He enjoyed it, for now he had at his call all the civil and police resources of the city. This gave him a pleasant feeling of power. He was at the centre of things. And through his office he came into contact with ever-widening circles of people, all of whom were disposed, even anxious, to treat him well, to get in his good graces.

Possibly most of these were what we would call the worst elements; and by that we would mean not only the roughnecks of the police or sheriff's offices, but also the punctilious, smooth-mannered Southerners who practically monopolized the political offices. These men would have been little considered in the South; in fact, in many cases, they had left their native states under a cloud or even with prison records; but their natural charm, their audacity, and their great punctilio as to "honour" deeply impressed the ordinary citizen.

As one chronicler of the times puts it, they had "fluency in harangue, vigour in invective, ostentatious courage, absolute confidence about all matters of morals, politics, and propriety"--which is an excellent thumbnail sketch. Many of these ex-jailbirds rose to wealth and influence, so that to this day the sound of their names means aristocracy and birth to those ignorant of local history. Their descendants may be seen to-day ruffling it proudly on the strength of their "birth!"

They, and the cla.s.ses they directly and indirectly encouraged, had at last brought the city fairly on the financial rocks. There was no more revenue. Everything taxable had been taxed. The poll tax was out of all reason; property paid 4 per cent. on an actual valuation; theatres, bankers, brokers, freight, miners, merchants, hotel, keepers, incorporations, every form of industry was levied upon heavily. Still that was not enough. Even labour was paid now in scrip so depreciated that the cost of the simplest public works was terrible.

And to heap up the measure, the year of 1855 was one of financial stringency. The season of '54-'55 had been one of drought. For lack of water most of the mining had ceased. The miners wanted to be trusted for their daily needs; the country stores had to have credit because the miners could not pay; and so on up to the wholesalers in the city.

Goods were therefore sold cheap at auction, and the gold went East to pay at the source. Money, actual physical money, became scarce. The gold was gone, and there existed no inst.i.tution legally ent.i.tled to issue the paper money that might have taken its place. All the banking was done by private firms. These took deposits, made loans, issued exchange, but could not issue banknotes.

Still, things had looked a bit squally many times before, but nothing had happened. Men had the habit of optimism. No one stopped to a.n.a.lyze the situation, to realize that the very good reason nothing had happened was that the city had always had behind it the strength of the mines, and that now the mines had withdrawn.

Out of a clear sky came the announcement that Adams & Co. had failed!

At first n.o.body believed it. Adams & Co. had occupied in men's minds from the start much the same position as the Bank of England. The confirmation of the news caused the wildest panic and excitement. If Adams & Co. were vulnerable, n.o.body was secure. Small merchants began to call in their credits. The city caught up eagerly every item of news. All the a.s.sets of the bankrupt firm were turned over to Alfred Cohen as receiver. Some interested people did not trust Cohen. They made enough of a fuss to get H. M. Naglee appointed in Cohen's place.

Naglee, demanding the a.s.sets, was told they had been deposited with Palmer, Cook & Co. The latter refused to give them up, denying Naglee's jurisdiction in the matter. The case was brought into court. Then suddenly it was found that Palmer, Cook & Co. had mysteriously lost their paramount interest in the courts. They had counted on the case being brought before their own judges; but it was cited before Judges Hazen and Park, both of whom, while ultra-technical, were honest. The truth of the matter was that the rats suspected Palmer, Cook & Co. of sinking, too, and had deserted. Judges Hazen and Park called upon the firm to turn over to Naglee the a.s.sets of Adams & Co. They still refused. One of the partners, named Jones, and Cohen were imprisoned.

Some where $269,000 was missing. n.o.body knew anything about it. The books having to do with the transaction had mysteriously disappeared.

Two days later an Irishman found them floating in the bay, and brought them to the court. But the crucial pages were missing. And then suddenly, while both Judge Hazen and Judge Park were out of town, application was made to the Supreme Court--of which Judge Terry was head--for the release of Jones and Cohen. The application was granted.

So an immense sum of money disappeared; n.o.body was punished; it was all strictly legal; and yet the dullest labourer could see that the whole transaction amounted to robbery under arms. Failures resulted right and left. Wells Fargo & Co. closed their doors, but resumed within a few days. A great many pocketbooks were hit. There was much talk and excitement.

x.x.xVII

On an evening in October, returning home at an early hour, Keith found Nan indignant and excited. She held in her hand a tiny newspaper, not half the usual size, consisting only of a single sheet folded.

"Have you seen this?" she burst out as Keith entered. "Isn't it outrageous!"

Keith was tired, and sank into an easy chair with a sigh of relaxation.

"No, what is it?" he asked, reaching his hand for the paper. "Oh, the new paper. I saw them selling it on the street yesterday."

It was the _Bulletin_, Vol. 1, No. 2. Like all papers of that day, and like some of the English papers now, its first page was completely covered with small advertis.e.m.e.nts. A thin driblet of short local items occupied a column on the third and fourth pages, a single column of editorial on the second.

"Seems a piffling little sheet," he observed, "to be read in about eight seconds by any one not interested in advertis.e.m.e.nts. What is it that agitates you, Nan?"

"Read that." She pointed to the editorial.

The article in question proved to be an attack on Palmer, Cook & Co. It said nothing whatever about the Cohen-Naglee robbery. Its subject was the excessive rentals charged the public by Palmer, Cook & Co. for postal boxes. But it mentioned names, recorded specific instances, avoided generalities, and stated plainly that this was merely beginning at the beginning in an expose of the methods of these "Uriah Heeps."

"Why do they permit such things?" cried Nan, scarcely waiting for Keith to finish his reading, "What is Mr. Palmer going to do about it?"

"Survive, I guess," replied Keith, with a grin. "I take back my opinion of the paper. It certainly has life." He turned to the head of the page. "Hullo!" he cried in surprise. "James King of William running this, eh?" He whistled, then laughed. "That promises to be interesting, sure. He was in business with that crowd for some time. He ought to have information from the inside!"

"Mrs. Palmer is simply furious," said Nan.

"I'll bet she is. Are we invited out this evening?"

"The Thurstons' musicale. I thought you'd be interested in that."

"Let me off, Nan, that's a good fellow," pleaded Keith, whose weariness had vanished. "I'd be delighted to go at any other time. But this is too rich. I must see what the gang has to say."

"I suppose I could drop Ben Sansome a note," a.s.sented Nan doubtfully.

"Do! Send the c.h.i.n.k around with it," urged Keith, rising. "I'll get a bite downtown and not bother you."

The gang--as indeed the whole city--took it as a great joke. Of those Keith met, only Jones, the junior partner, failed to see the humour, and he pa.s.sed the affair off in cavalier fashion. That did not save him from the obligation of setting up the drinks.

"I'm going to fix this thing up in the morning," he stated confidently.

"Between you and me, there's evidently been a slip somewhere. Of course it ought never to have been allowed to go so far. I'll see this man King first thing in the morning, and buy him off. Undoubtedly that's about the only reason his paper exists. Wonder where he got the money to start it? He's busted. It can't last long."

"If it keeps up the present gait, it'll last," said Judge Caldwell shrewdly. "Me--I'm going to send in a subscription tomorrow. Wouldn't miss it for anything."

"It'll last as long as he does," growled Terry, "and that'll be about as long as a s...o...b..ll in h.e.l.l. What you ought to do, Jones, is what any man of spirit ought to do--call him out!"

"He announces definitely that he won't fight duels," said Calhoun Bennett.

"Then treat him like the cowardly hound he is," flared the uncompromising Terry. "Take the whip to him; and if that isn't effective, shoot him down as you would any other mad dog!"

"Surely, that's a little extreme, Judge," expostulated Caldwell. "He hasn't done anything worse than stir up Jonesy a little."

"But he will, sir," insisted Terry, "you mark my words. If you give him line, he'll not only hang himself, but he'll rope in a lot of bystanders as well."

"I'll bet he sells a lot of papers to-morrow, anyhow," predicted Keith.

"I hope so," bragged Jones. "There'll be the more to read his apology."

Evidently Jones fulfilled his promise, and quite as evidently Keith's prediction was verified. Every man on the street had a copy of the next day's _Bulletin_ within twenty minutes of issue.

A roar of delight went up. Jones's visit was reported simply as an item of news, faithfully, sarcastically, and pompously. There was no comment. Even the most faithful partisans of Palmer, Cook & Co. had to grin at the effectiveness of this new way of meeting the impact of such a visit.

"It's clever journalism," Terry admitted, "but it's blackguardly; and I blame Jones for pa.s.sing it over."

The fourth number--eagerly purchased--proved more interesting because of its hints of future disclosures rather than for its actual information. Broderick was mentioned by name. The attention of the city marshal was succinctly called to the disorderly houses and the statutes concerning them; and it was added, "for his information," that at a certain address a structure was actually building at a cost of $30,000 for improper purposes. Then followed a list of personal bonds and sureties for which Palmer, Cook & Co. were standing voucher, amounting to over two millions.

The expectations of disclosures, thus aroused, were not immediately gratified, except in the case of Broderick. His swindles in the matters of the Jenny Lind Theatre and the City Hall were traced out in detail.

Every one knew these things were done, but n.o.body knew just how; so these disclosures made interesting reading if only as food for natural curiosity. However, the tension somewhat relaxed. It was generally considered that the coa.r.s.e fibre of the ex-stone-cutter, the old Tammany heeler, and the thick skins of his political adherents could stand this sort of thing. n.o.body with a sensitive honour to protect was a.s.sailed.

The position of the new paper was by now firmly established. It had a large subscription list; it was eagerly bought on the streets; and its advertising was increasing. King again turned his attention to Palmer, Cook & Co. Each day he treated succinctly, clearly, without rhetoric, some branch of their business. By the time he had finished with them he had not only exposed their iniquities, he had educated the public to an understanding of the financial methods of the times. His tilting at this banking firm had inevitably led him to criticism of certain of their subterfuges to avoid or take advantage of the law; and that as inevitably brought him to a.n.a.lysis and condemnation of the firm's legal advisers, James, Doyle, Barber & Boyd, a firm which had heretofore enjoyed a good reputation. Incidentally he called attention to duelling, venal newspapers, city sales, gambling, Billy Mulligan, Wooley Kearney, Casey, Cora, Yankee Sullivan, Martin Gallagher, Tom Cunningham, Ned McGowan, Charles Duane, and many other worthies, both of high and low degree. Never did he fear to name names and cite specific instances plainly. James King of William dealt in no innuendoes. He had found in himself the editor he had wished for, the man who would call a spade a spade.

The _Bulletin_ twice enlarged its form. It sold by the thousand. Its weapon of defence was the same as its weapon of offence--pitiless and complete publicity. Measures of reprisal, either direct or underhand, undertaken against him, King published often without comment.

At the first some of the cooler heads thought it might be well to reason with him.

"The man has run a muck," said old Judge Girvin, "and while I am far from denying that In many--perhaps in most--cases his facts are correct, still his methods make for lawlessness among the ma.s.ses. It might be well to meet him reasonably, and to expostulate."

"I'd expostulate--with a blacksnake," growled the fiery Terry.