of Page, Bacon & Co.; that we kept our books exactly as they did;
that every day the ledger was written up, so that from it one could
see exactly how much actual money was due the depositors and
certificates; and then by counting the money in the vault,
estimating the bullion on hand, which, though not actual money,
could easily be converted into coin, and supplementing these
amounts by "bills receivable," they ought to arrive at an
approximate-result. After Folsom had left me, John Parrott also
stopped and talked with me to the same effect. Next morning I
looked out for the notice, but no such notice appeared in the
morning papers, and I afterward learned that, on Parrott and Folsom
demanding an actual count of the money in the vault, Haight angrily
refused unless they would accept his word for it, when one after
the other declined to sign his paper.

The run on Page, Bacon & Co. therefore continued throughout the
21st, and I expected all day to get an invitation to close our bank
for the next day, February 22, which we could have made a holiday
by concerted action; but each banker waited for Page, Bacon & Co.
to ask for it, and, no such circular coming, in the then state of
feeling no other banker was willing to take the initiative. On the
morning of February 22, 1855, everybody was startled by receiving a
small slip of paper, delivered at all the houses, on which was
printed a short notice that, for "want of coin," Page, Bacon & Co.
found it necessary to close their bank for a short time. Of
course, we all knew the consequences, and that every other bank in
San Francisco would be tried. During the 22d we all kept open, and
watched our depositors closely; but the day was generally observed
by the people as a holiday, and the firemen paraded the streets of
San Francisco in unusual strength. But, on writing up our books