .od with othcre our oss rige. Ia ruv.t nmc
tin,gs n Francisco resumed their wOBtesi sc,
aud We seueiiy aueL d at the cscair'lo J MeiS>s and
tbc culsiuS ui hs driud,d creditor.
The election of President Lincoln foiud General
Sherman in Iouisiana where after many ups and
downs h. had taken up hsrcsdence Gs prof,t,oriua
military college In the following March QsGll. he
took icavc of the state and repaired TO Lancaster,
Ohio, where his family had made Temporary sojourn.
lewis oA lieuIey anX o,Is about the fluTc Il seemed
Us il lo BID ccuo ~ the end of hs career l,r he did
rct elpposc Z at the Civil War would .ive him en-
p.uyneut the means Of support. He thought and
probably said th9t the national ciisis had been
bTou ht about by tie politicians, who should be left
~ yht il ont. All along the road he heard warm
discussions abOnt politics. IL wps the prevailing
sentiri mt that ii Mr. Lincoln sould attempt coe,
c0u uf the suclilg States, the border States would
make common cauSc. when il would be madness to
attempt 10 reduce them 10 subicctiOn. IN the South
the pcop, were earnest, angry, AMI fierce, an. ,y,-
dcnty utout on war. In Illinois. Indian G., aud OHIO
there Was not the sighteet uOte of preparation IL
certainly looked 0s though the people Of tho
North wonld ta.nely snbIlit Ia disruption e tie
Union. The orators Of the South insisted that there
would bc no war, and that ady's ihinhle would
hold all the blood to liz she'd. Soon after his arrival
IN Ohio the General went ~ Washington on a VISIT
t, bis brother, MIR. join Sherman. Lincoln had just
bcen Installed and tic air was filed With rumors Of
war. There were few signs OF preparation. although
Southern Senators and Representatives were daily
sounding their threats. and publicly withdrawing 10
JOIN the Confederate Congress at Montgomery. "O.e
day John Sherman tOuk me with him to sec MIR.
Lincoln. He walked into the whero the
secretary To The President now site; VIC found
the full Of people and Mr.. Lincoln ~.
at the end of the table, talking with
three or four gentlemen, who soon left. John
walked up, shook LANDS, and took a
chair hun, holding in his hand some papers re-
ferriug to minor appointments in the StGto of Ohio,