Rensselaer Republican, Volume 17, Number 32, Rensselaer, Jasper County, 16 April 1885 — A Millionaire’s Beginning. [ARTICLE]

A Millionaire’s Beginning.

Warwick Martin, the author of several books on political economy, told mo he lent ltabtun, the California million aire f wlio committed suicide a year or two ago, the money to pay his passage to California. Said he: “Ralston was born in Virginia, on the other side of the river, very near the Ohio line. He worked for my brother for some time as a young man, and I acquired perfect confidence in him. I was for years a banker in New Orleans, and I once lent young Ralston $7,000 without any security other than his own honor. This was in 1845. Ralston hod. some interest at the time in a steamboat on the Mississippi river, and I think he used the money in connection with it When the California gold fever broke out he came to my bank and took up his note, paying cash in full. He then said: 'I am now free from debt, but I have no money. I want to go to Panama, and perhaps to California. I think there is a chance for ipeto make something in the embloyment of Fritz & Garrison, at Panama. If I do not snoceed there, I wish to go to California. Will you lend me money to go to the isthmus, and credit, no that if I

—f— — ! —* T fail there I can go to San Francisco?* I replied: ‘Certainly,’ and gave him enough to take him to Panama, and a letter of credit sufficient for the remainder of the trip, if it was necessary. A few months after this I received a letter from him, remitting from Panama my letter of credit and the money I had advanoed him. It was twenty years after this before I again heard from him personally. He had then become the great San Francisco-Million-aire, and he was one of the wealthy men of the Nation. I was in New York in 1869, and needed money very badly. I wrote to Mr. Ralston and told him that I was about to engage in an enterprise which might take $5,000, ! and might require SIO,OOO. If he could let me have either sum I would be glad to avail myself of his asißstance. On the day this letter must have reached San Francisco I received a telegram from Mr. Ralston, telling me to draw on Lees & Waller for SIO,OOO. With the telegram in my hand I went to this banking house, and, on the presentation of it, the hanker informed me that this sum bad been placed there to my credit by Mr. Ralston on that very day. It is said that Mr. Ralston committed suicide, but the fact has been disputed, and I doubt it very much.”— Letter in Cleveland Leader.