Memoirs of General William T. Sherman — Complete
particular reason he ordered the steersman to alter the course one
point to the east.
After this it became quite dark, and he continued to promenade the
deck, and had settled into a drowsy state, when as in a dream he
thought he heard voices all round his ship. Waking up, he ran to
the side of the ship, saw something struggling in the water, and
heard clearly cries for help. Instantly heaving his ship to, and
lowering all his boats, he managed to pick up sixty or more persons
who were floating about on skylights, doors, spare, and whatever
fragments remained of the Central America. Had he not changed the
course of his vessel by reason of the mysterious conduct of that
man-of-war hawk, not a soul would probably have survived the night.
It was stated by the rescued passengers, among whom was Billy
Birch, that the Central America had sailed from Aspinwall with the
passengers and freight which left San Francisco on the 1st of
September, and encountered the gale in the Gulf Stream somewhere
off Savannah, in which she sprung a leak, filled rapidly, and went
down. The passengers who were saved had clung to doors, skylights,
and such floating objects as they could reach, and were thus
rescued; all the rest, some five hundred in number, had gone down
with the ship.
The panic grew worse and worse, and about the end of September
there was a general suspension of the banks of New York, and a
money crisis extended all over the country. In New York, Lucas,
Turner & Co. had nothing at risk. We had large cash balances in
the Metropolitan Bank and in the Bank of America, all safe, and we
held, for the account of the St. Louis house, at least two hundred
thousand dollars, of St. Louis city and county bonds, and of
acceptances falling due right along, none extending beyond ninety
days. I was advised from St. Louis that money matters were
extremely tight; but I did not dream of any danger in that quarter.
I knew well that Mr. Lucas was worth two or three million dollars
in the best real estate, and inferred from the large balances to
their credit with me that no mere panic could shake his credit;
but, early on the morning of October 7th, my cousin, James M. Hoyt,
came to me in bed, and read me a paragraph in the morning paper, to
the effect that James H. Lucas & Co., of St. Louis, had suspended.
I was, of course, surprised, but not sorry; for I had always
contended that a man of so much visible wealth as Mr. Lucas should
not be engaged in a business subject to such vicissitudes. I
hurried down to the office, where I received the same information
officially, by telegraph, with instructions to make proper
disposition of the affairs of the bank, and to come out to St.
Louis, with such assets as would be available there. I transferred
the funds belonging to all our correspondents, with lists of
outstanding checks, to one or other of our bankers, and with the
cash balance of the St. Louis house and their available assets
started for St. Louis. I may say with confidence that no man lost
a cent by either of the banking firms of Lucas, Turner & Co., of
San Francisco or New York; but, as usual, those who owed us were
not always as just. I reached St. Louis October 17th, and found
the partners engaged in liquidating the balances due depositors as
fast as collections could be forced; and, as the panic began to
subside, this process became quite rapid, and Mr. Lucas, by making
a loan in Philadelphia, was enabled to close out all accounts
without having made any serious sacrifices, Of course, no person
ever lost a cent by him: he has recently died, leaving an estate of
eight million dollars. During his lifetime, I had opportunities to
know him well, and take much pleasure in bearing testimony to his
great worth and personal kindness. On the failure of his bank, he
assumed personally all the liabilities, released his partners of
all responsibility, and offered to assist me to engage in business,
which he supposed was due to me because I had resigned my army
commission. I remained in St. Louis till the 17th of December,
1857, assisting in collecting for the bank, and in controlling all
matters which came from the New York and San Francisco branches.
B. R. Nisbet was still in San Francisco, but had married a Miss
Thornton, and was coming home. There still remained in California
a good deal of real estate, and notes, valued at about two hundred
thousand dollars in the aggregate; so that, at Mr. Lucas's request,
I agreed to go out again, to bring matters, if possible, nearer a
final settlement. I accordingly left St. Louis, reached Lancaster,
where my family was, on the 10th, staid there till after Christmas,
and then went to New York, where I remained till January 5th, when
I embarked on the steamer Moles Taylor (Captain McGowan) for
Aspinwall; caught the Golden Gate (Captain Whiting) at Panama,
January 15, 1858; and reached San Francisco on the 28th of January.
I found that Nisbet and wife had gone to St. Louis, and that we had
passed each other at sea. He had carried the ledger and books to
St. Louis, but left a schedule, notes, etc., in the hands of S. M.
Bowman, Esq., who passed them over to me.
On the 30th of January I published a notice of the dissolution of
the partnership, and called on all who were still indebted to the
firm of Lucas, Turner & Co. to pay up, or the notes would be sold
at auction. I also advertised that all the real property, was for
sale.
Business had somewhat changed since 1857. Parrott & Co.; Garrison,
Fritz & Ralston; Wells, Fargo & Co.; Drexel, Sather & Church, and
Tallant & Wilde, were the principal bankers. Property continued
almost unsalable, and prices were less than a half of what they
had been in 1853-'54. William Blending, Esq., had rented my house
on Harrison Street; so I occupied a room in the bank, No. 11, and
boarded at the Meiggs House, corner of Broadway and Montgomery,
which we owned. Having reduced expenses to a minimum, I proceeded,
with all possible dispatch, to collect outstanding debts, in some
instances making sacrifices and compromises. I made some few
sales, and generally aimed to put matters in such a shape that time
would bring the best result. Some of our heaviest creditors were
John M. Rhodes & Co., of Sacramento and Shasta; Langton & Co., of
Downieville; and E. M. Stranger of Murphy's. In trying to put
these debts in course of settlement, I made some arrangement in
Downieville with the law-firm of Spears & Thornton, to collect, by
suit, a certain note of Green & Purdy for twelve thousand dollars.
Early in April, I learned that Spears had collected three thousand
seven hundred dollars in money, had appropriated it to his own use,
and had pledged another good note taken in part payment of three
thousand and fifty-three dollars. He pretended to be insane. I
had to make two visits to Downieville on this business, and there,
made the acquaintance of Mr. Stewart, now a Senator from Nevada.
He was married to a daughter of Governor Foote; was living in a
small frame house on the bar just below the town; and his little
daughter was playing about the door in the sand. Stewart was then
a lawyer in Downieville, in good practice; afterward, by some lucky
stroke, became part owner of a valuable silver-mine in Nevada, and
is now accounted a millionaire. I managed to save something out of
Spears, and more out of his partner Thornton. This affair of
Spears ruined him, because his insanity was manifestly feigned.
I remained in San Francisco till July 3d, when, having collected
and remitted every cent that I could raise, and got all the
property in the best shape possible, hearing from St. Louis
that business had revived, and that there was no need of
further sacrifice; I put all the papers, with a full letter of
instructions, and power of attorney, in the hands of William
Blending, Esq., and took passage on the good steamer Golden Gate,
Captain Whiting, for Panama and home. I reached Lancaster on July
28, 1858, and found all the family well. I was then perfectly
unhampered, but the serious and greater question remained, what was
I to do to support my family, consisting of a wife and four
children, all accustomed to more than the average comforts of life?
I remained at Lancaster all of August, 1858, during which time I
was discussing with Mr. Ewing and others what to do next. Major
Turner and Mr. Lucas, in St. Louis, were willing to do any thing to
aid me, but I thought best to keep independent. Mr. Ewing had
property at Chauncey, consisting of salt-wells and coal-mines, but
for that part of Ohio I had no fancy. Two of his sons, Hugh and T.
E., Jr., had established themselves at Leavenworth, Kansas, where
they and their father had bought a good deal of land, some near the
town, and some back in the country. Mr. Ewing offered to confide
to me the general management of his share of interest, and Hugh and
T. E., Jr., offered me an equal copartnership in their law-firm.
Accordingly, about the 1st of September, I started for Kansas,
stopping a couple of weeks in St. Louis, and reached Leavenworth.
I found about two miles below the fort, on the river-bank, where in
1851 was a tangled thicket, quite a handsome and thriving city,
growing rapidly in rivalry with Kansas City, and St. Joseph,
Missouri. After looking about and consulting with friends, among
them my classmate Major Stewart Van Vliet, quartermaster at the
fort, I concluded to accept the proposition of Mr. Ewing, and
accordingly the firm of Sherman & Ewing was duly announced, and our
services to the public offered as attorneys-at-law. We had an
office on Main Street, between Shawnee and Delaware, on the second
floor, over the office of Hampton Denman, Esq., mayor of the city.
This building was a mere shell, and our office was reached by a
stairway on the outside. Although in the course of my military
reading I had studied a few of the ordinary law-books, such as
Blackstone, Kent, Starkie, etc., I did not presume to be a lawyer;
but our agreement was that Thomas Ewing, Jr., a good and thorough
lawyer, should manage all business in the courts, while I gave
attention to collections, agencies for houses and lands, and such
business as my experience in banking had qualified me for. Yet, as
my name was embraced in a law-firm, it seemed to me proper to take
out a license. Accordingly, one day when United States Judge
Lecompte was in our office, I mentioned the matter to him; he told
me to go down to the clerk of his court, and he would give me the
license. I inquired what examination I would have to submit to,
and he replied, "None at all;" he would admit me on the ground of
general intelligence.
During that summer we got our share of the business of the
profession, then represented by several eminent law-firms,
embracing names that have since flourished in the Senate, and in
the higher courts of the country. But the most lucrative single
case was given me by my friend Major Van Vliet, who employed me to
go to Fort Riley, one hundred and thirty-six miles west of Fort
Leavenworth, to superintend the repairs to the military road. For
this purpose he supplied me with a four-mule ambulance and driver.
The country was then sparsely settled, and quite as many Indians
were along the road as white people; still there were embryo towns
all along the route, and a few farms sprinkled over the beautiful
prairies. On reaching Indianola, near Topeka, I found everybody
down with the chills and fever. My own driver became so shaky that
I had to act as driver and cook. But in due season I reconnoitred
the road, and made contracts for repairing some bridges, and for
cutting such parts of the road as needed it. I then returned to
Fort Leavenworth, and reported, receiving a fair compensation. On