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W
 C. R
.
William C. Ralston, a synonym for goodness, was born at Wellsville,
Ohio, January 15th, 1820. He drifted to California, being one of the first to
pass through the Golden Gate. Here he remained for twenty-five years,
becoming the most noted man in the State, having prospered wonderfully.
It has been truly said of him that he did more than any other one man to
secure a good municipal government for San Francisco. Aiding with his
money weak industries, he did much to elevate the tone of a class of people
consisting of almost every nationality—the miners. The struggling young
man had nothing but sympathy extended him from this great philanthropist;
indeed, his great desire seemed to be, what can I do for my less fortunate
fellow-man. He was elected President of the Bank of California, to succeed
Mr. Mills. This bank had a credit all over the globe. It was the greatest
financial power in the Republic. Such was its standing in the financial
world when Mr. Mills delivered the bank over to Mr. Ralston. Mr. Ralston
was a great and good man, but his desire to benefit and aid others led him to
place out the bank's money too freely; hence, when Mr. Flood made his
sudden and unlooked for call for over $5,000,000, the amount of his
deposit, it was useless for the bank to try to raise it at once, as it could not
be done, notwithstanding the bank had ample resources, if they had only
been available. Mr. Flood, it seemed to us, need not have pressed his claim
when he knew that the bank could pay him soon. It is claimed by some that
he chose this method to cripple the Bank of California to the advantage of
his Nevada Bank. Be this as it may, Mr. Ralston unwisely allowed his
tender heart to be touched too deeply, and thus placed the bank in a weak
position to meet such a crisis. A meeting of the directors was immediately
called, and it was decided to ask the President for his resignation which,
together with his household effects, he promptly tendered. This was a
terrible blow to him, and it may be the officials were somewhat hasty. On
the 27th of August he went down to the beach, put on his bathing suit,

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drank something from a bottle (it is alleged), dived into the waves, was
carried far out and was never again seen alive.
As the people gazed on his lifeless body they began to realize what a loss
they had sustained. Threats of vengeance were heard on every hand, which
made it seem best for the founders of the rival Nevada Bank to abstain from
being seen in their usual haunts. A public meeting was called, and long
before the appointed time to begin the business of the meeting the public
hall where it was held was packed, and thousands were unable to get in.
One orator addressed those in the hall while the dense mass outside, who
were unable to get in, were divided and addressed by two speakers. The
several charges against him were in turn taken up, and either proven false or
shown to be justified by the excited populace. The following resolution
expressive of the irreparable loss the city had sustained, was presented.
Resolved
, "That in reviewing the life of the deceased. William C. Ralston,
we recognize one of the first citizens of San Francisco, the master spirit of
her industries, the most bounteous giver to her charities, the founder of her
financial credit, and the warm supporter of every public and private effort to
augment her prosperity and welfare. That to his sagacity, activity, and
enterprise, San Francisco owes much of her present material prosperity, and
in his death has sustained an irreparable loss. That in his business
conceptions he was a giant, in social life an unswerving friend, and in all
the attributes of his character he was a man worthy of love and trust." When
"All those in favor of this say aye," was called, the answer came like the
sound of heavy artillery, and not a solitary 'No' was heard in that vast
crowd.
Rev. T. K. Noble said, "The aim of his life was not to pull down but to
build up. What enterprise can you mention looking to the betterment of
material interests in which he did not have part? In the building of railroads,
in the establishment of lines of steamships to Australia, to China, to Japan;
in the manufacture of silk; in the Pacific Woolen Mills, the Bay Sugar
Refinery, the West Coast Furniture Manufactory; and in those superb
buildings, the Grand and Palace hotels; and in many other enterprises I have
not time to mention. Into each and all of these he put his money and his
brains." This was expressive of much, and it very clearly represented the

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general impression of the people throughout his State. He gave not only his
money, but his sympathy.
People of the East who know of him principally as a man of great wealth
cannot conceive an idea of such a man,—indeed they have none such
among them. He was the moral phenomenon of modern times. The people
of his State all love him, and there are those to-day who are struggling in
various enterprises who can look to no one now for help, who like to tell of
the time 'when they could have gone to 'Frisco and seen Ralston about it.'
What a tribute is this; when we think of a man who regarded money only as
a means to do good, and who seemed a special Providence to all in need.
We look upon this picture and we see him happy only in giving; but we turn
and our hearts bleed in sympathy when we behold him torn from his
position, the victim of avariciousness and envy, which to all appearance is
the immediate cause of his untimely death. But there is another thought
here; he should have been very cautious in placing money where it could
not be brought into immediate use in such an emergency.
Great was the feeling at his burial. Three regiments, cavalry, artillery, and
the National Guard, escorted his remains to their last resting place. After
several years Mrs. Ralston received back over $100,000, and is therefore
comfortable. We shall forever mourn the death of such men, and ever regard
and cherish their memory as among the dearest in American history.

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