our bank, wrote his note for twenty-five thousand dollars, and
secured it by mortgage on real estate and city warrants, and
substituted the three acceptances of the Hamburg firm for the
overplus. I surrendered to him all his former notes, except one for
which he was indorser. The three acceptances duly matured and were
paid; one morning Meiggs and family were missing, and it was
discovered they had embarked in a sailing-vessel for South America.
This was the beginning of a series of failures in San Francisco,
that extended through the next two years. As soon as it was known
that Meiggs had fled, the town was full of rumors, and everybody was
running to and fro to secure his money. His debts amounted to
nearly a million dollars. The Hamburg house which, had been
humbugged, were heavy losers and failed, I think. I took possession
of Meiggs's dwelling-house and other property for which I held his
mortgage, and in the city warrants thought I had an overplus; but it
transpired that Meiggs, being in the City Council, had issued
various quantities of street scrip, which was adjudged a forgery,
though, beyond doubt, most of it, if not all, was properly signed,
but fraudulently issued. On this city scrip our bank must have lost
about ten thousand dollars. Meiggs subsequently turned up in Chili,
where again he rose to wealth and has paid much of his San Francisco
debts, but none to us. He is now in Peru, living like a prince.
With Meiggs fell all the lumber-dealers, and many persons dealing in
city scrip. Compared with others, our loss was a trifle. In a
short time things in San Francisco resumed their wonted course, and
we generally laughed at the escapade of Meiggs, and the cursing of
his deluded creditors.

Shortly after our arrival in San Francisco, I rented of a Mr.
Marryat, son of the English Captain Marryat, the author, a small