Hugh McCulloch wrote back to DON GUILLLERMO HARTNELL alerting him of John Begg’s ‘intention of putting a stop (for the present) to the California Establishment’

++  ’And if you do spare a few days to make sales of the cargoes that go to you from this it appears you wish that I who am toiling from years’ end to years’ end and getting bald and blind in the concern should pay you for doing what is no more than your bounded duty; but you must either turn over a new leaf or I shall no longer have the pleasure of subscribing myself, your affectionate Partner.’  ++  Settling such important matters by correspondence became impossible.  Months must intervene before there was the possibility of an answer.  Meanwhile, distressing rumors were reaching the coast concerning the increasing depression in England.  As hostilities slowly ceased on the South American continent, a resultant check occurred in the business of such companies as James Brotherston’s.  Suspension of payments by English banking houses was attributed, by Mr. Begg, to overissuance of paper in speculations on foreign securities.  Mr.  Begg even had retailed the rumor, which Captain Lincoln refused to credit, that Brotherston and Company itself had failed.  ++  Hartnell’s presence in Lima became imperative when the company ship ‘Aurora’ brought a harried letter from McCulloch:  ++  ’The cares and anxieties of the last 10 months have literally made an old man of me before my youth is half finished. . . . .John Begg & Co. have written you by this conveyance intimating to you their intention of putting a stop (for the present) to the California Establishment and requesting you to wind up the concern, and make out a Balance Sheet of how the affairs stand; I am of opinion that this is only a temporary winding up, at least I would fain hope so (I can’t get Mr. Begg to speak decisively) for it would be a great pity to give up the concern just at the time when. . . .there was every chance of some good business being done.  I do not like the idea of our sowing and other people reaping the fruits.’  ++  Mr. Begg, in the same month of May 1826, announced to the resident manager of McCulloch, Hartnell and Company:  ++  ’It is now our wish to bring the Firm to a termination, and completely to wind up all its transactions, before we enter into new articles of copartnership with your Mr. Hartnell. … +++