memoirs of general william t. sherman-1-第34章
按键盘上方向键 ← 或 → 可快速上下翻页，按键盘上的 Enter 键可回到本书目录页，按键盘上方向键 ↑ 可回到本页顶部！
————未阅读完？加入书签已便下次继续阅读！
nd one of the natives rushed to her； caught her out of Mary's arms； and carried her swiftly to Mrs。 Sherman； who； by that time； was in the boat； but Lizzie had fainted with fear； and for a long time sobbed as though permanently injured。 For years she showed symptoms that made us believe she had never entirely recovered from the effects of the scare。 In due time we reached the steamer Sierra Nevada； and got a good state…room。 Our passage up the coast was pleasant enough； we reached San Francisco； on the 15th of October； and took quarters at an hotel on Stockton Street； near Broadway。
Major Turner remained till some time in November； when he also departed for the East； leaving me and Nisbet to manage the bank。 I endeavored to make myself familiar with the business； but of course Nisbet kept the books； and gave his personal attention to the loans； discounts； and drafts； which yielded the profits。 I soon saw； however； that the three per cent。 charged as premium on bills of exchange was not all profit； but out of this had to come one and a fourth to one and a half for freight； one and a third for insurance； with some indefinite promise of a return premium； then； the； cost of blanks； boxing of the bullion； etc。； etc。 Indeed； I saw no margin for profit at all。 Nisbet； however； who had long been familiar with the business； insisted there was a profit； in the fact that the gold…dust or bullion shipped was more valuable than its cost to us。 We； of course； had to remit bullion to meet our bills on New York； and bought crude gold…dust； or bars refined by Kellogg & Humbert or E。 Justh & Co。； for at that time the United States Mint was not in operation。 But； as the reports of our shipments came back from New York； I discovered that I was right； and Nisbet was wrong； and； although we could not help selling our checks on New York and St。 Louis at the same price as other bankers； I discovered that； at all events； the exchange business in San Francisco was rather a losing business than profitable。 The same as to loans。 We could loan； at three per cent。 a month； all our own money； say two hundred and fifty thousand dollars； and a part of our deposit account。 This latter account in California was decidedly uncertain。 The balance due depositors would run down to a mere nominal sum on steamer…days； which were the 1st and 15th of each month； and then would increase till the next steamer…day； so that we could not make use of any reasonable part of this balance for loans beyond the next steamer…day； or； in other words； we had an expensive bank； with expensive clerks； and all the machinery for taking care of other people's money for their benefit； without corresponding profit。 I also saw that loans were attended with risk commensurate with the rate； nevertheless； I could not attempt to reform the rules and customs established by others before me； and had to drift along with the rest toward that Niagara that none foresaw at the time。
Shortly after arriving out in 1853； we looked around for a site for the new bank； and the only place then available on Montgomery Street； the Wall Street of San Francisco； was a lot at the corner of Jackson Street； facing Montgomery； with an alley on the north； belonging to James Lick。 The ground was sixty by sixty…two feet； and I had to pay for it thirty…two thousand dollars。 I then made a contract with the builders； Keyser； & Brown； to erect a three…story brick building； with finished basement； for about fifty thousand dollars。 This made eighty…two thousand instead of fifty thousand dollars； but I thought Mr。 Lucas could stand it and would approve； which he did； though it resulted in loss to him。 After the civil war； he told me he had sold the building for forty thousand dollars； about half its cost； but luckily gold was then at 250； so that he could use the forty thousand dollars gold as the equivalent of one hundred thousand dollars currency。 The building was erected； I gave it my personal supervision； and it was strongly and thoroughly built； for I saw it two years ago； when several earthquakes had made no impression on it； still； the choice of site was unfortunate； for the city drifted in the opposite direction； viz。； toward Market Street。 I then thought that all the heavy business would remain toward the foot of Broadway and Jackson Street； because there were the deepest water and best wharves； but in this I made a mistake。 Nevertheless； in the spring of 1854； the new bank was finished； and we removed to it； paying rents thereafter to our Mr。 Lucas instead of to Adams & Co。 A man named Wright； during the same season； built a still finer building just across the street from us； Pioche； Bayerque & Co。 were already established on another corner of Jackson Street； and the new Metropolitan Theatre was in progress diagonally opposite us。 During the whole of 1854 our business steadily grew； our average deposits going up to half a million； and our sales of exchange and consequent shipment of bullion averaging two hundred thousand dollars per steamer。 I signed all bills of exchange； and insisted on Nisbet consulting me on loans and discounts。 Spite of every caution； however； we lost occasionally by bad loans； and worse by the steady depreciation of real estate。 The city of San Fran cisco was then extending her streets； sewering them； and planking them； with three…inch lumber。 In payment for the lumber and the work of contractors； the city authorities paid scrip in even sums of one hundred； five hundred； one thousand； and five thousand dollars。 These formed a favorite collateral for loans at from fifty to sixty cents on the dollar； and no one doubted their ultimate value； either by redemption or by being converted into city bonds。 The notes also of H。 Meiggs； Neeley Thompson & Co。； etc。； lumber… dealers； were favorite notes； for they paid their interest promptly； and lodged large margins of these street…improvement warrants as collateral。 At that time； Meiggs was a prominent man； lived in style in a large house on Broadway； was a member of the City Council； and owned large saw…mills up the coast about Mendocino。 In him Nisbet had unbounded faith； but； for some reason； I feared or mistrusted him； and remember that I cautioned Nisbet not to extend his credit； but to gradually contract his loans。 On looking over our bills receivable； then about six hundred thousand dollars； I found Meiggs； as principal or indorser； owed us about eighty thousand dollarsall； however； secured by city warrants； still； he kept bank accounts elsewhere； and was generally a borrower。 I instructed Nisbet to insist on his reducing his line as the notes matured； and； as he found it indelicate to speak to Meiggs； I instructed him to refer him to me； accordingly； when； on the next steamer…day； Meiggs appealed at the counter for a draft on Philadelphia； of about twenty thousand dollars； for which he offered his note and collateral； he was referred to me； and I explained to him that our draft was the same as money； that he could have it for cash； but that we were already in advance to him some seventy…five or eighty thousand dollars； and that instead of increasing the amount I must insist on its reduction。 He inquired if I mistrusted his ability； etc。 I explained； certainly not； but that our duty was to assist those who did all their business with us； and； as our means were necessarily limited； I must restrict him to some reasonable sum； say； twenty… five thousand dollars。 Meiggs invited me to go with him to a rich mercantile house on Clay Street； whose partners belonged in Hamburg； and there； in the presence of the principals of the house； he demonstrated； as clearly as a proposition in mathematics； that his business at Mendocino was based on calculations that could not fail。 The bill of exchange which he wanted； he said would make the last payment on a propeller already built in Philadelphia； which would be sent to San Francisco； to tow into and out of port the schooners and brigs that were bringing his lumber down the coast。 I admitted all he said； but renewed my determination to limit his credit to twenty…five thousand dollars。 The Hamburg firm then agreed to accept for him the payment of all his debt to us； except the twen
