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GREAT FORTUNES, AND HOW THEY WERE MADE
Or, The Struggles and Triumphs of Our Self-Made Men
by
JAMES D. MCCABE, JR.,
Author of _Planting the Wilderness_, etc., etc.
Numerous Illustrations from Original Designs by G. F. & E. B. Bensell
"MAN, it is not thy works, which are mortal, infinitely little, and the
greatest no greater than the least, but only the _spirit thou workest
in_, that can have worth or continuance."--CARLYLE.
George Maclean,
Philadelphia, New York and Boston
Electrotyped at the Franklin Type Foundry, Cincinnati
1871
"The physical industries of this world have two relations in them: one
to the actor, and one to the public. Honest business is more really a
contribution to the public than it is to the manager of the business
himself. Although it seems to the man, and generally to the community,
that the active business man is a self-seeker, and although his motive
may be self-aggrandizement, yet, in point of fact, no man ever manages a
legitimate business in this life, that he is not doing a thousand-fold
more for other men than he is trying to do even for himself. For, in the
economy of God's providence, every right and well organized business is
a beneficence and not a selfishness. And not less is it so because the
merchant, the mechanic, the publisher, the artist, think merely of their
profit. They are in fact working more for others than they are for
themselves."
HENRY WARD BEECHER.
PREFACE.
The chief glory of America is, that it is the country in which genius
and industry find their speediest and surest reward. Fame and fortune
are here open to all who are willing to work for them. Neither class
distinctions nor social prejudices, neither differences of birth,
religion, nor ideas, can prevent the man of true merit from winning the
just reward of his labors in this favored land. We are emphatically a
nation of self-made men, and it is to the labors of this worthy class
that our marvelous national prosperity is due.
This being the case, it is but natural that there should be manifested
by our people a very decided desire to know the history of those who
have risen to the front rank of their respective callings. Men are
naturally cheered and encouraged by the success of others, and those who
are worthy of a similar reward will not fail to learn valuable lessons
from the examples of the men who have preceded them.
With the hope of gratifying this laudable desire for information, and
encouraging those who are still struggling in the lists of fame and
fortune, I offer this book to the reader. I have sought to tell simply
and truthfully the story of the trials and triumphs of our self-made
men, to show how they overcame where others failed, and to offer the
record of their lives as models worthy of the imitation of the young men
of our country. No one can hope to succeed in life merely by the force
of his own genius, any more than he can hope to live without exerting
some degree of influence for good or evil upon the community in which
his lot is cast. Success in life is not the effect of accident or of
chance: it is the result of the intelligent application of certain fixed
principles to the affairs of every day. Each man must make this
application according to the circumstances by which he is surrounded,
and he can derive no greater assistance or encouragement in this
undertaking than by informing himself how other men of acknowledged
merit have succeeded in the same departments of the world's industry.
That this is true is shown by the fact that many of the most eminent men
attribute their great achievements to the encouragement with which the
perusal of the biographies of others inspired them at critical periods
of their careers. It is believed that the narrations embraced in these
pages afford ample instruction and entertainment to the young, as well
as food for earnest reflection on the part of those who are safely
advanced upon their pathway to success, and that they will prove
interesting to all classes of intelligent readers.
Some explanation is due to the reader respecting the title that has been
chosen for the work. The term "Great Fortunes" is not used here to
designate pecuniary success exclusively. A few of the men whose lives
are herein recorded never amassed great wealth. Yet they achieved the
highest success in their vocations, and their lives are so full of
interest and instruction that this work must have been incomplete and
unsatisfactory had they been passed over in silence. The aim of the
writer has been to present the histories of those who have won the
highest fame and achieved the greatest good in their respective
callings, whether that success has brought them riches or not, and above
all, of those whose labors have not only opened the way to fortune for
themselves, but also for others, and have thus conferred lasting
benefits upon their country.
In short, I have sought to make this work the story of the _Genius of
America_, believing as I do that he whose achievements have contributed
to the increase of the national wealth, the development of the national
resources, and the elevation of the national character, though he
himself be poor in purse, has indeed won a great fortune, of which no
reverse can ever deprive him.
J.D. McC., JR.
NEW YORK, _24th October, 1870_.
LIST OF ILLUSTRATIONS.
CONSTERNATION AT SIGHT OF FULTON'S MONSTER (Frontispiece)
GIRARD COLLEGE
GIRARD'S HEROISM
ASTOR'S FIRST TRIP FOR FURS
"MY MEN SHALL NOT SUFFER"
PORTRAIT OF GEORGE PEABODY
PEABODY PAYING FOR A NIGHT'S LODGING
PORTRAIT OF CORNELIUS VANDERBILT
VANDERBILT EARNING HIS FIRST HUNDRED DOLLARS
VANDERBILT CARRYING OFF THE SHERIFF
FOUNDING A GREAT FORTUNE
PORTRAIT OF ROBERT FULTON
AN AMAZING REVELATION
"THE MADHOUSE IS THE PROPER PLACE FOR HIM"
WHITNEY WATCHING THE FIRST COTTON-GIN
PORTRAIT OF ELIAS HOWE, JR.
HOWE'S FIRST IDEA OF THE SEWING-MACHINE
THE BOY COLT INVENTING THE REVOLVER
PORTRAIT OF SAMUEL F.B. MORSE
HOW THE NEW YORK HERALD BEGAN
MARSHALL'S DEFENCE OF CHRISTIANITY
PORTRAIT OF JAMES T. BRADY
"THEY ARE GOING TO HANG MY BROTHER; YOU CAN SAVE HIM!"
THE TRUANT'S SECRET DISCOVERED
PORTRAIT OF HIRAM POWERS
POWERS' DISTRUST OF THE HUNTERS
FILIAL DEVOTION SHAPES A GREAT CAREER
CARTWRIGHT CALLING UP THE DEVIL
PORTRAIT OF NATHANIEL HAWTHORNE
JEFFERSON, AS RIP VAN WINKLE
PRESCRIBING AT THE BREAKFAST-TABLE
"PRESIDENT LINCOLN HAS BEEN MURDERED!"
CONTENTS.
I. MERCHANTS.
CHAPTER I.
STEPHEN GIRARD.
The fog in the Delaware--News of the war--Alarm of the French skipper--A
narrow escape from capture--Arrival of Girard in Philadelphia--Early
history of Stephen Girard--An unhappy childhood--Goes to sea--Is
licensed to command--Becomes a trader in Philadelphia--Marries Mary
Lum--Unfortunate issue of the marriage--Capture of Philadelphia by the
British--Early commercial life of Stephen Girard--How he earned his
first money, and the use he made of it--Aid from St. Domingo--His rigid
attention to business--Thoroughness of his knowledge--One of his letters
of instructions--His subordinates required to obey orders though they
ruin him--Anecdote of Girard and one of his captains--His promptness and
fidelity in business--He never breaks his word--How he lost five hundred
dollars--Buys the old Bank of the United States and becomes a
banker--Cuts down the salaries of his clerks--Refuses his watchman an
overcoat--Indifference to his employes--Contrast between his personal
and business habits--His liberality in financial operations--He
subscribes for the entire Government loan in 1814, and enables the
United States to carry on the war--His generosity toward the
Government--The suspension of specie payments--Financial troubles--How
Girard saved his own notes--His public spirit--How he made half a
million of dollars on a captured ship--Personal characteristics--Why he
valued money--His ambition--His infidelity--Causes of the defects of his
character--A favorable view--Heroic conduct of Stephen Girard during
the prevalence of the yellow fever in Philadelphia--The Good
Samaritan--He practices medicine, and congratulates himself that he has
killed none of his patients--His industry--Visit of Mr. Baring to Mr.
Girard--A curious reception--Failing health and death of Stephen
Girard--His will--His noble bequests--Establishment of Girard College.
CHAPTER II.
JOHN JACOB ASTOR.
Legitimate business the field of success--Reasons for claiming Astor as
an American--Birth and early life--Religious training--The village of
Waldorf--Poverty--The jolly butcher--Young Astor's repugnance to his
father's trade--Unhappy at home--Loses his mother--His desire to
emigrate to the "New Land"--Leaves home--His voyage down the
Rhine--Reaches London and enters the service of his brother--His efforts
to prepare for emigration--Learns to speak English--Peace between the
United States and Great Britain--The road to the "New Land" open--Astor
sets out for America--His first ventures in commerce--The voyage--How he
proposed to save his Sunday clothes--Arrival in the Chesapeake--The
ice-blockade--Astor makes a friend--The fur trader's story--Astor sees
the way to fortune--Reaches New York--His first situation--Learning the
business--His method of proceeding--An example to young men--His capacity
for business operations--He is promoted--His journeys to Canada, and
their results--Sets up in business for himself--The fur trade of North
America--A survey of the field of Astor's operations--His capital--His
tramps into the wilderness in search of furs--Predictions as to the
future settlement of the country--His first consignment to England--His
marriage--A good wife--Improvement in his prospects--Buys his first
ship--The secret of his success--Close attention to business--His
economical habits--His indorsement disputed by a bank clerk--Statements
of the profits on furs--He engages in the Chinese trade--How the
Government aided the early China traders--Amount made by Astor in his
legitimate business--His real estate operations--His foresight and
courage--How eight thousand dollars yielded eighty thousand--His real
estate in the City of New York--Purchases the half of Putnam County--The
Roger and Mary Morris estate controversy--Astor wins his suit, and makes
half a million of dollars--Astor's scheme of colonization--A grand
enterprise--Settlement of Astoria--Betrayed by his agents, and the
scheme brought to failure--Astor withdraws from active business--His
boyhood's vow and its fulfillment--Builds the Astor House--His voyage to
Europe--The return--The troubles of a millionaire--The great man
seasick--A curious draft--The last years of his life--His fondness for
literary men--His death and burial--His will--Opposite views of his
character--How his refusal to buy a chronometer cost him seventy
thousand dollars--He remembers an old friend--His gift of a lease--His
humor--"William has a rich father."
CHAPTER III.
ALEXANDER T. STEWART.
Birth and early life--Becomes his grandfather's ward--Designed for the
ministry--A change in his plans--Comes to America--Teaches school in New
York--Becomes a dry goods merchant--Receives a legacy--His first
importation--How he began business--An energetic trader--His sample lots
and their history--Success of his enterprise--He begins by encouraging
honesty in trade--Wins a name for reliability--The system of selling at
one price--Inaugurates the "selling off at cost" feature--His courage in
business--How he raised the money to meet his note--Improvement in his
business--He enlarges his store--As an inducement to the ladies, employs
for clerks handsome young men--The crisis of 1837--Stewart comes out of
it a rich man--How he did so--Builds his lower store--Predictions of
failure--The result--Compels the Government to purchase goods from
him--His foresight and liberality--Charged with superstition--Lucky and
unlucky persons--Story of the old apple woman--Remarks at the opening of
the St. Nicholas Hotel--Reasons of Stewart's success--A hard worker--How
he receives visitors--Running the gauntlet--How he gets rid of
troublesome persons--Estimate of Mr. Stewart's real estate in New
York--His new residence--His benevolence--Aid for Ireland, and free
passages to America--Home for women--Political sentiments--Mr. Stewart's
appointment as Secretary of the Treasury--Feeling of the country--The
retail store of A.T. Stewart & Co.--A palace of glass and iron--Internal
arrangements--The managers and salesmen--List of sales--Wages
given--Visitors--The principal salesroom--The parcel department--The
wagons and stables--Extravagant purchases--Mr. Stewart's supervision of
the upper store--The system of buying--The foreign agencies--Statement
of the duties paid each day--Personal appearance of Mr. Stewart.
CHAPTER IV.
AMOS LAWRENCE.
The Lawrence family--A poor boy--Early education--Delicate
health--Obtains a situation at Dunstable--Returns to Groton--Becomes Mr.
Brazer's apprentice--The variety store--An amateur doctor--Importance of
Groton in "old times"--Responsibility of young Lawrence--Is put in
charge of the business--High character--Drunkenness the curse of New
England--Lawrence resolves to abstain from liquors and tobacco--His
self-command--Completes his apprenticeship--Visits Boston--An unexpected
offer--Enters into business in Boston--Is offered a partnership, but
declines it--His sagacity justified--Begins business for
himself--Commercial importance of Boston--Aid from his father--A narrow
escape--lesson for life--Amos Lawrence's method of doing business---An
example for young men--His business habits--He leaves nothing unfinished
over Sunday--Avoids speculation--His views upon the subject--Introduces
double entry in book-keeping into Boston--His liberality to his
debtors--Does not allow his business to master him--Property gained by
some kinds of sacrifices not worth having--Forms a partnership with his
brother Abbott--Business of the firm--They engage in manufactures--Safe
business principles--A noble letter--Political opinions--His
charities--Statement of his donations--Requests that no public
acknowledgment of his gifts be made--Character as a merchant and a
man--Advice to his son--His religious character--Loss of his health--His
patience and resignation--The model American merchant.
CHAPTER V.
ANDREW V. STOUT.
Early struggles--Acquires an education--Undertakes the support of his
family--The boy teacher--Hard work--Is made instructor of Latin--A
trying position--How he conquered his difficulties--Is made principal of
a public school--His first business ventures--Engages in the building of
houses--His platform of integrity--His success--A great mistake--He
indorses a note--The consequence of a false step--Liberal action of the
bank--Mr. Stout resolves to accept no accommodation--Pays the notes, and
loses twenty-three thousand dollars--Establishes himself as a wholesale
boot and shoe dealer--Enters the dry goods trade--Close attention to
business--His system and its success--Organization of the Shoe and
Leather Bank of New York--Mr. Stout is made Vice President, and
subsequently President--Character as a citizen--Is made City
Chamberlain--Generosity to the police force--Interest in church
affairs--Kindness to the poor--Encouragement which his career affords
others.
CHAPTER VI.
JONAS CHICKERING.
The largest building in the United States--The Chickering piano
factory--Birth of Jonas Chickering--Early love of music--Is apprenticed
to a cabinet-maker--Is employed to repair a piano--Succeeds in the
undertaking--Consequence of this success--Becomes a piano-maker--Removes
to Boston--Is employed as a journeyman--The labor of his life--His
patience and skill--Is known as the best workman in the
establishment--History of the piano--Chickering's first discovery--His
hope of success based on intelligence--Becomes a master of the theory of
sound--His studies and their result--Makes an improvement in the framing
of pianos--Invents the circular scale for square pianos--Generously
makes his invention free--A noble gift to the world--His business
operations--Increase in the demand for his instruments--Death of Captain
Mackay--Mr. Chickering undertakes the sole charge of his affairs--Fears
of his friends--Magnitude of the business--The lawyer's question
answered--The mortgages paid--Rapid success of Mr. Chickering--His
varied duties--Sharp competition--A bogus Chickering--How a Boston bank
lost his custom--His independence in business--His character as a
merchant--Trains his sons to succeed him in business--The result of his
efforts--The present house of Chickering & Sons--Destruction of the
factory--Offers of aid--Mr. Chickering's kindness to his workmen--Sets
to work to re-establish his business--The new factory begun--Sudden
death of Mr. Chickering.
CHAPTER VII.
NICHOLAS LONGWORTH.
The grape interest of the United States--Growing demand for American
wines--Instrumentality of Mr. Longworth in producing this success--Early
life of Mr. Longworth--Apprenticed to a shoemaker--Removes to South
Carolina--Returns to Newark and studies law--Removes to
Cincinnati--Admitted to the bar--His first case--Is paid in whisky
stills, and trades them for lands which make his fortune--Rapid growth
of Cincinnati--The oldest native inhabitant of Chicago--Longworth's
investments in real estate--Immense profits realized by him--His
experiments in wine growing--History of the Catawba grape--Longworth
decides to cultivate it entirely--His efforts to promote the grape
culture in the Ohio Valley--Offers a market for all the grape juice that
can be brought to him--The result of his labors seen in the Ohio
vineyards of to-day--His wine cellars--Amount of wine made annually by
him--The process used--How "Sparkling Catawba" is made--Longworth's
experiments with strawberries--His liberality--Gift of land to the
Observatory--His challenge to a grumbler--Estimate of his character--His
eccentricities--His generosity to his tenants--How he made money by
helping others to grow rich--His politics--How he subscribed one hundred
dollars to elect Clay--His hatred of vagabondage--His stone quarry--How
he provided it with laborers--His system of helping the poor--Is charged
with stinginess--The "devil's poor"--Personal appearance--The
"Hard-times" overcoat--Charity to a millionaire--Death of Mr. Longworth.
CHAPTER VIII.
GEORGE PEABODY.
Birth and parentage--Early education--His first lessons in business--An
apprentice in a country store--Youthful ambition--A desire for
change--The visit to Post Mills--Removal to Newburyport--Reasons for his
attachment to that place--His first patron--Peabody goes south--A
soldier in the War of 1812-15--A young merchant--A change of
prospects--A partner in the house of Riggs & Peabody--Peabody's business
capacity--An irregular banker--His reputation as a business
man--Promising opening of a brilliant career--Retirement of Mr.
Riggs--Growth of the business--A branch house in London--Mr. Peabody
saves the credit of the State of Maryland--Tribute from Edward
Everett--Success in London--A model American merchant--Establishment of
the house of George Peabody & Co.--The Fourth of July dinner--The
exhibition of 1851--Patriotism of Mr. Peabody--How he saved the United
States from humiliation--Admission of the "London Times"--Mr. Peabody's
business habits--His economy--Adventure with a conductor--Finds a
conscientious hackman--Personal simplicity--Visits to the United
States--His munificent donations--His last visit--Returns to London and
dies--Honors paid to his memory--The funeral ceremonies--His burial at
Peabody--Statement of his donations and bequests--His example
encouraging to the young.
II. CAPITALISTS.
CHAPTER IX.
CORNELIUS VANDERBILT.
Staten Island seventy-six years ago--The establishment of the Staten
Island ferry--Birth of Cornelius Vanderbilt--His boyhood--Defective
education--A famous rider--His early reputation for
firmness--Superintends the removal of a ship's cargo at the age of
twelve--How he pawned a horse--Becomes a boatman--How he bought his
boat--A disastrous voyage--His life as a boatman--His economy and
industry--Earns three thousand dollars--The alarm at Fort
Richmond--Vanderbilt's perilous voyage for aid for the forts--His
marriage--His first contract--How he supplied the harbor
defenses--Builds his first schooner--His winter voyages--Becomes a
steamboat captain--His foresight--Leases the hotel at New Brunswick--The
dangers of navigating the New York waters--The steamboat war--How
Captain Vanderbilt eluded the sheriff--Becomes manager of the steamboat
line--Declines an increase of salary--Only wants to carry his
point--Refuses to buy Mr. Gibbons's interest in the steamboat company,
and builds his own boat--Narrow escape from ruin--Final
triumph--Systematic management of his vessels--How he ruined the
"Collins Line"--The "North Star"--Becomes a railroad director--How he
foiled a plan to ruin him--dishonest legislature--Vanderbilt's
triumph--His gift to the Government--His office in New York--Vanderbilt
in business hours--Personal characteristics--Love for horses--His
family.
CHAPTER X.
DANIEL DREW.
Birth-place--Birth and parentage--A farmer's boy--Goes to New York to
seek his fortune--Becomes a cattle drover--Leases the Bull's Head
Tavern--His energy and success in his business--Brings the first western
cattle to New York--Helps a friend to build a steamboat--The fight with
Vanderbilt--Drew buys out his friend, and becomes a steamboat
owner--Vanderbilt endeavors to discourage him--He perseveres--His
success--Formation of the "People's Line" on the Hudson River--The
floating palaces--Forms a partnership with George Law, and establishes
the Stonington line--Opening of the Hudson River Railway--Drew's
foresight--Room enough for the locomotive and the steamboat--Buys out
the Champlain Company--Causes of his success as a steamboat
manager--Becomes a banker--His success in Wall Street--Indorses the
acceptances of the Erie Railway Company--His courage and calmness in the
panic of 1857--He saves "Erie" from ruin--Elected a director of the Erie
Road--Is made Treasurer--His interest in the road--His operations in
Wall Street--His farm in Putnam County--Joins the Methodist Church--His
liberality--Builds a church in New York--Founds the Drew Theological
Seminary--Estimate of his wealth--His family--Personal appearance.
CHAPTER XI.
JAMES B. EADS.
Birth--Childhood--Fondness for machinery--Early mechanical
skill--Constructs a steam engine at the age of nine years--His
work-shop--Death of his father--Works his way to St. Louis--Sells apples
on the streets--Finds employment and a friend--Efforts to
improve--Becomes a clerk on a Mississippi steamer--Undertakes the
recovery of wrecked steamboats--Success of his undertaking--Offers to
remove the obstacles to the navigation of the Mississippi--Failure of
his health--Retires from business--Breaking out of the war--Summoned to
Washington--His plan for the defense of the western rivers--Associated
with Captain Rodgers in the purchase of gunboats--His first contract
with the Government--Undertakes to build seven ironclads in sixty-five
days--Magnitude of the undertaking--His promptness--Builds other
gunboats during the war--The gunboat fleet at Forts Henry and Donelson
the private property of Mr. Eads--Excellence of the vessels built by
him--A model contractor--Residence in St. Louis.
CHAPTER XII.
CYRUS W. FIELD.
Birth--Parentage--Early education--Goes to New York in search of
employment--Obtains a clerkship in a city house, and in a few years
becomes a partner--A rich man at thirty-four--Retires from
business--Travels in South America--Meets Mr. Gisborne--Plan of the
Newfoundland Telegraph Company--Mr. Field declines to embark in
it--Conceives the idea of a telegraph across the Atlantic
Ocean--Correspondence with Lieut. Maury and Prof. Morse--The scheme
pronounced practicable--Mr. Field secures the co-operation of four New
York capitalists--Organization of the New York, Newfoundland, and London
Telegraph Company--Building of the line from New York to St. John's--A
herculean task--The Governmental ocean surveys of the United States and
England--Efforts to secure aid in England--Liberal action of the
Government--Organization of the Atlantic Telegraph Company--A hard-won
success in America--Passage of the bill by Congress--The first attempt
to lay the cable--The expedition of 1857--The telegraph fleet--Scenes on
board--Loss of the cable--Failure of the expedition--Difficulties
remedied--The new "paying-out" machinery--The expedition of 1858--The
second attempt to lay the cable--Dangerous storm--Failures--Loss of the
cable--The third attempt--The cable laid successfully--Messages across
the Atlantic--Celebrations in England and the United States--The signals
cease--The cable a failure--Discouraging state of affairs--Courage of
Mr. Field--Generous offer of the British Government--Fresh
soundings--Investigations of the Telegraph Board--Efforts of Mr. Field
to raise new capital--Purchase of the Great Eastern--The fourth attempt
to lay the cable--Expedition of 1865--Voyage of the Great Eastern--Loss
of the cable--Efforts to recover it unsuccessful--What the expedition
demonstrated--Efforts to raise more capital--They are pronounced
illegal--The new company--The fifth attempt to lay the cable--Voyage of
the Great Eastern--The cable laid at last--Fishing up and splicing the
cable of 1865--The final triumph--Credit due to Mr. Field.
III. INVENTORS.
CHAPTER XIII.
ROBERT FULTON.
Trinity churchyard--The Livingston vault--An interesting place--Fulton's
tomb--Birth of Robert Fulton--Boyhood--Early mechanical skill--Robert
astonishes his tutor--Robert's fireworks--"Nothing is
impossible"--"Quicksilver Bob"--The fishing excursion--The first
paddle-wheel boat--Fulton's success as an artist--His gift to his
mother--His removal to England--Intimacy with Benjamin West--Goes to
Devonshire--Acquaintance with the Duke of Bridgewater--His interest in
canal navigation--His first inventions--Goes to Paris--Residence with
Mr. Barlow--Studies in engineering--Invents the diving boat--The
infernal machine--His patriotic reply to the British ministry--His
marriage--Returns to America--The General Government declines to
purchase his torpedo--Brief history of the first experiments in steam
navigation--Fulton's connection with Livingston--The trial boat on the
Seine--Determines to build a boat on the Hudson--Fulton and Livingston
are given the sole right to navigate the waters of New York by
steam--Popular ridicule--Disbelief of scientific men--Launch of the
"Clermont"--The trial trip--The first voyage up the Hudson--Fulton's
triumph--Scenes along the river--Efforts to sink the
steamer--Establishment of steam navigation on the Hudson River--The
first New York ferry-boats--The floating docks--Boats for the West--New
York threatened by the British fleet in 1814--Fulton's plan for a steam
frigate--The "Fulton the First"--The steamboat war--Illness of
Fulton--His death and burial--His last will--True character of his
invention.
CHAPTER XIV.
CHARLES GOODYEAR.
Discovery of India-rubber--Mode of collecting it--Preparation and use by
the natives--Its introduction into the United States--Mr. E.M. Chaffee's
process--The India-rubber fever--Brief success of the India-rubber
companies--Their sudden failure--Visit of Mr. Goodyear to New York--He
invents an improvement in the life preserver--Early history of Charles
Goodyear--His failure as a merchant--Offers his invention to the Roxbury
Company--The agent's disclosures--Mr. Goodyear finds his mission--His
first efforts--A failure--Discouraging state of his affairs--Renews his
efforts--Experiments in India-rubber--Coldness of his friends--His
courage and perseverance--Goes to New York--Accidental discovery of the
aqua fortis process--Partial success--Ruined--Life on Staten
Island--Removes to Boston--Delusive prosperity--The mail bag
contract--His friends urge him to abandon his efforts--He refuses--On
the verge of success--Discovers the usefulness of sulphur--The
inventor's hope--The revelation--Discovers the secret of
vulcanization--Down in the depths--Kept back by poverty--A beggar--A
test of his honesty--Starvation at hand--The timely loan--Removal to New
York--Difficulties in the way--Death of his youngest child--Finds
friends in New York--His experiments in vulcanization--Final
success--His heart in his work--Fails to secure patents in Europe--His
losses from dishonest rivals--Declaration of the Commissioner of
Patents--Death of Mr. Goodyear--Congress refuses to extend his
patent--His true reward.
CHAPTER XV.
ELI WHITNEY.
The home of General Greene in Georgia--The soldier's widow--An arrival
from New England--The young schoolmaster--A mechanical genius--Early
history of Whitney--Mrs. Greene's invitation--Visit of the
planters--State of the cotton culture in 1792--A despondent
planter--Mrs. Greene advises them to try Whitney--Origin of the cotton
gin--Whitney's first efforts--His workshop--The secret labors--How he
provided himself with materials--Finds a partner--Betrayal of his
secret--He is robbed of his model--He recovers it and completes it--The
first cotton gin--Statement of the revolution produced by the invention
in the cotton culture of the South--Opinion of Judge Johnson--The story
of an inventor's wrongs--Whitney is cheated and robbed of his
rights--The worthlessness of a patent--A long and disheartening
struggle--Honorable action of North Carolina--Congress refuses to extend
the patent--Whitney abandons the cotton gin--Engages in the manufacture
of firearms--His improvements in them--Establishes an armory in
Connecticut, and makes a fortune--Death.
CHAPTER XVI.
CHAUNCEY JEROME.
The old-fashioned clocks--Their expensiveness--Condition of the clock
trade of Connecticut sixty years ago--Early history of Chauncey
Jerome--A hard life--Death of his father--Becomes a farmer's boy--Is
anxious to become a clock-maker--An over-wise guardian--Hardships of an
apprentice--How Jerome became a carpenter--Hires his winters from his
master--Becomes a dial-maker--The clock-making expedition--Jerome's
first savings--Takes a wife--A master carpenter--Poor pay and hard
work--Buys a house--A dull winter--Enters Mr. Terry's factory--The
wooden clock business--Sets up in business for himself--Industry and
energy rewarded--His first order--Sends his clocks South--Enlarges his
business--Improvements in his clocks--Losses on southern shipments from
dampness--Depression of business--Jerome's anxiety--A wakeful
night--Invention of the brass--A new era in the clock trade--Beneficial
effects of Jerome's invention--Magnitude of the Connecticut clock trade
at present--Growth of Jerome's business--Makes a fortune--Organization
of the "Jerome Clock-making Company"--Practical withdrawal of Mr.
Jerome--Difficulties of the company--Jerome a ruined man--Honest
independence--Finds employment--Becomes the manager of the Chicago
Company.
CHAPTER XVII.
ELIAS HOWE, JR.
The first sewing-machine--Birth of Elias Howe--A poor man's son--Raised
to hard work--His first employment--The little mill-boy--Delicate
health--Goes to Lowell to seek his fortune--Thrown out of
employment--Removes to Cambridge--Works in a machine shop with N.P.
Banks--Marries--A rash step--Growing troubles--A hard lot--Conceives the
idea of a sewing-machine--His first experiments unsuccessful--Invents
the lock stitch and perfects the sewing-machine--Hindered by his
poverty--A hard struggle--Finds a partner--His winter's task--His attic
work-shop--Completion of the model--Perfection of Howe's
invention--Efforts to dispose of the invention--Disappointed
hopes--Popular incredulity--Becomes an engine driver--Amasa Howe goes to
England with the sewing-machine--Bargain with the London
merchant--Elias removes to London--Loses his situation--The rigors of
poverty--Returns to America--Death of his wife--Fate's last blow--The
sewing-machine becomes better known--Adoption by the public--A tardy
recognition--Elias Howe sets up in business for himself--Buys out his
partner's interest--The sewing-machine war--Rapid growth of the
sewing-machine interest--Earnings of the inventor--A royal
income--Honors conferred upon him--Enlists in the United States Army--A
liberal private--Last illness and death.
CHAPTER XVIII.
RICHARD M. HOE.
Growth of the art of printing--Birth of Richard M. Hoe--Sketch of the
career of Robert Hoe--He comes to America--His marriage--Founds the
house of "Robert Hoe & Co."--The first steam printing presses--He
retires from business--Richard M. Hoe is brought up in the business--The
mechanical genius of the house--The new firm--Richard Hoe's first
invention--Obtains a patent for it--Visits England--Invents the
double-cylinder press--Demand for increased facilities for printing--Mr.
Hoe's experiments with his press--His failures--How the "Lightning
Press" was invented--A good night's work--Patents his invention--The
first "Lightning Press"--Demand for it--Rapid growth of the business of
the firm--Statement of the operations of the house--Personal
characteristics of Richard M. Hoe--The "Lightning Press" at work.
CHAPTER XIX.
SAMUEL COLT.
Birth and parentage--A restless boy--Dislikes school--Early fondness for
mechanical inventions--Is sent to boarding-school--Runs away to sea--The
story of a boy's invention, and what came of it--Origin of the
revolver--Returns home--His chemical studies--Dr. Coult--The lecturing
tour--His success--Completes his design for the revolver--Patents his
invention--Visits England--Discovery at the Tower of London--Returns
home--Formation of the "Patent Arms Company"--Objections of the
officers of the army and navy to the revolver--The Florida War--It is
decided by the revolver--Triumph of Col. Colt--Cessation of the demand
for arms--Failure of the company--Beginning of the Mexican War--Action
of General Taylor--No revolvers to be had--A strange dilemma for an
inventor--The new model--Contracts with the Government--Success of the
revolver in Mexico--The demand from the frontier--Emigration to
California and Australia--Permanent establishment of Col. Colt's
business--The improved weapon--Builds a new armory--Description of his
works at Hartford--A liberal employer--Other inventions of Col.
Colt--His submarine telegraph--His fortune--His marriage--Visits to
Europe--Attentions from European dignitaries--Witnesses the coronation
of the Emperor of Russia--His last illness and death.
CHAPTER XX.
SAMUEL F.B. MORSE.
Birth--Parentage--Early education--Graduates at Yale College--Becomes an
artist--His masters--Visits England--His first attempt--"The Dying
Hercules"--Opinion of Benjamin West--Wins the medal of the Adelphi
Society of Arts--Ambition as an artist--His cold reception by the
Americans--Mr. Tuckerman's comments--Organizes the National Academy of
Design--Visits Europe the second time--The homeward voyage in the
"Sully"--News of the experiments at Paris with the electro-magnet--How
the electric telegraph was invented--Morse is made a professor in the
University of New York--Completion of his model--An imperfect
telegraph--His first experiments--The duplicate finished--First
exhibition of the telegraph--Morse applies for a patent--Visits Europe
to introduce his invention--His failure--Seeks aid from Congress--A
disheartening effort--A long struggle--Independence of Morse--Despondent
at last--A sudden lifting of the cloud--The experimental line--The
trial--A curious Cabinet Minister--Success of the
telegraph--Establishment of companies in the United States--Professor
Morse wins fame and fortune--The telegraph in Europe--Honors at home and
abroad--A list of his rewards--Morse originates submarine telegraphy,
and predicts the laying of an Atlantic telegraph--Personal characteristics.
IV. PUBLISHERS.
CHAPTER XXI.
JAMES HARPER.
The Brothers Harper--Birth and parentage of James Harper--The Long
Island home--James Harper goes to New York--Becomes a "devil"--Winning
his way--How he gave his card to a stranger--Arrival of "Brother
John"---Good habits--Sets up for himself--"J. & J. Harper,
Printers"--How they started in business--Integrity rewarded--First
job--Their first effort at stereotyping--The Harpers become publishers
on their own account--Their early ventures--Feeling their way to
success--Their publications--Character of their books--How they drove
the "yellow covers" out of the market--Their prosperity--Admission of
new partners--The great fire--Destruction of the establishment of Harper
& Brothers--Energy of the firm--Re-establishment of their
business--Their new premises--Description of the buildings--Personal
characteristics of Mr. James Harper--Religious life--Liberality of
sentiment--His industry--Elected Mayor of New York--Kindness to his
operatives--Physical Vigor--"The Lord knows best"--Accident to Mr.
Harper and his daughter--His death.
CHAPTER XXII.
JAMES T. FIELDS.
The old "Corner Book-store" in Boston and its associations--Carter &
Bendee employ a new clerk--Birth and early life of James T. Fields--His
literary talent--Governor Woodbury's advice--Enters mercantile
life--Determined to rise--His studies--The result--Associated with
Edward Everett at the age of eighteen--His business talent--Steady
promotion--Becomes head clerk with Allen & Ticknor--Establishment of the
firm of Ticknor & Fields--Success as a publisher--High character of his
house--Relations toward authors--Publications of Ticknor &
Fields--Removal--Organization of the firm of Fields, Osgood & Co.--The
new book-store--An elegant establishment--Mr. Field's literary
success--Statement of a friend--"Common Sense"--His contributions to the
periodicals of the firm--Travels in Europe--Personal appearance.
V. EDITORS.
CHAPTER XXIII.
JAMES GORDON BENNETT.
Birth--Intended for the Romish priesthood--How he was induced to come to
America--Arrival in Halifax--Comes to the United States--What came of a
shilling--Employment in Boston--Reaches New York--Attempts to establish
a school--Becomes connected with the press--Success of his Washington
letters--Services on the "Courier and Inquirer"--Leaves that
journal--Removes to Philadelphia--Establishes "The
Pennsylvanian"--Ingratitude of his political associates--Returns to New
York--Establishment of "The New York Herald"--Early difficulties of that
paper, and how Bennett surmounted them--The first "Herald" office--A
determined effort to succeed--First numbers of "The Herald"--How one man
carried on a newspaper--A lucky hit--The first "money article"--The
office burned down--The great fire--Bennett's reports of the
disaster--Success of "The Herald"--His first advertising
contract--Increasing prosperity--The journal of to-day--How it is
conducted--The new "Herald" office--Bennett's pride in his
paper--Personal characteristics--His independence.
CHAPTER XXIV.
ROBERT BONNER.
Birth and parentage--Emigration to America--Becomes a printer--A
first-class compositor--Engaged upon the "Evening Mirror"--The
"Merchant's Ledger"--Bonner purchases the paper, and changes its name to
the "New York Ledger"--The new literary journal--Predictions of
failure--Bonner confident of success--Engages Fanny Fern to write for
him--A handsome price for a story--Wonderful success of the
"Ledger"--Skillful advertising--Popularity of the paper--How Bonner
silenced the critics--"Edward Everett writes for the 'Ledger'"--How
Bonner treats his contributors--"Henry Ward Beecher writes for the
'Ledger'"--Immense circulation of the paper--The new "Ledger"
building--Private residence of Mr. Bonner--His stable--His love for
horses.
VI. LAWYERS.
CHAPTER XXV.
JOHN MARSHALL.
The model American lawyer--Birth and early life of John Marshall--A
devoted father--Early education--The young patriot--Troubles with
England--Marshall becomes a soldier--The "Culpepper Minute
Men"--Marshall's popularity in the army--Finishes his law studies--His
journey from Williamsburg to Philadelphia--Commences the practice of the
law--Elected to the Legislature--Establishes himself in Richmond--The
power of a powdered wig and velvet coat--Marshall's services in the
Virginia Convention of 1798--Becomes the champion of Washington's
Administration--Refuses public honors--Is made Minister to France
--Public reception in New York--Elected Member of Congress--His
memorable speech--Enters the Cabinet of President Adams as Secretary of
State--Is made Chief Justice of the United States--His record--His "Life
of Washington"--Personal characteristics--His generosity--William
Wirt's pen and ink sketch of him--His courtesy and kindness--Fondness
for manly sports--The quoit club--How he carried a proud man's turkey
home--The supper party--The Chief Justice loses the wager--Mode of
traveling on his circuit--The scene at Maguire's Hotel in Winchester,
Virginia--The unknown champion of Christianity--A brilliant
defense--Last illness and death of Judge Marshall.
CHAPTER XXVI.
JAMES T. BRADY.
Birth and early life--His "big head"--His kindliness of
disposition--Enters his father's office to study law--Merry nature--How
he studied law--A model for ambitious youths--His father's opinion of
him--Admitted to the bar--His first case--The newsboy case--sudden rise
in popularity--Practices in the Supreme Court--The India-rubber suit--A
compliment from Daniel Webster--Brady's integrity--Professional success
and generosity--His readiness in managing his cases--Conduct toward
witnesses--His fearlessness--A bold declaration in Tammany Hall--His
profound knowledge of his profession--His industry--His disinterested
kindness--His humor--Meets his match--Political life--Personal
appearance--A genial old bachelor--Literary tastes and labors--His
generosity to the poor--Devotion to his relatives--Last appearance in
public--Forebodings--Death.
VII. ARTISTS.
CHAPTER XXVII.
BENJAMIN WEST.
A native of Pennsylvania--Circumstances attending his birth--The child
of promise--First indications of genius--The baby's portrait--Lessons
from the Indians--The box of colors--The truant pupil--The mother's
discovery---West's opinion of his first picture--The little portrait
painter--The first attempt at historical painting--"The Death of
Socrates"--Choosing a profession--Dedicated to his work--A fighting
Quaker--Establishes himself in New York--Visits Europe--Arrival at Rome,
and reception there--Visit to the Apollo Belvidere--West's
criticism--Travels and labors on the continent--Visits England--His
reception there--Urged to stay--Decides to make England his home--Sends
for his bride--Marriage--"Agrippina Landing with the Ashes of
Germanicus"--Success of the picture--The king becomes his friend--The
most famous works of Benjamin West--"The Death of Wolfe"--Reception of
the picture by the public--West triumphs over the critics, and
inaugurates a new era of historical painting--Death of the king--West is
elected President of the National Academy--His resignation and
re-election--Closing years of a great career--Personal appearance--Leigh
Hunt's description of him--Death--Burial in St. Paul's Cathedral.
CHAPTER XXVIII.
JOHN ROGERS.
Birth--Early years--Begins life as a clerk in a dry goods
store--Artistic talent--Opposition of his parents--A change in his
plans--Becomes an engineer--Failure of his eyes--Voyage to Spain--Return
home--Becomes a machinist--Promoted--Learns to model in clay--Commences
his studies in art--A hard life, and a noble perseverance--A change for
the better--A sudden reverse--Out of work--Visits Europe to study his
art--Returns home in despair--Enters the service of the surveyor of the
city of Chicago--His first statuettes--Their success--A new field opened
to him--Visits New York, and learns the new method of casting
figures--Establishes himself in New York--His first studio--Immediate
popularity of his works--Description of them--Removes to a new
studio--His later works--Process by which they are made-Originality of
the artist rewarded by the public--Personal characteristics.
CHAPTER XXIX.
HIRAM POWERS.
Birth--Juvenile mechanical skill--The life of a Vermont boy--Hard
times--Removal of the Powers family to the West--The new
farm--Misfortunes never come singly--Breaking up of the
household--Hiram's first employment--The reading-room scheme--Hiram
becomes a collector of bad debts--Reminiscences of the young
West--Powers becomes a mechanic--Story of the brass plates--Rapid
promotion--The silver watch--How Hiram purchased it--The Cincinnati
Museum--The artist's first lessons in modeling--His first sitter--The
trial of skill--The king of the Cannibal Islands--The man-eater--Hiram
becomes interested in the museum--How he played the devil in
Cincinnati--A dishonest employer--Mr. Longworth's offer--Powers goes to
Washington--His success there--Visit to "Old Hickory"--The first
critic--Kindness of Senator Preston--Powers goes to Italy--Arrival in
Florence--His first works in Italy--Visit to Thorwaldsen--Works of
Powers--His rapid success--His life in Italy--Views of Mr. Powers
respecting an artist life--Personal characteristics--Popularity with
artists.
CHAPTER XXX.
EMMANUEL LEUTZE.
An American by adoption--Early life and education--How he learned to
draw--Becomes an artist--His first picture--The evils of too much
haste--His first professional engagement--Despondency--A ramble through
the Virginia woods, and what came of it--A friend in need--Greater
success--Friendship of Mr. Carey--Leutze goes to Europe--Studies at
Dusseldorf-His reception there--Becomes Lessing's pupil--His first
picture finds a purchaser--Travels and studies in Europe--Returns to
Dusseldorf, marries, and makes his home in that place--His
paintings--Returns to New York--Success in America--The Government
commission--Journey to the Rocky Mountains--The great fresco in the
Capitol--"Westward the Star of Empire takes it Way"--Revisits
Dusseldorf--Reception by the artists--Returns to the United
States--Further commissions from the Government--His sudden death--His
unfinished works--Mr. Tuckerman's remarks.
VIII. DIVINES.
CHAPTER XXXI.
HENRY WARD BEECHER.
A Connecticut boy--The minister's family--A gloomy childhood--Ma'arm
Kilbourn's school--The loss of his curls--The dull boy--A bad voice for
an orator--His first religious impressions--Aunt Esther--The Sunday
catechism--Sent to boarding school--Love of nature--Enters his sister's
school--The hopeless case--An inveterate joker and an indifferent
scholar--Removal to Boston--Gets through the Latin school--The sea-going
project--Dr. Beecher's ruse--Life at Mount Pleasant--Conquers
mathematics--Embraces religion at a revival--Resolves to become a
minister--Removal to Cincinnati--Course at the Lane Seminary--How he
learned to preach--Marries--His first charge--Life at
Lawrenceburg--Removal to Indianapolis--Life in the West--His
popularity--His theory of preaching and its success--Conversion of his
brother--Mr. Beecher accepts a call to Plymouth Church in
Brooklyn--Political record--Literary labors--Pastoral work--A large
audience--Government of Plymouth Church--Description of the edifice--The
congregation--The services--Mr. Beecher as a preacher--Sympathy between
the pastor and his hearers--His ideas of religion--How he prepares his
sermons--His prayers unstudied--The social receptions--The Friday
evening meeting--A characteristic scene--Labors during the war--Visit to
Europe--An unpopular sermon in a good cause--Personal characteristics.
CHAPTER XXXII.
PETER CARTWRIGHT.
Birth--Removal to Kentucky--"Rogue's harbor"--Condition of the country
and the people--Frontier life--Early life of a preacher--Becomes a
Christian--His account of his conversion--Is made an exhorter in the
Methodist Church--Removal to Lewiston County--Begins
preaching--Qualifications of a backwoods preacher--His energy--The
jerks--How Peter frightened a bully--A brimstone angel--Enters the
ministry--Appointed to the Marietta Circuit--A good school--Hard
times--Marries--Quiet heroism--How the old-time people married--His
devotion to the Methodist Church--Troubles with other denominations--How
he argued with a Universalist--How he met a wrathful dame--Encounter
with a Baptist preacher--Adventure with Father Teel--Taming a
shrew--Removal to Illinois--His reasons for taking that step--Death of
his daughter--Arrival at his new home--Life on the frontier--A large
district--The Methodist circuit riders of sixty years ago--Perils of
frontier traveling--Success of Cartwright's ministry--How he was
superannuated--His courage--How he cleared a camp of rowdies--Encounter
on a ferry-boat--Frightens a bully--Advocates temperance--A practical
joke--Is elected to the Legislature--His opinion of politics--How he
raised the devil--"Another sinner down"--Missionaries from the
East--Indignation of the backwoods preacher--The proposed mission to New
England--Cartwright declines it--He visits Boston--His reception--How he
preached for Father Taylor--Summing up--Sixty-seven years of a
preacher's life.
IX. AUTHORS.
CHAPTER XXXIII.
HENRY W. LONGFELLOW.
Birth and early life--The old house by the sea--College life--Early
literary productions--Becomes a professor in Bowdoin College--Travels in
Europe--Marriage--Literary labors--"Outre Mer"--Is made a professor in
Harvard College--His second visit to Europe--Death of his wife--Goes to
live in the Craigie House--Historical associations--Washington's
headquarters--A congenial home--Literary labors--"Hyperion"--Great
popularity of the book--"Voices of the Night"--"The Spanish
Student"--Mr. Longfellow buys the Craigie House--Summary of his
works--The "Song of Hiawatha"--Death of Mrs. Longfellow--Mr. Longfellow
again visits Europe--His popularity with the English-speaking
race--Cause of his popularity--"Resignation"--Scene from "The Golden
Legend"--The poet's home.
CHAPTER XXXIV.
NATHANIEL HAWTHORNE.
The Hawthornes of Salem--A sea-going race--Birth of Nathaniel
Hawthorne--A sad home--Early life--His college days--Longfellow's
recollection of him--Returns home--The young recluse--Literary
efforts--"Twice-Told Tales"--"The most unknown author in
America"--Enters the Boston Custom House--His duties--Popularity with
the sailors--Loses his office--Becomes a member of the Brook Farm
Community--Marries and goes to live at Concord--"The Old Manse"--Life at
Concord--Curiosity of the village people--"Mosses from an Old
Manse"--Hawthorne's visitors--Hawthorne and his friends--George William
Curtis' recollections--Removes to Salem--Is made surveyor of that
port--"The Scarlet Letter"--Removal to the Berkshire Hills--"The House
of the Seven Gables"--Returns to Concord--"Life of Franklin Pierce"--Is
made Consul to Liverpool---Life abroad--Depressed by the war--Moncure D.
Conway's recollections--Juvenile works--Death of Mr. Ticknor--Effect
upon Hawthorne--Goes traveling with Ex-President Pierce--Sudden death of
Hawthorne--Burial at Concord.
X. ACTORS.
CHAPTER XXXV.
EDWIN BOOTH.
The elder Booth--His success as an actor--His sons--Birth of Edwin
Booth--Early life--Brought up on the stage--Admiration for his
father--Travels with him--First appearance--Appears frequently with his
father--Plays Richard III. in New York--A bold venture--Learns the
details of his profession--Visits Australia and the Sandwich
Islands--Re-appearance in New York in 1857--Recollections of him at that
time--His labors in his profession--Successful tours throughout the
country--Visits England--Appears at the Haymarket Theater in
London--Studies on the continent--Appearance at the Winter Garden--The
Shakespearian revivals--Destruction of the Winter Garden by fire--Loss
of Mr. Booth's theatrical wardrobe--Popular sympathy--The new
theater--Opening of the building--Description of Booth's Theater--A
magnificent establishment--A splendid stage--Novel mode of setting the
scenes--Magnificent mounting of the plays produced there--Mr. Booth's
performances--Personal--Genius as an actor--Beneficial influence upon
the drama.
CHAPTER XXXVI.
JOSEPH JEFFERSON.
The Jefferson family--A race of actors--Jefferson the first--"Old
Jefferson"--Jefferson the third--Birth of Joseph
Jefferson--Childhood--Brought up on the stage--Olive Logan's
reminiscence--First appearance in public--Early training--Career as a
stock actor--Becomes a "star"--His success--Visits Australia, the
player's El Dorado--Pecuniary success of Jefferson in Australia--His
merits as an actor--Visits England--First appearance at the Adelphi
Theater--"Our American Cousin"--Production of Rip Van Winkle--Makes the
part his specialty--Description of his performance of Rip Van
Winkle--Personal characteristics--Devotion to his profession--Love of
art--A capital sportsman--Buys a panorama--A visit to John Sefton--"The
Golden Farmer"--Private life.
XI. PHYSICIANS.
CHAPTER XXXVII.
BENJAMIN RUSH.
Birth and early life--Adopts medicine as a profession--Studies in
Europe--Returns home, and is made a professor in the Philadelphia
Medical College--Political career--Elected to the Provincial Conference
of Pennsylvania--Action with respect to the independence of the
colonies--Elected to the Continental Congress--Signs the Declaration of
Independence--Marriage--Is made Surgeon-General of the army--Becomes
Physician-General--Troubles--Resigns his commission--Letters to the
people of Pennsylvania--Services in the State conventions--Resumes his
practice in Philadelphia--Plans the Philadelphia Dispensary--Resumes his
professor's chair--The yellow fever in Philadelphia--A scene of
terror--"The Hundred Days"--Dr. Rush's treatment of the
disease--Opposition of the Faculty--Success of Rush's
treatment--Testimony of Dr. Ramsay--Suit for damages--Dr. Rush's
services during the fever--Reminiscences--Honors from European
sovereigns--Is made Treasurer of the United States Mint--Literary
labors--Zeal in behalf of Christianity--His connection with the Bible
Society--Death.
CHAPTER XXXVIII.
VALENTINE MOTT.
Birth--Early life--Enters Columbia College--His medical
studies--Continues his studies in Europe--Great surgical genius--His
early success as an operator--Returns home--Is made Professor of Surgery
in Columbia College--His career and success as a teacher--Introduces the
system of clinical instruction--Difficulty of procuring "subjects" for
dissection--Desperate expedients--midnight adventure--A ready
rebuke--Success and skill as a surgeon--Tribute from Sir Astley
Cooper--A wonderful operation--Sketch of his original operations--His
mode of operating--Careful preparation--Success as a physician--A
progressive mind--Professional honors--Visits Europe--Reception
abroad--Operates upon the Sultan of Turkey--A cool
proposition--Personal--His last illness and death--"President Lincoln
murdered."
[Illustration: GIRARD COLLEGE]
I.
MERCHANTS.
CHAPTER I.
STEPHEN GIRARD.
One May morning, in the year 1776, the mouth of the Delaware Bay was
shrouded in a dense fog, which cleared away toward noon, and revealed
several vessels just off the capes. From one of these, a sloop, floated
the flag of France and a signal of distress. An American ship ran
alongside the stranger, in answer to her signal, and found that the
French captain had lost his reckoning in a fog, and was in total
ignorance of his whereabouts. His vessel, he said, was bound from New
Orleans to a Canadian port, and he was anxious to proceed on his voyage.
The American skipper informed him of his locality, and also apprised him
of the fact that war had broken out between the colonies and Great
Britain, and that the American coast was so well lined with British
cruisers that he would never reach port but as a prize. "What shall I
do?" cried the Frenchman, in great alarm. "Enter the bay, and make a
push for Philadelphia," was the reply. "It is your only chance."
The Frenchman protested that he did not know the way, and had no pilot.
The American captain, pitying his distress, found him a pilot, and even
loaned him five dollars, which the pilot demanded in advance. The sloop
got under weigh again, and passed into the Delaware, beyond the defenses
which had been erected for its protection, just in time to avoid capture
by a British war vessel which now made its appearance at the mouth of
the bay. Philadelphia was reached in due time, and, as the war bade fair
to put an end to his voyages, the captain sold the sloop and her cargo,
of which he was part owner, and, entering a small store in Water Street,
began the business of a grocer and wine-bottler. His capital was small,
his business trifling in extent, and he himself labored under the
disadvantage of being almost unable to speak the English language. In
person he was short and stout, with a dull, repulsive countenance, which
his bushy eyebrows and solitary eye (being blind in the other) made
almost hideous. He was cold and reserved in manner, and was disliked by
his neighbors, the most of whom were afraid of him.
This man was Stephen Girard, who was afterward destined to play so
important a part in the history of the city to which the mere chances of
war sent him a stranger.
He was born at Bordeaux, in France, on the 21st of May, 1750, and was
the eldest of the five children of Captain Pierre Girard, a mariner of
that city. His life at home was a hard one. At the age of eight years,
he discovered that he was blind in one eye, and the mortification and
grief which this discovery caused him appear to have soured his entire
life. He afterward declared that his father treated him with
considerable neglect, and that, while his younger brothers were sent to
college, he was made to content himself with the barest rudiments of an
education, with merely a knowledge of reading and writing. When he was
quite young, his mother died, and, as his father soon married again,
the severity of a step-mother was added to his other troubles. When
about thirteen years of age, he left home, with his father's consent,
and began, as a cabin-boy, the life of a mariner. For nine years he
sailed between Bordeaux and the French West Indies, rising steadily from
his position of cabin-boy to that of mate. He improved his leisure time
at sea, until he was not only master of the art of navigation, but
generally well informed for a man in his station. His father possessed
sufficient influence to procure him the command of a vessel, in spite of
the law of France which required that no man should be made master of a
ship unless he had sailed two cruises in the royal navy and was
twenty-five years old. Gradually Girard was enabled to amass a small sum
of money, which he invested in cargoes easily disposed of in the ports
to which he sailed. Three years after he was licensed to command, he
made his first appearance in the port of Philadelphia. He was then
twenty-six years old.
From the time of his arrival in Philadelphia he devoted himself to
business with an energy and industry which never failed. He despised no
labor, and was willing to undertake any honest means of increasing his
subsistence. He bought and sold any thing, from groceries to old "junk."
His chief profit, however, was in his wine and cider, which he bottled
and sold readily. His business prospered, and he was regarded as a
thriving man from the start.
In July, 1777, he married Mary Lum, a servant girl of great beauty, and
something of a virago as well. The union was an unhappy one, as the
husband and wife were utterly unsuited to each other. Seven years after
her marriage, Mrs. Girard showed symptoms of insanity, which became so
decided that her husband was compelled to place her in the State Asylum
for the Insane. He appears to have done every thing in his power to
restore her to reason. Being pronounced cured, she returned to her
home, but in 1790 He was compelled to place her permanently in the
Pennsylvania Hospital, where, nine months after, she gave birth to a
female child, which happily died. Mrs. Girard never recovered her
reason, but died in 1815, and was buried in the hospital grounds.
Girard fled from Philadelphia, with his wife, in September, 1777, at the
approach of the British, and purchased a house at Mount Holly, near
Burlington, New Jersey, where he carried on his bottling business. His
claret commanded a ready sale among the British in Philadelphia, and his
profits were large. In June, 1778, the city was evacuated by Lord Howe,
and he was allowed to return to his former home.
Though he traded with the British, Girard considered himself a true
patriot, as indeed he was. On the 27th of October, 1778, he took the
oath of allegiance required by the State of Pennsylvania, and renewed it
the year following. The war almost annihilated the commerce of the
country, which was slow in recovering its former prosperity; but, in
spite of this discouraging circumstance, Girard worked on steadily,
scorning no employment, however humble, that would yield a profit.
Already he had formed the plans which led to his immense wealth, and he
was now patiently carrying out the most trying and disheartening
preliminaries. Whatever he undertook prospered, and though his gains
were small, they were carefully husbanded, and at the proper time
invested in such a manner as to produce a still greater yield. Stephen
Girard knew the value of little things, and he knew how to take
advantage of the most trifling circumstance. His career teaches what may
be done with these little things, and shows how even a few dollars,
properly managed, may be made to produce as many thousands.
In 1780, Mr. Girard again entered upon the New Orleans and St. Domingo
trade, in which he was engaged at the breaking out of the Revolution. He
was very successful in his ventures, and was enabled in a year or two to
greatly enlarge his operations. In 1782, he took a lease of ten years on
a range of frame buildings in Water Street, one of which he occupied
himself, with the privilege of a renewal for a similar period. Rents
were very low at that time, as business was prostrated and people were
despondent; but Girard, looking far beyond the present, saw a prosperous
future. He was satisfied that it would require but a short time to
restore to Philadelphia its old commercial importance, and he was
satisfied that his leases would be the best investment he had ever made.
The result proved the correctness of his views. His profits on these
leases were enormous.
About this time he entered into partnership with his brother, Captain
John Girard, in the West India trade. But the brothers could not conduct
their affairs harmoniously, and in 1790 the firm was dissolved by mutual
consent. Stephen Girard's share of the profits at the dissolution
amounted to thirty thousand dollars. His wealth was greatly increased by
a terrible tragedy which happened soon afterward.
At the outbreak of the great insurrection in St. Domingo, Girard had two
vessels lying in one of the ports of that island. At the first signal of
danger, a number of planters sent their valuables on board of these
ships for safe-keeping, and went back to their estates for the purpose
of securing more. They never returned, doubtless falling victims to the
fury of the brutal negroes, and when the vessels were ready to sail
there was no one to claim the property they contained. It was taken to
Philadelphia, and was most liberally advertised by Mr. Girard, but as no
owner ever appeared to demand it, it was sold, and the proceeds--about
fifty thousand dollars--turned into the merchant's own coffers. This was
a great assistance to him, and the next year he began the building of
those splendid ships which enabled him to engage so actively in the
Chinese and East India trades.
His course was now onward and upward to wealth. At first his ships
merely sailed between Philadelphia and the port to which they were
originally destined; but at length he was enabled to do more than this.
Loading one of his ships with grain, he would send it to Bordeaux, where
the proceeds of her cargo would be invested in wine and fruit. These she
would take to St. Petersburg and exchange for hemp and iron, which were
sold at Amsterdam for coin. From Amsterdam she would proceed to China
and India, and, purchasing a cargo of silks and teas, sail for
Philadelphia, where the final purchase was sold by the owner for cash or
negotiable paper. His success was uniform, and was attributed by his
brother merchants to _luck_.
Stephen Girard had no faith in luck. He never trusted any thing to
chance. He was a thorough navigator, and was perfect master of the
knowledge required in directing long voyages. He understood every
department of his business so well that he was always prepared to survey
the field of commerce from a high stand-point. He was familiar with the
ports with which he dealt, and was always able to obtain such
information concerning them as he desired, in advance of his
competitors. He trusted nothing of importance to others. His
instructions to the commanders of his ships were always full and
precise. These documents afford the best evidence of the statements I
have made concerning his system, as the following will show:
_Copy of Stephen Girard's Letter to Mr. ----, Commander and
Supercargo of the ship ----, bound to Batavia._
PHILADELPHIA, ----.
SIR--I confirm my letters to you of the ---- ult., and the ----
inst. Having recently heard of the decease of Mr. ----, merchant at
Batavia, also of the probable dissolution of his house, under the
firm of Messrs. ----, I have judged it prudent to request my
Liverpool correspondents to consign the ship ----, cargo, and
specie on board, to Mr. ----, merchant at Batavia, subject to your
control, and have requested said Liverpool friends to make a
separate invoice and bill of lading for the specie, which they will
ship on my account, on board of the ship ----, and similar
documents for the merchandise, which they will ship in the same
manner; therefore, I request that you will sign in conformity.
I am personally acquainted with Mr. ----, but not with Mr. ----,
but I am on very friendly terms with some particular friends of the
latter gentleman, and consequently I give him the preference. I am
sorry to observe, however, that he is alone in a country where a
partner appears to me indispensable to a commercial house, as well
for the safety of his own capital as for the security of the
interests of those who may confide to them property, and reside in
distant parts of the globe.
The foregoing reflections, together with the detention of my ship
V----, at Batavia, from June last, epoch of her arrival at that
port, until the 15th of September, ----, when she had on board only
nineteen hundred peculs of coffee, are the motives which have
compelled me to request of my Liverpool friends to consign the
specie and goods, which they will ship on my account, on board of
the ship ----, under your command, to said Mr. ----, subject to
your control.
Therefore, relying upon your activity, perseverance, correctness,
zeal, and attention for my interest, I proceed in pointing out to
you the plan of conduct which I wish you to pursue on your arrival
at Batavia, and during your stay at that or any port of that
island, until your departure for Cowes, on the Isle of Wight, to
await my subsequent orders.
First. On your arrival at Batavia, you are to go on shore and
ascertain Mr. ----'s residence, and, if you have reason to believe
that he is still considered at that place as a man of good credit,
and merits full confidence, you are to deliver to him my Liverpool
consignees' letters to his address, and also the goods which you
have on board, in such proportion as he may request, except the
specie, which is to continue on board, as mentioned in the next
article.
Second. The specie funds of the ship ----, which will consist of
old Carolus dollars, you are to retain on board untouched, and in
the said boxes or packages as they were in when shipped from
Liverpool, well secured, and locked up in your powder magazine, in
the after run of the said ship under the cabin floor.
The bulkhead and floor of said magazine, scuttle, iron bar,
staples, etc., must be made sufficiently strong, if not already so,
while you are at Liverpool, where you are to procure a strong
padlock and key, for the purpose of securing said specie in the
most complete and safest manner; and when you have the certainty
that it is wanted to pay for the coffee purchased on account of the
ship ----, then you are to receive the said coffee, and pay or
deliver to your consignee Spanish dollars to the amount of said
purchase, and no more, having due regard to the premium or advance
allowed at Batavia on old Spanish dollars; and in that way you are
to continue paying or delivering dollars as fast as you receive
coffee, which is not to exceed the quantity which can be
conveniently stowed on board said ship ----, observing to take a
receipt for each payment, and to see that the net proceeds of the
goods, which will have been shipped at Liverpool, must be invested
in coffee, as far as the sales will permit, and shipped on board of
said ship.
Should it happen that on your arrival at Batavia you should find
that death, absence, etc., should deprive you of the services of
Mr. ----, or that, owing to some causes before mentioned, it would
be prudent to confide my interests elsewhere, in either case you
are to apply to Messrs. ----, merchants of that place, to
communicate your instructions relative to the disposal of the
Liverpool cargo, on board of the ship ----, the loading of that
ship with good merchantable coffee, giving the preference to the
first quality whenever it can be purchased on reasonable terms for
cash, or received in payment for the sales of the said Liverpool
cargo, or for a part thereof, observing that I wished said coffee
to be purchased at Samarang, or any other out-port, if practicable;
and in all cases it must be attentively examined when delivered,
and put up in double gunny bags.
If the purchase of said cargo is made at an out-port, the ship
----must proceed there to take it in.
On the subject of purchasing coffee at government sales, I have no
doubt that it is an easy way to obtain a cargo, but I am of opinion
that it is a very dear one, particularly as the fair purchaser, who
has no other object in view but to invest his money, does not stay
on the footing of competitors, who make their payments with
Netherland bills of exchange, or wish to raise the prices of their
coffee which they may have on hand for sale.
Under these impressions, I desire that all the purchases of coffee
on my account be made from individuals, as far as practicable, and
if the whole quantity necessary to load the ship can not be
obtained at private sale, recourse must then be had to government
sales.
In many instances I have experienced that whenever I had a vessel
at Batavia, the prices of coffee at the government sales have risen
from five to ten per cent., and sometimes higher.
On the subject of coffee I would remark that, owing to the increase
of the culture of that bean, together with the immense imports of
tea into the several ports of Europe, the price of that leaf has
been lowered to such a degree as to induce the people of those
countries, principally of the north, to use the latter article in
preference to the first.
That circumstance has, for these past three years, created a
gradual deduction from the consumption of coffee, which has
augmented the stock on hand throughout every commercial city of the
northern part of the globe, so as to present a future unfavorable
prospect to the importers of that article. Indeed, I am convinced
that, within a few months from this date, coffee will be ten per
cent. cheaper in the United States than what it has been at Batavia
for these two years past; nevertheless, being desirous to employ my
ships as advantageously as circumstances will permit, and
calculating also that the price at Java and other places of its
growth will fall considerably, I have no objection to adventure.
Therefore, you must use every means in your power to facilitate
the success of the voyage.
Should the invoice-cost of the entire cargo of coffee shipped at
Java, on board of the ship ----, together with the disbursements of
that ship (which must be conducted with the greatest economy), not
amount to the specie funds and net proceeds of her Liverpool cargo,
in that event you are to deliver the surplus to your consignee, who
will give you a receipt for the same, with a duplicate, expressing
that it is on my account, for the purpose of being invested on the
most advantageous terms, in good dry coffee, to be kept at my order
and disposal.
Then you will retain the original in your possession, and forward
to me the duplicate by first good vessel to the United States, or
via Europe, to care of my correspondents at Liverpool, London,
Antwerp, or Amsterdam, the names of whom you are familiar with.
If you should judge it imprudent, however, to leave that money at
Batavia, you are to bring it back in Spanish dollars, which you
will retain on board for that purpose.
Although I wish you to make a short voyage, and with as quick
dispatch at Java as practicable, yet I desire you not to leave that
island unless your consignee has finally closed the sales of the
Liverpool cargo, so that you may be the bearer of all the
documents, and account-current, relative to the final transactions
of the consignment of the ship ---- and cargo. Duplicate and
triplicate of said documents to be forwarded to me by your
consignees, by the two first safe conveyances for the ports of the
United States.
Being in the habit of dispatching my ships for Batavia from this
port, Liverpool, or Amsterdam, as circumstances render it
convenient, it is interesting to me to be from time to time
informed of the several articles of produce and manufactures from
each of those places which are the most in demand and quickest of
sale at Java. Also of the quantity of each, size of package, and
the probable price which they may sell for, cash, adding the
Batavia duty, charges for selling, etc. Please to communicate this
to your Batavia consignee.
The rates of commission I will allow for transacting the business
relative to the ship and cargo at Java are two and a half per cent,
for selling, and two and a half per cent, for purchasing and
shipping coffee and other articles.
The consignees engaging to place on board of each prow one or two
men of confidence, to see that the goods are safely delivered on
board of the ship, to prevent pilfering, which is often practiced
by those who conduct the lighter.
I am informed that the expenses for two men are trifling,
comparatively, to the plunder which has been committed on board of
the prows which deliver coffee on board of the ships.
No commissions whatever are to be allowed in the disbursements of
my ships, whenever ship and cargo belong to me, and are consigned
to some house.
While you remain at Batavia, I recommend you to stay on board of
your ship, and not to go on shore except when the business of your
ship and cargo may render it necessary.
Inclosed is an introductory letter to ----, which I request you to
deliver, after you have made the necessary arrangements with Mr.
----for the consignment of the ship and cargo, or after the
circumstance aforementioned has compelled you to look elsewhere for
a consignee. Then you are to call upon said Messrs. ----, deliver
them the aforesaid letter and the consignment of the ship ---- and
cargo, after having agreed with them in writing, which they will
sign and deliver to you, that they engage to transact the business
of the ship and cargo on the terms and conditions herein stated;
and when that business is well understood and finally closed, you
are to press them in a polite manner, so that they many give you a
quick dispatch, without giving too great a price for the coffee,
particularly at this present moment, when its price is declining
throughout those countries where it is consumed.
Indeed, on the subject of purchasing coffee for the ship ----, the
greatest caution and prudence should be exercised. Therefore, I
request that you will follow the plan of conduct laid down for you
throughout. Also, to keep to yourself the intention of the voyage,
and the amount of specie you have on board; and in view to satisfy
the curious, tell them that it is probable that the ship will take
in molasses, rice, and sugar, if the price of that produce is very
low, adding that the whole will depend on the success in selling
the small Liverpool cargo. The consignees of said cargo should
follow the same line of conduct, and if properly attended to by
yourself and them, I am convinced that the cargo of coffee can be
purchased ten per cent. cheaper than it would be if it is publicly
known there is a quantity of Spanish dollars on board, besides a
valuable cargo of British goods intended to be invested in coffee
for Stephen Girard, of Philadelphia.
During my long commercial experience, I have noticed that no
advantage results from telling one's business to others, except to
create jealousy or competitors when we are fortunate, and to
gratify our enemies when otherwise.
If my remarks are correct, I have no doubt they will show you the
necessity of being silent, and to attend with activity,
perseverance, and modesty, to the interests of your employer.
As my letters of instruction embrace several interesting objects, I
request you to peruse them in rotation, when at sea in fine
climates, during your voyage to Batavia, and to take correct
extracts, so as to render yourself master of the most essential
parts. I conclude by directing your attention to your health and
that of your crew.
I am yours, respectfully,
STEPHEN GIRARD.
Mr. Girard was not only rigidly precise in his instructions, but he
permitted no departure from them. He regarded it as dangerous to allow
discretion to any one in the execution of _his_ plans. Where a deviation
from his instructions might cause success in one case, it would cause
loss in ninety-nine others. It was understood among all his employes
that a rigid obedience to orders, in even the most trifling particulars,
was expected, and would be exacted. If loss came under such
circumstances, the merchant assumed the entire responsibility for it.
Upon one occasion one of his best captains was instructed to purchase
his cargo of teas at a certain port. Upon reaching home he was summoned
by the merchant to his presence.
"Captain ----," said Mr. Girard, sternly, "your instructions required
you to purchase your cargo at ----."
"That is true, Mr. Girard," replied the Captain, "but upon reaching that
port I found I could do so much better at ----, that I felt justified in
proceeding to the latter place."
"You should have obeyed your orders, sir," was the stern retort.
"I was influenced by a desire to serve your interests, sir. The result
ought to justify me in my act, since it puts many thousands more into
your pocket than if I had bought where I was instructed."
"Captain ----," said Girard, "I take care of my own interests. You
should have obeyed your orders if you had broken me. Nothing can excuse
your disobedience. You will hand in your accounts, sir, and consider
yourself discharged from my service."
He was as good as his word, and, though the captain's disobedience had
vastly increased the profit of the voyage, he dismissed him, nor would
he ever receive him into his service again.
To his knowledge of his business Mr. Girard joined an unusual capacity
for such ventures. He was, it must be said, hard and illiberal in his
bargains, and remorseless in exacting the last cent due him. He was
prompt and faithful in the execution of every contract, never departed
in the slightest from his plighted word, and never engaged in any
venture which he was not perfectly able to undertake. He was prudent and
cautious in the fullest sense of those terms, but his ventures were
always made with a boldness which was the sure forerunner of success.
His fidelity to his word is well shown by a circumstance which had
occurred long after he was one of the "money kings" of the land. He was
once engaged with his cashier in a discussion as to the length of time a
man would consume in counting a million of dollars, telling out each
dollar separately. The dispute became animated, and the cashier declared
that he could make a million of dots with ink in a few hours.
"I'll tell you what I'll do," said Girard, who was thoroughly vexed by
the opposition of the other, "I'll wager five hundred dollars that I can
ride in my gig from here to my farm, spend two hours there, and return
before you can make your million of dots with ink."
The cashier, after a moment's reflection, accepted the wager, and Mr.
Girard departed to his farm. He returned in a few hours, confident that
he had won. The cashier met him with a smile.
"Where is my money?" asked Girard, triumphantly.
"The money is mine," replied the cashier. "Come and see."
He led the merchant to an unused room of the bank, and there, to his
dismay, Girard saw the walls and ceiling covered with spots of ink,
which the cashier had dashed on them with a brush.
"Do you mean to say there are a million of dots here?" he cried,
angrily.
"Count them, and see," replied his subordinate, laughing. "You know the
wager was a million of dots with ink."
"But I expected you would make them with the pen."
"I did not undertake any thing of the kind."
The joke was too good, and the merchant not only paid the amount of the
wager, but the cost of cleaning the walls.
In 1810 the question of renewing the charter of the old Bank of the
United States was actively discussed. Girard was a warm friend of that
institution, which he believed had been the cause of a very great part
of the prosperity of the country, and was firmly convinced that Congress
would renew the charter. In this belief he ordered the Barings, of
London, to invest all his funds in their hands in shares of the Bank of
the United States, which was done, during the following year, to the
amount of half a million of dollars. When the charter expired, he was
the principal creditor of that institution, which Congress refused to
renew. Discovering that he could purchase the old Bank and the cashier's
house for one hundred and twenty thousand dollars, he at once secured
them, and on the 12th of May, 1812, opened the Girard Bank, with a
capital of one million two hundred thousand dollars, which he increased
the next year by one hundred thousand dollars more. He retained all the
old officers of the Bank of the United States, especially the cashier,
Mr. Simpson, to whose skill and experience he was greatly indebted for
his subsequent success.
Finding that the salaries which had been paid by the Government were
higher than those paid elsewhere, he cut them down to the rate given by
the other banks. The watchman had always received from the old Bank the
gift of an overcoat at Christmas, but Girard put a stop to this. He gave
no gratuities to any of his employes, but confined them to the
compensation for which they had bargained; yet he contrived to get out
of them service more devoted than was received by other men who paid
higher wages and made presents. Appeals to him for aid were unanswered.
No poor man ever came full-handed from his presence. He turned a deaf
ear to the entreaties of failing merchants to help them on their feet
again. He was neither generous nor charitable. When his faithful cashier
died, after long years spent in his service, he manifested the most
hardened indifference to the bereavement of the family of that
gentleman, and left them to struggle along as best they could.
Yet from the first he was liberal and sometimes magnificent in the
management of his bank. He would discount none but good paper, but it
was his policy to grant accommodations to small traders, and thus
encourage beginners, usually giving the preference to small notes, by
this system doing very much to avert the evils that would of necessity
have sprung from the suspension of the old Bank of the United States.
The Government credit was almost destroyed, and money was needed to
carry on the war. He made repeated advances to the treasury, unsolicited
by the authorities, and on more than one occasion kept the Government
supplied with the sinews of war. In 1814, when our prospects, both
military and financial, were at their lowest ebb, when the British
forces had burned Washington and the New England States were threatening
to withdraw from the Union, the Government asked for a loan of five
millions of dollars, with the most liberal inducements to subscribers.
Only twenty thousand dollars could be obtained, and the project seemed
doomed to failure, when it was announced that Stephen Girard had
subscribed for the whole amount. This announcement at once restored the
public confidence, and Mr. Girard was beset with requests from persons
anxious to take a part of the loan, even at an advanced rate. They were
allowed to do so upon the original terms. When the Government could not,
for want of funds, pay the interest on its debt to him, he wrote to the
Secretary of the Treasury:
"I am of opinion that those who have any claim for interest on public
stock, etc., should patiently wait for a more favorable moment, or at
least receive in payment treasury notes. Should you be under the
necessity of resorting to either of these plans, as one of the public
creditors, I shall not murmur."
"A circumstance soon occurred, however, which was a source of no little
discomfiture to the financial arrangements of his individual
institution. This fact was the suspension of specie payments by the
State banks, resulting from the non-intercourse act, the suspension of
the old bank, and the combined causes tending to produce a derangement
of the currency of the country. It was then a matter of great doubt with
him how he should preserve the integrity of his own institution, while
the other banks were suspending their payments; but the credit of his
own bank was effectually secured by the suggestion of his cashier, Mr.
Simpson, who advised the recalling of his own notes by redeeming them
with specie, and by paying out the notes of the State banks. In this
mode not a single note of his own was suffered to be depreciated, and he
was thus enabled, in 1817, to contribute effectually to the restoration
of specie payments."
He was instrumental in securing the establishment of the new Bank of the
United States, and was its largest stockholder and one of its directors.
He even offered to unite his own institution with it upon certain
liberal conditions, which were refused. Yet he was always a firm friend
to it.
"One of the characteristics of Mr. Girard was his public spirit. At one
time he freely subscribed one hundred and ten thousand dollars for the
navigation of the Schuylkill; at another time he loaned the company two
hundred and sixty-five thousand eight hundred and fifty dollars. When
the credit of the State of Pennsylvania was prostrated by what was
believed to have been an injudicious system of internal improvement, and
it was found expedient for the Governor to resort to its metropolis in
order to replenish its coffers, he made a voluntary loan to Governor
Shultz of one hundred thousand dollars. So far was his disposition to
promote the fiscal prosperity of the country manifested, that, as late
as 1831, when the country was placed in extreme embarrassment from the
scarcity of money, he perceived the cause in the fact that the balance
of trade was against us to a considerable extent, and he accordingly
drew upon the house of Baring Brothers & Co. for bills of exchange to
the amount of twelve thousand pounds sterling, which he disposed of to
the Bank of the United States at an advance of ten per cent., which
draft was followed up by another for ten thousand, which was disposed of
in like manner to other institutions. This act tended to reduce the
value of bills, and the rate of exchange suddenly fell. The same spirit
which he manifested toward the national currency he exhibited to the
corporation of Philadelphia, by erecting new blocks of buildings, and
beautifying and adorning its streets; less, apparently, from a desire of
profit than from a wish to improve the place which was his adopted home,
and where he had reaped his fortunes. His subscription of two hundred
thousand dollars to the Danville and Pottsville Railroad, in 1831, was
an action in keeping with the whole tenor of his life; and his
subscription of ten thousand dollars toward the erection of an exchange
looked to the same result."
The war of 1812, which brought financial ruin to so many others, simply
increased Girard's wealth. He never lost a ship, and as war prices
prevailed, his profits were in accordance with them. One of his ships
was taken by a British cruiser at the mouth of the Delaware, in the
spring of 1813. Fearing that his prize would be recaptured by an
American ship of war if he attempted to send her into port, the English
admiral dispatched a flag of truce to Mr. Girard, and proposed to him to
ransom the vessel for one hundred and eighty thousand dollars in coin.
Girard consented, paid the money, and the ship was allowed to come up to
the city. Her cargo consisted of silks, nankeens, and teas, and afforded
her owner a profit of half a million of dollars.
Yet in the midst of all his wealth, which in 1828 was estimated at ten
millions of dollars, he was a solitary old man.
He lived in a dingy little house in Water Street. His wife had died in
an insane asylum, and he was childless. He was repulsive in person. He
was feared by his subordinates--by all who had dealings with him--and
liked by none. He was mean and close in his personal habits, living on
less, perhaps, than any of his clerks, and deriving little or no benefit
from his vast wealth, so far as his individual comfort was concerned. He
gave nothing in charity. Lazarus would have lain at his doors a
life-time without being noticed by him. He was solitary, soured, cold,
with a heart of stone, and fully conscious of his personal unpopularity.
Yet he valued wealth--valued it for the power it gave him over men.
Under that cold, hardened exterior reigned an ambition as profound as
that which moved Napoleon. He was ambitious of regulating the financial
operations of the land, and proud of his power in this respect, and it
should be remembered in his favor that he did not abuse that power after
it had passed into his hands.
He had no vices, no dissipations; his whole soul was in his business. He
was conscious that his only hope of distinction above his fellow-men was
in his wealth, and he was resolved that nothing should make him swerve
from his endeavor to accumulate a fortune which should make him all
powerful in life and remembered in death. He sought no friends, and was
reticent as to his career, saying to those who questioned him about it,
"Wait till I am dead; my deeds will show what I was."
Religion had no place in his heart. He was an avowed unbeliever, making
a boast of his disbelief. He always worked on Sunday, in order that he
might show his disapproval of the observance of it as a day of rest.
Rest, he said, made a man rusty, and attendance upon the worship of God
he denounced as worse than folly. His favorite books were the works of
Voltaire, and he named his best ships after the most celebrated French
infidels.
Yet this man, so unloved, so undeserving of love, is said to have once
had a warm heart. His early troubles and his domestic griefs are said to
have soured and estranged him from mankind.
"No one who has had access to his private papers can fail to be
impressed with the belief that these early disappointments furnish the
key to his entire character. Originally of warm and generous impulses,
the belief in childhood that he had not been given his share of the love
and kindness which were extended to others, changed the natural current
of his feelings, and, acting on a warm and passionate temperament,
alienated him from his home, his parents, and his friends. And when in
after time there were superadded years of bitter anguish, resulting from
his unfortunate and ill-adapted marriage, rendered even more poignant by
the necessity of concealment, and the consequent injustice of public
sentiment, marring all his cherished expectations, it may be readily
understood why constant occupation became a necessity and labor a
pleasure."
This is the testimony of Mr. Henry W. Arey, the distinguished secretary
of Girard College, in whose keeping are the papers of the subject of
this memoir, and it must be confessed that his view of Girard's
character is sustained by the following incidents, the narration of
which I have passed over until now, in order that the history of his
commercial career might not be interrupted:
In the summer of 1793 the yellow fever broke out with fearful violence
in Philadelphia. The citizens fled in dismay, leaving the plague-smitten
city to its fate. Houses were left tenantless, and the streets were
deserted. It was a season of horror and dread. Those who could not get
away avoided each other, and the sufferers were left to languish and
die. Money could not buy nurses in sufficient numbers, and often the
victims lay unburied for days in the places where they had died. So
terrible was the panic that it seemed that nothing could stay it.
On the 10th of September the _Federal Gazette_, the only paper which had
not suspended its publication, contained an anonymous card, stating that
of the visitors of the poor all but three had succumbed to the disease
or fled from the city, and begging assistance from such benevolent
citizens as would consent to render their aid. On the 12th and 14th,
meetings were held at the City Hall, at the last of which a volunteer
committee was appointed to superintend the measures to be taken for
checking the pestilence. Twenty-seven men volunteered to serve, but only
twelve had the courage to fulfill their promise. They set to work
promptly. The hospital at Bush Hill was reported by the physician to be
in a deplorable state--without order, dirty and foul, and in need of
nurses. The last, he stated, could not be had for any price. Two of the
committee now stepped forward and nobly offered themselves as managers
of the hospital. They were Stephen Girard and Peter Helm.
Girard was now a man of wealth and influence, and with a brilliant
commercial career opening before him. Above all, he was a foreigner, and
unpopular in the city. Yet he did not hesitate to take the post from
which others shrank. He and Helm were regarded as doomed men, but they
did not falter from their self-imposed task. They went to work at once.
Girard chose the post of honor, which was the post of danger--the
management of the interior of the hospital. His decisive character was
at once felt. Order began to appear, medicines and nurses were procured,
and the very next day the committee were informed that the hospital had
been cleaned and reorganized, and was prepared to receive patients.
Girard opened his purse liberally, and spared no expense where money
would avail. But this was not all. Besides personally superintending the
interior of the hospital, he went about through the city seeking the
sick and conveying them to the hospital.
"In the great scarcity of help, he used frequently to receive the sick
and dying at the gate, assist in carrying them to their beds, nurse
them, receive their last messages, watch for their last breath, and
then, wrapping them in the sheet on which they had died, carry them out
to the burial ground and place them in the trench. He had a vivid
recollection of the difficulty of finding any kind of fabric in which to
wrap the dead, when the vast number of interments had exhausted the
supply of sheets. 'I would put them,' he would say, 'in any old rag I
could find.'"
[Illustration: GIRARD'S HEROISM.]
"If he ever left the hospital, it was to visit the infected districts,
and assist in removing the sick from the houses in which they were dying
without help. One scene of this kind, witnessed by a merchant who was
hurrying past with camphored handkerchief pressed to his mouth, affords
us a vivid glimpse of this heroic man engaged in his sublime vocation. A
carriage, rapidly driven by a black man, broke the silence of the
deserted and grass-grown street. It stopped before a frame house, and
the driver, first having bound a handkerchief over his mouth, opened the
door of the carriage, and quickly remounted to the box. A short,
thick-set man stepped from the coach and entered the house. In a minute
or two the observer, who stood at a safe distance watching the
proceedings, heard a shuffling noise in the entry, and soon saw the
stout little man supporting with extreme difficulty a tall, gaunt,
yellow-visaged victim of the pestilence. Girard held round the waist the
sick man, whose yellow face rested against his own; his long, damp,
tangled hair mingled with Girard's; his feet dragging helpless upon the
pavement. Thus he drew him to the carriage door, the driver averting his
face from the spectacle, far from offering to assist. Partly dragging,
partly lifting, Girard succeeded, after long and severe exertion, in
getting him into the vehicle. He then entered it himself, closed the
door, and the carriage drove away toward the hospital."[A]
For sixty days Mr. Girard continued to discharge his duties, never
absenting himself from his post, being nobly sustained by Peter Helm.
Again, in 1797 and 1798, when the city was scourged a second and a third
time with the fever, he volunteered his services, and more than earned
the gratitude of his fellow-citizens. In the absence of physicians, he
took upon himself the office of prescribing for the sick, and as his
treatment involved careful nursing and the use of simple remedies only,
he was very successful. In 1799 he wrote to his friend Devize, then in
France, but who had been the physician at the Bush Hill Hospital in
1793:
"During all this frightful time I have constantly remained in the city,
and, without neglecting any public duties, I have played a part which
will make you smile. Would you believe it, my friend, that I have
visited as many as fifteen sick people in a day, and what will surprise
you still more, I have lost only one patient, an Irishman, who would
drink a little. I do not flatter myself that I have cured one single
person, but you will think with me that in my quality of Philadelphia
physician I have been very moderate, and that not one of my confreres
have killed fewer than myself."
[Footnote A: James Parton.]
Such acts as these should go far in his favor in estimating his
character, for they are the very height of true heroism.
Mr. Girard was never idle. Work, as has before been said, was a
necessity with him. Nothing would draw him from his labors. His only
recreation was to drive to his little farm, which lay a few miles out of
the city, and engage with his own hands in the work of tilling it. He
was very proud of the vegetables and fruits he raised himself, and took
great interest in improving their growth. During the visit of the
present head of the house of Baring Bros, (then a young man) to this
country, that gentleman supposed he would give Mr. Girard pleasure by
informing him of the safe arrival of one of his ships, the Voltaire,
from India. Engaging a carriage, he drove to the banker's farm, and
inquired for Mr. Girard.
"He is in the hay-loft," was the answer.
"Inform him that I wish to see him," said Mr. Baring; but almost before
the words had left his lips Girard was before him.
"I came to inform you," he said, addressing the banker, "that your ship,
the Voltaire, has arrived safely."
"I knew that she would reach port safely," said Girard; "my ships always
arrive safe. She is a good ship. Mr. Baring, you must excuse me; I am
much engaged in my hay." And so saying, he ascended to the loft again.
To the last he was active. In 1830, having reached the age of eighty, he
began to lose the sight of his eye; yet he would have no assistance. In
attempting to cross a crowded street, he was knocked down by a passing
wagon and injured severely. His ear was cut off, his face bruised, and
his sight entirely destroyed. His health now declined rapidly, and on
the 26th of December, 1831, he died, in the back room of his plain
little house in Water Street.
His immense wealth was carefully divided by his will. He gave to his
surviving brother and eleven of his nieces sums ranging from five to
twenty thousand dollars, and to his remaining niece, who was the mother
of a very large family, he gave sixty thousand dollars. He gave to each
of the captains then in his employ who had made two voyages in his
service, and who should bring his ship safely into port, fifteen hundred
dollars. To each of his apprentices he gave five hundred dollars. To his
old servants he gave annuities, ranging from three to five hundred
dollars each.
He gave thirty thousand dollars to the Pennsylvania Hospital, in which
his wife had been cared for; twenty thousand to the Deaf and Dumb
Asylum; ten thousand to the Orphan Asylum; ten thousand to the Lancaster
schools; ten thousand for the purpose of providing the poor in
Philadelphia with free fuel; ten thousand to the Society for the Relief
of Distressed Sea-Captains and their Families; twenty thousand to the
Masonic Grand Lodge of Pennsylvania, for the relief of poor members; six
thousand for the establishment of a free school in Passyunk, near
Philadelphia; five hundred thousand dollars to the Corporation of
Philadelphia for certain improvements in the city; three hundred
thousand to the State of Pennsylvania for her canals; and a portion of
his valuable estates in Louisiana to the Corporation of New Orleans, for
the improvement of that city.
The remainder of his property, worth then about six millions of dollars,
he left to trustees for the erection and endowment of the noble College
for Orphans, in Philadelphia, which bears his name.
Thus it will be seen that this man, who seemed steeled to resist appeals
for private charity in life, in death devoted all the results of his
unusual genius in his calling to the noblest of purposes, and to
enterprises of the most benignant character, which will gratefully hand
his name down to the remotest ages of posterity.
CHAPTER II.
JOHN JACOB ASTOR.
Those who imagine that the mercantile profession is incapable of
developing the element of greatness in the mind of man, find a perfect
refutation in the career of the subject of this memoir, who won his
immense fortune by the same traits which would have raised him to
eminence as a statesman. It may be thought by some that he has no claim
to a place in the list of famous Americans, since he was not only German
by birth, but German in character to his latest day; but it must be
borne in mind that America was the theater of his exploits, and that he
owed the greater part of his success to the wise and beneficent
institutions of the "New Land," as he termed it. In his own country he
would have had no opportunity for the display of his great abilities,
and it was only by placing himself in the midst of institutions
favorable to progress that he was enabled to make use of his talents. It
is for this reason, therefore, that we may justly claim him as one of
the most celebrated of American merchants.
John Jacob Astor was born in the village of Waldorf, near Heidelberg, in
the Grand Duchy of Baden, on the 17th of July, 1763. This year was
famous for the conclusion of the Treaties of Paris and Hubertsburg,
which placed all the fur-yielding regions of America, from the Gulf of
Mexico to the Frozen Sea, in the hands of England. He was the youngest
of four sons, and was born of Protestant parents. He was early taught to
read Luther's Bible and the Prayer-book, and throughout his whole life
remained a zealous Protestant. He was trained to the habit of rising
early, and giving the first of his waking hours to reading the Bible and
Prayer-book. This habit he continued all through life, and he often
declared that it was to him the source of unfailing pleasure and
comfort. His religious impressions were mainly due to his mother, who
was a pious, thrifty, and hard-working woman, given to saving, and
devoted to her family.
His father, on the contrary, was a jolly "ne'er do well," a butcher by
trade, and not overburdened with industry. The business of a butcher in
so small a village as Waldorf, where meat was a luxury to the
inhabitants, was merely a nominal calling. It knew but one season of
real profit. It was at that time the custom in Germany for every farmer
to set apart a calf, pig, or bullock, and fatten it against harvest
time. As that season approached, the village butcher passed from house
to house to slaughter the animal, cure its flesh, or make sausage meat
of it, spending, sometimes, several days at each house. This season
brought Jacob Astor an abundance of work, and enabled him to provide
liberally for the simple wants of his family; but during the rest of the
year it was with difficulty that he could make bread for them. Yet Jacob
took his hard lot cheerfully. He was merry over his misfortunes, and
sought to forget them in the society of companions who gathered at the
village beer-house. His wife's remonstrances against such a course of
life were sometimes so energetic that the house became any thing but a
pleasant place for the children.
Here John Jacob grew up to boyhood. His brothers left home to earn their
livelihood elsewhere, as soon as they were old enough to do so, and he
alone remained under the paternal roof. His father destined him for his
own calling, but the boy shrank from it with disgust. To crown his
misfortunes, his mother died, and his father married again, and this
time a woman who looked with no favor upon the son. The newly-married
pair quarreled continually, and the boy was glad to escape occasionally
to the house of a schoolmate, where he passed the night in a garret or
outhouse. By daylight he was back at his father's slaughter-house, to
assist in carrying out the meat. He was poorly clad and badly fed, and
his father's bad reputation wounded him so keenly that he shrank from
playing with other boys, and led a life of comparative isolation.
Fortunately for him, he had a teacher, Valentine Jeune by name, the son
of French Protestants, who was better fitted for his position than the
majority of the more liberally-patronized Catholic instructors. He was
well taught by Valentine Jeune in the rudiments of a plain education,
and the tutor and the Protestant minister of the village together
succeeded so well in his religious instruction that at the age of
fourteen he was confirmed. Confirmation is the decisive point in the
career of the German youth. Until then he is only a child. Afterward he
is regarded as on the threshold of manhood, and is given to understand
that the time has come for him to make choice of a career in life.
To the German peasant two courses only lie open, to learn a trade or go
out to service. John Jacob was resolved not to do the latter, and he was
in no condition to adopt the former. He was already familiar with his
father's trade, but he shrank from it with disgust, and he could not
hope to obtain money enough to pay for his tuition as an apprentice in
any other calling. No workman in the village would receive him as an
apprentice for less than fifty dollars, and fifty dollars were then
further beyond his reach than as many millions in after years. The
harvest was approaching, and Jacob Astor, seeing an unusual amount of
work in store for him at that season, decided the matter for his son by
informing him that he must prepare to settle down as his assistant. He
obeyed, but discontentedly, and with a determination to abandon his home
at the earliest practicable moment.
His chief desire was to leave Germany and emigrate to America. The
American Revolution had brought the "New Land" into great prominence;
and one of the brothers, Henry Astor, had already settled in New York as
a butcher, and his letters had the effect of increasing John Jacob's
desire to follow him. It was impossible to do so then, for the war which
was raging in this country made it any thing but inviting to an
emigrant, and the boy was entirely ignorant of the English language.
Nevertheless, he knew that the war could not last always, and he
resolved to go as soon as peace would allow him. Meanwhile he wished to
join his elder brother, who had removed to London, and was now engaged
with his uncle in the manufacture of musical instruments. In London he
thought he could acquire a knowledge of English, and save from his wages
the amount necessary to pay his passage from England to America. He
could reach some of the seaports of the Continent by walking. But he
needed money to pay his passage from there to Great Britain. His
determination thus formed, he made no secret of it, and succeeded at
length in extorting a reluctant consent from his father, who was not
inclined to expect very much from the future career of his son. His
teacher, however, had more faith in him, and said to the butcher, on the
morning of the lad's departure: "I am not afraid of John Jacob; he'll
get through the world. He has a clear head, and every thing right behind
the ears."
He was seventeen years old when he left home; was stout and well built,
and had a constitution of iron. He was possessed of a good plain
education, and a remarkable degree of common sense. He had no vicious
habits or propensities, and was resolved that he would never set foot
again in his native town until he could do so as a rich man.
Ardently as he was bent on seeking his fortune in distant lands, it cost
him a struggle to go away, for he was a true German in his attachment to
his home and family. This attachment he never lost. After providing
liberally for his relatives in his will, he made a munificent donation
to his native village for the benefit of its poor children.
With his scanty wardrobe in a bundle, which he slung over his shoulder
by a stick, and a mere pittance in his purse, he set out from Waldorf,
on foot, for the Rhine. "Soon after I left the village," said he, in
after-life, "I sat down beneath a tree to rest, and there I made three
resolutions: to be honest, to be industrious, and not to gamble." He had
but two dollars in his pocket; but this was enough for his purpose. The
Rhine was not far distant from his native village, and this part of his
journey he easily accomplished on foot. Upon reaching the river, he is
said to have secured a place as oarsman on a timber raft. The timber
which is cut in the Black Forest for shipment is made up into rafts on
the Rhine, but instead of being suffered to float down the stream, as in
this country, is rowed by oarsmen, each raft having from sixty to eighty
men attached to it. As the labor is severe and attended with some risk,
the wages are high, and the lot of the oarsmen not altogether a hard
one, as they manage to have a great deal of sport among themselves. The
amount paid as wages on these voyages is about ten dollars, besides the
coarse fare furnished the men, and the time occupied is about two weeks.
Upon reaching the Dutch seaport at the mouth of the Rhine, young Astor
received his wages--the largest sum he had ever possessed--and took
passage in a vessel for London, where he was welcomed cordially by his
brother, and provided with employment in his manufactory.
He now set to work to prepare himself for his emigration to America. His
industry was unflagging. He worked literally from dawn till dark, and
practiced the most rigid economy in his expenditures. His leisure time,
which was brief, was spent in trying to master the English language, and
in acquiring information respecting America. He had anticipated great
difficulty in his efforts to learn English, but succeeded beyond his
hopes. In six weeks he could make himself understood in that language,
and some time before starting for America could speak it with ease,
though he never could at any period of his life rid himself of his
strong German accent. He was never able to write English correctly, but
after being some years in this country acquired a style which was
striking and to the point, in spite of its inaccuracy. England, however,
was not a favorable place for acquiring information respecting America.
The Colonies had exasperated the mother country by their heroic struggle
for freedom, which was just drawing to its close, and the New World was
pictured to the imagination of the young German in any thing but a
favorable light. His most accurate information was gained from those who
had returned from America, and these persons, as often as chance threw
them in his way, he questioned with eagerness and precision; their
answers were carefully stored up in his memory.
In September, 1783, the news of the peace which established the
independence of the United States was published in Europe. Young Astor
had now been in London two years, and had saved money enough to take him
to America. He was the possessor of a suit of good clothes, besides his
ordinary wearing apparel, and fifteen guineas in English money, which he
had saved from his slender earnings by the absolute denial to himself of
every thing not essential to his existence. The way to America was now
open, and he resolved to set out at once. For five guineas he bought a
steerage passage in a ship bound for Baltimore, and reserving about five
pounds sterling of the remainder of his capital in money, invested the
rest in seven German flutes, which he bought of his brother, and
embarked for the "New Land."
The winter was memorable on land and sea for its severity, and our
hero's first voyage was a stormy one. It is said that on one occasion,
when the tempest was unusually violent, and the ship in imminent danger,
he made his appearance in his Sunday clothes. In reply to those who
asked his reason for so strange an act, he said that if he should reach
land he would save his best clothes, and that if he was drowned it was
immaterial what became of them.
Although the ship sailed in November, it did not reach the Chesapeake
until near the end of January, and there, when only one day distant from
Baltimore, was caught in the ice, where it was compelled to remain until
late in March. This delay was very vexatious to the young emigrant, but
it proved in the end the greatest blessing that could have befallen him.
During the voyage Astor had made the acquaintance of one of his fellow
passengers, a German, somewhat older than himself, and, while the ship
lay fast in the ice, the two were constantly together. As a consequence
of the intimacy which thus sprung up between them, they exchanged
confidences, told each other their history, and their purpose in coming
to America. Astor learned that his friend had emigrated to the New World
a few years before, friendless and penniless, but that, beginning in a
little way, he had managed to become a fur trader. He bought his furs
from the Indians, and from the boatmen plying on the Hudson River. These
he sold at a small profit to larger dealers, until he had accumulated a
considerable sum for one in his position. Believing that he could find a
better market in Europe than in America, he had embarked all his capital
in skins, which he had taken to England and sold at a heavy advance. The
proceeds he had invested in toys and trinkets valued by the savages, and
was now on his way back with them, intending to go into the wilderness
himself and purchase an additional stock of furs from the Indians. He
recommended Astor to enter upon the same business; gave him valuable
information as to the value of peltries in America and in England; told
him the best way of buying, packing, preserving, and shipping the skins,
and gave him the names of the leading furriers in New York, Montreal,
and London. Astor was deeply impressed with the views of his friend, but
he could not see his own way clear to such a success, as he had no
capital. His friend assured him that capital was unnecessary if he was
willing to begin in an humble way. He could buy valuable furs on the
wharves of New York for toys and trinkets, and even for cakes, from the
Indians who visited the city, and these he could sell at an advance to
the New York dealers. He advised the young man, however, not to be
satisfied with the American market, but to work for a position which
would enable him to send his furs to England, where they would bring
four or five times as much as in this country. Astor carefully treasured
up all that his friend said to him, and quietly resolved that he would
lose no time in entering upon this business, which seemed to promise so
much.
The two friends traveled together from Baltimore to New York, where they
were warmly received by Aster's brother, Henry, who had succeeded in
laying the foundation of a prosperous business as a butcher, in which he
afterward made a large fortune. Both brothers were men of business
habits, and on the very first evening after the arrival of the new-comer
they began to discuss plans for his future. Astor's friend stated all
the advantages of the fur trade, and convinced Henry Astor that it was a
fine field for the energies of his brother; and it was agreed that it
would be best for the young man to seek employment in the service of
some furrier in the city, in order that he might thoroughly learn the
business, and familiarize himself with the country and its customs. To
his great delight, young Astor learned that, so far from being compelled
to pay his employer for learning him the business, as in Europe, he
would be certain here to receive his board and nominal wages from the
first. The next day the three started out, and succeeded in obtaining a
situation for the young man in the store of Mr. Robert Bowne, a Quaker,
and a merchant of long experience in the business, as well as a most
estimable man. He is said to have engaged Astor at two dollars per week
and his board.
Astor was at once set to work by his employer to beat furs, this method
of treating them being required to prevent the moths from lodging in and
destroying them. From the first he applied himself to the task of
learning the business. He bent all the powers of his remarkable mind to
acquiring an intimate knowledge of furs, and of fur-bearing animals, and
their haunts and habits. His opportunities for doing so were very good,
as many of the skins were sold over Bowne's counters by the hunters who
had taken them. These men he questioned with a minuteness that
astonished them, and the result was that in a few years he was as
thoroughly familiar with the animals, their habits, their country, and
the mode of taking them, as many of the trappers themselves. He is said
to have been in his prime the best judge of furs in America. He
appreciated the fact that no man can succeed in any business or
profession without fully understanding it, and he was too much
determined upon success to be satisfied with a superficial knowledge. He
was resolved that there should be no detail in the business, however
minute, with which he was unfamiliar, and he toiled patiently to acquire
information which most salesmen in his place would have esteemed
trivial. Nothing was trivial with him, however, and it is remarkable
that he never embarked in any scheme until he had mastered its most
trifling details. Few men have ever shown a deeper and more far-reaching
knowledge of their profession and the issues involved in it than he. He
fully understood that his knowledge would give him a power which a man
of less information could not obtain, and he never failed to use that
knowledge as a power. His instructions to his subordinates were always
drawn up with the strictest regard to details, and show not only how
thoroughly he had mastered the subject before him, but also how much
importance he attached to the conscientious fulfillment of a
well-digested plan of operations. He recognized no such thing as luck.
Every thing with him was the result of a deliberate plan based upon
knowledge. In this respect his career affords one of the best models to
be found in our history.
[Illustration: ASTOR'S FIRST TRIP FOR FURS.]
Astor's employer was not insensible to his merits, and soon promoted him
to a better place. In a little while the latter intrusted him with the
buying of the furs from the men who brought them to the store, and he
gave such satisfaction to his employer that he was rewarded with a still
more confidential post. Montreal was at that time the chief fur depot of
the country, and it was the custom of Mr. Bowne to make an annual
journey to that city for the purpose of replenishing his stock. The
journey was long and fatiguing, and as soon as the old gentleman found
that he could intrust the mission to his clerk, he sent him in his
place. Ascending the Hudson to Albany, Astor, with a pack on his back,
struck out across the country, which was then almost unsettled, to Lake
George, up which he passed into Lake Champlain. Sailing to the head of
the lake, he made his way to Montreal. Then returning in the same way,
he employed Indians to transport his furs from Lake George to Albany,
and dropped down the Hudson in the way he had come. Mr. Bowne was
delighted with the success of his clerk, who proved more than a match
for the shrewd Indians in his bargains. It was doubtless here that Mr.
Astor obtained that facility in "driving a hard bargain" for which he
was afterwards noted.
As soon as Mr. Astor felt himself master of his business, he left the
employ of Mr. Bowne, and began life on his own account. The field upon
which he purposed entering was extensive, but it was one of which he had
made a careful survey. Previous to the peace of 1763, the French and
English divided the control of the fur-bearing regions of America. The
British possessions, extending from Canada to the unexplored regions of
the North, had been granted by a charter of Charles II. to Prince
Rupert, and were, by virtue of that instrument, under the exclusive
control of the Hudson Bay Company. Large quantities of furs were
obtained in this region, and collected at the principal settlement, York
Factory, from which they were shipped to England.
South of this region was Canada, then possessed by the French, who
carried on an extensive trade with the Indians, who brought their furs
down to Montreal in their birch canoes. The French finally settled in
the country of the savages, and married among the natives,
thenceforward entirely devoting themselves to the life of the trapper
and hunter. These marriages produced a race of half-breeds who were
especially successful in securing furs. The cession of Canada to England
was a severe blow to the French traders, as it opened the country to the
enterprise of the English, a few of whom were quick to avail themselves
of its advantages. The French and Indians at first regarded them with
hostility, but gradually became reconciled to their presence.
Under the French rule the savages had not been furnished with liquors,
but the English soon sold whisky and rum in great quantities to them,
receiving the best furs in return. As a consequence, intemperance spread
rapidly among the savages, and threatened to put an end to their
industry as gatherers of furs. To check the evil results of this
irregular trading, a company was established in 1785, called the
North-west Company. It was managed by twelve partners, some of whom
resided at Montreal, and others at the trading posts in the interior.
Their chief station was at Fort William, on Lake Superior. Here, at
stated times, the agents would come up from Montreal and hold a
consultation for the purchase of furs. These meetings always drew crowds
of French and Indian trappers, boatmen, and others, who brought in large
quantities of skins.
A few years later a third company was organized, with its principal
station at Michilimackinac, near Lake Huron. It was called the Mackinaw
Company, and its field of operations was the country bordering Lake
Superior, and that lying between the Mississippi and the Rocky
Mountains. The company was English, but did not hesitate to operate in
American territory, so little regard did Great Britain pay to the rights
of the infant republic.
"Although peace had been concluded, the frontier forts had not been
given up. Oswego, Niagara, Detroit, Michilimackinac, and other posts
were still in the hands of the English. The Indian tribes continued
hostile, being under English influence. No company had as yet been
formed in the United States. Several French houses at St. Louis traded
with the Indians, but it was not until 1807 that an association of
twelve partners, with a capital of forty thousand dollars, was formed at
St. Louis, under the name of the Missouri Company.
"The trade, it will thus be seen, was almost wholly in the hands of the
English companies--the Hudson's Bay Company in the north, the North-west
Company in the Canadas, the Mackinaw Company in the territories of the
United States--and the few American traders in the field had to rely on
their individual resources, with no aid from a Government too feeble in
its infancy to do more than establish a few Indian agencies, and without
constitutional power to confer charter privileges."
The voyage of Captain Cook had brought to the notice of the fur dealers
of the world the sea otter of the northern Pacific, and the announcement
made upon the return of the expedition drew large numbers of adventurers
to the west coast of America, in search of the valuable skins of these
animals. In 1792, there were twenty-one vessels, principally American,
on the coast.
It was into this field, already occupied by powerful and hostile
corporations, that the young German entered. He was perfectly aware of
the opposition his efforts would encounter from them, but he was not
dismayed. He began business in 1786, in a small store in Water Street,
which he furnished with a few toys and notions suited to the tastes of
the Indians who had skins to sell. His entire capital consisted of only
a few hundred dollars, a portion of which was loaned him by his
brother. He had no assistants. He did all his own work. He bought his
skins, cured, beat, and sold them himself.
Several times during the year he made journeys on foot through western
New York, buying skins from the settlers, farmers, trappers, savages,
wherever he could find them. He tramped over nearly the entire State in
this way, and is said to have had a better knowledge of its geography
and topography than any man living.
"He used to boast, late in life, when the Erie Canal had called into
being a line of thriving towns through the center of the State, that he
had himself, in his numberless tramps, designated the sites of those
towns, and predicted that one day they would be the centers of business
and population. Particularly he noted the spots where Rochester and
Buffalo now stand, one having a harbor on Lake Erie and the other upon
Lake Ontario. He predicted that those places would one day be large and
prosperous cities; and that prediction he made when there was scarcely a
settlement at Buffalo, and only wigwams on the site of Rochester."
During these tramps his business in the city was managed by a partner,
with whom he was finally compelled to associate himself.
As soon as he had collected a certain number of bales of skins he
shipped them to London, and took a steerage passage in the vessel which
conveyed them. He sold his skins in that city at a fine profit, and
succeeded in forming business connections which enabled him afterward to
ship his goods direct to London, and draw regularly upon the houses to
which they were consigned. He also made an arrangement with the house of
Astor & Broadwood, in which his brother was a partner, by which he
became the agent in New York for the sale of their musical instruments,
a branch of his business which became quite profitable to him. He is
said to have been the first man in New York who kept a regular stock of
musical instruments on hand.
Slowly, and by unremitting industry, Mr. Astor succeeded in building up
a certain business. His personal journeys made him acquainted with the
trappers, and enabled him to win their good will. The savages sold their
skins to him readily, and he found a steady market and a growing demand
for his commodities in the Old World.
It was about this time that he married Miss Sarah Todd, of New York. She
was a connection of the Brevoort family, and was of better social
position than her husband. She entered heartily into his business, doing
much of the buying and beating of the furs herself. She was a true
helpmate to him, and long after he was a millionaire, he used to boast
of her skill in judging furs and conducting business operations.
In 1794, Jay's treaty placed the frontier forts in the hands of the
Americans, and thus increased the opportunities of our own traders to
extend their business. It was of the greatest service to Mr. Astor. It
enabled him to enlarge the field of his operations, and, at the same
time, to send his agents on the long journeys which he formerly made,
while he himself remained in New York to direct his business; which by
this time had grown to considerable proportions.
He was now on the road to wealth. He had scores of trappers and hunters
working for him in the great wilderness, and his agents were kept busy
buying and shipping the skins to New York. As soon as he was able to do
so he purchased a ship, in which he sent his furs to London,
occasionally making a voyage thither himself. He manifested the greatest
interest in the markets of the Old World, especially in those of Asia,
and informed himself so accurately concerning them that he was always
enabled to furnish his captains with instructions covering the most
minute detail of their transactions in those markets; and it is said
that he was never unsuccessful in his ventures there, except when his
instructions were disobeyed.
In this again, as in the fur trade, we see him patiently acquiring
knowledge of the eastern trade before venturing to engage in it. His
first step was always to fully comprehend his task, to examine it from
every possible point of view, so that he should be prepared to encounter
any sudden reverse, or ready to take advantage of good fortune. Here lay
the secret of his success--that he never embarked in an enterprise until
he had learned how to use it to advantage.
Under his skillful management his business grew rapidly; but he avoided
speculation, and confined himself to legitimate commerce. He was plain
and simple in his habits, carrying this trait to an extreme long after
economy had ceased to be necessary to him. He worked hard, indulged in
no pleasures except horseback exercise and the theater, of both which he
was very fond. It was only after he had amassed a large fortune that he
ever left his business before the close of the day. Then he would leave
his counting-room at two in the afternoon, and, partaking of an early
dinner, would pass the rest of the day in riding about the island. So
plain was his style of living that, before he became generally known as
a wealthy man, a bank clerk once superciliously informed him that his
indorsement of a note would not be sufficient, as it was not likely he
would be able to pay it in case the bank should be forced to call upon
him.
"Indeed," said Mr. Astor, "how much do you suppose I am worth?"
The clerk named a moderate amount, at which the merchant smiled
quietly.
"Would the indorsement of Mr. ----, or Mr. ----, be sufficient?" asked
Mr. Astor, naming several well-known merchants who lived in great style.
"Entirely sufficient," was the reply. "Each one of them is known to be
wealthy."
"How much do you think each is worth?"
The clerk named large sums in connection with each of the gentlemen.
"Well, my friend," said the merchant, "I am worth more than any of them.
I will not tell you how much I am worth, but it is more than any sum you
have named."
The clerk looked at him in surprise, and then said, bluntly, "Then you
are a greater fool than I took you for, to work as hard as you do."
Mr. Astor was very fond of telling this story, which he regarded as one
of the best jokes of the day.
All this time Mr. Astor had lived over his store, but in 1800, after he
had been in business fifteen years, he moved his dwelling to 223
Broadway, on the site of the Astor House of to-day. He lived here, with
one removal, for upwards of twenty-five years. The house was plain and
simple, but he was satisfied with it. He was now worth a quarter of a
million dollars, and his business was growing rapidly. The fur trade was
exceedingly profitable. A beaver skin could be bought from the trappers
in western New York for one dollar and sold in London for six dollars
and a quarter. By investing this amount in English manufactures, the six
dollars and a quarter received for the skin could be made to produce ten
dollars paid for the English goods in New York.
The Chinese trade was also very profitable. China was an excellent
market for furs. They brought high prices, and the proceeds could always
be invested in teas and silks, which sold well in New York. His profit
on a voyage would sometimes reach seventy thousand dollars, and the
average gain on a lucky venture of this kind was thirty thousand
dollars. The high prices produced by the war of 1812-15 were also in Mr.
Astor's favor. His ships were all remarkably lucky in escaping capture
by the enemy, and he was almost the only merchant who had a cargo of tea
in the market. Tea having reached double its usual price, he was enabled
to reap immense profits from his ventures.
Mr. Francis, in his _Old Merchants of New York_, makes the following
revelation of the manner in which Mr. Astor found it possible to carry
on such an immense business. He says:
"A house that could raise money enough, thirty years ago, to send
$260,000 in specie, could soon have an uncommon capital; and this was
the working of the old system. The Griswolds owned the ship Panama. They
started her from New York in the month of May, with a cargo of perhaps
$30,000 worth of ginseng, spelter, lead, iron, etc., and $170,000 in
Spanish dollars. The ship goes on the voyage, reaches Whampoa in safety
(a few miles below Canton). Her supercargo, in two months, has her
loaded with tea, some chinaware, a great deal of cassia, or false
cinnamon, and a few other articles. Suppose the cargo mainly tea,
costing about thirty-seven cents (at that time) per pound on the
average.
"The duty was enormous in those days. It was twice the cost of the tea,
at least; so that a cargo of $200,000, when it had paid duty of
seventy-five cents per pound (which would be $400,000), amounted to
$600,000. The profit was at least fifty per cent, on the original cost,
or $100,000, and would make the cargo worth $700,000.
"The cargo of teas would be sold almost on arrival (say eleven or
twelve months after the ship left New York in May), to wholesale
grocers, for their notes at four and six months--say for $700,000. In
those years there was _credit given by the United States_ of nine,
twelve, and eighteen months! So that the East India or Canton merchant,
after his ship had made one voyage, had the use of Government capital to
the extent of $400,000, on the ordinary cargo of a China ship.
"No sooner had the ship Panama arrived (or any of the regular East
Indiamen), than her cargo would be exchanged for grocers' notes for
$700,000. These notes could be turned into specie very easily, and the
owner had only to pay his bonds for duty at nine, twelve, and eighteen
months, giving him time actually to send two more ships, with $200,000
each, to Canton, and have them back again in New York before the bonds
on the first cargo were due.
"John Jacob Astor, at one period of his life, had several vessels
operating in this way. They would go to the Pacific, and carry furs from
thence to Canton. These would be sold at large profits. Then the cargoes
of tea to New York would pay enormous duties, which Astor did not have
to pay to the United States for a year and a half. His tea cargoes would
be sold for good four and six months paper, or perhaps cash; so that,
for eighteen or twenty years, John Jacob Astor had what was actually a
free-of-interest loan from Government of over _five millions_ of
dollars."
It is estimated that Mr. Astor made about two millions of dollars by his
trade in furs and teas. The bulk of his immense fortune was made by
investments in real estate. His estate was estimated at twenty millions
of dollars at the time of his death, and has now increased to over forty
millions. He had a firm faith in the magnificent future of New York as
the greatest city of the continent, and as fast as his gains from his
business came in, they were regularly invested in real estate. A part
was expended in leasing for a long period property which the owners
would not sell, and the rest in buying property in fee simple. These
leases, some of which have but recently expired, were extremely
profitable. In his purchases of land Mr. Astor was very fortunate. He
pursued a regular system in making them. Whenever a favorable purchase
could be made in the heart of the city, he availed himself of the
opportunity, but as a rule he bought his lands in what was then the
suburb of the city, and which few besides himself expected to see built
up during their lifetime. His sagacity and foresight have been more than
justified by the course of events. His estate now lies principally in
the heart of New York, and has yielded an increase greater even than he
had ventured to hope for. Seventy hundred and twenty houses are said to
figure on the rent roll of the Astor estate at present, and besides
these are a number of lots not yet built upon, but which are every day
increasing in value. "When Mr. Astor bought Richmond Hill, the estate of
Aaron Burr, he gave one thousand dollars an acre for the hundred and
sixty acres. Twelve years later, the land was valued at fifteen hundred
dollars per lot."
In 1810, he sold a lot near Wall Street for eight thousand dollars. The
price was so low that a purchaser for cash was found at once, and this
gentleman, after the sale, expressed his surprise that Mr. Astor should
ask only eight thousand for a lot which in a few years would sell for
twelve thousand.
"That is true," said Mr. Astor, "but see what I intend doing with these
eight thousand dollars. I shall buy eighty lots above Canal Street, and
by the time your one lot is worth twelve thousand dollars, my eighty
lots will be worth eighty thousand dollars."
His expectations were realized.
During the war of the Revolution, Roger Morris and his wife, Mary, of
Putnam County, were obliged to flee from the country to England for
adhering to the cause of King George, and, being attainted by the
authorities as public enemies, their immense estate, consisting of
fifty-one thousand one hundred and two acres, was seized by the State of
New York, and sold in small parcels to farmers, who believed the title
thus acquired valid. In 1809, there were upwards of seven hundred
families residing on this land. Mr. Astor, having learned that Roger and
Mary Morris possessed only a life interest in their property, and having
ascertained to his satisfaction that the State could not confiscate the
rights of the heirs, purchased their claim, which was good not only for
the land, but for all the improvements that had been put upon it. He
paid twenty thousand pounds sterling for it. A few years previous to the
death of Mrs. Morris, who survived her husband some years, Mr. Astor
presented his claim. The occupants of the land were thunderstruck, but
the right was on his side. The State of New York had simply robbed the
heirs of their rights. There was no weak point in the claim. Having
given defective titles to the farmers, the State was of course
responsible for the claim; and upon finding out their mistake, the
authorities asked Mr. Astor to name the sum for which he would be
willing to compromise. The lands were valued at six hundred and
sixty-seven thousand dollars, but Mr. Astor expressed his willingness to
sell for three hundred thousand dollars. His offer was refused. In 1819,
a second proposition was made to Mr. Astor by the Legislature of the
State. He replied: "In 1813 or 1814 a similar proposition was made to me
by the commissioners then appointed by the Honorable the Legislature of
this State when I offered to compromise for the sum of three hundred
thousand dollars, which, considering the value of the property in
question, was thought very reasonable, and, at the present period, when
the life of Mrs. Morris is, according to calculation, worth little or
nothing, she being near eighty-six years of age, and the property more
valuable than it was in 1813. I am still willing to receive the amount
which I then stated, with interest on the same, payable in money or
stock, bearing an interest of -- per cent., payable quarterly. The stock
may be made payable at such periods as the Honorable the Legislature may
deem proper. This offer will, I trust, be considered as liberal, and as
a proof of my willingness to compromise on terms which are reasonable,
considering the value of the property, the price which it cost me, and
the inconvenience of having so long _lain out_ of my money, which, if
employed in commercial operations, would most likely have produced
better profits."
This offer was not accepted by the Legislature, and the cause was
delayed until 1827, when it was brought before the courts. It was argued
by such men as Daniel Webster and Martin Van Buren, on the part of the
State, and by Thomas Addis Emmett, Ogden, and others for Astor. The
State had no case, and the matter was decided in Astor's favor. Then the
State consented to compromise. The famous Astor stock, which paid that
gentleman about five hundred thousand dollars, was issued, and the
titles of the possessors of the lands confirmed.
The most important of all of Mr. Astor's undertakings was his effort at
founding the settlement of Astoria, on the coast of Oregon. This
enterprise has been made so familiar to the majority of readers by the
pen of Washington Irving, that I can only refer to it here. "His
design," says a writer of thirteen years ago, "was to organize and
control the fur trade from the lakes to the Pacific, by establishing
trading posts along the Missouri and Columbia to its mouth. He designed
establishing a central depot and post at the mouth of the Columbia. He
proposed sending regular supply-ships to the Pacific posts around the
Horn. By these, stores were to be sent also to the Russian
establishments. It was part of his plan, if possible, to obtain
possession of one of the Sandwich Islands as a station, for from the
Pacific coast he knew that the Chinese market for his peltries could be
most conveniently reached, and thus the necessity for a long and
circuitous voyage be avoided. Instead of bringing the furs intended for
China to New York, they could be sent from the Pacific. By the
supply-ships, too, the stock of goods suitable for the Indian trade
would be kept up there, and the cargoes purchased with the proceeds of
the furs sold in China brought back to New York. The line of posts
across the continent would become a line of towns; emigration would
follow, and civilization would belt the continent.
"In this grand scheme, Mr. Astor was only anticipating the course of
events which, fifty years later, we are beginning to witness. When he
laid his plans before the Government, Mr. Jefferson, who was then
President, 'considered as a great acquisition,' as he afterward
expressed himself in a letter to Mr. Astor, 'the commencement of a
settlement on the western coast of America, and looked forward with
gratification to the time when its descendants should have spread
themselves through the whole length of that coast, covering it with free
and independent Americans, unconnected with us except by ties of blood
and interest, and enjoying, like us, the rights of self-government.'
Even Jefferson's mind, wide as it was, could not take in the idea of a
national unity embracing both ends of the continent; but not so thought
Astor. The merchant saw farther than the statesman. It was precisely
this political unity which gave him hope and chance of success in his
worldwide schemes. When the Constitution was adopted, the chief source
of apprehension for its permanence with men like Patrick Henry, and
other wise statesmen, was the extent of our territory. The Alleghanies,
it was thought, had put asunder communities whom no paper constitution
could unite. But at that early day, when Ohio was the far West, and no
steamboat had yet gone up the Mississippi, Astor looked beyond the Ohio,
beyond the Mississippi, and the Rocky Mountains, and saw the whole
American territory, from ocean to ocean, the domain of one united
nation, the seat of trade and industry. He saw lines of trading posts
uniting the Western settlements with the Pacific; following this line of
trading posts, he saw the columns of a peaceful emigration crossing the
plains, crossing the mountains, descending the Columbia, and towns and
villages taking the places of the solitary posts, and cultivated fields
instead of the hunting-grounds of the Indian and the trapper.
"No enterprise, unless it be the Atlantic telegraph, engages more deeply
the public attention than a railroad communication with the Pacific
coast.[A] The rapid settlement of Oregon and California, the constant
communication by steam to the Pacific coast, render it easy now to feel
the nearness of that region, and the oneness of the nationality which
covers the continent. But to Astor's eye the thing was as palpable then
as now. And yet but two or three attempts had then been made to explore
the overland routes."
It would be deeply interesting to examine the details of this fast
scheme of colonization and trade, for it is certain that Mr. Astor was
as anxious to do an act which, by building up the continent, should hand
his name down to posterity as a national benefactor, as to increase his
business; but the limits of this article forbid more than a mere glance
at the subject.
[Footnote A: The reader will bear in mind that the above extract was
written in 1857.]
A company was formed, at the head of which stood Mr. Astor, and an
elaborate and carefully-arranged plan of operations prepared. Two
expeditions were dispatched to the mouth of the Columbia, one by land
and the other by sea. Many hardships were encountered, but the
foundation of a settlement was successfully made on the Columbia. In
spite of the war with England (1812-15), which now occurred, the
enterprise would have been successful had Mr. Astor's positive
instructions been obeyed. They were utterly disregarded, however, and
his partners and agents not only betrayed him in every instance, but
sold his property to a rival British company for a mere trifle. His
pecuniary loss was over a million of dollars, and his disappointment
bitter beyond expression. When the enterprise was on the point of
failure, and while he was still chafing at the conduct of his
treacherous subordinates, he wrote to Mr. Hunt, the most faithful of all
his agents: "Were I on the spot, and, had the management of affairs, I
would defy them all; but as it is, every thing depends on you and your
friends about you. Our enterprise is grand, and deserves success, and I
hope in God it will meet it. _If my object was merely gain of money_, I
should say, think whether it is best to save what we can, and abandon
the place; but the very idea is like a dagger to my heart." When the
news of the final betrayal reached him, he wrote to the same gentleman:
"Had our place and property been fairly captured, I should have
preferred it; I should not feel as if I were disgraced."
Mr. Astor remained in active business for fifty years. During that
entire period he scarcely committed an error of judgment which led to a
loss in business. He was thorough master of every thing pertaining to
his affairs, and his strength and accuracy of judgment was remarkable.
The particulars of his transactions were indelibly impressed upon his
mind. His intellect was vigorous and quick, and he grasped a subject
with a readiness which seemed like intuition. He was always careful of
the present, but he loved to undertake enterprises which extended far
into the future. He was a man of the utmost punctuality in all his
habits. He rose early, and, until he was fifty-five years old, was
always in his office before seven o'clock. His capacity for work was
very great, so that, in spite of his heavy labors, he was always able to
leave his office by two o'clock, while many of his associates, who
really did less than he, were compelled to remain in their
counting-rooms until four or five. He was noted for his unvarying
calmness, which he doubtless owed to his German temperament. In the
midst of disaster and loss he was cooler and more cheerful than ever. To
those who chafed at their troubles, he would say, smilingly, "Keep
quiet; keep cool." This was his safeguard.
He was a devoted citizen of the United States, and, though he took no
active interest in politics, was a steady supporter of the Whig party.
Henry Clay was his personal friend, and his last donation to any
political cause was a subscription of fifteen hundred dollars to aid the
election of his old friend to the Presidency.
About the year 1830, Mr. Astor, now the possessor of millions, began to
withdraw from active business, confining his efforts chiefly to such
investments as the management of his immense estate made necessary. He
now put into execution an enterprise which he had long cherished. When a
poor stranger in the city, he had once stopped in Broadway to notice a
row of buildings which had just been erected, and which were considered
the finest in the street, and had then made a vow that he would one day
build a larger and finer house than any in Broadway. He now set to work
to carry out the plan he had cherished ever since. He owned the entire
block on Broadway, between Vesey and Barclay streets, with the
exception of one house, which was the property of a Mr. Coster, a
merchant who had amassed a large fortune and retired from business. Mr.
Astor made him many offers for his house, but the old gentleman was
unwilling to remove. Mr. Astor offered him the full value of his house,
which was thirty thousand dollars, and increased the bid to forty
thousand, but Mr. Coster was obstinate. At length Mr. Astor, in despair,
was compelled to reveal his plan to his neighbor.
"I want to build a hotel," said he. "I have got all the other lots. Now
name your own price."
Mr. Coster replied that he would sell for sixty thousand dollars if his
wife would consent, and that Mr. Astor could see her the next morning.
Mr. Astor was punctual to the appointment, and his offer was accepted by
the good lady, who said to him, condescendingly, "I don't want to sell
the house, but we are such old friends that I am willing for your sake."
Mr. Astor used to remark with great glee that any one could afford to
exhibit such condescension after receiving double the value of a piece
of property.
Having got possession of the entire block, he commenced the demolition
of the old buildings, and on their site reared the Astor House, then the
largest and most elegant hotel in the country. This building, when
completed, he gave to his eldest son, William B. Astor.
In 1832, Mr. Astor sailed for Europe to visit one of his daughters, who
had married a nobleman, and remained abroad until 1835. In that year he
was compelled to return home by the action of General Jackson with
regard to the Bank of the United States. "He reached Havre," says Mr.
Parton, "when the ship, on the point of sailing, had every stateroom
engaged, but he was so anxious to get home, that the captain, who had
commanded ships for him in former years, gave up to him his own
stateroom. Head winds and boisterous seas kept the vessel beating about
and tossing in the channel for many days. The great man was very sick,
and still more alarmed. At length, being persuaded that he should not
survive the voyage, he asked the captain to run in and set him ashore on
the coast of England. The captain dissuaded him. The old man urged his
request at every opportunity, and said, at last, 'I give you tousand
dollars to put me aboard a pilot boat.' He was so vehement and
importunate, that one day the captain, worried out of all patience,
promised him that if he did not get out of the channel before next
morning, he would run in and put him ashore. It happened that the wind
changed in the afternoon and wafted the ship into the broad ocean. But
the troubles of the sea-sick millionaire had only just begun. A heavy
gale of some days' duration blew the vessel along the western coast of
Ireland. Mr. Astor, now thoroughly panic-stricken, offered the captain
ten thousand dollars if he would put him ashore anywhere on the wild and
rocky coast of the Emerald Isle. In vain the captain remonstrated. In
vain he reminded the old gentleman of the danger of forfeiting his
insurance.
"'Insurance!' exclaimed Astor, 'can't I insure your ship my self?'
"In vain the captain mentioned the rights of the other passengers. In
vain he described the solitary and rock-bound coast, and detailed the
dangers and difficulties which attended its approach. Nothing would
appease him. He said he would take all the responsibility, brave all the
perils, endure all the consequences, only let him once more feel the
firm ground under his feet. The gale having abated, the captain yielded
to his entreaties, and engaged, if the other passengers would consent to
the delay, to stand in, and put him ashore. Mr. Astor went into the
cabin, and proceeded to write what was expected to be a draft for ten
thousand dollars in favor of the owners of the ship on his agent in New
York. He handed to the captain the result of his efforts. It was a paper
covered with writing that was totally illegible.
"'What is this?' asked the captain.
"'A draft upon my son for ten thousand dollars,' was the reply.
"'But no one can read it.'
"'O yes, my son will know what it is. My hand trembles so that I can not
write any better.'
"'But,' said the captain, 'you can at least write your name. I am acting
for the owners of the ship, and I can not risk their property for a
piece of paper that no one can read. Let one of the gentlemen draw up a
draft in proper form; you sign it, and I will put you ashore.'
"The old gentleman would not consent to this mode of proceeding, and the
affair was dropped."
During the last twenty years of his life Mr. Astor lived in the
retirement of his family, leaving even the greater part of the
management of his estate to the hands of others. He was exceedingly fond
of literary men. Irving was his friend, and Halleck his business
manager. He died at the age of eighty-four years and eight months,
literally from old age. He was buried in St. Thomas's Church, on
Broadway.
His immense estate was left to his children, the bulk of it being
bequeathed to his eldest son. All of his relatives were made
comfortable. The village of Waldorf, his native place, received a legacy
of fifty thousand dollars for the benefit of its poor, and an amount in
land and funds equal to four hundred thousand dollars was left to
certain trustees to establish the Astor Library in the city of New York.
Besides these, several charitable and benevolent associations received
handsome donations from him.
His career has been related in these pages as an example to those who
are seeking to rise in legitimate commerce. It is the Best instance on
record of the facility with which success may be won by patient and
intelligent industry. In his capacity for grasping and carrying out an
enterprise, in his prudent and economical management of his business,
in his tact, courage, sagacity, Mr. Astor's example is one which will
lead many to success, and none to injury.
He was a thoroughly upright man, his transactions were rigidly honest;
but as a man, candor compels the acknowledgment that he was not a safe
or admirable model. He was utterly devoid of generosity. Liberal to an
extreme with his own family, he was close and hard with others. He paid
small wages to his employes and never gave more than the man bargained
for, no matter what extra service might be rendered. He carried his
economy to a degree of meanness painful to contemplate. At his death,
out of his vast estate, he left to his friend and faithful manager an
annuity of only two hundred dollars, which his son increased to fifteen
hundred.
One of his captains once succeeded in saving for him property in China
to the amount of seven hundred thousand dollars, which had become
jeopardized by the sudden death of the agent in charge of it. This
service was purely voluntary, and was one which required the greatest
skill, determination, and courage on the part of the captain, and Astor
acknowledged it, frequently saying: "If you had not done just as you
did, I should never have seen one dollar of my money; no, not one dollar
of it." This was the only acknowledgment he made, however. He was worth
ten millions of dollars, and the captain had only his pay--twelve
hundred dollars a year--and a family. At his father's death Mr. William
B. Astor sent a considerable sum to the old seaman in return for this
service.
"We have all heard much of the closeness, or rather the meanness, of
this remarkable man. Truth compels us to admit that he was not generous,
except to his own kindred. His liberality began and ended in his own
family. Very seldom during his lifetime did he willingly do a generous
act, outside of the little circle of his relations and descendants. To
get all he could, and to keep nearly all that he got--those were the
laws of his being.... He enjoyed keenly the consciousness, the feeling,
of being rich. The roll-book of his possessions was his Bible. He
scanned it fondly, and saw, with quiet but deep delight, the catalogue
of his property lengthening from month to month. The love of
accumulation grew with his years, until it ruled him like a tyrant. If
at fifty he possessed his millions, at sixty-five his millions possessed
him. Only to his own children and to their children was he liberal; and
his liberality to them was all arranged with a view to keeping his
estate in the family, and to cause it at every moment to tend toward a
final consolidation in one enormous mass."
This is the estimate of his character formed by Mr. James Parton. His
friend Dr. Coggswell presents him in quite a different light. He says:
"Mr. Astor lived to the good old age of four score and four years and
eight months. For some years previous to his death, which happened March
29, 1848, his manly form was bowed down by age, and his bodily strength
greatly enfeebled, but his mind retained much of its original Vigor and
brightness. Considering his extraordinary activity until a late period
of his life, he submitted to the helplessness of age with uncommon
resignation. When his impaired eye-sight no longer permitted him to
read, his principal relief from the wearisomeness of unoccupied time was
in the society of his friends and near relatives. All who knew him well
were strongly attached to him, and none but those who were ignorant of
his true character believed him unamiable and repulsive.
"His smile was peculiarly benignant and expressive of genuine kindness
of heart, and his whole manner cordial and courteous to every one
entitled to his respect. There was something so impressive in his
appearance, no one could stand before him without feeling that he was in
the presence of a superior intelligence. His deep, sunken eye, beneath
his overarched brow, denoted the prophetic--it might almost be said the
inspired--mind within. Although he lived many years beyond the age when
the grasshopper is a burden, and was the victim of much suffering, he
did not murmur, nor did he become unreasonable and peevish. He was not
wont to talk much on the subject of religion, or freely communicate his
views in relation to the life beyond the grave; but it can not be
doubted that such tranquility as he exhibited in his near approach to
it must have been derived from 'that peace which the world can neither
give nor take away,'"
Perhaps a medium between Mr. Parton's bitterness and Dr. Coggswell's
enthusiasm will be as correct an estimate of his personal character as
can be formed. It is a singular fact that Mr. Astor managed, in spite of
the closeness which marked his operations, in spite of the small wages
he paid, to inspire his employes with a zeal in his service that made
them willing to undertake any thing, to endure any amount of labor, for
him.
"He once lost seventy thousand dollars by committing a piece of petty
injustice toward his best captain. This gallant sailor, being notified
by an insurance office of the necessity of having a chronometer on
board his ship, spoke to Mr. Astor on the subject, who advised the
captain to buy one.
"'But,' said the captain, 'I have no five hundred dollars to spare for
such a purpose; the chronometer should belong to the ship.'
"'Well,' said the merchant, 'you need not pay for it now; pay for it at
your convenience,'
"The captain still objecting, Astor, after a prolonged higgling,
authorized him to buy a chronometer and charge it to the ship's account,
which was done.
"Sailing day was at hand. The ship was hauled into the stream. The
captain, as is the custom, handed in his account. Astor, subjecting it
to his usual close scrutiny, observed the novel item of five hundred
dollars for the chronometer. He objected, averring that it was
understood between them that the captain was to pay for the instrument.
The worthy sailor recalled the conversation, and firmly held to his
recollection of it. Astor insisting on his own view of the matter, the
captain was so profoundly disgusted that, important as the command of
the ship was to him, he resigned his post. Another captain was soon
found, and the ship sailed for China.
"Another house, which was then engaged in the China trade, knowing the
worth of this 'king of captains,' as Astor himself used to style him,
bought him a ship and dispatched him to Canton two months after the
departure of Astor's vessel. Our captain, put upon his mettle, employed
all his skill to accelerate the speed of his ship, and had such success
that he reached New York, with a full cargo of tea, just seven days
after the arrival of Mr. Astor's ship. Astor, not expecting another ship
for months, and therefore sure of monopolizing the market, had not yet
broken bulk, nor even taken off the hatchways. Our captain arrived on a
Saturday. Advertisements and handbills were immediately issued, and on
the Wednesday morning following, as the custom then was, the auction
sale of the tea began on the wharf--two barrels of punch contributing to
the _eclat_ and hilarity of the occasion. The cargo was sold to good
advantage, and the market was glutted. Astor lost in consequence the
entire profits of the voyage, not less than the sum previously named.
Meeting the captain some time after in Broadway, he said:
"'I had better have paid for that chronometer of yours,'"
Yet he could do a kind act when he was in the humor. When he was poor
and struggling for fortune, he had a friend in the city named Pell, a
coachmaker. As he advanced in the world he lost sight of his friend. One
day a young man called on him to ask if he would sell one of his leases
which he (the visitor) then held. He replied promptly and decidedly that
he would not sell.
"But what is your name?" he asked.
"It is Pell," was the reply.
"Pell--Pell--" said the old man, hesitating a moment, "I knew a man by
that name once; he was a dear friend of mine, but I have not seen him
for years."
"That man," said the visitor, "was my father."
"Indeed," exclaimed the old man, warmly; "your father? Why, he used to
give me rides in his coaches. How I should like to see him."
Then pausing a moment, and smiling as he recalled the past to his mind,
he said:
"You shall have the lease, young man. Go home, have the papers drawn,
come here at eleven o'clock on Thursday, and I'll sign them. But don't
put in any consideration."
The engagement was kept punctually by both parties.
"Have you got the papers?" asked the merchant. "Did you put in the
consideration? Well, let it be one hundred dollars. Have you got the
money about you? Well, no matter, Bruce will keep the lease till you
come and pay. I've given you two thousand dollars, young man. Don't you
buy any more, for I sha'n't do it again. You tell your father that I
remember him, and that I have given you two thousand dollars."
Mr. Astor dearly liked a joke, and occasionally indulged in a sly bit of
humor himself. On one occasion a committee called upon him to solicit a
donation for some charitable object. The old man took the subscription
list, and, after examining it, signed it and gave the committee a check
for fifty dollars. They had expected much more, and one of them ventured
to say:
"We did hope for more, Mr. Astor. Your son gave us a hundred dollars."
"Ah!" replied the old man, dryly, "William has a rich father. Mine was
very poor."
CHAPTER III.
ALEXANDER T. STEWART.
In the year 1818, a European vessel anchored in the harbor of New York,
after a long and weary voyage from the Old World. She brought many
passengers to the young metropolis, the majority of whom came with the
intention of seeking fortunes in this land of promise.
Among them was a young Irishman who had left his home in his native land
to seek in America the means of bettering his condition. This was
ALEXANDER T. STEWART. He was the son of Scotch-Irish parents, and was
born in Belfast in 1802. Being only three years old when his father
died, his grandfather took charge of him, and proved a kind and
judicious guardian. As he was designed for the ministry by his relative,
and as his own tastes inclined him to that profession, he was given a
good common school education, and placed at college, where he made
favorable progress in his class. He was particularly successful in the
classics, and is said to retain his relish for them at the present day.
During his second term his grandfather died, and he was by this event
obliged to leave college. Abandoning the idea of entering the ministry,
he embarked for America, determined to make a fortune in the New World.
He came sufficiently supplied with ready money to insure him against
immediate want, and with letters of introduction which at once secured
him an excellent social position.
After trying in vain for some time to secure employment in a business
house, he obtained a position as assistant in a commercial school. This
he soon resigned for a similar place in a more celebrated school. His
salary here was $300, which was considered ample compensation in those
days.
Not wishing to continue in this career, however, he opened a small
retail dry goods store in New York, and began business on a humble
scale. Here he remained until the age of twenty-one, manifesting no
extraordinary business capacity, and in no way distinguished from the
many small dealers around him. Upon reaching his majority he returned to
Ireland, to look after the inheritance left him by his grandfather. The
amount which thus came to him was nearly one thousand pounds, and the
greater part of this he invested in "insertions" and "scollop
trimmings," which he shipped to America by the vessel in which he
returned. He rented a little store, on his return, at 283 Broadway, and
there displayed his stock, which met with a ready sale at a fair profit.
Without mercantile experience, and possessing little advantage, save his
own Scotch-Irish energy and courage, Mr. Stewart started boldly on what
proved the road to fortune. No young merchant ever worked harder than
he. From fourteen to eighteen hours each day were given to his business.
He was his own book-keeper, salesman, and porter. He could not afford to
employ help. Credit was hard to obtain in those days, and young
merchants were not favorites with those who had such favors to bestow.
Mr. Stewart was one of the least favored, inasmuch as he was almost a
total stranger to the business community in which he lived. He kept a
small stock of goods on hand, which he purchased for cash chiefly at
the auction sales. He was a regular attendant at these sales, and his
purchases were invariably "sample lots"--that is, collections of small
quantities of various articles thrown together in confusion, and sold in
heaps for what they would bring. He had these purchases conveyed to his
store, and after the business of the day was over, he and his wife would
take these "sample lots," and by carefully assorting them, bring order
out of the confusion. Every article was patiently gone over. Gloves were
redressed and smoothed out, laces pressed free from the creases which
careless bidders had twisted into them, and hose made to look as fresh
as if they had never been handled. Each article being good in itself,
was thus restored to its original excellence. The goods were then
arranged in their proper places on the shelves of the store, and by
being offered at a lower price than that charged by retail dealers
elsewhere in the city, met with a ready sale. Even at this low price the
profit was great, since they had been purchased for a mere trifle. For
six years Mr. Stewart continued to conduct his business in this way,
acquiring every day a larger and more profitable trade. Here he laid
down those principles of business and personal integrity from which he
has never departed, and which have led-him to the honorable position he
now holds.
"His first rule was _honesty_ between seller and buyer. His career is a
perfect exemplification of Poor Richard's maxim: 'Honesty is the best
policy,' and of the poet's declaration: 'Nothing can need a lie,' His
interest consorted with his inclination, his policy with his principles,
and the business with the man, when he determined that the truth should
be told over his counter, and that no misrepresentation of his goods
should be made. He never asked, he never would suffer, a clerk to
misrepresent the quality of his merchandise. Clerks who had been
educated at other stores to cheat customers, and then to laugh off the
transaction as 'cuteness,' or defend it as 'diamond cut diamond,' found
no such slipshod morality at Stewart's little store, and learned
frankness and fairness in representation at the peril of dismissal.
Their employer asked no gain from deceit in trade. On his part, too, in
buying, he rarely gave a seller a second opportunity to misrepresent
goods to him.
"A second innovation of the young dry goods dealer was selling at _one
price_--a custom which has also lasted without interruption, and which
has spread to all the great houses. He fixed his price, after careful
consideration, at what he thought the goods could and would bring, and
would not deviate from it for any haggling, or to suit individual cases.
Of course, he followed the fluctuations of the market, and marked his
goods up or down in accordance with it; but no difference in the price
was made to different people. Perhaps those who had some art in 'beating
down' prices were offended, but people in general were pleased.
"The third principle he adopted was that of _cash on delivery_. It is
said that his own early experience of buying on credit, and selling on
credit, drove him to this rule.
"A fourth principle with him was to conduct business as business--not as
sentiment. His aim was honorable profit, and he had no purpose of
confusing it by extraneous considerations."
While still engaged in his first struggles in his little store, Mr.
Stewart found himself called on to make arrangements to pay a note which
would soon become due. It was for a considerable sum, and he had neither
the money nor the means of borrowing it. It was a time when the
mercantile community of New York regarded a failure to pay a note as a
crime, and when such a failure was sure to bring ruin to any new man.
Mr. Stewart knew this, and felt that he must act with greater resolution
and daring than he had ever before exhibited, if he would save himself
from dishonor. To meet the crisis he adopted a bold and skillful
maneuver. He marked down every article in his store far below the
wholesale price. This done, he had a number of handbills printed,
announcing that he would sell off his entire stock of goods below cost,
within a given time. He scattered these handbills broadcast through the
city, and it was not long before purchasers began to flock to his store
to secure the great bargains which his advertisements offered them. His
terms were "cash," and he had little difficulty in selling. Purchasers
found that they thus secured the best goods in the market at a lower
figure than they had ever been offered before in New York, and each one
was prompt to advise relatives and friends to avail themselves of the
favorable opportunity. Customers were plentiful; the little Broadway
store was thronged all day, and long before the expiration of the period
he had fixed for the duration of his sales, Mr. Stewart found his
shelves empty and his treasury full. He paid his note with a part of the
money he had thus received, and with the rest laid in a fresh stock of
goods. He was fortunate in his purchases at this time, for, as the
market was extremely dull and ready money scarce, he, by paying cash,
bought his goods at very low prices.
The energy, industry, patience, and business tact displayed by Mr.
Stewart during these first years of his commercial life brought him
their sure reward, and in 1828, just six years after commencing
business, he found his little store too small and humble for the large
and fashionable trade which had come to him. Three new stores had just
been erected on Broadway, between Chambers and Warren Streets, and he
leased the smallest of these and moved into it. It was a modest
building, only three stories high and but thirty feet deep, but it was a
great improvement on his original place. He was enabled to fill it with
a larger and more attractive stock of goods, and his business was
greatly benefited by the change. He remained in this store for four
years, and in 1832 removed to a two-story building located on Broadway,
between Murray and Warren Streets. Soon after occupying it, he was
compelled, by the growth of his business, to add twenty feet to the
depth of the store and a third story to the building. A year or two
later a fourth story was added, and in 1837 a fifth story, so rapidly
did he prosper.
His trade was now with the wealthy and fashionable class of the city. He
had surmounted all his early difficulties, and laid the foundation of
that splendid fortune which he has since won. The majority of his
customers were ladies, and he now resolved upon an expedient for
increasing their number. He had noticed that the ladies, in "shopping,"
were given to the habit of gossiping, and even flirting with the clerks,
and he adopted the expedient of employing as his salesmen the handsomest
men he could procure, a practice which has since become common. The plan
was successful from the first. Women came to his store in greater
numbers than before, and "Stewart's nice young men" were the talk of the
town.
The great crisis of 1837 found Mr. Stewart a prosperous and rising man,
and that terrible financial storm which wrecked so many of the best of
the city firms did not so much as leave its mark on him. Indeed, while
other men were failing all around him, he was coining money. It had
always been his habit to watch the market closely, in order to profit by
any sudden change in it, and his keen sagacity enabled him to see the
approach of the storm long before it broke, and to prepare for it.
He at once marked down all his goods as low as possible, and began to
"sell for cost," originating the system which is now so popular. The
prices were very low, and the goods of the best quality. Every body
complained of the hard times, and all were glad to save money by
availing themselves of "Stewart's bargains." In this way he carried on a
retail cash trade of five thousand dollars per day in the midst of the
most terrible crisis the country has ever seen. Other merchants were
reduced to every possible expedient, and were compelled to send their
goods to auction to be sold for what they would bring, so great was
their need of ready money. Stewart attended all these auctions
regularly, and purchased the goods thus offered. These he sold rapidly
by means of his "cost system," realizing an average profit of forty per
cent. It is said that he purchased fifty thousand dollars worth of silks
in this way, and sold the whole lot in a few days, making a profit of
twenty thousand dollars on the transaction. Thus he not only passed
through the "crisis," but made a fortune in the midst of it.
From that time to the present day his march to fortune has been
uninterrupted. Nearly a quarter of a century ago he purchased the
property which is now the site of his wholesale store, and commenced to
erect the splendid marble warehouse which he still occupies. His friends
were surprised at his temerity. They told him it was too far up town,
and on the wrong side of Broadway, but he quietly informed them that a
few years would vindicate his wisdom, and see his store the center of
the most flourishing business neighborhood of New York. His predictions
have been more than realized.
He moved into his new store in 1846, and continued to expand and enlarge
his business every year. Some years ago he purchased the old
Ninth-Street Dutch Church and the lots adjacent to it, comprising the
entire block lying between Ninth and Tenth Streets, Broadway and Fourth
Avenue. When he found the retail trade going up town, and deserting its
old haunts below Canal Street, he erected a fine iron building at the
corner of Broadway and Tenth Street, to which he removed the retail
department of his business, continuing his wholesale trade at his old
store on Chambers Street. This new "upper store" has increased with the
business. The building now covers the entire block upon which it is
erected, and is the largest, most complete, and magnificent
establishment of its kind in the world.
Though he took no active part in politics, he was too much interested in
public affairs, by reason of his immense wealth, not to watch them
closely. He was satisfied, some time before our late troubles began,
that war must come, and quietly made contracts with nearly all the
manufacturers for all their productions for a considerable period of
time. Accordingly, when the war did come, it was found that nearly all
the articles of clothing, blankets, etc., needed for the army had been
monopolized by him. His profits on these transactions amounted to many
millions of dollars, though it should be remarked that his dealings with
the Government were characterized by an unusual degree of liberality.
The gains thus realized by him more than counterbalanced the losses he
sustained by the sudden cessation of his Southern trade.
Fifty years have now passed away since the young school-teacher landed
in New York, and he stands to-day at the head of the mercantile
interests of the New World. In the half-century which has elapsed since
then, he has won a fortune which is variously estimated at from
twenty-five to forty millions of dollars. He has gained all this wealth
fairly, not by trickery and deceit, or even by a questionable honesty,
but by a series of mercantile transactions the minutest of which bears
the impress of his sterling integrity, and by a patience, energy, tact,
and genius of which few men are possessed. Surely, then, it must be a
proud thought to him that he has done all this _himself_, by his own
unaided efforts, and that amid all his wonderful success there does not
rest one single stain upon his good name as a man or a merchant.
It is said that Mr. Stewart regards himself as a "lucky man," rather
than as one who has risen by the force of his own genius. A writer in
the New York _Herald_ relates the following incident, as illustrative of
the superstition which this feeling of "luck" has given rise to with
him: "When he kept his store on Broadway, between Murray and Warren
Streets, there sat on the sidewalk before it, on an orange box, an old
woman, whose ostensible occupation was the selling of apples. This
business was, however, merely a pretense; the main object being beggary.
As years rolled on, Mr. Stewart became impressed with the idea that the
old dame was his guardian angel of good luck, and this impression took
so firm a hold upon his mind that when he removed to Chambers Street,
he, in person, took up the old woman's box, and removed her to the front
of his new establishment. In further illustration of Mr. Stewart's faith
in the Irish traditional belief in 'lucky' and 'unlucky' persons, it may
be mentioned that, after the completion of the St. Nicholas Hotel in
this city, an undertaking in which he was largely interested, and when
the building was just about to be opened for the reception of guests,
the millionaire, standing in the drawing-room, ejaculated, 'It is now
finished; I hope its first visitors may be lucky people.'
"A gentleman present, who had heard of Mr. Stewart's care for the aged
apple vendor, remarked, 'I presume, sir, you do not in reality care
about lucky or unlucky persons;' to which he immediately replied,
'Indeed, I do. There are persons who are unlucky. I sometimes open a
case of goods, and sell the first from it to some person who is unlucky,
and lose on it to the end. I frequently see persons to whom I would not
sell if I could avoid it.'"
The first incident, if true, doubtless illustrates the quiet kindness
with which Mr. Stewart watches over the poor that he takes under his
care--and they are many. He has won his success too fairly to be a
believer in mere _luck_. There is no such thing as chance in this world.
Men are the architects of their own fortunes.
One of the principal reasons of his success is the rigid system with
which he conducts his business. He has a place for every thing, and a
time for every duty, and requires the same regularity from his
subordinates. His salesmen and managers are thoroughly versed in their
duties, and the more important of them are selected with great care.
Every thing works smoothly under the master's eye, and there is a
penalty for each and every delinquency, which is rigidly exacted.
Mr. Stewart is one of the hardest workers in his establishment. His
partners relieve him of the details, but the general management of his
immense business he trusts to no other hands. His eye is on every thing.
He is familiar with every detail, though he does not take upon himself
its direction. He goes to his business between nine and ten in the
morning, stopping first at his upper store. He makes a brief but
thorough inspection here, and learns the general progress of the day,
and then repairs to his lower or wholesale store, where he remains
during business hours, and returns home between five and six in the
afternoon, stopping again at the upper store. He works hard, and is
never absent from his post unless detained by sickness.
His time is valuable, and he is not willing to waste it.
Many persons endeavor to see him merely to gratify their impertinent
curiosity, and others wish to intrude upon him for purposes which would
simply consume his time. To protect himself, he has been compelled to
resort to the following expedient: A gentleman is kept on guard near the
main door of the store, whose duty is to inquire the business of
visitors. If the visitor wishes to see Mr. Stewart, the "sentinel"
informs him that he must first state his business to him. If the visitor
urges that it is private, he is told that Mr. Stewart has no private
business. If his errand meets the approval of the gentleman on guard, he
is allowed to go up stairs, where he is met by the confidential agent of
the great merchant, to whom he must repeat the object of his visit. If
this gentleman is satisfied, or can not get rid of the visitor, he
enters the private office of his employer and lays the case before him.
If the business of the visitor is urgent he is admitted, otherwise, he
is refused an interview. If admitted, the conference is brief and to the
point. There is no time lost. Matters are dispatched with a method and
promptitude which astonish strangers. If the visitor attempts to draw
the merchant into a friendly conversation, or indulges in useless
complimentary phrases, after the matter on which he came is settled, Mr.
Stewart's manner instantly becomes cold and repelling, and troublesome
persons are sometimes given a hint which hastens their departure. This
is his working time, and it is precious to him. He can not afford to
waste it upon idlers. In social life he is said to be exceedingly
affable.
The greater portion of Mr. Stewart's immense fortune is invested in real
estate. Besides his two stores on Broadway, he owns the Metropolitan
Hotel and the New York Theater, also on Broadway; nearly all of Bleecker
Street from Broadway to Depauw Row, several churches, a number of
buildings, and many valuable lots. He resides at the north-east corner
of the Fifth Avenue and Thirty-fourth Street. Immediately opposite he is
building one of the finest residences in the world, and the most superb
in America. He owns more real estate than any man in America except
William B. Astor, and is the most successful merchant in the world.
Mr. Stewart is said to be extremely liberal in his donations to objects
which meet with his sympathy. The majority of these donations are
quietly made, as he has a repugnance to public charities. He gave
liberally to the cause of the Union during the war. During that struggle
he sent a cargo of provisions to Ireland, where much distress existed,
and then invited as many emigrants as the vessel would carry to take
passage to America in her, free of charge. One hundred and thirty-nine
persons availed themselves of his offer, and upon reaching America were
all provided with good situations by him. At present he is engaged in
erecting on the Fourth Avenue a large building, in which homes will be
provided for poor working females, at a small expense to them. It is
said that this noble project will require an outlay of several millions
of dollars. His friends--and he has many--speak of him as exceedingly
kind and liberal, and seem much attached to him.
As I have said before, Mr. Stewart has not cared for political
distinction, but has rather shunned it. He was a member of the Union
Defense Committee during the war, and in 1866 was one of the signers of
the Saratoga address, calling on the people of the country to sustain
the policy of President Johnson. His warm friendship for General Grant
caused him to be one of the earliest advocates of the election of the
latter to the Presidency. He was a candidate for Presidential Elector on
the Republican ticket for the State of New York, but was defeated, with
his associates, by the Democracy.
His intimate relations with General Grant, together with his vast
financial experience, induced many persons to believe that he would be
offered a place in the Cabinet of the new President. These expectations
were realized by his nomination to the post of Secretary of the
Treasury, on the 5th of March, 1869, and his immediate and unanimous
confirmation by the Senate. He was about to enter upon his new duties,
when it was discovered that there existed an old and almost forgotten
law forbidding any merchant from becoming the head of the Treasury
Department. As soon as this discovery was made, Mr. Stewart expressed
his desire to withdraw from the position, and thus relieve the President
of all embarrassment upon the subject, but the latter, wishing, if
possible, to retain him in the Cabinet, urged him to delay his action,
with the hope that the difficulty might be obviated. Willing to oblige
his friend, and anxious to serve the country, Mr. Stewart consented to
do this, but finding that certain persons were seeking to make his
nomination a source of trouble to the Administration, offered either to
resign the place or to relinquish his entire interest in his business
during the period of his Secretaryship, and to donate his immense
profits for that time to the poor of the city of New York. This
sacrifice, he hoped, would render him eligible; but the President was
unwilling to accept the princely offer--the noblest ever made by any
man--and Mr. Stewart finally withdrew from the contest.
There can be no doubt that he would have been the best Secretary that
could have been placed at the head of the Treasury. His great financial
experience and his unquestioned ability were better qualifications than
those possessed by any politician in the land. Perhaps the best proof of
the satisfaction which his appointment produced in the minds of the
thinking men of the country is the manner in which the news affected
the money market. Gold fell as soon as the announcement was made.
Few strangers ever come to New York and depart without visiting
Stewart's famous store at the corner of Tenth Street and Broadway. The
lower, or wholesale store, is far more important to its owner; but it
conducts its operations exclusively with dealers, and in such a quiet
and systematic way that it seems to attract but little attention among
the masses. It is the upper or retail store that is the wonder of the
great city in which it is located.
It is constructed of iron, in the style of arcade upon arcade, and is
lighted by numerous windows. It fronts two hundred feet on Broadway, and
three hundred feet on Ninth and Tenth Streets. It covers an area of
about two acres, is five stories and an attic in height, and has two
cellars underneath. It is warmed by steam, and contains several
steam-engines for hoisting goods, running the machines employed in the
manufacturing department, and forcing water into the immense tank at the
top of the building. Six elevators and several handsome stairways
connect the various floors. Three of the elevators are used for
conveying customers up and down, and the others for hoisting and
lowering goods. The building is lighted by several thousand gas jets,
which are all set aflame simultaneously by electricity.
The various floors, with the exception of the first, are broken only by
a rotunda, which extends to the roof, and is inclosed at each floor by a
massive iron balustrade. Leaning over one of these balustrades, and
looking up or down, the sight is brilliant and attractive. Thousands of
persons are scattered about the floors making purchases. Hundreds of
clerks, salesmen, and cash boys are busy serving them, and the buzz and
hum of human voices under the vast roof sounds like the droning of a
hive of bees.
The service of this immense establishment is arranged as follows: There
is one general superintendent, with nineteen assistants, each of whom is
at the head of a department. Nine cashiers receive and pay out money;
twenty-five book-keepers keep the record of the day; thirty ushers
direct purchasers to the department they seek; two hundred cash boys
receive the money and bring back the change of purchasers; four hundred
and seventy clerks, a few of whom are females, make the sales of the
day; fifty porters do the heavy work, and nine hundred seamstresses are
employed in the manufacturing department. Besides these, there are
usually about five hundred other persons employed about the
establishment in various capacities, bringing the total strength of the
_personelle_ of the house to twenty-two hundred.
The accounts of each department are kept separate, and the sales of each
for the day constitute a separate return. These sales will average
something like the following figures:
Silks $15,000
Dress goods 6,000
Muslins 3,000
Laces 2,000
Shawls 2,500
Suits 1,000
Calicoes 1,500
Velvets 2,000
Gloves 1,000
Furs 1,000
Hosiery 600
Boys' clothing 700
Notions 600
Embroideries 1,000
Carpets 5,500
The total daily receipts average $60,000, and have been known to amount
to $87,000.
Salaries of subordinate clerks range from $5 to $25 per week. The cash
boys receive $5 per week. If not fined for misconduct they receive a
reward of $1 per month, and a further reward of $5 at the end of each
half year. They are promoted as fast as their conduct and vacancies in
the force of salesmen will allow. The number of employes being so large,
the proprietor is compelled to keep them under the constant espionage of
two experienced detectives, and each evening when they leave the store
they are required to do so through a private door on Ninth Street, where
the detectives are stationed to see that none of them carry away
articles which do not belong to them.
The number of visitors to the establishment in the busy season is very
large. On special occasions, such as opening days, it is said to have
reached fifty thousand, but the general average is placed at fifteen
thousand, and they represent every grade in life. Rich and poor mingle
here freely.
The floors are arranged simply, and with regard to business rather than
for show, but every thing is elegant and tasteful. The sub-cellar is
used as a store-room for goods in cases. Here the fabrics are opened and
sent to their departments. The cellar is the carpet sales-room. The
first floor is the general sales-room, and is the most attractive place
in the building. It is three hundred feet long by two hundred wide, and
is provided with one hundred counters, each fifty feet in length. Behind
these counters the goods are arranged, with no effort at display, on the
shelves, which rise but a few feet above the counters. There is an
abundance of light in all parts of the house, especially over the silk
counters, which are just under the rotunda. The second floor is taken up
with ladies' suits, shawls, curtain goods, etc., and the next floor is
devoted to the same purpose. The fourth floor is used as a manufactory
for making up the suits, etc., placed on sale or ordered by customers;
on the fifth is the fur-room and upholstery manufactory; and the sixth
is occupied as a laundry. The most perfect order is maintained in every
part of the establishment, the mere direction of which requires
administrative ability of a very high character.
As fast as the sales are made, the articles, unless taken away by the
purchaser, are sent to the parcel desk, which is located in the cellar.
This is the busiest department in the house, and one of the most
important. Each order is accompanied by a ticket stating the quality and
amount of the goods, the price, and the address of the purchaser. It is
remeasured and examined here, so that any error on the part of the
salesman may be detected and repaired. Errors of this kind, however, are
rare, and the burden of the labor in this department consists of making
the goods up into secure packages and sending them to their
destinations. The tickets delivered at the parcel desk are then sent to
the checking desk, which is also in the basement, where they are
compared with those delivered by the salesmen to the cashiers, and if no
error is discovered, the goods are sent to the wagons for delivery.
The wagon department constitutes a very important branch of the
business. The vehicles and horses are accommodated in a fine stable on
Amity Street, near Broadway. The building was formerly a Baptist church,
and was presided over by the Rev. Dr. Williams. When the congregation
went higher up town, they sold the old church, which found a purchaser
in Mr. Stewart. He converted it into a stable, and has since more than
doubled its size. The floor was taken up, a sewer built to carry off the
waste water, and the place paved with brick and cement. It is now one of
the best stables in the city. It contains over forty horses, and five
grooms are on hand to attend to them. There are eight wagons employed at
the up-town store to deliver parcels to purchasers, while thirteen
single wagons are used by the lower store to cart single cases around
town. In addition to these, there are ten double trucks to haul heavy
goods. Twenty-seven drivers are employed, and thirteen hundred bushels
of oats and fifty tons of hay are fed out during a year. The place is in
charge of a watchman at night, and during the day is managed by a
superintendent. At half-past eight the trucks report at the down-town
store, and remain there all day. At the same moment one of the light
wagons is dispatched to the retail store, and at once takes out the
early sales. In an hour another wagon follows it, and this course is
pursued all day until six o'clock, when the last wagon takes the last
sales. By this system purchasers receive their parcels with dispatch,
and the immense business of the day is entirely finished. Every week the
superintendent of the stables makes a report of the condition of the
horses and wagons, and this "stable report" is carefully inspected at
head-quarters. In case of sickness or stubborn lameness, the horses are
sent to the country to recruit.
Mr. Stewart has a farm at Tuckahoe, where the invalid horses are kept,
and where much of their provender is raised. This farm is noted for the
valuable marble quarry which furnished the stone from which his new
mansion on Fifth Avenue is built.
The retail store contains fabrics of every description and price. The
wife of a millionaire can gratify her fancy here to its utmost limit,
while the poor sewing-girl can obtain her simple necessities at the same
price which is demanded for them from the rich. In the shawl department,
there are "wraps" worth as much as $4,500, but not more than one or two
find a purchaser in the course of a year. Shawls at $3,000 find a sale
of about twenty a year, and the number of purchasers increases as the
price diminishes. The wealthy ladies of New York deal here extensively.
One of the clerks of the establishment recently made a statement that a
fashionable lady ran up a bill of $20,000 here in two months.
Mr. Stewart, though leaving the details of the retail business in the
hands of Mr. Tuller, the general superintendent, yet keeps himself
thoroughly informed respecting it, and exercises over it a general
supervision, to which its increasing success is due. He knows exactly
what is in the house, how much is on hand, and how it is selling. He
fixes the prices himself, and keeps them always at a popular figure. He
is said to have an aversion to keeping goods over from one season to
another, and would rather sacrifice them than do so. He has no dead
stock on hand. His knowledge of the popular taste and its variations is
intuitive, and his great experience enables him to anticipate its
changes.
"There can not be so much selling without proportionate buying, and
Stewart is as systematic in the latter as the former. Of late he has not
acted personally in making purchases, but has trusted to the system
which he organized some years ago, and which he has found to admirably
answer as his substitute. He has branch establishments exercising
purchasing functions only in Boston and Philadelphia, in the United
States; in Manchester, England; and in Paris and Lyons, France. But
while these are his agencies, his buyers haunt the marts of the whole
world. There is no center of commerce or manufacture of the wide range
of articles in which he deals, on either of the continents, where he is
not always present by deputy to seize upon favorable fluctuations of the
market, or pounce upon some exceptionally excellent productions. He
owns entire the manufactory of the celebrated Alexandre kid-glove. He
has a body of men in Persia, organized under the inevitable
superintendent, chasing down the Astrachan goat heavy with young, from
which the unborn kids are taken and stripped of their skins, thus
sacrificing two animals for every skin obtained. He rifles Lyons of its
choicest silks, the famous productions of Bonnet and Ponson. Holland and
Ireland yield him the first fruits of their looms. Belgium contributes
the rarest of her laces, and the North sends down the finest of its
Russian sables. All the looms of France, England, Belgium, and the
United States are closely watched, and the finest fabrics in dress
goods, muslins, carpets, and calicoes are caught up the moment the
workmen put on the finishing touches. He buys for cash the world over,
and is a customer every-where so recognized as desirable that he has his
choice of industrial productions, and on more advantageous terms than
his rivals can purchase what he leaves. He has been so long in the
business, and has become so thoroughly versed in the productions of
different looms in different countries, that it is now his practice to
select certain mills noted for excellence of work, and take their entire
supply, and thus it happens that there are many looms in the busiest
haunts of the Old and New Worlds that toil unceasingly on his account.
"By buying thus largely in foreign lands, he is, of course, the largest
importer in the nation, and his duties average $30,000 gold per day.
Every year his business steadily increases, and there is apparently no
practical limit at which it will stop. As prudent in vast affairs as
other men are in small, he insures liberally, and has policies renewed
every third day throughout the year. But, while leaning upon the
insurance companies, he is utterly independent of the banks; he has
never asked one of them to 'carry' him through a crisis, and should such
a contingency arise, there is no bank in the world competent to the
task."
Mr. Stewart is now sixty-eight years old, but looks much younger, being
still as vigorous and active, both mentally and physically, as most men
of forty-five. He is of the medium size, has light-brown hair and beard,
which are closely trimmed. His features are sharp, well cut, his eye
bright, and his general expression calm and thoughtful. His manner is
reserved, and to all but his intimate friends cold. He dresses with
great simplicity, but with taste, and in the style of the day. His
habits are simple, and he avoids publicity in all things. Standing as he
does at the head of the mercantile interests of the country, he affords
a fine example of the calm and dignified manner in which a man of true
merit may enjoy his legitimate success, and of the good use he may make
of its fruits.
CHAPTER IV.
AMOS LAWRENCE.
Amos Lawrence was born at Groton, Massachusetts, on the 22d of April,
1786. His ancestor came of a good English family, and was one of the
company which sailed from England for the New World under Governor
Winthrop, in 1630, and which, according to Grahame, contained "several
wealthy and high-born persons, both men and women, who expressed their
determination to follow truth and liberty into a desert, rather than to
enjoy all the pleasures of the world under the dominion of superstition
and slavery." This Lawrence settled in Watertown, and was one of the
original proprietors of the town of Groton, which was founded in 1655.
Samuel Lawrence, the father of the subject of this memoir, was the fifth
in descent from the founder of the family, and was himself a gallant
officer of the American army in the War of the Revolution, the close of
which found him the possessor of a small farm, which yielded a modest
support for his family.
Young Amos was brought up on the farm, with none of the advantages of
wealth, and with but a limited education, which he gained at the village
schools, and which was seriously interfered with by his delicate health.
He received his final training at the Groton Academy, to which, in after
life, he became a liberal patron. "As we children came forward," he
wrote, late in life, "we were carefully looked after, but were taught
to use the talents intrusted to us; and every nerve was strained to
provide for us the academy which is now doing so much there." Toward the
close of the year 1799, when but a little over thirteen years of age, he
took his final departure from school, and entered a store in the village
of Dunstable, as clerk.
He remained there but a few months, and then returned to Groton, where
he obtained a place as apprentice in the store of a Mr. Brazer. This was
the largest establishment in the place, and conducted a very important
trade with the country for miles around. Boston was so far, and so
difficult to reach in those days, that Groton came in for nearly all the
business of its vicinity which the railroads have now taken to the city.
Mr. Brazer's establishment, which was known as a "variety store," came
in for the best part of this trade. Every thing was sold there;
"puncheons of rum and brandy, bales of cloth, kegs of tobacco, with
hardware and hosiery, shared attention in common with silks and threads,
and all other articles for female use." Even medicines were sold there;
and Dr. Wm. B. Lawrence, the son of our hero, assures us that his father
was obliged to sell medicines, not only to customers, but to all the
physicians within a circuit of twenty miles, who depended on this
establishment for their supplies. "The confidence in his good judgment,"
he adds, "was such that he was often consulted in preference to the
physician, by those who were suffering from minor ails; and many were
the extemporaneous doses which he administered for the weal or woe of
the patient."
The Brazer store was a prominent feature in Groton. It was a place of
general resort, and close by was the tavern where the mail coaches
stopped. Travelers were constantly passing through the town, bringing
the news of those stirring days when Napoleon was rushing over Europe
with his armies, overturning old states and building up new ones, and
changing the destinies of the world. The domestic politics of the day
were exciting, and it is likely that they aided, together with the
events in the Old World, in imparting to the character of Mr. Lawrence
the earnestness and gravity for which he was noted when a mere lad.
Mr. Brazer had in his employ a number of clerks, but it was not long
before the energy and business talent of young Lawrence made him the
most trusted of all. Mr. Brazer did not give much personal attention to
the store, and when he found that his young clerk was so admirable and
reliable a manager, he left the business entirely in his hands. This was
a post of unusual responsibility for one so young, but Amos Lawrence
accepted it promptly, and labored to discharge its duties faithfully. He
at once established the character for probity and fairness which
distinguished him through life; his simple assertion was sufficient in
any matter, being received with implicit trust by all who knew him. His
duties kept him constantly employed, and though he lived within a mile
of his father's house, weeks sometimes passed without giving him the
opportunity of visiting it.
Drunkenness was at that day the curse of New England. Every body drank,
and such fiery fluids as brandy, whisky, rum, and gin were the
favorites. Men, women, and children were addicted to the vice, and
Groton was no exception to the rule. Mr. Brazer's store was famous for
the good liquors served out to its customers, and his clerks were aware
that their employer did not object to their helping themselves when they
felt thirsty. Amos Lawrence fell into the habit to which all were given,
and for some time went along with the rest; but at length he came to the
conclusion that such indulgence was wantonly ruining his health, and he
resolved to abstain entirely. "We five boys," said he, years afterward,
"were in the habit, every forenoon, of making a drink compounded of rum,
raisins, sugar, nutmegs, etc., with biscuit--all palatable to eat and
drink. After being in the store four weeks, I found myself admonished by
my appetite of the approach of the hour for indulgence. Thinking the
habit might make trouble if allowed to grow stronger, without further
apology to my seniors, I declined partaking with them. My first
resolution was to abstain for a week, and, when the week was out, for a
month, and then for a year. Finally, I resolved to abstain for the rest
of my apprenticeship, which was for five years longer. During that whole
period I never drank a spoonful, though I mixed gallons daily for my old
master and his customers."
At the same time, Mr. Lawrence determined that he would not use tobacco
in any form. He was very fond of the odor of "the weed," and at one
period of his life always kept a fine Havana in his drawer that he might
enjoy the scent of it; but he was totally free from our disgusting
national vice in any of its forms. In this respect, as indeed in all
others, he offers a fine example to the rising youth of the present
generation.
On the 22d of April, 1807, Mr. Lawrence completed his twenty-first year,
and his seven years' apprenticeship with Mr. Brazer came to an end. He
was now of an age to enter into business for himself, and it was his
intention to open a small store in Groton, in connection with a brother
apprentice, but before doing so he decided to visit Boston for the
purpose of establishing a credit. He reached the city with but twenty
dollars in his pocket, richer, he subsequently declared, in his own
estimation, than he ever felt before or afterward. While in the city, he
received the offer of a clerkship from a mercantile house of good
standing. It was entirely unsolicited, and took him by surprise, but he
decided to accept it, and abandoned his idea of going into business for
himself in Groton; and this act led to a career entirely different from
that to which he had looked forward.
Boston, in 1807, had a population of about thirty thousand, and the
commercial position of the city was relatively much greater than at
present. The foreign trade of the United States was enormous, and was
carried on in American ships, and not, as at present, in foreign
vessels. The total tonnage of American shipping engaged in this trade
was seven hundred thousand tons, and of this Boston possessed a fair
share. Her domestic trade was also important.
"The merchants of Boston had then high places in the estimation of the
world. The Perkinses, the Sargeants, the Mays, the Cabots, the
Higginsons, and others, were known throughout the world for their
integrity, their mercantile skill, and the extent and beneficial
character of their operations. These were the golden days of Boston's
commerce.... The standard of integrity was high, and though it would be
absurd to suppose that there was not the usual amount of evil in the
place, it may be assumed that in no part of the world was the young
trader more likely to find severer judges of character and conduct, or
to be better treated if he should afford unquestionable proofs of
capacity and honesty."
It was into this community that Mr. Lawrence now entered, and in which
his life was spent. He gave such satisfaction to his employers that,
when he had been with them a short time, they astonished him with the
offer of a partnership. He was but partially acquainted with their
affairs, but their manner of conducting their business did not please
him, and he declined their offer. His sagacity was verified by the
result. In a few months the firm failed, and the creditors appointed
him to settle their affairs, which he did to their satisfaction.
Being now out of employment, he resolved to commence business on his own
account in Boston. He had made such a favorable impression upon the
merchants of the city that he had no difficulty in obtaining credit. He
rented a store in Cornhill, stocked it with dry goods, and began his
career as a merchant. Four months after this, his father, who was keenly
interested in his son's success, without consulting the latter,
mortgaged his farm for one thousand dollars, and, repairing to Boston,
placed the money in Amos Lawrence's hands. Mr. Lawrence was profoundly
affected by this proof of his father's devotion, but he regretted it
none the less, as he knew that his failure would bring ruin to his
parent as well as to himself. "I told him," said he, forty years later,
"that he did wrong to place himself in a situation to be made unhappy if
I lost the money. He told me he _guessed I wouldn't lose it_, and I gave
him my note." Mr. Lawrence made a prompt use of the money, and paid the
mortgage at the proper time; but he had a narrow escape from loss, as
the bank on which he had bills for the amount of the mortgage failed
almost immediately after he had obtained specie for them.
"This incident," he said, "shows how dangerous it is to the independence
and comfort of families for parents to take pecuniary responsibilities
for their sons in trade, beyond their power of meeting them without
embarrassment. Had any Hillsborough bank-notes not been paid as they
were, nearly the whole amount would have been lost, and myself and my
family might have been ruined. The incident was so striking that I have
uniformly discouraged young men who have applied to me for credit,
offering their fathers as bondsmen; and by doing so I believe I have
saved some respectable families from ruin. My advice, however, has
sometimes been rejected with anger. A young man who can not get along
without such aid will not be likely to get along with it."
He began his business upon principles of prudence and economy, which he
rigidly maintained throughout his whole life. He never allowed himself
to anticipate his gains, and having fixed his personal expenses at a
certain sum, he never went beyond it. His system, which is thus stated
by himself, is offered here as a safe and admirable rule for all
persons:
"When I commenced, the embargo had just been laid, and with such
restrictions on trade that many were induced to leave it. But I felt
great confidence that, by industry, economy, and integrity, I could get
a living; and the experiment showed that I was right. Most of the young
men who commenced at that period failed by spending too much money, and
using credit too freely.
"I adopted the plan of keeping an accurate account of merchandise bought
and sold each day, with the profit, as far as practicable. This plan was
pursued for a number of years, and I never found my merchandise fall
short in taking an account of stock, which I did as often at least as
once in each year. I was thus enabled to form an opinion of my actual
state as a business man. I adopted also the rule always to have
property, after my second year's business, to represent forty per cent,
at least more than I owed--that is, never to be in debt more than two
and a half times my capital. This caution saved me from ever getting
embarrassed. If it were more generally adopted, we should see fewer
failures in business. Excessive credit is the rock on which so many
business men are broken."
Mr. Lawrence was very successful from the first. His profits during his
first year were fifteen hundred dollars, and over four thousand during
the second. In seven years he made over fifty thousand dollars. He paid
the closest attention to his business, and nothing could draw him from
it in working hours. After these were over he would take his pleasure.
His aim was to keep every thing in the most complete state possible.
During the first seven years of his business he never allowed a bill
against him to stand unsettled over the Sabbath. If he made a purchase
of goods on Saturday, and they were delivered to him that day, he always
examined and settled the bill by note, or by crediting it, and leaving
it clear, so that there should be no unfinished business to go over to
the next week, and make trouble for his clerks in case he should not be
at his post. "Thus," said he, "I always kept my business _before_ me,
instead of allowing it to drive me."
The first years of Mr. Lawrence's mercantile experience covered the
darkest period of the history of the Republic. They were marked by the
embargo, the crippling of our commerce by the hostility of England and
France, and the second war with Great Britain, in all of which there was
much to dis-hearten a beginner, even if he escaped positive loss.
Nothing was certain. The events of a single hour might undo the labor of
years, and baffle the best laid plans. Yet he persevered, and went
steadily on to fortune. He was remarkable for his keen foresight, as
well as for his prudence, and was always on the alert to profit by the
fluctuations of the market. Yet he abominated speculation. He averred
that speculation made men desperate and unfit for legitimate business,
and that it led them, when under excitement, to the commission of acts
against which their cooler judgment would have warned them. The fair
profits of legitimate business were, in his opinion, sure to reward any
honest and capable man. His aim was to elevate commerce, and not to
degrade it. He introduced into Boston the system of double-entry in
book-keeping, in advance of any other city merchant. He was prompt and
faithful in the performance of every contract, and required a similar
course toward himself from all indebted to him, as long as they were
able to do so. When they became unfortunate, he was kind and generous,
ready to compromise upon the most liberal terms, or to give them their
own time for payment; and it is recorded of him that he never dealt
harshly with a debtor who had failed in business.
As long as such a course was necessary, Mr. Lawrence devoted himself
entirely to his business, but after he had placed it on a safe footing,
he was careful to reserve to himself time for other duties and for
relaxation. No man, he said, had the right to allow his business to
engross his entire life. "Property acquired at such sacrifices as I have
been obliged to make the past year," he wrote at the commencement of
1826, "costs more than it is worth; and the anxiety in protecting it is
the extreme of folly." He never lost sight of the fact that man is a
responsible, intelligent being, placed in the world for other purposes
than the mere acquisition of wealth.
In October, 1808, his brother, Abbott Lawrence, afterward famous as a
merchant and statesman, came to him as an apprentice, and on the 1st of
January, 1814, he was admitted to partnership, the style of the firm
being A. & A. Lawrence. This partnership was terminated only by the
death of the elder brother in 1852. Their business was the importation
and sale of foreign manufactures, and the firm soon took its place at
the head of the Boston merchants engaged in this trade. The tariffs of
1816 and 1824 gave a new and powerful impetus to the manufacture of
woolens and cottons in this country, and the Lawrences entered largely
into the sale of these goods on commission. In 1830, they became
interested in the cotton mills at Lowell; and on the establishment of
the Suffolk, Tremont, and Lawrence Companies, as well as subsequently in
other corporations, they became large proprietors. From this time their
business as selling agents was on the most extensive scale, and their
income from all sources large in proportion. They amassed large
fortunes, and won names which are the most precious heritages of their
children.
Perhaps the best exposition of the principles upon which these brothers
conducted their commercial operations is found in the following letter
from the elder to the younger, written on the 11th of March, 1815, upon
the occasion of a visit to England by the latter on business for the
firm:
MY DEAR BROTHER--I have thought best, before you go abroad, to
suggest a few hints for your benefit in your intercourse with the
people among whom you are going. As a first and leading principle,
let every transaction be of that pure and honest character that you
would not be ashamed to have appear before the whole world as
clearly as to yourself. In addition to the advantages arising from
an honest course of conduct with your fellow-men, there is the
satisfaction of reflecting within yourself that you have endeavored
to do your duty; and however greatly the best may fall short of
doing all they ought, they will be sure not to do more than their
principles enjoin.
It is, therefore, of the highest consequence that you should not
only cultivate correct principles, but that you should place your
standard of action so high as to require great vigilance in living
up to it.
In regard to your business transactions, let every thing be so
registered in your books, that any person, without difficulty, can
understand the whole of your concerns. You may be cut off in the
midst of your pursuits, and it is of no small consequence that your
temporal affairs should always be so arranged that you may be in
readiness.
If it is important that you should be well prepared in this point
of view, how much more important is it that you should be prepared
in that which relates to eternity!
You are young, and the course of life seems open, and pleasant
prospects greet your ardent hopes; but you must remember that the
race is not always to the swift, and that, however flattering may
be our prospects, and however zealously you may seek pleasure, you
can never find it except by cherishing pure principles and
practicing right conduct. My heart is full on this subject, my dear
brother, and it is the only one on which I feel the least anxiety.
While here, your conduct has been such as to meet my entire
approbation; but the scenes of another land may be more than your
principles will stand against. I say _may be_, because young men of
as fair promise as yourself have been lost by giving a small
latitude (innocent in the first instance) to their propensities.
But I pray the Father of all mercies to have you in his keeping,
and preserve you amid temptations.
I can only add my wish to have you write me frequently and
particularly, and that you will embrace every opportunity of
gaining information.
Your affectionate brother, AMOS LAWRENCE.
TO ABBOTT LAWRENCE.
In his politics, Mr. Lawrence was a Federalist, and then a Whig. He
served for one term in the State Legislature as a Representative from
Boston, with credit to himself, but afterward avoided any active
participation in public events. When his nephew-by-marriage, General
Pierce, was a candidate for the Presidency, he was very much gratified
personally by the selection of the Democracy, but declined to vote for
him. In a letter to a friend, written at this time, he said: "I had a
charming ride yesterday with my nephew, Frank Pierce, and told him I
thought he must occupy the White House the next term, but that I would
go for Scott. Pierce is a fine, spirited fellow, and will do his duty
wherever placed. Scott will be my choice for President of the United
States."
Regarding himself as a steward of the riches committed to him, Amos
Lawrence was liberal in his charities. During the last twenty-four years
of his life he kept an accurate account of the sums he thus distributed,
but with no idea that the statement, which he intended for his own eye
only, would ever be made public. During this period he gave away six
hundred and thirty-nine thousand dollars. The greater part of this was
given away in ten years, and during a period when his average income was
sixty thousand dollars a year. He was a liberal patron of education,
giving large sums to its extension; and it was his delight to assist
poor clergymen, without regard to denominations. He gave away clothing,
food, books, etc., in large quantities, as well as ready money. "Two
rooms in his house," says his son and biographer, "and sometimes three,
were used principally for the reception of useful articles for
distribution. There, when stormy weather or ill-health prevented him
from taking his usual drive, he was in the habit of passing hours in
selecting and packing up articles which he considered suitable to the
wants of those whom he wished to aid." He did not forget the children,
and many of his packages contained toys, and books, and other things
calculated to promote their enjoyment.
He was beset with beggars of all kinds, many of whom he was compelled to
refuse. In his diary, he wrote on the 11th of April, 1849, "Applications
come in from all quarters, for all objects. The reputation of giving
freely is a very bad reputation, so far as my personal comfort is
concerned."
It pained him to have his charities made public, and he frequently
requested the recipients to say nothing about them. He once made a
present of some books to the Johnson school for girls, and the gift
being acknowledged through the columns of a newspaper, he wrote to the
principal of the school: "I merely want to say that I hope you will not
put me in the newspaper at present, and when my work is done here, if
you have any thing to say about me that will not hurt my children and
grandchildren, say on," To another party he wrote: "I must request that
my name be not thrust forward, as though I was to be a by-word for my
vanity. I want to do good, but am sorry to be published, as in the
recent case."
As a merchant, Mr. Lawrence was upright, prudent, far-seeing, sagacious,
and courageous; as a citizen, he was patriotic, public-spirited, and
devoted; and as a man, he was a sincere, earnest, Christian husband,
father, and friend. Viewed in any light, his character affords one of
the most perfect models to be found in our history. He was the Christian
_gentleman_ in all things, even in the minutest detail of his business.
His standard was very high, but he came up to it. Courteous and
dignified in manner, with a face handsome and winning in youth, and
gentle and benignant in age, he made scores of friends wherever he went,
for it was a true index to his character. It is a significant and
interesting fact that, during the hottest passages of the old
nullification times, although his views were known to be
uncompromisingly opposed to the attitude of the South, he never lost the
warmest friendship of some of the most advanced of the South Carolina
leaders. When one thinks of the friendships that were wrecked amid the
passions of those days, this fact speaks volumes for the personal
attributes of Mr. Lawrence.
He was a true American--proud of his country's past, hopeful for her
future, and desiring nothing better than to live and die in the land of
his birth. He sent his children abroad that they might see the Old
World, and profit by the lessons learned there, but he strove earnestly
to keep them true to their country. To his son, who was traveling in
France in 1829, he wrote:
"Bring home no foreign fancies which are inapplicable to our state of
society. It is very common for our young men to come home and appear
quite ridiculous in attempting to introduce their foreign fashions. It
should be always kept in mind that the state of society is widely
different here from that in Europe; and our comfort and character
require it should long remain so. Those who strive to introduce many of
the European habits and fashions, by displacing our own, do a serious
injury to the republic, and deserve censure. An idle person, with good
powers of mind, becomes torpid and inactive after a few years of
indulgence, and is incapable of making any high effort. Highly important
it is, then, to avoid this enemy of mental and moral improvement. I have
no wish that you pursue trade; I would rather see you on a farm, or
studying any profession.
"It should always be your aim so to conduct yourself that those whom you
value most in the world would approve your conduct, if your actions were
laid bare to their inspection; and thus you will be pretty sure that He
who sees the motive of all our actions will accept the good designed,
though it fall short in its accomplishment. You are young, and are
placed in a situation of great peril, and are, perhaps, sometimes
tempted to do things which you would not do if you knew yourself under
the eye of your guardian. The blandishments of a beautiful city may lead
you to forget that you are always surrounded, supported, and seen by
that best Guardian."
He was an eminently just man, and he carried this trait into the little
details of his domestic life. His household adored him; and his friends
were bound to him by ties unusually strong. He was firm and positive in
his own opinions; but he was tolerant of those who differed from him. He
was a man of quick, nervous temperament, but he possessed a powerful
self-control. He was a sincere and earnest Christian, and while
attaching himself to the sect of his choice, his sympathies and aid went
out to the whole Christian Church.
Denominational differences had no place in his heart. He stood on the
broad platform of the "faith of Christ crucified."
During the last years of his life, Mr. Lawrence was a constant invalid.
To a man of his temperament this was a great trial, but he bore it
unflinchingly, exhibiting, in the long years of feeble health which
preceded his death, a cheerfulness and patience which plainly showed the
aid of the Arm on which he leaned for support. For sixteen years he did
not take a meal with his family. His food and drink, of the simplest
kind, were regularly weighed, a pair of scales being kept in his chamber
for that purpose. He wrote to his friend President Hopkins, of Williams
College: "If your young folks want to know the meaning of epicureanism,
tell them to take some bits of coarse bread (one ounce or a little
more), soak them in three gills of coarse meal gruel, and make their
dinner of them, and nothing else; beginning very hungry, and leaving off
more hungry."
Mr. Lawrence continued in this condition until December, 1852, when he
was seized with a severe attack of the stomachic trouble to which he was
a martyr. He died peacefully, on the last day of that month and year, at
the age of sixty-six years, eight months, and eight days. He was buried
in Mount Auburn Cemetery, and was followed to the grave by a host of
friends who mourned him as a brother, and by strangers to whom his
kindness in life had brought relief from many a care and suffering.
CHAPTER V.
ANDREW V. STOUT.
There are few men in the city of New York who have won more fairly their
proud positions in the mercantile world than he whose name stands at the
top of this page. For more than forty years he has carried on a large
and increasing business with an energy, skill, and probity which could
not fail of success.
ANDREW V. STOUT was born in the city of New York, at No. 6 Canal Street,
or, as it was then called, Pump Street, about the year 1814. When he was
scarcely more than a child he was left fatherless, and thrown upon his
own resources for a living. He was a manly little fellow, and, young as
he was, was fully alive to the importance of the position he was
compelled to assume. He was resolved not only to support himself, but
also to acquire a good education, and by studying hard while most boys
are at play, mastered the ordinary English branches by the time he was
twelve years old.
He had a mother and sister to support, and applied himself manfully to
the task of accomplishing this. He was well grown for his age, and was
generally supposed to be several years older than he really was. When he
was fourteen years old he applied for and received a position as
assistant teacher of the English branches in one of the public schools
of the city. The trustees of the school supposed he was at least
eighteen or nineteen years old. Had his true age been known to them, it
is probable he would not have received the appointment. He was not
questioned upon the subject, and he was wise enough to keep his own
counsel. He performed the duties of his position to the entire
satisfaction of the school officials, and made such a good impression on
his friends that at the age of sixteen he was made assistant principal
in one of the most important and popular private schools of the day,
taught by Shepherd Johnson, a name well known to the old residents of
New York.
He was very young to fill this position, and, as may be supposed, it was
peculiarly trying to one whose learning was mainly self-acquired. He was
determined to succeed, however, and he applied himself energetically to
master the course he was teaching. He studied harder and more constantly
than any of his pupils, and was always fresh on the lessons for the day.
When he was sixteen years old he was so well grown and so mature that he
passed for twenty. Having succeeded so well in the management of his
English classes, he was offered the position of instructor of Latin,
with an increase of his salary. The offer at first dismayed him. He was
thoroughly ignorant of the Latin language, and utterly unprepared for
the duties demanded of him. He was very anxious to have the place,
however, for he needed the increase of salary offered him, and, after
hesitating a little while, accepted it. He purchased a Latin grammar,
and engaged a private tutor. He studied hard, and soon mastered the
rudiments of the language. In this way he managed to keep ahead of his
classes. If a question was asked him which he could not answer, he
postponed his reply, looked into the matter at night, and explained it
the next morning. By such hard study and patient efforts did this boy,
himself a mere novice, turn out what was admitted by all to be the best
drilled Latin class Shepherd Johnson's school had ever boasted of.
When he was eighteen years old he was made principal of Public School
No. 2 of New York. He was living at Bushwick, where he resided with his
mother and sister in a cozy little cottage, the garden of which was his
pride, since he tended it with his own hands. It was his custom to rise
every morning at four o'clock, and work in his garden until seven. Then
he rode into the city, and attended to his school duties until four
o'clock, when he returned home.
He was now in possession of a comfortable living; but he was not
satisfied to do this and nothing more. He was anxious to win fortune, to
enter upon a more active and stirring pursuit, and he kept himself
always on the watch for an opening. About the time he became the head of
the public school we have referred to, he commenced to engage in various
ventures of a commercial nature, devoting to them his evenings, and the
hours of the day not demanded by his school.
One of his relatives was a builder, with a fair trade, and had made some
money by erecting houses in New York. Young Stout, who had saved a
little money, proposed to him that they should take out a contract for
building a number of dwellings on the then fashionable thoroughfare of
East Broadway. The elder man was pleased with the plan, and at once
consented to it. The houses were built at a handsome profit; others
followed them, and by attending closely to this business, as well as his
other duties, Andrew Stout, by the time he was twenty years old, had
saved seventeen thousand dollars--a very large sum in those steady-going
days.
He was greatly aided by the custom of doing business on time, which
then prevailed, but he never allowed one of his notes to be protested,
and never asked for an extension. When he began business, he did so with
the firm resolve that he would conduct his most insignificant
transaction as a Christian man of honor. If he could not make money
honestly, he would remain poor. Every body saw the energy and judgment
with which he conducted his affairs, and the strict integrity which
marked them all, and he was not long in building up a reputation as a
business man of which any one might have been proud. The promptness and
apparent ease with which he met every contract, and took up every note,
caused it to be generally believed that he was a very rich man. Further
than this, it was known that he was a zealous and earnest Christian, one
who carried his religion into his business, and who lived up to his
professions. He was an active member of the Methodist Church, and the
business man of the congregation to which he belonged. In his hands its
finances prospered as they had never done before. Such was the
reputation of this young man, who had not yet attained his majority.
He held his position in the public school for several years after his
appointment to it, but the requirements of his business at length
compelled him to relinquish it.
In the midst of his prosperity Mr. Stout made one mistake. A friend with
whom he had been interested in building wished to procure some money
from the bank, and Mr. Stout was induced, with considerable reluctance,
to indorse his note for five thousand dollars. One false step in
business, as in other affairs of life, leads to another, and, in order
to save this money, Mr. Stout was forced to renew his indorsements until
his liabilities amounted to twenty-three thousand dollars. To his dismay
he was now informed by the builder for whose sake he had incurred this
risk, that he (the builder) had failed, without making provision for the
payment of the notes, and that Mr. Stout would have to account to the
bank for them.
"Several methods of relief were open to Mr. Stout. He was worth
seventeen thousand dollars, which he had earned by nights of toil, by
economy, and by daily and earnest attention to business. To pay the
notes would not only sweep away every penny that he had, but would leave
him six thousand dollars in debt. He had never realized one cent from
the money, and his name was used simply to accommodate the builder.
Besides, he was not of age, though nobody suspected that fact, and he
could repudiate his debts as a minor. He took no counsel, made no
statement of his affairs to any one, shut himself up in his own room,
and considered thoughtfully what he should do, and then followed out the
decision that he had reached. Having become bankrupt in money, he
concluded he would not be so in character. He had earned seventeen
thousand dollars, and could earn seventeen thousand dollars more. He did
confide in one friend. He went to a relative, and asked him to lend him
six thousand dollars, the sum necessary to take up all the notes. The
relative was astonished at the request, and insisted upon knowing the
facts in the case. Mr. Stout made a full and frank statement. It was met
with the remark, 'Well, Andrew, I thought you would be a rich man, but
if this is the way you do your business, you will never be worth any
thing,' But Mr. Stout did not want preaching, he wanted money; and as
the relative seemed to hesitate about loaning the money, as no security
was offered, Mr. Stout curtly told him he could do as he pleased about
it; he could get the money somewhere, and pay the notes. The money was
promised, and he went on his way.
"The bank watched the young financier with a great deal of interest.
The whole matter had been discussed often in the bank, and the wonder
was how young Stout would meet the blow. It was supposed that he would
ask for an extension; and it was agreed to give it to him, and to make
the time of payment convenient to his ability. Had he proposed to
compromise the matter by paying one-half, the bank would have accepted
it. That would have left him a capital of nearly eight thousand dollars
for a fresh start. Had he offered his seventeen thousand dollars on
condition that he was released from all liability, the notes would have
been canceled with alacrity. He did neither. He proposed no compromise,
asked no extension, and attempted to negotiate no settlement. When the
first note became due, he paid it. He did the same with the second and
third. After the third payment, he was called into the office of the
president. Reference was made to the notes, and to the fact that he had
obtained no benefit from the money. The president told him the bank was
ready to renew the notes, and to give him any accommodation that he
might ask. Mr. Stout simply replied that the blow was a heavy one, but
that having assumed the obligation, he should discharge it; that he
asked no favors, and as the notes matured he should take them up. He
paid every dollar due, and every one was certain that his wealth must be
very large. His manliness, pluck, and integrity, which carried him
through that crisis, became the sure foundation-stone on which his great
fortune was laid. He took the front rank among successful financiers,
and his honorable course in that crisis established his fame as an
honest man, in whom it would be safe to confide. Years of earnest and
active business life have not changed that character, nor allowed a blot
or stain to cloud that reputation."[A]
[Footnote A: Matthew Hale Smith.]
Some years later, Mr. Stout became a merchant. He established a
wholesale boot and shoe store, and engaged actively in that business. He
brought to his new calling the energy, prudence, and integrity which had
distinguished him all through his life, and was successful from the
first. He worked hard. His business hours were from seven in the morning
until six in the evening. During his busy season, four months in the
year, he worked until ten, and often until twelve, paying his employes
extra wages for labor performed after the regular business hours.
Sometimes he worked until four in the morning, but that did not deter
him from being in the store at the usual hour for opening. He was always
the last to go home, never leaving the store until the business of the
day was over and the house was closed. He extended his operations into
dry goods, meeting with equal success in this department. As his
business expanded, he was compelled to form various partnerships, but in
all these arrangements he reserved to himself, like Stewart, the
exclusive management of the finances.
About eighteen years ago, the shoe and leather merchants of the city
decided to organize a bank, in which their interests should be the
principal consideration. Mr. Stout engaged in the effort with great
enthusiasm, and the Shoe and Leather Bank of New York was at length
organized under the most auspicious circumstances. Mr. Stout was the
largest stockholder in the new bank, and was elected one of its
directors. His influence was potent in directing its first operations,
and the next year he was elected vice-president, in which position he
really had the control of the enterprise left to him. A year later he
was elected president of the bank, a position which he still holds,
being in point of service the oldest bank president in New York. Upon
questions of banking and finance, his views are listened to with great
respect by his associates, who have proof of their soundness in the
splendid success of the institution over which he presides; and it may
be truly said that there are few men in the city who enjoy so large a
share of the public confidence as is bestowed upon him.
As a citizen, he is public-spirited and liberal. Some years ago, he held
the office of city chamberlain, and during his administration of it a
difficulty arose in regard to paying the police force their wages.
Knowing that the men and their families would suffer if the money were
not promptly paid them, Mr. Stout generously advanced the necessary sum
from his private means, looking to the city to reimburse him. In
grateful acknowledgment of this practical sympathy for them, the force
presented him with a handsome testimonial. His fortune is immense, and
is used liberally in behalf of the cause of the Christian religion. His
charities are said to be large, but one rarely hears of them, so quietly
are they done. He is married and has a family.
No man's career holds out more encouragement to young men seeking to
rise than that of Andrew V. Stout. It shows that courage, patient
industry, and business capacity will bring fortune to any honest worker.
His uniform success speaks volumes in favor of a young man's striving to
lead a Christian life in the midst of his business cares and struggles.
God's blessing follows such an one at every step, and he will succeed in
the end, whatever trials may beset his path at first. It is a great
mistake to suppose that a man's success depends on his "sharpness."
Shrewdness is a valuable quality, but it must be coupled with a plain,
practical honesty, or it will amount to nothing in the end. A man must
be faithful to his God if he would have his work stand.
CHAPTER VI.
JONAS CHICKERING.
On Tremont Street, in the City of Boston, near the Roxbury line, there
stands an immense building of brick, said to be larger than any edifice
in the United States, save the Capitol at Washington. It is built in the
form of a hollow square, with a large court-yard in the center, and the
building and court-yard together cover an area of five acres. It is five
stories in height on the outer side, and six on the inner, the
court-yard being one story lower than the street. The building is two
hundred and sixty-two feet in length from east to west, and two hundred
and forty-five from north to south, the shorter distance being the
length on Tremont Street. The width of the building all around the
court-yard is fifty feet. It contains nine hundred windows, with eleven
thousand panes of glass, and when lighted up at night seems almost a
solid mass of fire. From five to six hundred men are employed here in
various capacities, and an immense steam engine of one hundred and
twenty horse-power furnishes the motive power for the machinery.
Altogether, it is one of the most prominent and interesting of all the
sights of Boston, and the visitor is surprised to learn that it is due
entirely to the energy and genius of one who, but thirty-four years
previous to its erection, came to Boston a penniless stranger. The
building is the famous piano-forte manufactory of Chickering & Sons, and
its founder was Jonas Chickering, the subject of this sketch.
JONAS CHICKERING was born at New Ipswich, New Hampshire, on the 5th of
April, 1798. His father was a blacksmith by trade, and employed his
leisure time in cultivating a small farm of which he was the owner. He
was esteemed by his neighbors as an upright, reliable man, and prudent
and careful in his temporal affairs. The family being poor, young Jonas
was required to do his share toward cultivating the farm, and received
only such education as was afforded by the district schools in the
vicinity. He was noted at an early age for his passionate love of music.
When a mere child, he learned to play on the fife, and was such a
proficient performer that he was called upon with the town drummer to
furnish music for the militia musters, which were then the pride of the
town. These were happy days for the lad, but his pleasure was marred by
the ridicule which the contrast between his slender figure and the
stalwart frame of the "six-foot drummer" caused the fun-loving
towns-people to indulge in. Soon after this he learned to play on the
clarionet, and when only seventeen or eighteen years old, was so
advanced in his art that he could read at sight music of the most
difficult character.
At the age of seventeen he was apprenticed to a cabinet-maker to learn
his trade, and remained with him for three years, exerting himself to
become thorough master of every detail of the business. Toward the close
of his apprenticeship, an event occurred which changed the whole current
of his life, and placed him in what proved to him the road to fame and
fortune.
One of the wealthiest citizens of New Ipswich was the fortunate owner of
a piano, the only instrument of the kind in the place; but his treasure
was almost useless to him, for the reason that it was out of tune and
seriously damaged in some respects. It had lain in this condition for a
long time, no one in or near the place being able to make the necessary
repairs. In this extremity the owner bethought him of Jonas Chickering,
who had acquired an enviable reputation for skill in his trade, and it
was thought that a good cabinet-maker ought of necessity to be a clever
piano-maker. Young Chickering, thus appealed to, consented to undertake
the task, as much for the purpose of becoming familiar with the
instrument as of earning the sum the owner of it proposed to pay for the
repairs. He had not the slightest knowledge of its internal
organization, but he believed that by patient investigation he could
master it, and he knew that the correctness of his ear would enable him
to tune it. He made a careful study of the instrument and of every
separate part, spent days over the task, discovered the injury and the
cause of it, and not only took the instrument to pieces and restored it
to its former condition, but did his work so well that the piano was
pronounced fully as good in every respect as when it was new. This was
not all. He discovered defects in the instrument which even its maker
was not able to remedy, and his fertile brain at once suggested to him a
plan for removing them.
Here was a chance for him, and he resolved to profit by it. He would
abandon cabinet-making and learn the manufacture of pianos. Then, when
master of his trade, he would make use of his discoveries, and earn both
fame and fortune. When his determination to change his business was made
known, his friends attributed it to his desire to be in the midst of
musical instruments, and where he could gratify his love of music; but
this was only a part of the motive which influenced him. He meant to
rise in the world, and he was sure that he held in his hands the means
of doing so.
In 1818, when twenty years old, he removed to Boston, and obtained
employment with a cabinet-maker. He did this in order to give him time
to look about him, to become familiar with the city and city life, and
to acquire such other information as would enable him to decide upon the
best means of putting his plans into execution. He saved his wages with
the greatest care, and at the end of his first year in Boston had
accumulated a modest little sum, which he meant should support him while
he was learning his new trade.
On the 15th of February, 1819, without the loss of a day, he began work
with a piano-maker.
He had now entered upon what he meant should be the business of his
life, and he was resolved that he would be master of it. From the first
he took rank in his employer's factory as the most careful workman in
it. He spared no pains to make his knowledge full in every detail. Time
was of no consequence compared with knowledge, and he was never anxious
to hurry through with his work. It soon came to be recognized by his
employer and fellow-workmen that he was the best fitted for those
portions of the work upon the instrument which required the greatest
patience as well as the greatest care, and the most difficult and
delicate work was always intrusted to him, his wages being, of course,
in proportion. Other men had no thought but to earn a living. This man
meant to win fame and fortune, and to enlarge the scope of that art to
which he was so passionately devoted. He labored with his mind as well
as his hands, familiarizing himself with every detail of the
manufacture, and devising in silence the means for improving the
instrument and the implements used in its construction. He could afford
to wait, to be slower than his fellows. Every moment spent over his
task made his workmanship the better, and opened to his mind new sources
of improvement. He spent three years as a journeyman, and then went into
business for himself. He associated himself with a Mr. Stewart, under
the firm of Stewart & Chickering.
Fifty years ago the piano-forte was a wretched piece of mechanism
compared with the superb instrument of to-day. It was originally a
progressive growth from the ancient lyre, through the harp, psaltery,
dulcimer, clavictherium, clavichord, virginal, spinet, harpsichord, to
the piano of Christofali in the early years of the last century. At the
period of Mr. Chickering's entrance into business, it was still very
imperfect, and the various manufacturers of the instrument were
earnestly endeavoring to discover some means of remedying the defects of
which they were all conscious. There are four divisions in the
manufacture of a piano, each of which requires great skill and care.
These are: First, The making of the framing and the sound-board; Second,
The stringing; Third, The keys and action; Fourth, The case and
ornamental work. The framing requires strength and simplicity. It is
this portion of the instrument which sustains the tension of the
strings, which in full to large-sized pianos is not less than from six
to twelve tons, and it is a matter of prime necessity that the portions
which serve as a strut or stretcher between the ends of the strings, and
which are to resist this enormous pull, must be made correspondingly
strong and rigid, since by any gradual yielding under the pull of the
strings, their lengths and tensions, and hence their tone, must undergo
proportionate change. In the old pianos, the frames were of wood, and it
was impossible to use any but small, short strings, for the reason given
above. Fullness and power were not to be thought of, and builders were
obliged to confine themselves to securing truthfulness of tone. A
multitude of causes, among which were the changes in the weather,
combined to render it impossible to keep the old-fashioned instrument in
tune. It was this defect which first attracted the attention of Jonas
Chickering, and his first endeavor was to produce an instrument which
would withstand the climatic changes which were so troublesome to the
old ones. He was fully aware of the fact that the piano trade in this
country was then so unimportant that it offered but little inducement to
a man who could manufacture only the old instrument; but he believed
that by producing an instrument of better proportions, and one fuller,
richer, and more lasting in tone, he could create a demand for it which
would insure the sale of all he could manufacture. His hope of success
lay not in the old, but in an improved and nobler instrument. That he
was correct in his belief, the magnificent instrument of to-day which
bears his name, and the lucrative business he has left to his sons,
amply demonstrate. Others besides himself were working for the same end,
and he knew that he would have to bear the test of determined and
intelligent competition. He applied himself to his purpose with
enthusiasm. He carefully studied the theory of atmospheric vibration and
musical combination, as well as an application of the principles of
mechanical philosophy to the construction of the instrument. He went
deep into the science involved in his work, into the philosophy of
melody. Passionately devoted to music, he was ambitious of placing that
which has been so truly called "the king of instruments" within the
reach of all lovers of harmony, and to give them the best instrument
that human invention could produce--an instrument which should not only
withstand atmospheric changes, but which should yield the richest,
fullest volume of melody, with the least exertion to the performer. His
progress was slow, but it was sure. Beginning with an improvement in
the action, he accomplished, in a great measure (in 1838), his plan for
preserving the permanence and purity of the tone of the instrument by
casting the entire iron framing with the parallel bars in one piece.
Iron had for some time before this been in general use for framing, but
the frame was cast in a few separate parts, which were put together by
means of bolts and screws, a plan which is still used to a considerable
extent in Europe. By his plan of casting the frame and its supporting
bars in one solid piece, Mr. Chickering not only prevented the frame
from yielding to the pull of the strings, thus securing permanence and
purity of tone, but was enabled to use larger frames and more strings,
which greatly increased the capacity of the instrument.
Several other improvements were made by him, the most important of which
was the invention, in 1845, of the circular scale for square pianos,
which is now in general use in this country and in Europe. "This consists
in giving to the row of tuning pins and wrest-planks--previously
straight in these instruments--a curved disposition, answering nearly to
an arc of a circle, the advantage being that the strings become less
crowded, larger hammers, and a more direct blow can be secured, and the
tone is both strengthened and improved." With a rare generosity, Mr.
Chickering declined to patent this improvement, which would have enabled
him to drive competition out of the market. He regarded it as so
necessary to a good piano that he declared that all makers ought to have
the use of it, as it would thus be within the power of all persons able
to purchase a piano to avail themselves of it, whether they bought a
"Chickering" or not. Such generosity is too rare to fail to receive the
praise it merits.
Mr. Chickering did not continue long in business with Mr. Stewart. The
latter withdrew in a few years, and Mr. Chickering carried on the
business alone. In 1830 he formed a partnership with Captain John
Mackay, a retired ship-merchant. In the new firm Captain Mackay took
charge of the finances and the office business, while Mr. Chickering
devoted himself entirely to the mechanical department. The operations of
the new house were very successful. The improvements made by Mr.
Chickering from the first created a demand for their instruments which
was sometimes so great that it was difficult to supply it. This demand
continued to increase, until the house was perfectly easy as to money
matters, and able to enlarge its facilities very greatly. It was Mr.
Chickering's design that each separate instrument should be an
improvement upon those which had preceded it, and he was careful that
this plan should not miscarry. In a few years the firm was enabled to
import the foreign materials needed, by the cargo, thus saving the
profit which they had hitherto been compelled to pay the importer.
Besides this saving, they were enabled to keep on hand a large stock of
the woods used in the instrument, and thus it was allowed to become more
thoroughly seasoned than that which they had been compelled to purchase,
from time to time, in small quantities. In 1841, Captain Mackay sailed
from Boston for South America, for the purpose of obtaining a supply of
the woods needed by the firm; but he never returned, and as no tidings
of him or his ship were ever received, it is supposed that the vessel
went down at sea with all on board.
Mr. Chickering now decided to continue the business without a partner.
His friends supposed that in assuming the management of the concern, in
addition to the direction of the mechanical department, and the constant
mental labor to which he subjected himself in his efforts to improve the
piano, he was undertaking more than he was capable of performing. They
feared his health would break down under it. Besides, it was generally
believed that, in spite of Mr. Chickering's undoubted skill in his own
department, he was not much of a business man. He was confident of his
own ability, however, and did not hesitate to assume the new
responsibility.
The business of which he now became the owner was very heavy and
extensive. Soon after the beginning of his connection with Captain
Mackay, the firm erected a large factory for the purpose of carrying on
their business. One hundred hands were employed in it when opened, but
in a few years it was necessary to employ more than twice that number,
so rapidly did the business increase. The supply of materials needed was
ample and of the very best quality, for Mr. Chickering never allowed an
inferior article to be used. The warerooms were large and handsomely
fitted up, and were filled with instruments ranging in price from a
thousand dollars downward. It was generally believed that while Mr.
Chickering's genius had created the demand for the pianos, it was
Captain Mackay's business knowledge and experience that had placed
affairs on their present footing, and when Mr. Chickering proposed to
buy Captain Mackay's interest from his heirs, which was valued at
several hundred thousand dollars, there was a very general belief, which
found expression, that he was incurring certain ruin. The condition of
the sale was that the purchase-money should be divided into
installments, for each of which Mr. Chickering should give his note,
secured by a mortgage on the premises. At Mr. Chickering's request each
note was made payable "on or before" a given day. The lawyer who
conducted the transaction smiled skeptically as he inserted this clause,
and asked the purchaser if he _ever_ expected to pay the notes at all.
"If I did not expect to pay them promptly, I should not give them," was
the simple reply. He was as good as his word. The notes were met
promptly, and although Captain Mackay's family requested that they might
stand as an investment for them, Mr. Chickering took up the last one at
its maturity.
With the business in his own hands, Mr. Chickering continued its
operations, displaying an ease in his mercantile transactions which
astonished and delighted his friends. The business prospered to a
greater degree than before, and all the while Mr. Chickering continued
his labors for the improvement of his instruments with still greater
success than in former years. His pianos were universally regarded as
the best in the market, and his competitors were unable to excel him.
Although conducting a business which required the constant exercise of
the highest mercantile talent, he did not relax his energy in the
mechanical department. To the end of his life, long after he had become
a wealthy and prominent man, he had his own little working-cabinet, with
an exquisite set of tools, with which he himself put the finishing touch
to each of his splendid instruments, a touch he would not intrust to any
other hands.
His competitors did all in their power to equal him, but he distanced
them all. One of them adopted a most startling expedient. He obtained
permission from the Legislature of Massachusetts to change his name to
_Chickering_, and at once sent out his instruments marked with his new
name, his object of course being to deceive the public, and Jonas
Chickering had the mortification of seeing the inferior instruments of
another maker mistaken for his own. He promptly laid before the
Legislature a petition for redress, setting forth the facts of the case
and the motives of his rival. The result was that the Legislature
reconsidered its action, and compelled the bogus Chickering to resume
his original name.
Mr. Chickering was noted for his simplicity and straight-forwardness in
business transactions. Conscious of his own integrity, he listened to no
proposition of a doubtful character, nor would he ever allow his credit
as a merchant to be questioned with impunity. Upon one occasion, he
applied through his clerk to the bank, with which he had dealt for many
years, for an accommodation which he needed. The president of the bank
sent for him, and told him that security would be required.
"I shall give you none," he replied. "I have done my business at this
bank for a long time, and if you do not know me, I shall apply where I
am better known."
The president was firm in his position, and Mr. Chickering applied to
another bank, which readily granted him the desired discount, and to
which he at once transferred his business, which was worth to the bank
about ten thousand dollars a year. Shortly after, a director of the
institution at which he had formerly dealt called on him, and urged him
to restore his business to the bank, assuring him that in future it
would readily grant him any accommodation he might desire.
"No," he replied; "I will deal with no institution which, having had the
opportunity of knowing me, suspects my responsibility."
Again having need of accommodation, he sent his notes for a large sum to
one of the city banks for discount. The president said an indorser would
be required.
"I shall indorse them myself," said Mr. Chickering.
"That will never do," replied the president.
"Very well," was the simple answer, and, without further words, he took
the notes to another bank, which promptly loaned him the money on them.
He tolerated no irregularity in his own business. He was true to the
spirit as well as to the letter of a contract, and never, during the
whole course of his long life, was he guilty of a transaction in which
the most rigid moralist could find a taint of sharp practice. What a
refutation of the theories of those who hold that cunning and trickery
are unavoidable some time in the course of a long and successful
mercantile career lies in the story of this man, who, beginning life
penniless, filled with a burning ambition to be rich and famous, never
swerved from the straight path of integrity, and by the exercise of only
the highest traits of his nature more than realized his boyish dreams!
Ponder it well, young man, and learn from it that honesty is indeed the
best policy in any calling.
Mr. Chickering had married early in life, and now had three sons just
entering upon manhood. These were carefully educated at the public
schools for which Boston is so justly famed, and then put into their
father's factory to learn the mechanical part of the business. It was
the father's ambition to be succeeded by his sons, but he was not
willing to trust the labor of his life to ignorant or incompetent hands.
At the age of seventeen, Thomas Chickering, the eldest son, was taken
from school, and, under his father's eye, taught every detail of the
mechanical branch of the business, until he understood it as well as the
senior Chickering himself. George, the second son, in due time passed
through the same course of training; while Francis, the youngest, was
brought up in the warehouse. The father thoroughly imbued his sons with
his own system and energy, and to-day we see the result. The firm of
Chickering & Sons is still the most prominent in America. Thomas is now
the acting head of the house, and has led it on to continued success;
Francis is the presiding genius of the mechanical department, and has
made many important improvements in the field in which his father won
success; and George exercises a general supervision at the immense
factory in Boston. The mantle of the father has fallen upon the sons,
and his labors have found their highest reward in their success.
Mr. Chickering's good fortune was not entirely uninterrupted. On the 1st
of December, 1852, his factory was burned to the ground, with all its
valuable patterns, stock, etc., involving a loss to him of two hundred
thousand dollars. The interruption to his business was very serious,
apart from the loss of his property. Expressions of sympathy poured in
upon him from his friends, coupled with offers of pecuniary assistance
in his efforts to reestablish his business. His disaster seemed merely
to inspire him with fresh energy, but the kindness of his friends
entirely overcame him.
[Illustration: "MY MEN SHALL NOT SUFFER."]
He wasted no time in vain regrets, but at once went to work. He was
fifty-four years old, but he showed an energy and determination which
more than rivaled the fire of his young manhood. The loss of his factory
was not only a severe blow to him, but to the three hundred workmen who
had been employed in it, and who were dependent upon their wages for
their support. His first care was to assure them that they should not
suffer, but that they should continue to receive their wages as
regularly as though nothing had happened to interrupt their labor. He
had always been kind and generous to his employes, paying liberal wages,
and rewarding especial merit, but this act of kindness did more to
endear him to them than any previous benefaction. Having provided for
his men, he set to work to prepare temporary accommodations for his
business, and then began his arrangements for the construction of a new
factory. He took a great degree of interest in the plans for the new
building, the architect being almost entirely guided by his suggestions,
and the result of his labors is the magnificent building to which
reference was made at the opening of this chapter. He did not live to
see it completed, however. He died at the house of a friend from the
rupture of a blood-vessel, produced, it is believed, by severe mental
labor, on the 8th of December, 1853. His fortune at the time of his
death was estimated at a quarter of a million of dollars. His sons
assumed the charge of the business, which they still conduct.
The loss of Mr. Chickering was felt by all classes of his
fellow-citizens--especially by the poor. To them he had been a kind and
generous friend. Distress never appealed to him in vain, and he proved a
faithful steward of the riches committed to his care. Yet he performed
his charities with such a modesty and reticence that few beside the
grateful recipients were aware of them. Indeed, it was his custom to
enjoin secrecy upon those whom he assisted; but they would not remain
quiet. His liberality is in striking contrast with the closeness of many
who were worth more than twenty times his wealth, but who lacked his
warm and sympathizing nature.
CHAPTER VII.
NICHOLAS LONGWORTH.
The grape culture of the United States is yet in its infancy. Although
the annual wine product is estimated at nearly three millions of
gallons, there can be no doubt that ere many years shall have elapsed
America will rank as one of the most important wine countries of the
world. California is already extending her vineyards for miles along her
smiling valleys, where the clear sky and the balmy air, which are
unchangeable at the season of the grape harvest, permit a degree of
perfection in the fruit unattainable in any European country. Already
her wines are commanding an enviable place in the markets of the world,
with no apparent limits to the growing demand for them. The hillsides of
the lower Ohio Valley are lined with thriving vineyards, whose rich
clusters of Catawba and Isabella grapes delight the eye on every hand,
and thousands of acres are now given to successful grape culture, where
formerly only a few straggling vines were seen. More than five hundred
thousand gallons of wine are now annually produced in the neighborhood
of Cincinnati alone, and find a market in that city, and what was but a
few years ago a mere experiment is now one of the chief sources of the
wonderful prosperity of the Ohio Valley, and one of the most important
features in the commerce of the Queen City of the West. The success
which has attended this branch of our industry must be a matter of
congratulation to the whole country, and the man to whose courage,
energy, and liberality it is mainly due must be regarded as a public
benefactor.
This man, NICHOLAS LONGWORTH by name, was born at Newark, New Jersey, on
the 16th of January, 1782. His father had been a man of large property,
but in consequence of being a Tory during the Revolution, his
possessions were confiscated, and he and his family impoverished. Young
Nicholas's childhood was passed in indigence, and it is said that he was
apprenticed to a shoemaker, when a mere lad, to learn the trade as a
means of livelihood. However this may be, it is certain that when very
young he went to South Carolina as a clerk for his elder brother. The
climate of the South, however, did not suit his health, and he returned
to Newark, and began the study of the law.
He was poor, and the East was overcrowded, even at that early day, and
offered but few inducements to a young man entirely dependent upon his
own efforts. Ohio was then the "Far West," and emigration was setting in
toward it rapidly. Those who had seen the country related what then
seemed marvelous tales of its wonderful fertility and progress. Few
professional men were seeking the distant land, and Longworth felt
convinced that the services of such as did go would assuredly be in
demand, and he resolved to cast his lot with the West.
In 1803, at the age of twenty-one, he removed to the little village of
Cincinnati, and, having fixed upon this place as his future home,
entered the law office of Judge Jacob Burnet, long the ablest jurist in
Ohio. He soon won the confidence and esteem of his instructor, and
succeeded so well in his studies that in an unusually short time he was
admitted to the bar.
He entered upon the practice of his profession with energy, and soon
acquired a profitable business, which increased rapidly. He was a man of
simple habits, and lived economically. His savings were considerable,
and were regularly invested by him in real estate in the suburbs of the
town. Land was cheap at that time, some of his lots costing him but ten
dollars each. Long before his death they were worth more than as many
thousands. He had a firm conviction that Cincinnati was destined to
become one of the largest and most flourishing cities in the Union, and
that his real estate would increase in value at a rate which would
render him wealthy in a very few years.
His first client was a man accused of horse-stealing, in those days the
most heinous offense known to Western law. Longworth secured his
acquittal, but the fellow had no money to pay his counsel, and in the
absence of funds gave Longworth two second-hand copper stills, which
were his property. These the lawyer accepted, thinking that he could
easily dispose of them for cash, as they were rare and valuable there in
those days. They were in the keeping of Mr. Joel Williams, who carried
on a tavern adjacent to the river, and who was afterward one of the
largest property-holders in Cincinnati. Mr. Williams was building a
distillery at the time, and, as he had confidently reckoned upon using
the two stills in his possession, was considerably nonplussed when
Longworth presented his order for them. In his extremity he offered to
purchase them from the lawyer for a lot of thirty-three acres of barren
land in the town, which was then worth little or nothing. Longworth
hesitated, for although he had an almost prophetic belief in the future
value of the land, he was sorely in need of ready money; but at length
he accepted the offer. The deed for the land was made out in his name,
and the stills became the property of Mr. Williams. The distillery was
built, and its owner realized a fortune; but Longworth did more. His
thirty-three acres of barren land were soon in the very heart of
Cincinnati, and long before his death were valued at two millions of
dollars.
The foresight of Mr. Longworth was fully justified by the course of
events. The growth of Cincinnati was almost marvelous in its rapidity.
In 1802, it contained about 800 inhabitants; in 1810, 2,540; in 1820,
9,060; in 1830, 24,831; in 1840, 46,338; in 1850, 118,761; and in 1860,
just three years before Mr. Longworth's death, 171,293 inhabitants. The
reader can easily imagine the immense profits which a half century's
increase placed in the hands of the far-seeing lawyer. It seems almost
like reading some old fairy tale to peruse the accounts of successful
ventures in real estate in American cities. They have sprung up as if by
magic, and it is impossible to say where their development will end.
Said a gentleman of less than thirty-five years of age to the writer of
these pages, "I am the oldest native-born citizen of Chicago. When I
first saw the light, my native place could not boast even the dignity of
a village; and young as I am, I have witnessed all this wonderful
growth." The prosperity of Cincinnati was scarcely less marked, as the
career of Mr. Longworth shows. The investment of a comparatively
insignificant sum laid the foundation of his fortune, and the first
counsel fee he ever earned, a sum trifling in itself, placed him in
possession of millions.
Mr. Longworth continued carefully to invest his gains in real estate.
The prices paid by him increased, of course, with the rise in the value
of property, but as he was persuaded that the limit had not yet been
reached, he extended his operations without fear of loss. He sold many
of his original purchases, but continued until the day of his death the
largest land-owner in the city. In 1850 his taxes were over $17,000, and
in the same year the taxes of William B. Astor amounted to $23,116. At
the time of his death Mr. Longworth's estate was valued at fifteen
millions of dollars, and is doubtless worth fully one-third more at the
present day.
Mr. Longworth retired from the practice of the law in 1819, to devote
himself to the management of his property, which was already
sufficiently important to require his undivided attention. He had always
been an enthusiast in horticultural matters, and believing that the
climate of the Ohio Valley was admirably adapted to the production of
grapes, had for some time been making experiments in that direction; but
he fell into the error of believing that only the foreign vines were
worth cultivating, and his experiments were unsuccessful. The foreign
grape did not mature well, and the wine produced from it was not good.
In 1828 his friend Major Adlum sent him some specimens of the Catawba
grape, which he had procured from the garden of a German living near
Washington City, and be began to experiment with it in his own vineyard.
The Catawba grape, now so popular and well-known throughout the country,
was then a comparative stranger to our people, and was regarded even by
many who were acquainted with it as unfit for vintage purposes. It was
first discovered in a wild condition about 1801, near Asheville,
Buncombe County, North Carolina, near the source of the Catawba River.
General Davy, of Rocky Mount, on that river, afterward Senator from
North Carolina, is supposed to have given the German in whose garden
Major Adlum found the grape a few of the vines to experiment upon.
General Davy always regarded the bringing of this grape into notice as
the greatest act of his life. "I have done my country a greater benefit
in introducing this grape into public notice," said he, in after years,
"than I would have done if I had paid the national debt."
Mr. Longworth's experiments with the Catawba were highly successful,
and induced him to abandon all his efforts with foreign vines, and
undertake only the Catawba, to which he afterward added the Isabella. He
now entered systematically upon grape-growing. He established a large
vineyard upon a hillside sloping down to the river, about four miles
above the city, and employed German laborers, whose knowledge of
vine-dressing, acquired in the Fatherland, made them the best workmen he
could have. He caused it to be announced that all the grape juice
produced by the small growers in the vicinity would find a cash
purchaser in him, no matter in what quantities offered. At the same time
he offered n reward of five hundred dollars for any improvement in the
quality of the Catawba grape.
The enthusiasm which he manifested, as well as the liberality of his
offer, had a decidedly beneficial effect upon the small growers in the
neighborhood. "It proved a great stimulus to the growth of the Catawba
vine in the country around Cincinnati," to know that a man of Mr.
Longworth's means stood ready to pay cash, at the rate of from a dollar
to a dollar and a quarter a gallon, for all the grape-juice that might
be brought to him, without reference to the quantity. It was in this
way, and by urgent popular appeals through the columns of the
newspapers, that he succeeded, after many failures, and against the
depressing influence of much doubt and indifference, in bringing the
enterprise up to its present high and stable position. When he took the
matter in hand there was much to discourage any one not possessed of the
traits of constancy of purpose and perseverance peculiar to Mr.
Longworth. Many had tried the manufacture of wine, and had failed to
give it any economical or commercial importance. It was not believed,
until Mr. Longworth practically demonstrated it, that a native grape
was the only one upon which any hope could be placed, and that the
Catawba offered the most assured promise of success, and was the one
upon which all vine-growers might with confidence depend. It took years
of unremitted care, multiplied and wide-spread investigations, and the
expenditure of large sums of money, to establish this fact, and bring
the agricultural community to accept it and act under its guidance. The
success attained by Mr. Longworth soon induced other gentlemen resident
in the vicinity of Cincinnati, and favorably situated for the purpose,
to undertake the culture of the Catawba, and several of them are now
regularly and extensively engaged in the manufacture of wine. The
impetus and encouragement thus given to the business soon led the German
citizens of Hamilton County to perceive its advantages, and, under their
thrifty management, thousands of acres, stretching up from the banks of
the Ohio, are now covered with luxuriant and profitable vineyards,
rivaling in profusion and beauty the vine-clad hills of Italy and
France. The oldest vineyard in the county of Hamilton is of Mr.
Longworth's planting.
Mr. Longworth subsequently increased the size of his vineyard to two
hundred acres, and toward the close of his life his wine houses annually
produced one hundred and fifty thousand bottles of wine. His vaults
usually contained a stock of three hundred thousand bottles in course of
thorough ripening.
His cellars were situated on the declivity of East Sixth Street, on the
road to Observatory Hill. They occupied a space ninety feet by one
hundred and twenty-five in size, and consisted of two tiers of massive
stone vaults, the lower of which was twenty-five feet below the surface
of the ground. The manufacture of the wine was placed under the charge
of a celebrated chemist from Rheims, and the mode of preparation was as
follows:
After the pressing of the grape, the juice is subjected to the vinous
fermentation, by which ten or eleven per cent, of alcohol is developed.
In the following spring, it is mixed with a small quantity of sugar, and
put into strong bottles, the corks of which are secured with twine and
wire. The sugar accelerates a second fermentation, which always takes
place about this time, and thus a strong movement is produced inside the
glass, which generates gas enough to burst the vessels briskly, adding
thereby considerably to the cost. This is known as the gaseous
fermentation, and the effect of it is to render the wine more
enlivening, more stinging to the taste, and more fruity. "This last
effect results from this, that the flavor of the fruit mostly passes off
with the carbonic acid gas, which is largely generated in the first or
vinous fermentation, and in a less degree in this second or gaseous
fermentation." It is impossible to avoid the loss of the flavor in the
first fermentation, but the strong bottles and securely-fastened corks
preserve it in the second. The liquid, which is muddy at first, becomes
clear in about a year, a thick sediment having collected at the bottom
of the bottle. The bottles are then placed in racks, with their necks
downward, and are shaken vigorously every day for about three weeks.
This forces the sediment to settle down in the neck against the cork.
When it is all in the neck, the wires are cut, and the cork blown out by
the gas, carrying the sediment with it. Fresh sugar, for sweetness, is
now added, new corks are driven in and secured, and in a few weeks the
wine is ready for the market.
Mr. Longworth continued his wine trade with great success for about
twenty-five years, and though for some time his expenditures were
largely in excess of his income from this source, he at length reaped a
steady and increasing profit from it, which more than reimbursed him for
his former losses. He was very fond of the strawberry, and succeeded,
by careful and expensive cultivation, in making several very important
improvements in that delicious fruit. His experiments in the sexual
character of the strawberry are highly interesting, but must be passed
by here. He manifested no selfishness with respect to his fruits. He was
anxious that their cultivation should become general, and his
discoveries and improvements were always at the service of any and every
one who desired to make use of them.
He was thoroughly devoted to his adopted home, and anxious to secure its
steady improvement. When it was proposed to establish an observatory,
the Mount Adams property, then owned by him, was regarded as the most
fitting site for it. He was asked to name the price for which he would
sell the property. To the astonishment of the parties in charge of the
enterprise, he made a free gift of the land--four acres in extent--to
the trustees. A gentleman who had hoped to dispose of some of his own
property for this purpose charged Mr. Longworth, through the press, with
being influenced by a desire to improve his adjoining property by the
erection of the observatory on Mount Adams. Longworth promptly replied
that if the writer of the article in question would donate four acres of
his own property for an observatory, he (Longworth) would put up, at his
own expense, a building on it equal to that which had been erected on
Mount Adams, and transfer the latter place to the city as a permanent
pleasure ground. He quietly added that in this way his accuser might
himself receive, for his adjacent property, all the benefits of such an
improvement, and at the same time win for himself the lasting gratitude
of the people of Cincinnati. This settled the matter, and no more was
heard from the other side.
"Longworth," says one who knew him, "is a problem and a riddle--a
problem worthy of the study of those who delight in exploring that
labyrinth of all that is hidden and mysterious, the human heart; and a
riddle to himself and others. He is a wit and a humorist of a high
order; of keen sagacity and shrewdness in many other respects than in
money matters; one who can be exact to a dollar, and liberal, when he
chooses, with thousands; of marked peculiarity and tenacity in his own
opinions, yet of abundant tolerance to the opinions, however
extravagant, of others--a man of great public spirit and sound general
judgment.
"In addition to all this, it would be difficult to find an individual of
his position and standing so perfectly free from pride, in the ordinary
sense. He has absolutely none, unless it be the pride of eccentricity.
It is no uncommon circumstance for men to become rich by the
concentration of time, and labor, and attention to some one object of
profitable employment. This is the ordinary phase of money-getting, as
closing the ear and pocket to applications for aid is that of
money-saving. Longworth has become a rich man on a different principle.
He appears to have started upon the calculation that if he could put any
individual in the way of making a dollar for Longworth, and a dollar for
himself at the same time, by aiding him with ground for a lot, or in
building him a house on it; and if, moreover, he could multiply cases of
the kind by hundreds, or perhaps thousands, he would promote his own
interests just in the same measure as he was advancing those of others.
At the same time he could not be unconscious that, while their half was
subdivided into small possessions, owned by a thousand or more
individuals, his half was a vast, boundless aggregate, since it was the
property of one man alone. The event has done justice to his sagacity.
Hundreds, if not thousands, in and adjacent to Cincinnati, now own
houses and lots, and many have become wealthy, who would, in all
probability, have lived and died as tenants under a different state of
case. Had not Mr. Longworth adopted this course, he would have occupied
that relation to society which many wealthy men now sustain, that of
getting all they can and keeping all they get."
In politics, Mr. Longworth was a Whig, and afterward a Republican.
During the famous Clay campaign he was asked to give one hundred dollars
to help defray the expenses of the party.
"I never give something for nothing," said he. "We might fail to elect
Clay, as we did before, and I should fling away the hundred dollars."
The applicant, who was himself a man of wealth, assured him that there
was no doubt of Clay's election.
"There can be no chance of your losing," he said.
"Well," replied Longworth, "I'll tell you what I will do. I will give
you the hundred dollars, but mind, you shall be personally responsible
to me for its return if Clay is not elected."
The offer was accepted; and when the campaign resulted in the defeat of
Clay, Longworth demanded his money from the politician, who was
compelled to return it out of his own pocket.
In his own way--and a quaint, singular way it was--Mr. Longworth was
exceedingly charitable. Long after he was worth millions, and when every
moment of his time was valuable, he was supernumerary township trustee.
This was an office which required the expenditure of a considerable
portion of his time, and brought him in constant contact with some of
the most wretched of the lowest class of the poor. He was always in his
office, at stated times, and with a patience and kindness worthy of all
admiration, the millionaire listened to their sad tales, and provided
such aid as was necessary, oftentimes giving it out of his own purse
when the public funds failed.
He was a bitter foe to vagabondage and mendicity. If people in need were
willing to work, he would place them in the way of doing so. He was the
owner of a stone quarry on Deer Creek, the traces of which may still be
seen in the lines of the new Gilbert Avenue; and he kept in his office
a supply of picks and shovels. When a stout beggar asked him for alms,
he would inquire if he was willing to go to work. If answered
affirmatively, he would give him a pick and shovel, and start him for
the quarry, where the wages were promptly paid out every night. Many
availed themselves of the opportunity, and worked for him faithfully;
but others gave the quarry "a wide berth," and sold the pick and shovel
for money or liquor. It was his custom to buy large quantities of bread
tickets from the bakers, and to distribute them to those whom he
considered worthy; and he would also keep on hand large quantities of
shoes, dry goods, etc., which he gave away in the same manner.
Mr. Frank Pentland, who was once in his employ, relates the following
incident:
"One morning, just after Mr. Longworth had gone to his office, near the
Third-Street entrance, where he was accustomed to receive applicants for
charity, he was accosted by a man who craved assistance. In answer to a
question as to his needs, he replied that his main want was a pair of
shoes, and a glance at his feet showed that he spoke truthfully. Mr.
Longworth appeared 'to take his measure' at a glance, and impulsively
shaking his right foot (he seldom wore his shoes tied), kicked the shoe
over to the applicant, saying:
"'Try that on, my man. How does it fit?'
"'Illigant, yer honor,'
"'Well, try that, now,' said he, kicking off the other. 'How will they
do?'
"Illigant, yer honor; illigant! May many a blessing'--
"'Well, well, go now--that'll do,' and turning to Pentland, who was then
a young boy in his service, ordered him to the house to get another
pair. Frank obeyed, but was told by Mrs. Longworth that those he wore
away from the house were all that he had. The result was that Frank was
hurried off to William Hart's shoe store, on Fifth Street, for new ones,
with instructions to 'Ask Mr. Hart for the kind I always buy, and don't
pay over a dollar and a half for them.'"
Yet many persons charged this man with stinginess--a charge to which
every rich man lays himself open who does not give to all who ask him.
Even the rich must refuse sometimes, for there is no reason why they
should answer _all_ the calls made upon them--a course which would soon
impoverish them. They must discriminate somewhere, and how this shall be
done is a question which each must decide for himself. Longworth
exercised this discrimination in an eccentric manner, eminently
characteristic of him. He invariably refused cases that commended
themselves to others. A gentleman once applied to him for assistance for
a widow in destitute circumstances.
"Who is she?" asked the millionaire. "Do you know her? Is she a
deserving object?"
"She is not only a woman of excellent character," answered his friend,
"but she is doing all in her power to support a large family of
children."
"Very well, then," said Mr. Longworth, "I shan't give a cent. Such
persons will always find a plenty to relieve them."
He was firm, and turned coldly from the entreaties of his friend. Yet
he opened his purse liberally to those whom others refused. Vagabonds,
drunkards, fallen women, those who had gone down far into the depths of
misery and wretchedness, and from whom respectable people shrank in
disgust, never appealed to him in vain. "The devil's poor," he
whimsically called them. He would listen to them patiently, moved to the
depths of his soul by their sad stories, and would send them away
rejoicing that they were not utterly friendless. "Decent paupers will
always find a plenty to help them," he would say, "but no one cares for
these poor wretches. Every body damns them, and as no one else will help
them, I must." Yet he aided them in such a manner as to encourage them
to rise above their wretchedness.
In his personal appearance Mr. Longworth was not prepossessing. He was
dry and caustic in his remarks, and rarely spared the object of his
satire. He was plain and careless in his dress, looking more like a
beggar than a millionaire. He cared nothing for dress, except, perhaps,
that he preferred common clothes to fine ones. One of his acquaintances
relates the following story in illustration of this phase of his
character:
"Many winters ago, it will be remembered that a style of striped goods
was quite popular with poor people on account of its cheapness, and that
it acquired the name of 'Hard Times.' Every body with scant purses wore
coats or pants of it, for the reason that they could not very well buy
any other kind. As the story goes, it appears that 'Old Nick,' as he was
familiarly called, invested in an overcoat of this material, and took
great pride in wearing it, much to the annoyance of the women folks. It
happened that one cold, stormy night the faithful family coachman was at
the house without an overcoat, and Mrs. Longworth, after very feelingly
depicting his forlorn condition to her husband, solicited the privilege
of giving him the aforesaid overcoat. Much to her gratification, Mr.
Longworth assented, and the coachman wore off the 'Hard Times,' the good
wife replacing it by an elegant broadcloth that she had quietly provided
for the occasion. The next morning 'Old Nick' very innocently (?)
overlooked the new coat, and went off to make his usual morning rounds
without one; but it would be impossible to portray the annoyance of the
household when they saw him returning to dinner wearing a duplicate of
the veritable 'Hard Times,' and for weeks afterward it was no uncommon
occurrence to see the 'master and man' flitting about the old homestead
dressed in their gray stripes."
The shabbiness of his dress once led to an amusing adventure, which he
enjoyed very much. Climbing one of the hilly streets of the city one
broiling summer day, he sat down on a pile of bricks, under the cool
shade of a tree, to rest. Taking off his well-worn hat, he laid it on
his knee, and closing his eyes, sat enjoying the breeze which had just
then sprung up. He was very tired, and his whole figure expressed his
weariness. As he sat there in his shabby dress, with his eyes closed,
and his hat resting on his knees, he looked the very picture of a blind
beggar soliciting charity. For such, indeed, he was mistaken by a
working man who passed by a few minutes later, and who, pitying the
supposed unfortunate, tossed a few pennies into his hat. The noise of
the coppers made the old man open his eyes and look up; and to his
amazement the workman recognized in the object of his charity Nicholas
Longworth, the millionaire. Mr. Longworth looked at him a moment in his
dry, quizzical way, and then, thanking him politely, put the coins in
his pocket, and, closing his eyes, once more resumed his former
position.
Mr. Longworth had erected a magnificent mansion in the midst of his
vineyard. He gathered there a fine library, and a collection of
paintings, statuary, and other art treasures, which were his pride. He
died there on the 10th of February, 1863, at the age of eighty-one. His
loss was severely felt by the community, especially by his "devil's
poor," for whom he had cared so tenderly.
CHAPTER VIII.
GEORGE PEABODY.
It is not often that men who pass their lives in the acquisition of
money are able to retain the desire to give it to others who have had no
share in the earning of it. In European countries, the wealthy merchant
commonly uses his fortune for the purpose of founding a family, and
securing sometimes a title of nobility. His wealth is entailed, that it
may remain in his family and benefit remote generations; but few save
those of his own blood enjoy any benefit from it, and the world is no
better off for his life and success than if he had never been born. In
America, instances of personal generosity and benevolence on a large
scale are of more common occurrence than in the Old World. We have
already borne witness to the munificence of Girard, Astor, Lawrence,
Longworth, and Stewart, and shall yet present to the reader other
instances of this kind in the remaining pages of this work. We have now
to trace the career of one who far exceeded any of these in the extent
and magnitude of his liberality, and who, while neglecting none
connected with him by ties of blood, took the whole English-speaking
race for his family, and by scattering his blessings far and wide on
both sides of the Atlantic, has won a proud name
"As one who loved his fellow-men."
[Illustration: GEORGE PEABODY.]
GEORGE PEABODY came of an old English family, which traced its
descent back to the year of our Lord 61, the days of the heroic
Boadicea, down through the brilliant circle of the Knights of the Round
Table, to Francis Peabody, who in 1635 went from St. Albans, in
Hertfordshire, to the New World, and settled in Danvers, Massachusetts,
where the subject of this memoir was born one hundred and sixty years
later, on the 18th of February, 1795. The parents of George Peabody were
poor, and hard work was the lot to which he was born, a lot necessary to
develop his sterling qualities of mind and heart. He was possessed of a
strong, vigorous constitution, and a quick, penetrating intellect. His
education was limited, for he was taken from school at the age of
eleven, and set to earning his living. Upon leaving school, he was
apprenticed to a Mr. Sylvester Proctor, who kept a "country store" in
Danvers. Here he worked hard and faithfully for four or five years,
devoting himself, with an energy and determination surprising in one so
young, to learn the first principles of business. His mind matured more
rapidly than his body, and he was a man in intellect long before he was
out of his teens. Having gained all the information it was possible to
acquire in so small an establishment, he began to wish for a wider field
for the exercise of his abilities. A retail grocery store was no longer
the place for one possessed of such talents, and thoroughly conscious of
them at such an early age, and it was natural that he should desire some
more important and responsible position.
Accordingly, he left Mr. Proctor's employment, and spent a year with his
maternal grandfather at Post Mills village, Thetford, Vermont. "George
Peabody's year at Post Mills," says a writer who knew him, "must have
been a year of intense quiet, with good examples always before him, and
good advice whenever occasion called for it; for Mr. Dodge and his wife
were both too shrewd to bore him with it needlessly.
"It was on his return from this visit that he spent a night at a tavern
in Concord, N.H., and paid for his entertainment by sawing wood the next
morning. That, however, must have been a piece of George's own voluntary
economy, for Jeremiah Dodge would never have sent his grandson home to
Danvers without the means of procuring the necessaries of life on the
way, and still less, if possible, would Mrs. Dodge...."
[Illustration: PEABODY PAYING FOR A NIGHT'S LODGING.]
"The interest with which Mr. Peabody remembered this visit to Post Mills
is shown by his second visit so late in life, and his gift of a
library--as large a library as that place needs. Of its influence on his
subsequent career, of course, there is no record. Perhaps it was not
much. But, at least, it gave him a good chance for quiet thinking, at an
age when he needed it; and the labors of the farm may have been useful
both to mind and body."
At the age of sixteen, in the year 1811, he went to Newburyport, and
became a clerk in the store of his elder brother, David Peabody, who was
engaged in the dry goods business at that place. He exhibited unusual
capacity and promise in his calling, and soon drew upon himself the
favorable attention of the merchants of the place. He was prompt,
reliable, and energetic, and from the first established an enviable
reputation for personal and professional integrity. It is said that he
earned here the first money he ever made outside of his business. This
was by writing ballots for the Federal party in Newburyport. Printed
ballots had not then come into use.
He did not stay long in Newburyport, as a great fire, which burned up a
considerable part of the town, destroyed his brother's store, and
obliged him to seek employment elsewhere. He always retained a warm
attachment to the place, however, an attachment which a resident of the
town explains as follows:
"The cause of Mr. George Peabody's interest in Newburyport was not alone
that he had lived here for a brief period, or that his relatives had
lived here; but rather it was the warm friendship that had been shown
him, which was, in fact, the basis of his subsequent prosperity. He left
here in 1811, and returned in 1857. The forty-six intervening years had
borne to the grave most of the persons with whom he had formed
acquaintance. Among those he recognized were several who were in
business, or clerks, on State Street in 1811,--Messrs. John Porter,
Moses Kimball, Prescott Spaulding, and a few others. Mr. Spaulding was
fourteen years older than Mr. Peabody, and in business when the latter
was a clerk with his uncle, Colonel John Peabody. Mr. Peabody was here
in 1857, on the day of the Agricultural Fair, and was walking in the
procession with the late Mayor Davenport, when he saw Mr. Spaulding on
the sidewalk, and at once left the procession to greet him.
"Mr. Spaulding had rendered him the greatest of services. When Mr.
Peabody left Newburyport, he was under age, and not worth a dollar. Mr.
Spaulding gave him letters of credit in Boston, through which he
obtained two thousand dollars' worth of merchandise of Mr. James Reed,
who was so favorably impressed with his appearance, that he subsequently
gave him credit for a larger amount. This was his start in life, as he
afterward acknowledged; for at a public entertainment in Boston, when
his credit was good for any amount, and in any part of the world, Mr.
Peabody laid his hand on Mr. Reed's shoulder, and said to those present,
'My friends, here is my first patron; and he is the man who sold me my
first bill of goods.' After he was established in Georgetown, D.C., the
first consignment made to him was by the late Francis Todd, of
Newburyport. It was from these facts that Newburyport was always
pleasant in his memory; and the donation he made to the Public Library
was on his own suggestion, that he desired to do something of a public
nature for our town."
From New England, George Peabody turned his face southward, and entered
the employment of his uncle, Mr. John Peabody, who was engaged in the
dry goods business in Georgetown, in the District of Columbia. He
reached that place in the spring of 1812; but, as the second war with
England broke out about the same time, was not able to give his
immediate attention to business. He became a member of a volunteer
company of artillery, which was stationed at Fort Warburton, but as no
active duty was required of the company, he soon went back to his
uncle's store. His uncle was a poor man and a bad manager, and for two
years the business was conducted by George Peabody, and in his own name;
but at the end of that time, seeing the business threatened with ruin by
his uncle's incapacity, he resigned his situation, and entered the
service of Mr. Elisha Riggs, who had just established a wholesale dry
goods house in Georgetown. Mr. Riggs furnished the capital for the
concern, and Mr. Peabody was given the management of it. Soon after
this, the latter became a partner in the house. It is said that when Mr.
Riggs invited Mr. Peabody to become his partner, the latter informed him
that he could not legally assume the responsibilities of the business,
as he was only nineteen years old. This was no objection in the mind of
the merchant, as he wanted a young and active assistant, and had
discerned in his boy-manager the qualities which never fail to win
success.
The new business in which he was engaged consisted chiefly in the
importation and sale of European goods, and consignments of dry goods
from the northern cities. It extended over a wide field, and gave Mr.
Peabody a fine opportunity for the display of his abilities. Mr. Riggs'
friends blamed him very much for leaving his business so entirely in the
hands of a boy of nineteen; but he had better proof than they that his
affairs were not only in good but in the best hands, and he answered
them all by telling them that time would justify his course. Mr. Peabody
traveled extensively in establishing his business, often journeying into
the wild and unsettled regions of the border States on horseback. He
worked with energy and intelligence, and in 1815 the business was found
to be so extensive that a removal to Baltimore became necessary. About
this time a sort of irregular banking business was added to the
operations of the house. This was chiefly the suggestion of Mr. Peabody,
and proved a source of great profit.
Mr. Peabody quickly took a prominent rank among the merchants of
Baltimore. His manner was frank and engaging, and won him many friends.
He was noted for "a judgment quick and cautious, clear and sound, a
decided purpose, a firm will, energetic and persevering industry,
punctuality and fidelity in every engagement, justice and honor
controlling every transaction, and courtesy--that true courtesy which
springs from genuine kindness--presiding over the intercourse of life."
His business continued to increase, and in 1822 it became necessary to
establish branches in Philadelphia and New York, over which Mr. Peabody
exercised a careful supervision. He was thoroughly familiar with every
detail of his business, and never suffered his vigilance to relax,
however competent might be the subordinates in the immediate charge of
those details. In 1827 he went to England on business for his firm, and
during the next ten years made frequent voyages between New York and
London.
In 1829 Mr. Riggs withdrew from the firm, and Mr. Peabody become the
actual head of the house, the style of the firm, which had previously
been "Riggs & Peabody," being changed to "Peabody, Riggs & Co." The firm
had for some time been the financial agents of the State of Maryland,
and had managed the negotiations confided to them with great skill and
success; and every year their banking department became more important
and more profitable.
In 1836 Mr. Peabody determined to extend his business, which was already
very large, to England, and to open a branch house in London. In 1837 he
removed to that city for the purpose of taking charge of his house
there, and from that time London became his home.
The summer of this year was marked by one of the most terrible
commercial crises the United States has ever known. A large number of
the banks suspended specie payment, and the majority of the mercantile
houses were either ruined or in the greatest distress. Thousands of
merchants, until then prosperous, were hopelessly ruined. "That great
sympathetic nerve of the commercial world, credit," said Edward Everett,
"as far as the United States was concerned, was for the time paralyzed.
At that moment Mr. Peabody not only stood firm himself, but was the
cause of firmness in others. There were not at that time, probably, half
a dozen other men in Europe who, upon the subject of American
securities, would have been listened to for a moment in the parlor of
the Bank of England. But his judgment commanded respect; his integrity
won back the reliance which men had been accustomed to place in American
securities. The reproach in which they were all involved was gradually
wiped away from those of a substantial character; and if, on this solid
basis of unsuspected good faith, he reared his own prosperity, let it be
remembered that at the same time he retrieved the credit of the State of
Maryland, of which he was agent--performing that miracle by which the
word of an honest man turns paper into gold."
The conduct of Mr. Peabody, as well as the evidences which he gave of
his remarkable capacity for business, in this crisis, placed him among
the foremost merchants of London. He carried on his business upon a
large scale from his base of operations in that city. He bought British
manufactures in all parts of England and shipped them to the United
States. His vessels brought back in return all kinds of American produce
which would command a ready sale in England. Profitable as these
ventures were, there was another branch of his business much more
remunerative to him. The merchants and manufacturers on both sides of
the Atlantic who consigned their goods to him frequently procured from
him advances upon the goods long before they were sold. At other times
they would leave large sums in his hands long after the goods were
disposed of, knowing that they could draw whenever they needed, and that
in the meanwhile their money was being so profitably invested that they
were certain of a proper interest for their loans. Thus Mr. Peabody
gradually became a banker, in which pursuit he was as successful as he
had been as a merchant. In 1843 he withdrew from the house of Peabody,
Riggs & Co., and established the house of "George Peabody & Company, of
Warnford Court, City."
His dealings were chiefly with America, and in American securities, and
he was always regarded as one of the best specimens of the American
merchant ever seen in London. He was very proud of his country; and
though he passed so many years of his life abroad, he never forgot that
he was an American. In speaking of the manner in which he organized his
business establishment, he once said: "I have endeavored, in the
constitution of its members and the character of its business, to make
it an American house, and to give it an American atmosphere; to furnish
it with American journals; to make it a center of American news, and an
agreeable place for my American friends visiting London."
It was his custom, from his first settlement in England, to celebrate
the anniversary of the independence of his country by an entertainment
at one of the public houses in the city, to which the most distinguished
Americans in London were always invited, as were also many of the
prominent men of Great Britain; and this dinner was only discontinued in
deference to the general celebration of the day which was afterward
instituted by the whole body of Americans resident in the British
metropolis. In the year 1851, when it was thought that there would be no
representation of the achievements of American skill and industry in the
Great Exhibition of that year, from a lack of funds, Mr. Peabody
generously supplied the sum of fifteen thousand dollars, which enabled
the Commissioners to make a suitable display of the American
contributions. Said the Hon. Edward Everett, alluding to this act:
"In most, perhaps in all other countries, this exhibition had been a
government affair. Commissioners were appointed by authority to protect
the interests of the exhibitors; and, what was more important,
appropriations of money had been made to defray their expenses. No
appropriations were made by Congress. Our exhibitors arrived friendless,
some of them penniless, in the great commercial Babel of the world. They
found the portion of the Crystal Palace assigned to our country
unprepared for the specimens of art and industry which they had brought
with them; naked and unadorned by the side of the neighboring arcades
and galleries fitted up with elegance and splendor by the richest
governments in Europe. The English press began to launch its too ready
sarcasms at the sorry appearance which Brother Jonathan seemed likely to
make; and all the exhibitors from this country, as well as those who
felt an interest in their success, were disheartened. At this critical
moment, our friend stepped forward. He did what Congress should have
done. By liberal advances on his part, the American department was
fitted up; and day after day, as some new product of American ingenuity
and taste was added to the list,--McCormick's reaper, Colt's revolver,
Powers's Greek Slave, Hobbs's unpickable lock, Hoe's wonderful printing
presses, and Bond's more wonderful spring governor,---it began to be
suspected that Brother Jonathan was not quite so much of a simpleton as
had been thought. He had contributed his full share, if not to the
splendor, at least to the utilities of the exhibition. In fact, the
leading journal at London, with a magnanimity which did it honor,
admitted that England had derived more real benefit from the
contributions of the United States than from those of any other
country."
As has been said, Mr. Peabody made the bulk of his colossal fortune in
the banking business. He had a firm faith in American securities, and
dealt in them largely, and with confidence. His business instinct was
remarkable, his judgment in mercantile and financial matters almost
infallible, and he made few mistakes. His course was now onward and
upward, and each year marked an increase of his wealth. His business
operations were conducted in pursuance of a rigid system which was never
relaxed. To the very close of his life he never abandoned the exact or
business-like manner in which he sought to make money. He gave away
millions with a generosity never excelled, yet he could be exacting to a
penny in the fulfillment of a contract.
In his youth he contracted habits of economy, and these he retained to
the last. Being unmarried, he did not subject himself to the expense of
a complete domestic establishment, but lived in chambers, and
entertained his friends at his club or at a coffee-house. His habits
were simple in every respect, and he was often seen making his dinner on
a mutton-chop at a table laden (at his cost) with the most sumptuous and
tempting viands. His personal expenses for ten years did not average
three thousand dollars per annum.
The conductor on an English railway once overcharged him a shilling for
fare. He promptly complained to the directors, and had the man
discharged. "Not," said he, "that I could not afford to pay the
shilling, but the man was cheating many travelers to whom the swindle
would be offensive."
Several years ago he chanced to ride in a hack in Salem, Massachusetts,
and upon reaching his destination tendered the driver his usual fee of
fifty cents.
"Here's your change, sir," said the man, handing him back fifteen cents.
"Change!" exclaimed Mr. Peabody; "why, I'm not entitled to any."
"Yes, you are; I don't charge but thirty-five cents for a ride in my
hack."
"How do you live, then?"
"By fair dealing, sir. I don't believe in making a man pay more than a
thing is worth just because I have an opportunity."
Mr. Peabody was so much pleased with this reply, that as long as he
remained in Salem he sought this man out and gave him his custom.
In his dress Mr. Peabody was simple and unostentatious. He was
scrupulously neat and tasteful, but there was nothing about him to
indicate his vast wealth. He seldom wore any jewelry, using merely a
black band for his watch-guard. Display of all kinds he abominated.
He made several visits to his native country during his last residence
in London, and commemorated each one of them by acts of princely
munificence. He gave large sums to the cause of education, and to
religious and charitable objects, and made each one of his near kindred
wealthy. None of his relatives received less than one hundred thousand
dollars, and some were given as much as three times that sum. He gave
immense sums to the poor of London, and became their benefactor to such
an extent that Queen Victoria sent him her portrait, which she had
caused to be executed for him at a cost of over forty thousand dollars,
in token of her appreciation of his services in behalf of the poor of
her realm.
Mr. Peabody made another visit to the United States in 1866, and upon
this occasion added large sums to many of the donations he had already
made in this country. He remained here until May, 1867, when he returned
to England. He came back in June, 1869, but soon sailed again for
England. His health had become very feeble, and it was his belief that
it would be better in the atmosphere of London, to which he had been so
long accustomed. His hope of recovery was vain. He failed to rally upon
reaching London, and died in that city on the 4th of November, 1869.
The news of his death created a profound sadness on both sides of the
Atlantic, for his native and his adopted country alike revered him as a
benefactor. The Queen caused his body to be placed in a vault in
Westminster Abbey, amidst the greatest and noblest of her kingdom, until
all was in readiness for its transportation to the United States in a
royal man-of-war. The Congress of the United States authorized the
President to make such arrangements for the reception of the body as he
should deem necessary. Sovereigns, statesmen, and warriors united to do
homage to the mortal remains of this plain, simple man, who, beginning
life a poor boy, and never departing from the character of an unassuming
citizen, had made humanity his debtor by his generosity and goodness. He
was borne across the ocean with kingly honors, two great nations acting
as chief mourners, and then, when the pomp and the splendor of the
occasion were ended, they laid him down in his native earth by the side
of the mother from whom he had imbibed those principles of integrity and
goodness which were the foundation of his fame and fortune.
It is impossible to obtain an accurate statement of the donations made
by Mr. Peabody to the objects which enlisted his sympathy. In addition
to those mentioned in the list below, he gave away for various public
purposes sums ranging from two hundred and fifty to one thousand
dollars, and extending back as far as the year 1835. He divided among
his relatives the sum of about three millions of dollars, giving them a
portion during his last visit to this country, and leaving them the
remainder at his death.
The following is a statement of his more important donations during his
life, including the bequests contained in his last will and testament:
To the State of Maryland, for negotiating the
loan of $8,000,000................................. $60,000
To the Peabody Institute, Baltimore, Md., including
accrued interest................................... 1,500,000
To the Southern Education Fund........................ 3,000,000
To Yale College....................................... 150,000
To Harvard College.................................... 150,000
To Peabody Academy, Massachusetts..................... 140,000
To Phillips Academy, Massachusetts.................... 25,000
To Peabody Institute, etc., at Peabody, Mass.......... 250,000
To Kenyon College, Ohio............................... 25,000
To Memorial Church, in Georgetown, Mass............... 100,000
To Homes for the Poor in London....................... 3,000,000
To Libraries in Georgetown, Massachusetts,
and Thetford, Vermont.............................. 10,000
To Kane's Arctic Expedition........................... 10,000
To different Sanitary Fairs........................... 10,000
To unpaid moneys advanced to uphold the
credit of States................................... 40,000
Total................................................. $8,470,000
The life of such a man affords lessons full of hope and encouragement to
others. In 1856, when on a visit to Danvers, now named Peabody, in honor
of him, its most distinguished son and greatest benefactor, he said:
"Though Providence has granted me an unvaried and unusual success in the
pursuit of fortune in other lands, I am still in heart the humble boy
who left yonder unpretending dwelling. There is not a youth within the
sound of my voice whose early opportunities and advantages are not very
much greater than were my own, and I have since achieved nothing that is
impossible to the most humble boy among you."
[Illustration: CORNELIUS VANDERBILT.]
II.
CAPITALISTS.
CHAPTER IX.
CORNELIUS VANDERBILT.
Staten Island lies in the beautiful bay of New York, seven miles distant
from the great city. Its lofty heights shut in the snug anchorage of the
inner bay, and protect it from the rude storms which howl along the
coast. It lies full in sight of the city, and is one of the most
beautiful and attractive of its suburbs. The commanding heights and
embowered shores are covered with villas and cottages, and afford a
pleasant and convenient summer resort for the people of New York. It now
contains a large and flourishing population, and maintains a speedy and
constant communication with the metropolis by means of steam
ferry-boats, the total travel on which sometimes reaches as many as ten
or twelve thousand passengers per day.
Seventy-six years ago, Staten Island was a mere country settlement, and
its communications with the city were maintained by means of a few
sail-boats, which made one trip each way per day.
One of these boats was owned and navigated by Cornelius Vanderbilt, a
thriving farmer, who owned a small but well cultivated estate on Staten
Island, near the present Quarantine Grounds. He was a man of exemplary
character, great industry, and was generally regarded as one of the most
prudent and reliable men on the island. Having a considerable amount of
produce to sell in the city, he purchased a boat of his own for the
purpose of transporting it thither. Frequently, residents of the island
would secure passage in this boat to the city in the morning, and return
with it in the evening. He realized a considerable sum of money in this
way, and finally ran his boat regularly between the island and the city.
This was the beginning of the New York and Staten Island Ferry. Mr.
Vanderbilt, by close application to his farm and boat, soon acquired a
property, which, though small, was sufficient to enable him to maintain
his family independently. His wife was a woman of more than usual
character, and aided him nobly in making his way in the world.
This admirable couple were blessed with nine children. The oldest of
these, CORNELIUS, the subject of this sketch, was born at the old
farm-house on Staten Island, on the 27th of May, 1794. He was a healthy,
active boy, fond of all manner of out-door sports, and manifesting an
unusual repugnance to the confinement and labors of the school-room. He
has since declared that the only books he remembers using at school were
the New Testament and the spelling-book. The result was, that he merely
learned to read, write, and cipher, and that imperfectly. He was
passionately fond of the water, and was never so well pleased as when
his father allowed him to assist in sailing his boat. He was also a
famous horseman from his earliest childhood, and even now recalls with
evident pride the fact that when but six years old he rode a race-horse
at full speed. When he set himself to accomplish any thing, he was not,
like most boys, deterred by the difficulties of his undertaking, but
persevered until success crowned his efforts. So early did he establish
his reputation for overcoming obstacles, that his boyish friends learned
to regard any task which he undertook as already virtually performed.
When he was only twelve years old his father contracted to remove the
cargo from a ship which had gone ashore near Sandy Hook, and to convey
it to New York. The lighters which were to carry the goods to the city
could not reach the ship, and it was necessary to haul the cargo,
transported in wagons, across the sands from the vessel to them. In
spite of his tender age, little Cornelius was placed by his father in
charge of the undertaking, which he accomplished promptly and
successfully. He loaded his lighters, sent them up to New York, and then
started for home with his wagons. Upon reaching South Amboy, where he
was to cross over to Staten Island, he found himself, with his wagons,
horses, and men, without any money to pay his ferriage across to the
island. The ferriage would amount to six dollars, and how he was to
raise this sum he was, for a time, at a loss to determine. Finally, he
went to the keeper of the tavern, to whom he was a stranger, and asked
for the loan of six dollars, offering to leave one of his horses as a
pledge for the money, which he promised to return within two days. The
tavern-keeper was so well pleased with the boy's energy, that he loaned
him the money, and the party crossed over to Staten Island. The pawned
horse was promptly redeemed.
Young Vanderbilt was always anxious to become a sailor, and, as he
approached his seventeenth year, he determined to begin life as a
boatman in the harbor of New York. On the 1st of May, 1810, he informed
his mother of his determination, and asked her to lend him one hundred
dollars to buy a boat.
The good lady had always opposed her son's wish to go to sea, and
regarded this new scheme as equally hair-brained. As a means of
discouraging him, she told him if he would plow, harrow, and plant with
corn a certain ten-acre lot belonging to the farm, by the twenty-seventh
of that month, on which day he would be seventeen years old, she would
lend him the money. The field was the worst in the whole farm; it was
rough, hard, and stony; but by the appointed time the work was done, and
well done, and the boy claimed and received his money. He hurried off to
a neighboring village, and bought his boat, in which he set out for
home. He had not gone far, however, when the boat struck a sunken wreck,
and filled so rapidly that the boy had barely time to get into shoal
water before it sank.
[Illustration: VANDERBILT EARNING HIS FIRST HUNDRED DOLLARS.]
"Undismayed at this mishap," says Mr. Parton, from whose graphic memoir
the leading incidents of this sketch are taken, "he began his new
career. His success, as we have intimated, was speedy and great. He made
a thousand dollars during each of the next three summers. Often he
worked all night; but he was never absent from his post by day, and he
soon had the cream of the boating business of the port.
"At that day parents claimed the services and earnings of their children
till they were twenty-one. In other words, families made common cause
against the common enemy, Want. The arrangement between this young
boatman and his parents was, that he should give them all his day
earnings and half his night earnings. He fulfilled his engagement
faithfully until his parents released him from it, and with his own half
of his earnings by night, he bought all his clothes. He had forty
competitors in the business, who, being all grown men, could dispose of
their gains as they chose; but of all the forty, he alone has emerged to
prosperity and distinction. Why was this? There were several reasons. He
soon became the best boatman in the port. He attended to his business
more regularly and strictly than any other. He had no vices. His
comrades spent at night much of what they earned by day, and when the
winter suspended their business, instead of living on their last
summer's savings, they were obliged to lay up debts for the next
summer's gains to discharge. In those three years of willing servitude
to his parents, Cornelius Vanderbilt added to the family's common stock
of wealth, and gained for himself three things--a perfect knowledge of
his business, habits of industry and self-control, and the best boat in
the harbor."
During the War of 1812, young Vanderbilt was kept very busy. All the
harbor defenses were fully manned, and a number of war vessels were in
port all the time. The travel between these and the city was very great,
and boatmen were in demand.
In September, 1813, a British fleet attempted to run past Fort Richmond,
during a heavy gale. The commanding officer was anxious to send to New
York for reinforcements, but it was blowing so hard that none of the old
boatmen were willing to venture upon the bay. They all declared that if
the voyage could be made at all, Cornelius Vanderbilt was the only man
who could make it. The commandant at once sent for the young man, who,
upon learning the urgency of the case, expressed his belief that he
could carry the messengers to the city. "But," said he, "I shall have to
carry them part of the way under water." He set out with the messengers,
and in an hour landed them safe, but drenched through, at the foot of
Whitehall Street, which was then the landing place of all the boatmen of
the harbor.
He was now so prosperous in his calling that he determined to marry. He
had wooed and won the heart of Sophia Johnson, the daughter of a
neighbor, and he now asked his parents' consent to his marriage, and
also requested them to allow him to retain his own earnings, in order
that he might be able to support a wife. Both of his petitions received
the approval of his parents, and in the winter of 1813 he was married.
His wife was a woman of unusual personal beauty and strength of
character, and proved the best of partners. He has often declared since
that he owed his success in life as much to her counsel and assistance
as to his own efforts.
In the spring of 1814, it became known in America that the British were
fitting out a formidable military and naval expedition for the purpose
of attacking one of the Atlantic ports of the United States. The whole
coast was on the lookout, and, as it was feared that the blow would be
struck at New York, every precaution was taken to be ready. The militia
were called into service for three months, under a heavy penalty for
refusing to obey the call. The term of service thus marked out covered
the most prosperous season of the boatmen, and made the call fall
particularly hard upon them. About this time, an advertisement was
inserted in the city journals by the Commissary-General of the army,
calling for bids from boatmen for the purpose of conveying provisions
from New York to the various military posts in the vicinity. The labor
was to be performed during the three months for which the militia were
called out, and the contractor was to be exempted from all military duty
during that time. Bids poured in from the boatmen, who offered to do the
work at ridiculously low figures--the chief object of each one being to
secure the exemption.
Young Vanderbilt, knowing that the work could not be done at the rates
at which his comrades offered to perform it, at first decided not to bid
for it, but at length--and more to please his father than because he
expected to succeed--offered to transport the provisions at a price
which would enable him to be sure of doing it well and thoroughly. He
felt so little hope of success that he did not even trouble himself to
go to the office of the Commissary on the day of the awarding of the
contract, until he learned from his companions that all their efforts to
secure it had been ineffectual. Then he called on the Commissary, merely
through curiosity, to learn the name of the fortunate man, and to his
utter astonishment was told that the contract had been awarded to
himself. The Government was satisfied, from his sensible offer, that he
would do the business thoroughly, and this the Commissary assured him
was the reason why they had selected him.
There were six posts to be supplied--Harlem, Hell Gate, Ward's Island,
the Narrows, and one other in the harbor, each of which was to be
furnished with one load per week. The young contractor made arrangements
to have a daily load of stores ready for him each evening at six
o'clock, and thus performed all the duties of his contract at night,
which left him free to attend to his boating during the day. He never
failed to make a single delivery of stores, or to be absent from his
post on the beach at Whitehall one single day during the whole three
months. He was often without sleep, and performed an immense amount of
labor during this period; but his indomitable energy and powerful
physical organization carried him safely through it all.
He made a great deal of money that summer, and with his earnings built a
splendid little schooner, which he named the "Dread." In 1815, in
connection with his brother-in-law, Captain De Forrest, he built a fine
schooner, called the "Charlotte," for the coasting service. She was
celebrated for the beauty of her model and her great speed. He continued
to ply his boat in the harbor during the summer, but in the fall and
winter made voyages along the coast, often as far south as Charleston.
During the three years succeeding the termination of the war he saved
nine thousand dollars in cash, and built two or three small vessels.
This was his condition in 1818.
By this time it had become demonstrated to his satisfaction that the new
system of steamboats was a success, and was destined to come into
general use at no very distant day. He therefore determined to identify
himself with it at once, and thereby secure the benefits which he felt
sure would result from a prompt connection with it. Accordingly, in
1818, to the surprise and dismay of his friends, he gave up his
flourishing business, in order to accept the captaincy of a steamboat
which was offered him by Mr. Thomas Gibbons. The salary attached to this
position was one thousand dollars, and Captain Vanderbilt's friends
frankly told him that he was very foolish in abandoning a lucrative
business for so insignificant a sum. Turning a deaf ear to their
remonstrances, however, he entered promptly upon the duties of his new
career, and was given command of a steamboat plying between New York and
New Brunswick.
Passengers to Philadelphia, at that day, were transported by steamer
from New York to New Brunswick, where they remained all night. The next
morning they took the stage for Trenton, from which they were conveyed
by steamer to Philadelphia. The hotel at New Brunswick was a miserable
affair, and had never paid expenses. When Captain Vanderbilt took
command of the steamer, he was offered the hotel rent free, and accepted
the offer. He placed the house in charge of his wife, under whose
vigorous administration it soon acquired a popularity which was of the
greatest benefit to the line.
For seven years he was harassed and hampered by the hostility of the
State of New York, which had granted to Fulton and Livingston the sole
right to navigate New York waters by steam. Thomas Gibbons believed this
law to be unconstitutional, and ran his boats in defiance of it. The
authorities of the State resented his disregard of their monopoly, and a
long and vexatious warfare sprang up between them, which was ended only
in 1824, by the decision of the Supreme Court of the United States in
favor of Mr. Gibbons.
As a means of crippling Gibbons, the New York authorities at one time
determined to arrest Vanderbilt and his crew; but the wary captain was
too cunning for them. He would land his crew in Jersey City, and take
charge of the engine himself, while a lady managed the helm. In this way
he approached the wharf at New York, landed his passengers, and took on
more. As soon as he had made his boat fast, he concealed himself in the
hold until the moment of his departure. As soon as he appeared on deck,
the Sheriff's officer (who was changed every day to avoid recognition)
would approach him with a warrant for his arrest. His reply was an
order to let go the line. The officer, unwilling to be carried off to
New Jersey, where he was threatened with imprisonment in the
penitentiary for interfering with the steamer, would at once jump
ashore, or beg to be landed. This was kept up for two months, but the
captain successfully baffled his enemies during the whole of that
period. The opponents of Mr. Gibbons offered a larger and better boat
than the one he commanded if he would enter their service, but he firmly
declined all their offers, avowing his determination to remain with Mr.
Gibbons until the difficulty was settled.
After the decision of the Supreme Court placed Mr. Gibbons in the full
enjoyment of his rights, Captain Vanderbilt was allowed to manage the
line in his own way, and conducted it with so much skill and vigor that
it paid its owner an annual profit of forty thousand dollars. Mr.
Gibbons offered to increase his salary to five thousand dollars, but he
refused to accept the offer.
"I did it on principle," he said, afterward. "The other captains had but
one thousand, and they were already jealous enough of me. Besides, I
never cared for money. All I ever cared for was to carry my point."
[Illustration: VANDERBILT CARRYING OFF THE SHERIFF.]
In 1829 he determined to leave the service of Mr. Gibbons, with whom he
had been connected for eleven years. He was thirty-five years old, and
had saved thirty thousand dollars. He resolved to build a steamer of his
own, and command her himself, and accordingly made known his intention
to his employer. Mr. Gibbons at once declared that he could not carry on
the line without his assistance, and told him he might make his own
terms if he would stay with him. Captain Vanderbilt had formed his
decision after much thought, and being satisfied that he was doing
right, he persisted in his determination to set up for himself. Mr.
Gibbons then offered to sell him the line on the spot, and to take his
pay as the money should be earned. It was a splendid offer, but it was
firmly and gratefully refused. The captain knew the men among whom he
would be thrown, and that they could never act together harmoniously. He
believed his own ideas to be the best, and wished to be free to carry
them out.
After leaving Mr. Gibbons he built a small steamer, called the
"Caroline," which he commanded himself. In a few years he was the owner
of several other small steamers plying between New York and the
neighboring towns. He made slow progress at first, for he had strong
opposition to overcome. The steamboat interest was in the hands of
powerful companies, backed by immense capital, and these companies were
not disposed to tolerate the interference of any new-comer. They met
their match in all cases, however, for Vanderbilt inaugurated so sharp a
business opposition that the best of them were forced to compromise with
him. These troubles were very annoying to him, and cost him nearly every
dollar he was worth, but he persevered, and at length "carried his
point."
From that time he made his way gradually in his business, until he rose
to the head of the steamboat interest of the United States. He has owned
or been interested in one hundred steam vessels, and has been
instrumental in a greater degree than any other man in bringing down the
tariff of steamboat fares. He never builds a vessel without giving his
personal superintendence to every detail, so that all his various craft
have been models of their kind. He selects his officers with the
greatest care, pays them liberal salaries, and, as long as they do their
duty, sustains them against all outside interference or intrigue. In
this way he inspires them with zeal, and the result is that he has never
lost a vessel by fire, explosion, or wreck.
He built the famous steamer "North Star," and made a triumphal cruise
in her to the Old World. It is said that he was at one time very anxious
to divide the business of the ocean with the Collins Line of steamers.
When the "Arctic" was lost he applied to Mr. Collins to allow his
steamer to run in her place. He promised to make no claim for the mail
subsidy which Collins received, and to take the vessel off as soon as
Collins could build another to take her place. Mr. Collins was afraid to
let Mr. Vanderbilt get any hold on the foreign trade of the country, and
not only refused his request, but did so in a manner which roused the
anger of the veteran, who thereupon told Mr. Collins that he would run
his line off the ocean if it took his whole life and entire fortune to
do it. He kept his word. He at once offered the Government to carry the
mails more promptly and regularly than had ever been done before, and to
do this for a term of years without asking one single cent as subsidy.
It was well known that he was perfectly able to do what he promised, and
he pressed the matter upon the Government so vigorously that he was
successful. The subsidy to Collins was withdrawn, and the magnificent
line soon fell to pieces in consequence of the bankruptcy of its owner,
who might have averted his fate by the exercise of a little liberality.
Of late years, Mr. Vanderbilt has been withdrawing his money from ships
and steamers, and investing it in railroads and iron works. Success has
attended him in all his ventures, and he is to-day worth over thirty
millions of dollars. He controls the Hudson River, Harlem, and New York
Central Roads, and is largely interested in many others. He is all
powerful in the stock market, and can move it as he will.
A few years ago he wished to consolidate the Hudson River and Harlem
Railroads, and when the scheme was presented before the Legislature of
New York, secured a sufficient number of votes to insure the passage of
the bill authorizing the consolidation. Before the bill was called up on
its final passage, however, he learned from a trustworthy source that
the members of the Legislature who had promised to vote for the bill
were determined to vote against it, with the hope of ruining him. The
stock of Harlem Road was then selling very high, in consequence of the
expected consolidation. The defeat of the bill would, of course, cause
it to fall immediately. The unprincipled legislators at once commenced a
shrewd game. They sold Harlem right and left, to be delivered at a
future day, and found plenty of purchasers. They let their friends into
the secret, and there was soon a great deal of "selling 'short'" in this
stock.[A] Commodore Vanderbilt, although indignant at the treachery of
which he was to be made the victim, held his peace. He went into the
market quietly, with all the funds he could raise, purchased every
dollar's worth of Harlem stock he could lay his hands on, and locked it
up in his safe. When the bill came before the Legislature on its final
passage, the members who had pledged themselves to vote for it voted
against it, and it was rejected.
[Footnote A: For the benefit of the uninitiated reader, we will explain
the "game" more clearly. Harlem stock was selling at a high price, in
consequence of the expected consolidation. Those who sold "short" at
this time sold at the market price, which, as we have said, was high. By
engaging to deliver at some future day, they expected to be able to buy
the stock for little or nothing after the defeat of the bill, and then
to demand for it the price for which they had sold it in the first
place. Such a transaction was infamous, but would have enabled those
engaged in it to realize immense sums by the difference in the price of
the stock.]
The speculators were jubilant. They were sure that the defeat of the
bill would bring down "Harlem" with a rush. To their astonishment,
however, "Harlem" did not fall. It remained stationary the first day,
and then, to their dismay, began to rise steadily. Those to whom they
had sold demanded the delivery of the stock, but the speculators found
it impossible to buy it. There was none in the market at any price.
Being unable to deliver stock, they were forced to pay its equivalent in
money, and the result was, that all who were engaged in the infamous
scheme were ruined. One of the shrewdest operators in New York lost over
two hundred thousand dollars. He refused to pay, but his name was at
once stricken from the list of stock-brokers. This brought him to terms,
and he made good his contracts. Vanderbilt made enough money out of this
effort to crush him to pay for all the stock he owned in the Harlem
Road.
During the rebellion, Commodore Vanderbilt was one of the stanchest
supporters of the Government. Early in the struggle he equipped his
splendid steamer, the "Vanderbilt," as a man-of-war, and offered her to
the Navy Department at a fair price. He found that, in order to sell the
vessel, he would have to pay a percentage of the price received for her
to certain parties who stood between the Government and the purchase,
and levied black mail upon every ship the Government bought. Indignant
and disgusted, he withdrew his ship, and declared she was not for sale.
Then, satisfying himself that she was in perfect condition, he presented
her to the Navy Department _as a free gift to the nation_.
Says a recent writer, whose fondness for courtly similes the reader must
pardon, for the sake of the information he imparts: "No man is felt in
Wall Street more than Commodore Vanderbilt, yet he is seldom seen there.
All of his business is done in his office in Fourth Street. Here his
brokers meet him, receive their orders, and give reports. Here the plans
are laid that shake the street, and Wall Street trembles at the foot of
an invisible autocrat. If the reader would care to visit the court of
that great railroad king, whose name has become the terror of Wall
Street, he may accompany us to a plain brick residence in Fourth Street,
near Broadway, and distant from Wall Street nearly two miles. No sign
indicates its imperial occupant, except that the upper story being
occupied as a millinery establishment bears a legend of that character.
However, as we enter the hall, we notice the word 'office,' and open the
door thus inscribed. Here we see a table, a few chairs, and a desk, at
which a solitary clerk of middle age is standing at work.
"The walls are bare, with the exception of a few pictures of those
steamships which originated the title of 'Commodore,' This is the
ante-chamber, and a pair of folding doors screen the king from vulgar
gaze. He is closeted with his marshals, and this privy council will last
an hour or so. One after the other they depart, and before three o'clock
the effect of this council will not only be felt in Wall Street, but
will be flashed over the Union. At length you are permitted to enter.
The folding door is opened, and you behold an office as plain in
appearance as the one just described. It contains a few arm-chairs and a
long business-table, thrown flush before you, on the opposite side of
which sits a large man, with his face fronting you. He is writing, and
his eyes are fixed on the paper, so that you have a moment to note the
dignity of frame and the vast development of brain. In a few minutes the
countenance raises, and you meet its expansive and penetrating glance.
"You face the king. He smiles in a pleasant and whole-souled manner, and
in a moment puts you at ease. No stiffness nor formality here. His
kingship is in himself, not in etiquette. He is ready for a pleasantry,
and will initiate one if it comes in the line of conversation. You note
those wonderful eyes, bright and piercing, and so large and rich that
one is fascinated, and does not know how to stop gazing into them. Such
is the appearance of the railway king, and you take your leave,
conscious that some men, as Shakespeare says, 'are born great.' Indeed,
we know a man who would rather give five dollars to sit and look at
Commodore Vanderbilt for an hour than to see any other sight in this
city. Next door to the office is a building of brown stone, with
spacious doors and a roadway. This is the Commodore's stable, where are
some of the finest horses in the country.
"Every afternoon he is wont to take an airing, and after tea a game of
whist affords an evening amusement. The Commodore is simple in his
manners and habits. He is a representative of a former age, when men
lived less artificially than at the present time, and when there was
more happiness and less show. As for business, it is his nature. He can
not help being king. He is but developing himself, and any other mode of
life would be painful. He has in the Central afforded a third wonder,
the Harlem and the Hudson River being the first and second, and if he
gets the Erie he will soon show the world another wonder. On Sundays the
Commodore attends Dr. Hutton's church on Washington Square, and here his
tall and dignified form may be seen, head and shoulders above the rest
of the congregation. He is a friend of the pastor, who takes a deep
interest in his welfare, and we hope will meet him in a better world. He
stood by the Commodore's side when his wife was laid in the tomb, and
cheered him in that dark and trying hour. Among his more recent works is
the completing of a tomb in the old Moravian burial-ground in Staten
Island. The subterranean chamber is about thirty feet square, and is
surmounted by a lofty shaft, and a statue of grief adds a peculiar
finish to the spot. The cemetery is on an eminence, from which one gets
a fine view of the ocean, dotted with ships."
Commodore Vanderbilt's early passion for horses still survives, and his
stable contains some of the finest in the world. Nothing pleases him so
well as to sit behind a fast team, with the reins in his hands, and fly
along the road with almost the speed of the wind.
He is extremely generous to his friends, and gives liberally to
charitable objects. He never puts his name to a subscription paper, but
his donations are none the less liberal for that. His old
acquaintances--especially those of his boyhood--find him a tender
friend, and many of them owe to his bounty the comforts which surround
their age.[A]
He is the father of thirteen children--nine daughters and four
sons--nearly all of whom are still living. A few years ago, at the
celebration of his golden wedding, over one hundred and forty of his
descendants and relatives assembled to congratulate him. He lost a
promising son during the war, and his wife died two years ago. Not long
since he married a second time. He is still one of the handsomest and
most imposing men in New York, and will doubtless live to see his
children's grandchildren.
[Footnote A: In July, 1870, Mr. Vanderbilt chanced to hear that the Rev.
Dr. Deems, of New York, was in want of a church. Admiring the energy
with which the reverend gentleman had built up his congregation in the
short space of three years, Mr. Vanderbilt quietly made up his mind that
he should not want in vain. Accordingly he bought the Mercer Street
Presbyterian Church, and made the Doctor a present of it, keeping him in
ignorance of his intention until he placed the title deeds in his hand.]
CHAPTER X.
DANIEL DREW.
The name of DANIEL DREW has so long been familiar in the financial
circles of the country, that it is surprising that the history of his
life is not more generally known.
He was born at Carmel, in Putnam County, New York, on the 29th of July,
1797. His father was a small farmer, with limited means, and had to work
hard to provide his family with food and clothing. Young Daniel was
brought up to work on the farm, and at such times as he could be spared
from this work, was sent to the country school in the neighborhood,
where he acquired but a meager stock of learning. When he was fifteen
years old, his father died, leaving his family in an almost helpless
condition. Young Daniel remained on the farm three years longer, and in
1815, being then eighteen years old, stared out to try and earn a living
for himself.
He came to New York in search of employment, but the country, just then,
was in too depressed a condition to afford him a chance in any regular
business. After looking around for awhile, he at length became a cattle
drover. He spent five years in driving cattle from Putnam County to New
York for sale, but failed to make any money at the business.
In 1820, he removed to New York, and established his headquarters at
the famous Bull's Head Tavern, in the Bowery, which was the great resort
of the butchers and drovers doing business in the city. He kept this
tavern a part of the time, and found it quite a profitable investment.
He soon formed a partnership with two other drovers, and commenced
buying cattle in the adjoining counties and bringing them to New York
for sale.
[Illustration: FOUNDING A GREAT FORTUNE]
These ventures were so successful that the operations of the firm were
extended into Pennsylvania, and finally into Ohio and the other States
of the great West. Mr. Drew and his partners brought over the mountains
the first drove of cattle that ever came from the West into New York
city. The cattle, two thousand in number, were collected into droves of
one hundred each, and were driven by experienced and careful men. The
journey occupied two months, and the total cost of the purchase and trip
was twenty-four dollars per head. The profit on the venture was very
large.
Mr. Drew continued in this business for fourteen years, slowly and
carefully laying the foundations of that immense fortune which has made
him so conspicuous, an example to others who have entered upon the
life-struggle since then.
In 1834, an event occurred which changed the whole tenor of his career.
In that year, the steamer "General Jackson," owned by Jacob Vanderbilt
(a brother of the famous Commodore), and plying between New York and
Peekskill, blew up at Grassy Point. A friend of Mr. Drew at once put a
boat called the "Water Witch" in her place, and Mr. Drew, to oblige his
friend, advanced one thousand dollars toward the enterprise. Commodore
Vanderbilt was not willing that any rival should contest the river trade
with him, and built a steamer called the "Cinderella," with which he ran
a sharp opposition to Mr. Drew. The contest was so sharp that fares and
freights were lowered to a ridiculous figure, and both parties lost
heavily. At the end of the season, the owner of the "Water Witch" found
himself ten thousand dollars in debt, and sold his boat to Drew, Kelly &
Richards for twenty thousand dollars.
Finding that Mr. Drew was not frightened off by his opposition,
Commodore Vanderbilt urged him to withdraw from his attempt, telling him
he knew nothing of the management of steamboats. Mr. Drew refused to be
intimidated; however, and continued his efforts. Since then, there have
been fifty attempts to run him off the river, but all alike have failed
of success.
In 1836, the "Water Witch" was replaced by a fine steamer called the
"Westchester," which was subsequently run as a day boat to Hartford,
Connecticut. The "Westchester" was run against the Hudson River Line,
from New York to Albany. The Hudson River Line at that time owned the
"De Witt Clinton," the "North America," and others--the finest
steamboats then afloat--and it seemed at first foolhardiness for any
one to attempt to oppose so popular a company. Mr. Drew and his
partners bought the "Bright Emerald," for which they gave twenty-six
thousand dollars, and ran her as a night boat between New York and
Albany, reducing the fare from three dollars to one dollar. During the
season, they bought the "Rochester" for fifty thousand dollars, and also
bought out the Hudson River Line, after which they restored the fare to
three dollars.
Several years later, Isaac Newton, who was largely interested in the
towing business of the Hudson, built two splendid passenger steamers
called the "North America" and the "South America." In 1840, Mr. Drew
formed a partnership with Mr. Newton, and the celebrated "People's Line"
was organized, which purchased all the passenger steamers owned by Drew
and Newton. Mr. Drew was the largest stockholder in this company, which,
to-day, after a lapse of nearly thirty years, still owns the most
magnificent and popular steamers in the world. Soon after its
organization, the company built the "Isaac Newton," the first of those
floating palaces for which the Hudson is famed. Since then, it has built
the "New World," the "St. John," the "Dean Richmond," and the "Drew,"
the last two of which cost over seven' hundred thousand dollars each.
Repeated efforts have been made to drive this line from the river, but
it has been conducted so judiciously and energetically, that, for nearly
thirty years, it has held the first place in the public favor.
In 1847, George Law and Daniel Drew formed a partnership, and
established a line of steamers between New York and Stonington, for the
purpose of connecting with the railroad from the latter place to Boston.
The "Oregon" and the "Knickerbocker" were placed on the route, and the
enterprise proved a success. Mr. Drew and Commodore Vanderbilt secured a
sufficient amount of stock in the railroad to give them a controlling
interest in it, and by the year 1850 the Stonington Steamboat Line was
firmly established.
When the Hudson River Railroad was opened, in 1852, it was confidently
expected that the steamboat trade on the river would be destroyed, and
the friends and enemies of Mr. Drew alike declared that he might as well
lay up his boats, as he would find it impossible to compete with the
faster time of the railroad. He was not dismayed, however, for he was
satisfied that the land route could not afford to carry freight and
passengers as cheap as they could be transported by water. He knew that
it would only be necessary to reduce his passenger and freight rates
below those of the railroad, to continue in the enjoyment of his immense
business, and his faith in the steady expansion of the trade of the city
induced him to believe that the time was close at hand when railroad and
steamers would all have as much as they could do to accommodate it. His
views were well founded, and his hopes have been more than realized. The
river trade has steadily increased, while the Hudson River Railroad is
taxed to its utmost capacity to accommodate its immense traffic.
In 1849, Mr. Drew, in connection with other parties, bought out the
Champlain Transportation Company. This corporation had a capital of one
hundred and fifty thousand dollars, and ran a line of five steamers from
White Hall to the Canada end of the lake. The new proprietors ran the
line seven years, and in 1856 sold out to the Saratoga and White Hall
Railroad Company.
As a steamboat manager, Daniel Drew has few equals and no superiors. His
ventures on the water have all been crowned with success, a result due
entirely to his judicious and liberal management His employes are chosen
with the greatest care, and generally remain with him during their
lives. He is very liberal in his dealings with those who serve him
faithfully, but will not tolerate a single careless or incompetent man,
however unimportant may be his position. The steamers owned by him are
almost entirely free from accidents, and such misfortunes as have
befallen them have been those against which no skill or foresight could
guard. He refuses to insure his boats, holding that care and prudence
are the best safeguards against accidents, and thus saves half a million
dollars. When the "Dean Richmond" was run down by the "Vanderbilt," a
year or two ago, he lost nearly three hundred thousand dollars. He paid
every claim presented by shippers and passengers, as soon as made,
without submitting one of them to the adjudication of the courts.
In 1836, Mr. Drew entered the banking business in Wall Street, and in
1840 established the widely-known firm of Drew, Robinson & Co. This
house engaged largely in the financial operations of the day, and became
known as one of the most uniformly successful in its dealings of any in
the city. Mr. Drew remained at the head of it for thirteen years, but in
1855 withdrew to make room for his son-in-law, Mr. Kelley. This
gentleman died soon after his connection with the firm, and Mr. Drew
resumed his old place.
Having succeeded so well in all his ventures, Mr. Drew now determined to
enter another field. Railroad stocks were very profitable, and might be
made to yield him an immense return for his investments, and he decided
to invest a considerable part of his fortune in them. In 1855, he
endorsed the acceptances of the Erie Railroad Company for five hundred
thousand dollars. This was the first decided evidence the public had
received of his immense wealth, and in 1857 another was given by his
endorsement of a fresh lot of Erie acceptances amounting to a million
and a half of dollars. This last indorsement was made in the midst of
the great financial panic of 1857, and occasioned no little comment. Men
could admire, though they could not understand, the sublime confidence
which enabled Mr. Drew to risk a million and a half of dollars in the
midst of such a terrible crisis. Some one asked him if he could sleep
quietly at night with such large interests at stake. "Sir," he replied,
calmly, "I have never lost a night's rest on account of business in my
life."
In 1857, Mr. Drew was elected a director of the Erie Railroad Company, a
position he held until recently. He was subsequently elected treasurer
of the company, and is one of the principal holders of Erie stock. He is
also one of the principal creditors of the company. The recent
proceedings in the New York courts to prevent the Erie Road from issuing
the new stock necessary to complete its broad-gauge connections with the
West, are too fresh in the mind of the reader to need a recital of them
here. It was proposed to issue ten millions of dollars worth of new
stock, and Mr. Drew was to guarantee the bonds. After a tedious and
costly suit, in which the New York Central Road endeavored to prevent
the issue of the stock, in the hope of keeping the Erie Road from
forming through connections with the West, the New York Legislature
legalized the new issue, and a compromise was effected between Mr. Drew,
in behalf of the Erie Road, and Commodore Vanderbilt, who represented
the New York Central.
Mr. Drew still continues his operations in Wall Street, where he is
known as one of the boldest and most extensive, as well as one of the
most successful, of all the operators in railroad stocks. Though losing
heavily at times, he has nevertheless been one of fortune's favorites.
His efforts have not been confined to the Erie Road. He owns stock in
other roads, and, together with Commodore Vanderbilt, took up the
floating debt of over half a million of dollars which weighed down the
Harlem Road, and placed it in its present prosperous condition.
He owns a fine grazing farm on the Harlem Railroad, about fifty miles
from New York. It is situated in Carmel, in Putnam County; is nearly one
thousand acres in extent, and includes the old farm on which he was
born. He has made it one of the finest and most profitable in the State,
and, it is said, values it above all his other possessions. He has
improved and beautified it upon an extensive scale, and near the old
grave-yard, where his parents lie sleeping, he has built one of the most
beautiful churches in the land.
In 1811, Mr. Drew became a member of the Methodist Church, but for
twenty-five years this connection was merely nominal. During all the
years of his drover's life he kept himself free from the sins of
intemperance and swearing. Once while riding out in a buggy with a
friend, to look at some cattle, a thunder-storm came on, and his horse
was killed in the shafts by lightning. This narrow escape from death
made a deep impression on his mind, and in 1841 he united with the
Mulberry Street Methodist Church, of which he became an active member
and a trustee. The elegant marble structure now standing at the corner
of Fourth Avenue and Twenty-second Street attests his liberality to this
congregation. He is a trustee in the Wesleyan University, and has
largely endowed that institution; and within the past few years has
contributed several hundred thousand dollars for the endowment of the
Drew Theological Seminary, which has been established at Madison, New
Jersey, for the education of candidates for the Methodist ministry. He
gives largely in aid of missionary work, and is one of the most liberal
men in his denomination. It is said that he gives away at least one
hundred thousand dollars annually in private charities, besides the
large donations with which the public are familiar. He selects his own
charities, and refuses promptly to aid those which do not commend
themselves to him.
His property is estimated at twenty millions of dollars, and he is said
to earn at least half a million of dollars every year. He has two
children, a son and a daughter, the latter of whom is the wife of a
clergyman of the Baptist Church.
Mr. Drew is about five feet ten inches high, and slenderly made. He is
very active and vigorous for his age, and looks a much younger man than
he is. His expression is firm, but withal pleasant. His features are
regular, but dark and deeply marked, while his black hair is still
unstreaked with gray. He is courteous and friendly in his intercourse,
and is very much liked by his acquaintances.
CHAPTER XI.
JAMES B. EADS.
James B. Eads was born in Lawrenceburg, Indiana, in the year 1820. His
father was a man of moderate means, and was able to give him a fair
English education. From his earliest childhood he evinced a remarkable
fondness for all sorts of machinery and mechanical arrangements. This
fondness became at length a passion, and excited the surprise of his
friends, who could not imagine why a mere child should be so much
interested in such things. His greatest delight was to go to the machine
shops in his neighborhood, in which he had many friends, and watch the
workings of the various inventions employed therein.
When he was nine years old his father removed to Louisville, Kentucky.
During the voyage down the Ohio, young Eads passed the most of his time
in watching the engines of the steamer. The engineer was so much pleased
to see his interest in the machinery that he explained the whole system
of the steam-engine to him. The boy listened eagerly, and every word
remained fixed in his mind. Two years later, with no further instruction
on the subject, he constructed a miniature engine, which was worked by
steam. This, for a boy of eleven years, was no insignificant triumph of
genius. His father, anxious to encourage such unmistakable talent, now
fitted up a small workshop for him, in which he constructed models of
saw mills, fire engines, steamboats, and electrotyping machines. When he
was only twelve years old he was able to take to pieces and reset the
family clock and a patent lever watch, using no tool for this purpose
but his pocket-knife.
At the age of thirteen his pleasant employment was brought to a sudden
end. His father lost all his property by the failure of some commercial
transactions, and the family was brought to the verge of ruin. It now
became necessary for young Eads to labor for his own support, and for
that of his mother and sisters. Boy as he was, he faced the crisis
bravely. Having in vain sought employment in Louisville, he resolved to
go to St. Louis. He worked his passage there on a river steamer, and
landed in that city so poor that he had neither shoes to his feet nor a
coat to his back. He found it as difficult to procure work here as it
had been in Louisville, and was at length compelled to resort to
peddling apples on the street in order to secure a living. He did this
for some time, never relaxing his efforts to obtain more desirable
employment.
After many attempts he succeeded in getting a situation in a mercantile
house, at a fair salary. One of his employers was a man of wealth and
culture, and was possessed of one of the finest private libraries in the
West. Learning the extraordinary mechanical talent possessed by his
young clerk, this gentleman placed his library at his disposal. The
offer was promptly and gratefully accepted, and young Eads devoted
almost all his leisure time to the study of mechanics, machinery, and
civil engineering. He remained with this house for several years, and
then obtained a clerkship on one of the Mississippi River steamers,
where he passed several years more. During this time he became
intimately acquainted with the great river and its tributaries, and
acquired an extensive knowledge of all subjects appertaining to western
navigation, which proved of great service to him in his after life.
In 1842, being then twenty-two years old, and having saved a moderate
sum of money, he formed a copartnership with Messrs. Case & Nelson, boat
builders, of St. Louis, for the purpose of recovering steamboats and
their cargoes which had been sunk or wrecked in the Mississippi.
Accidents of this kind were then very common in those waters, and the
business bade fair to be very profitable. The enterprise succeeded
better than had been expected, and the operations of the wrecking
company extended from Galena, Illinois, to the Balize, and into many of
the tributaries of the great river. The parties interested in the scheme
realized a handsome profit on their investments. Mr. Eads was the
practical man of the concern, and worked hard to establish it upon a
successful footing. In 1845 he sold out his interest in the company, and
established a glass manufactory in St. Louis. This was the first
enterprise of the kind ever attempted west of the Mississippi. Two years
later, in 1847, he organized a new company for the purpose of recovering
boats and cargoes lost in the Mississippi and its tributaries. This
company started with a capital of fifteen hundred dollars. It was slow
work at first, but a steady improvement was made every year, and in
1857, just ten years from the date of their organization, the property
of the firm was valued at more than half a million of dollars. During
the winter of 1856-'57, Mr. Eads laid before Congress a formal
proposition to remove the obstructions from the western rivers and keep
them open for a term of years, upon payment of a reasonable sum by the
General Government. Had this proposition been accepted, the benefits
thereby secured to all who were engaged in the navigation of those
rivers would have been very great. A bill was reported in Congress
authorizing the acceptance of Mr. Eads' offer, but was defeated through
the influence of the Senators from Mississippi (Jefferson Davis) and
Louisiana (J.P. Benjamin).
In 1857, Mr. Eads was compelled, on account of ill-health, to retire
from business. He had earned a handsome fortune by his industry and
enterprise, and could well afford to rest for a short time, preparatory,
as it afterward proved, to the most important part of his whole career.
When the secession troubles began to agitate the country, toward the
close of the year 1860, Mr. Eads cast the weight of his private and
public influence on the side of the Union. He felt that the war, if it
should come, would be a very serious affair for the West, as the
prosperity of that section depends largely upon the absolute freedom of
the navigation of the Mississippi. The Confederates well understood
this, and prepared from the first to close the great river until their
independence should be acknowledged by the General Government. Dr.
Boynton, in his "History of the United States Navy During the
Rebellion," thus describes the condition of affairs in the West, a
proper understanding of which will show the reader the importance of the
services subsequently rendered by Mr. Eads:
The main features of the rebel plan of war in the West were to
seize and hold Missouri, and, as a consequence, Kansas and
Nebraska, and thus threaten or invade the free States of the
North-west from that point; to hold Kentucky and Tennessee, and, if
possible, to cross the Ohio, and make the Northern States the
theater of the war; or, in case they should be unable to invade the
North, to maintain their battle line unbroken along the Ohio and
through Missouri; to keep the great rivers closed, and thus holding
back the North, and being secure within their own territory, at
length compel the recognition of their independence. They certainly
presented to the North a most formidable front, a line of defenses
which was indeed impregnable to any means of assault which the
Government at first possessed. No army could be moved into
Tennessee by land alone, because the line of communication with a
Northern base could not be held secure, and a defeat far from the
Ohio would be the destruction of an army, and open the road for an
invasion of Illinois, Indiana, and Ohio, and the destruction of
their cities.
It was quite evident that no impression could be made upon the
power of the rebellion in the West, until a firm foothold could be
gained in Kentucky and Tennessee, and until the Mississippi could
be wrested from the conspirators' control. It was clear that the
whole seaboard might be regained, even to Florida, and yet the
rebellion remain as dangerous as ever, if the rebels could hold the
Mississippi River and the valley up to or near the Ohio.
France was looking with eager eyes toward Texas, in the hope of
securing and extending her Mexican usurpation. England was ready to
give all the assistance in her power to any step which would weaken
the North; and had the rebels been pressed back from the seaports
and the Northern Atlantic slope, they would have had it in their
power, if still holding the Mississippi, the South-west, including
Tennessee, and the great natural fortresses of the mountains, to
have so connected themselves with Mexico and France as to have
caused the most serious embarrassment. It became absolutely
necessary to the success of the Government that the rebels'
northern line of defenses should be broken through, and that the
Mississippi should be opened to its mouth.
At first, and before the nature of the work was fully understood,
the whole was placed under the direction of the War Department, as
it was thought the few armed transports which would be needed would
be a mere appendage of the army. The idea of a formidable river
navy of a hundred powerful steamers did not in the beginning enter
into the minds of any.
It was soon seen, however, that an entirely new description of
craft was needed for this work. It was clear that the river boats,
which had been built for the common purposes of freight and
passage, were not capable of resisting the fire of heavy artillery,
and that the batteries of the rebels could not be captured nor even
passed by them. They could not even be safely employed alone in the
transportation of troops, for they could be sunk or crippled by the
field batteries that could be moved from point to point. The
question of iron-clads was proposed, but with only the ocean
iron-clads as a guide, who should conceive the proper form of an
armored boat which could navigate our rivers and compete
successfully with the heavy guns, rifled as well as smooth-bore, of
the fortifications. It was by no means easy to solve this problem,
but it was absolutely necessary that the attempt should be made....
These forts could only be reduced by the aid of gunboats, and
these were almost literally to be created.
There was in the Cabinet of President Lincoln at this time a western
man, intimately acquainted with the steamboat interest of the
Mississippi. This was Edward Bates, the Attorney-General of the United
States. He was an old friend of Mr. Eads, and felt assured that in case
of war the services of that gentleman would be of the greatest value to
the country. When it was found that hostilities could not be avoided, he
mentioned the name of Mr. Eads to the Cabinet, and strongly urged that
his services should be secured at the earliest possible moment. On the
17th of April, 1861, three days after Fort Sumter had fallen, he wrote
to Mr. Eads, who was living in comfortable retirement, at St. Louis: "Be
not surprised if you are called here suddenly by telegram. If called,
come instantly. In a certain contingency it will be necessary to have
the aid of the most thorough knowledge of our western rivers, and the
use of steam on them, and in that event I have advised that you should
be consulted."
A few days later Mr. Eads was summoned to Washington. Mr. Bates there
explained to him in full a plan he had conceived for occupying Cairo,
and endeavoring to hold the Mississippi by means of gunboats. Mr. Eads
warmly indorsed the plan, and was introduced by Mr. Bates to the
President and members of the Cabinet. When the plan was proposed to the
Cabinet, the Secretary of War pronounced it unnecessary and
impracticable, but the Secretary of the Navy was much impressed with
it, and requested Mr. Eads to submit his views in writing, which was
done. The paper embodied Judge Bates's general plan in addition to Mr.
Eads's own views, and contained suggestions as to the kind of boats best
fitted for service on the western rivers, and also in regard to the best
points on those streams for the erection of land batteries. This paper
was submitted to the Navy Department on the 29th of April, 1861, and was
referred by the Secretary to Commodore Paulding, who reported in favor
of its adoption.
The Secretary of the Navy now detailed Captain John Rodgers to accompany
Mr. Eads to the West, and purchase and fit out such steamers as should
be found necessary for the service. Up to this time the Secretary of War
had manifested the most supreme indifference in regard to the whole
subject, but he now claimed entire jurisdiction in the matter, and this
interference caused considerable vexation and delay. At length he issued
an order to Mr. Eads and Captain Rodgers to proceed with their
purchases. These gentlemen obtained the approval of General McClellan,
in whose department the purchases were to be made, and began their
operations.
Upon arriving at Cairo, they found one of the old snag-boat fleet,
called the "Benton." Mr. Eads knew the boat well, as he had formerly
owned her, and proposed to purchase and arm her, but Captain Rodgers did
not approve the plan for converting her into a gunboat. Mr. Eads then
proposed to purchase and arm several of the strong, swift boats used for
the navigation of the Missouri River, and equip them at St. Louis, from
which point there would always be water enough to get them below Cairo.
Captain Rodgers disapproved this plan also, and went to Cincinnati,
where he purchased and equipped the "Conestoga," "Tyler," and
"Lexington," and started them down the river. They were not iron-clad,
but were merely protected around the boilers with coal bunkers, and
provided with bullet-proof oaken bulwarks. Mr. Eads had warned Captain
Rodgers that he could not depend upon the Ohio to get his boats down to
Cairo, and his predictions were realized. The boats were started from
Cincinnati some time in July; they were detained on the bars of the Ohio
for six or seven weeks, and did not reach Cairo until about the first of
September; then the bottom of the "Tyler" was found to be so badly
damaged by sand-bars that she had to be put on the marine railway for
repairs.
In July, 1861, the War Department advertised for proposals to construct
a number of iron-clad gunboats for service on the Mississippi River. On
the 5th of August, when the bids were opened, it was found that Mr. Eads
proposed to build these boats in a shorter time and upon more favorable
terms than any one else. His offer was accepted, and on the 7th of
August he signed a contract with Quartermaster-General Meigs to have
ready for their crews and armaments, _in sixty-five days_, seven
vessels, of about six hundred tons each, each to draw six feet of water,
to carry thirteen heavy guns, to be plated with iron two and a half
inches thick, and to steam nine miles per hour. "They were one hundred
and seventy-five feet long, and fifty-one and a half feet wide; the
hulls of wood; their sides placed out from the bottom of the boat to the
water line at an angle of about thirty-five degrees, and from the water
line the sides fell back at about the same angle, to form a slanting
casemate, the gun-deck being but a foot above water. This slanting
casemate extended across the hull, near the bow and stern, forming a
quadrilateral gun-deck. Three nine or ten-inch guns were placed in the
bow, four similar ones on each side, and two smaller ones astern. The
casemate inclosed the wheel, which was placed in a recess at the stern
of the vessel. The plating was two and a half inches thick, thirteen
inches wide, and was rabbeted on the edges to make a more perfect
joint."
In undertaking to complete these vessels in sixty-five days, Mr. Eads
had assumed a heavy responsibility. The manufacturing interests of the
West were sadly crippled by the sudden commencement of hostilities, and
doubt and distrust prevailed every-where. The worst feature of all was,
that skilled workmen were either enlisting in the army or seeking
employment in States more remote from the scene of war. Every thing
needed for the gunboats was to be made. Even the timber for their hulls
was still standing in the forest, and the huge machinery which was to
roll out and harden their iron plates had yet to be constructed. No
single city, no two cities, however great in resources, could possibly
supply every thing needed within the stipulated time, and it was
necessary to employ help wherever it could be obtained.
The very day the contract was signed, the telegraph was kept busy
sending instructions all over the West for the commencement of the
various parts of the work. The saw-mills in Kentucky, Tennessee,
Illinois, Indiana, Ohio, Minnesota, and Missouri were set to getting out
the timber, which was hurried to St. Louis by railroad and steamboat as
fast as it was ready. There were twenty-one steam engines and
thirty-five boilers to be made, and the machine-shops in St. Louis,
Cincinnati, and Pittsburgh were put to work upon them. The huge
rolling-mills of Cincinnati and Portsmouth, Ohio, Newport, Kentucky, and
St. Louis were engaged in making the iron plates, and employed for this
purpose no less than four thousand men. Night and day, Sundays included,
the work went on with an almost superhuman swiftness. Mr. Eads paid the
workmen on the hulls large sums from his own pocket, in addition to
their wages, to induce them to continue steadily at their work.
On the 12th of October, 1861, just forty-five days from the time of
laying her keel, the first iron-clad, belonging to the United States,
was launched, with her engines and boilers on board. Rear Admiral Foote
(then a flag officer), appointed to command the Mississippi squadron,
named her the "St. Louis," but upon being transferred to the Navy
Department her name was changed to the "Baron de Kalb." She was followed
by the other vessels in rapid succession, all being completed within the
stipulated time.
In September, 1861, General Fremont ordered the purchase of the snag
boat "Benton," which had been proposed by Mr. Eads and rejected by
Captain Rodgers, and sent her to Mr. Eads to be armored and equipped as
a gunboat. Work was at once begun on her, and pushed forward with the
same energy that had been displayed in the construction of the other
iron-clads. Her performances during the war fully sustained the high
esteem in which she was held by the officers of the navy. Admirals Foote
and Davis pronounced her the "best iron-clad in the world."
By dint of such skill and energy as we have described, Mr. Eads, in the
brief period of one hundred days, built and had ready for service a
powerful iron-clad fleet of eight steamers, carrying one hundred and
seven heavy guns, and having an aggregate capacity of five thousand
tons. Such a work was one of the greatest in magnitude ever performed,
and, as may be supposed, required a heavy capital to carry it to
perfection. Mr. Eads soon exhausted his own means, and but for the
assistance of friends, whose confidence in his integrity and capacity
induced them to advance him large sums, would have been compelled to
abandon the undertaking; for the Government, upon various pretexts,
delayed for months the stipulated payments, and by its criminal
negligence came near bringing the iron-clad fleet, so necessary to its
success, to an untimely end. It was prompt enough, however, to
commission the vessels as soon as they were ready. At the time they
rendered such good service in the conquest of Forts Henry and Donelson,
and compelled the fall of Island No. 10, they were still unpaid for, and
the private property of Mr. Eads.
In the spring of 1862, Mr. Eads, in accordance with the desire of the
Navy Department, submitted plans for light-draught armored vessels for
service on the western rivers. He proposed an ingenious revolving turret
to be used on these vessels, the performance of which he agreed to
guarantee to the satisfaction of the Department; but the Government
decided to use the Ericsson turret, which the recent encounter between
the Monitor and Merrimac had proved to be a success. Mr. Eads was
allowed, however, to modify the Ericsson turret considerably, in order
to avoid making the draft of his steamers greater than was desired. He
built the "Osage" and "Neosho," and when these vessels were launched,
with all their weight on board, it was found that they were really
lighter than the contract called for, a circumstance which permitted the
thickness of their armor to be afterward increased half an inch without
injuring their draught or speed.
In May, 1862, at the request of the Navy Department, Mr. Eads submitted
plans for four iron-clads, iron hull propellers, to carry two turrets
each of eight inches thickness, four eleven inch guns, and
three-quarters inch deck armor, to steam nine nautical miles per hour,
to carry three days' coal, and not to exceed a draught of six feet of
water. His plans were accepted, and he constructed the "Winnebago,"
"Kickapoo," "Milwaukee," and "Chickasaw." Like the "Osage" and "Neosho,"
these vessels were found to be of lighter draught than had been agreed
upon, and the Department ordered all four to have an extra plating of
three-quarters inch armor, which was done. Three of the vessels were
also reported, by the officers of the navy sent to examine them, to
exceed the speed required by the contract, while the fourth was fully up
to the standard.
Of how many "Government Contractors" during the war can it be said that
their work was much better than they had agreed to furnish? Verily, we
think Mr. Eads stands almost alone in this respect, his proud position
made still more honorable by its comparative isolation.
Mr. Eads built, during the war, fourteen heavily armored gunboats, four
heavy mortar boats, and converted seven transports into musket-proof
gunboats, or "tin-clads," as they were called on the river. He had a
share in other enterprises of a similar nature during the war, and
besides rendering good service to the Union, was enabled to retire at
the close of the struggle with a handsome fortune, won by his own
patriotic skill and energy.
Whatever may be the distinction awarded to others, to him belongs the
credit of having been the first to provide the Government with the means
of securing that firm hold upon the great river of the West which, once
gained, was never relaxed.
Mr. Eads resides in St. Louis. He is still in the prime of life, is
admired and honored by his fellow-citizens, and affords a splendid
example of what genius and industry can do for a poor, friendless boy in
that glorious western country which is one day to be the seat of empire
in the New World.
CHAPTER XII.
CYRUS W. FIELD.
Cyrus far we have been considering the struggles of men who have risen
from obscure positions in life, by the aid of their own genius,
industry, and courage, to the front rank of their respective callings.
We shall now relate the story of one who having already won fortune,
periled it all upon an enterprise in which his own genius had recognized
the path to fame and to still greater success, but which the almost
united voice of the people of his country condemned as visionary, and
from which they coldly held aloof until its brilliant success compelled
them to acknowledge the wisdom and foresight of its projector.
Fifteen years ago very few persons had heard of Cyrus W. Field. Ten
years ago he had achieved considerable notoriety as a visionary who was
bent on sinking his handsome fortune in the sea. To-day, the world is
full of his fame, as the man to whom, above all others, it is indebted
for the successful completion of the Atlantic Telegraph; and those who
were formerly loudest in ridiculing him are now foremost in his praise.
"Nothing succeeds like success," and what was once in their eyes mere
folly, and worthy only of ridicule, they now hail as the evidences of
his courage, foresight, and profound wisdom, and wonder that they never
could see them in their true light before.
Cyrus West Field was born at Stockbridge, Massachusetts, on the 30th day
of November, 1819, and is the son of the Rev. David Dudley Field, a
distinguished clergyman of that State. He was carefully educated in the
primary and grammar schools of his native county, and at the age of
fifteen went to New York to seek his fortune. He had no difficulty in
obtaining a clerkship in an enterprising mercantile house in that city,
and, from the first, gave evidence of unusual business capacity. His
employers, pleased with his promise, advanced him rapidly, and in a few
years he became a partner in the house. His success as a merchant was
uniform and marked--so marked, indeed, that in 1853, when only
thirty-four years old, he was able to partially retire from business
with a large fortune as the substantial reward of his mercantile career.
Mr. Field had devoted himself so closely to his business that, at his
retirement, he resolved to seek recreation and change of scene in
foreign travel, and accordingly he left New York, and passed the next
six months in journeying through the mountains of South America. Upon
his return home, at the close of the year 1853, he declared his
intention to withdraw entirely from active participation in business,
and to engage in no new schemes.
He had scarcely returned home, however, when his brother, Mr. Matthew D.
Field, a successful and well-known civil engineer, informed him that he
had just become acquainted with a Mr. Frederick N. Gisborne, of
Newfoundland, who had come to New York for the purpose of interesting
some American capitalists in a company which had been organized in
Newfoundland for the purpose of procuring news in America and Europe,
and transmitting it between the two continents with greater dispatch
than was possible in the then existing mode of communication between the
two countries. The scheme of Mr. Gisborne had commended itself to Mr.
Matthew Field, and he urged his brother to meet that gentleman and hear
his statements. Mr. Cyrus Field at once declined to undertake any share
in the enterprise, and said that it would be useless for him to meet Mr.
Gisborne; but his brother was so urgent that he at last consented to
grant Mr. Gisborne an interview, and at least hear what he had to say.
At the appointed time, Mr. Field received Mr. Gisborne at his house, and
was there made acquainted with the proposed plan of operations of the
"Electric Telegraph Company of Newfoundland." This company had gone into
bankruptcy a short time previous, but Mr. Gisborne hoped to be able to
revive it by the aid of American capital. The scheme which he laid
before Mr. Field, can not be better stated than by quoting the following
extract from the charter which the Legislature of Newfoundland had
granted the bankruptcy company:
"The telegraph line of this company is designed to be strictly an
'Inter-Continental Telegraph,' Its termini will be New York, in the
United States, and London, in the Kingdom of Great Britain; these points
are to be connected by a line of electric telegraph from New York to St.
John's, Newfoundland, partly on poles, partly laid in the ground, and
partly through the water, and a line of the swiftest steamships ever
built, from that point to Ireland. The trips of these steamships, it is
expected, will not exceed five days, and as very little time will be
occupied in transmitting messages between St. John's and New York, the
communication between the latter city and London or Liverpool, will be
effected in _six days,_ or less. The company will have likewise
stationed at St. John's a steam yacht, for the purpose of intercepting
the European and American steamships, so that no opportunity may be
lost in forwarding intelligence in advance of the ordinary channels of
communication."
Mr. Field listened attentively to his visitor, but declined to commit
himself to more than an expression of sympathy with the enterprise.
After the departure of his guest, he took the globe which stood in his
library, and turning it over, began to examine the proposed route of the
telegraph line and the distance to be traversed by the steamers. While
engaged in this examination, the idea flashed across his mind that
instead of undertaking such a complicated scheme, it would be better to
attempt to stretch a telegraph wire entirely across the ocean, from the
shores of Newfoundland to the coast of Ireland. The vastness of this
scheme pleased him, and its usefulness to the entire world, if it could
be carried out, was clear to his mind from the first.
He at once set to work to ascertain if such an undertaking as an
Atlantic telegraph was practicable. He wrote to Lieutenant Maury, then
the Chief of the National Observatory at Washington, and asked if the
laying of such a wire was possible; and to Professor Morse, the inventor
of the telegraph, to know if such a wire would be available for sending
messages if it could be laid. Lieutenant Maury promptly replied,
inclosing a copy of a report he had just made to the Secretary of the
Navy on the subject, from which Mr. Field learned that the idea of
laying a telegraph across the ocean was not original with himself. In
this report Lieutenant Maury demonstrated the entire practicability of
such an enterprise, and sustained his conclusions by a statement of the
recent discoveries concerning the bed of the ocean, made by Lieutenant
Berryman. Professor Morse came in person to visit Mr. Field, and assured
him of his entire faith in the possibility of sending telegraphic
messages across the ocean with rapidity and success.
The two highest authorities in the world thus having assured him of the
entire practicability of the undertaking, Mr. Field declared his
readiness, if he could procure the assistance of a sufficient number of
capitalists in the United States, to undertake the laying of a telegraph
across the Atlantic between Europe and America. Further deliberation
only made him better satisfied with the undertaking, and he set to work
to find ten capitalists, each of whom he proposed should contribute one
hundred thousand dollars, making the capital of the proposed company one
million of dollars. Mr. Field was convinced that the undertaking would
be expensive, but he had then but a faint conception of its magnitude,
and was very far from supposing that "he might yet be drawn on to stake
upon its success the whole fortune he had accumulated; that he was to
sacrifice for it all the peace and quiet he had hoped to enjoy, and that
for twelve years he was to be almost without a home, crossing and
recrossing the sea, urging his enterprise in Europe and America."
The scientific questions involved in the undertaking were so little
understood at the time by the public, and the popular judgment regarded
the attempt to stretch a cable across the deep, mysterious ocean with so
much incredulity, that Mr. Field had considerable trouble in finding
gentlemen willing or prepared to share his faith in the enterprise. His
first effort was to induce Mr. Peter Cooper, of New York, his next door
neighbor, to join him, and he succeeded so well that Mr. Cooper
consented to do so if several others would unite with them. Encouraged
by his success with Mr. Cooper, whose name was a tower of strength to
his cause, Mr. Field renewed his efforts, and succeeded in winning over
the following gentlemen, and in the order named: Moses Taylor, Marshall
O. Roberts, and Chandler White. These gentlemen were very slow to accept
the views of Mr. Field, but, once having done so, they never lost faith
in the ultimate success of the undertaking. The more thoroughly they
became acquainted with its magnitude and costliness, the stronger grew
their confidence in it, for this increase of knowledge not only showed
them more plainly its difficulties and dangers, but developed new
grounds on which to base their hopes.
Mr. Field was about to continue his efforts to procure additional names,
when Mr. Cooper proposed that the five gentlemen already pledged to the
scheme should undertake its entire cost without waiting for the other
four. The proposition was agreed to, and it was decided to take the
necessary steps to procure a charter for their company from the
Legislature of Newfoundland. Mr. Field consented to undertake this, and
at once set off for St. John's, accompanied by his brother, Mr. David
Dudley Field, who was made the legal adviser of the company. At St.
John's they were greatly aided by Mr. Archibald, then the
Attorney-General of the Colony, and afterward the British Consul at New
York, and by the Governor of Newfoundland. They succeeded in obtaining a
charter from the Legislature under the name of the "New York,
Newfoundland, and London Telegraph Company," with liberal grants in land
and money. This accomplished, they assumed and paid the liabilities of
the old Telegraph Company which had been brought to Mr. Field's notice
by Mr. Gisborne, and thus removed the last difficulty in their way. This
much accomplished, Mr. Field hastened back to New York, and on the 6th
of May, 1854, the Company was formally organized at the residence of Mr.
David Dudley Field. Messrs. Cooper, Taylor, Field, Roberts, and White
were the first directors. Mr. Cooper, was made President of the
Company, Mr. White, Vice-President, and Mr. Taylor Secretary. A capital
of one million and a half of dollars was subscribed on the spot, Mr.
Field contributing about two hundred thousand dollars in cash.
Work was at once begun on the section between New York and St. John's.
There was no road across the island of Newfoundland, and the Company had
not only to build their telegraph line, but to construct a road by the
side of it through an almost unbroken wilderness. It was a work which
required the highest executive ability, and the services of an army of
men. The distance across the island was four hundred miles, and there
were numerous rocky gorges, morasses, and rivers in the way. The country
was a desolation, and it was found that supplies would have to be
transported from St. John's. The execution of the work was committed to
Mr. White, the Vice-President, who went to St. John's to act as the
general agent of the Company, and to Mr. Matthew D. Field, who was
appointed constructing engineer. These gentlemen displayed such skill
and energy in their respective positions that in two years the Company
had not only built a telegraph line and a road of four hundred miles
across the island, but had constructed another line of one hundred and
forty miles in the island of Cape Breton, and had stretched a submarine
cable across the Gulf of St. Lawrence.[A] The line was now in working
order from New York to St. John's, Newfoundland, a distance of one
thousand miles, and it had required about a million of dollars for its
construction. It now remained to complete the great work by laying the
cable between Newfoundland and Ireland.
[Footnote A: The first effort to lay a cable in the Gulf of St. Lawrence
was made by this Company, in August, 1855. It was a failure, and the
cable was lost. The second attempt was made in the summer of 1856, and
was entirely successful.]
It being desirable to examine still further the bed of the ocean over
which the cable was to be laid, Mr. Field requested the Government of
the United States to send out an expedition over the route for the
purpose of taking deep sea soundings. His request was promptly granted,
and an expedition under Lieut. Berryman was dispatched, which proceeded
to examine the ocean bed, with the most satisfactory results. This was
accomplished in the summer of 1856, and the next year the same route was
surveyed by Commander Daymon, with the British war steamer Cyclops--this
survey being ordered by the Lords of the Admiralty, at Mr. Field's
request. These surveys made it plain beyond question that a cable could
lie safely on the bed of the sea, at a depth sufficient to protect it
from vessels' anchors, from icebergs, and from submarine currents, and
that it would receive sufficient support from that bed to free it from
all undue tension. There was no doubt of the ultimate success of the
enterprise in the minds of the directors, but it was necessary to
convince the public in both Europe and America that it was not an
impossibility, and also to enlist the sympathies of the Governments of
Great Britain and the United States, and secure their assistance.
Mr. Field, who had made several voyages to England and to Newfoundland
in behalf of the company, was elected Vice-President after the death of
Mr. White, in 1856, and was charged with the duty of proceeding to
England to obtain the assistance of the British Government, and to
organize the company in London. Thus far the directors had borne the
entire cost of the undertaking, and it was but fair that they should
seek the means for completing their work in the country which was to be
so much benefited by it. Mr. Field sailed for England in the summer of
1856, and upon reaching that country proceeded to consult some of its
most eminent engineers and electricians. The English people were slow to
believe that so long a cable could be successfully worked, even if laid
intact, and to remove their doubts, the opinions of Professor Morse and
Lieutenant Maury were published in their newspapers; and this
publication brought out communications from many scientific men on the
subject, a number of them advocating the undertaking. Thus, the
attention of the English public was gained. Experiments were made by
Professor Morse, Mr. Bright, and Dr. Whitehouse, which proved beyond all
doubt the ease with which a continuous line of more than two thousand
miles of wire could be worked; and Professor Morse was able, from these
experiments, to declare his conviction that an electric current could
pass between London and New York, on such a wire, in the space of one
second.
Science had now done its utmost, and had in every thing sustained the
great plan. It was now necessary to ask the aid of Her Majesty's
Government. This effort was intrusted to Mr. Field, who carried it
through successfully. The English Government agreed to furnish the ships
necessary for making soundings and surveys, and to furnish vessels to
assist in laying the cable. It also agreed to pay to the company an
annual subsidy of fourteen thousand pounds for the transmission of the
government messages until the net profits of the company were equal to a
dividend of six pounds per cent., when the payment was to be reduced to
ten thousand pounds per annum, for a period of twenty-five years.
Provision was made for extra payment, in case the government messages
exceeded a certain amount; and it was provided that the messages of the
Governments of Great Britain and the United States should be placed upon
an equal footing, and should have priority in the order in which they
arrived at the stations. This last provision exhibited a decided
liberality on the part of the English Government, since both ends of the
proposed cable would be in British territory. Indeed, throughout the
whole negotiation, Great Britain cheerfully accorded to the United
States every privilege which she claimed for herself.
Having secured the aid of the Queen's Government on such liberal terms,
Mr. Field now undertook the organization of the company, in addition to
the task of raising a capital of three hundred and fifty thousand
pounds. In both efforts he was effectively assisted by Mr. John W.
Brett, who had laid the first cable across the English Channel, and by
Mr. Charles T. Bright and Dr. Edward O.W. Whitehouse. The efforts of
these gentlemen were successful. In a few weeks the whole capital was
subscribed. It had been divided into three hundred and fifty shares of a
thousand pounds each. One hundred and one of these were taken up in
London, eighty-six in Liverpool, thirty-seven in Glasgow, twenty-eight
in Manchester, and a few in other parts of England. Mr. Field, at the
final division of shares, took eighty-eight. He did not design making
this investment on his own account, but thinking it but fair that at
least one-fourth of the stock should be held in America, he made this
subscription with the intention of disposing of his shares after his
return home. Owing to his continued absence from New York, and the
straitened condition of the money market, it was nearly a year before he
could succeed in selling as much as twenty-seven shares. The company was
organized in December, 1856, a Board of Directors elected, and a
contract made for the cable, half of which was to be made in London and
the other half in Liverpool.
The day after the organization of the company, Mr. Field sailed for New
York, from which place he at once made a voyage to Newfoundland, to look
after some matters which required his presence. Returning home, he
hurried to Washington, to secure the aid of the General Government. He
met with more opposition here than he had encountered in England. A
powerful lobby opposed him, and a spirit of hostility to his bill
exhibited itself in Congress, and to such a degree that the measure
passed the Senate by a majority of only one vote. It came very near
failing in the House, but at length got through, and received the
President's signature on the 3d of March, 1857.
In the summer of 1857, Mr. Field having returned to England, the cable
was declared to be in readiness for laying. The United States Government
now placed at the disposal of the Telegraph Company the magnificent new
steam frigate "Niagara," as the most suitable vessel for laying the
cable, and ordered the "Susquehanna," the largest side-wheel frigate in
the service, to accompany her in the expedition. The British Government
provided the steam frigate "Agamemnon," a splendid vessel, which had
been the flagship of the English fleet at the bombardment of Sebastopol,
and ordered the "Leopard" to accompany her as an escort. The "Niagara"
was commanded by Captain W.L. Hudson, of the United States Navy, and the
"Agamemnon" by Captain Noddal, of the Royal Navy. The "Niagara" took on
her share of the cable at Liverpool, and the "Agamemnon" received hers
at London. It was agreed that the "Niagara" should begin the laying of
the cable, and continue it until her portion of it should be exhausted
in mid-ocean, when her end of it should be united with the cable on
board the "Agamemnon," which ship should continue laying the line until
the shores of Newfoundland were reached. After taking on the cable, the
ships were ordered to Queenstown.
The vessels left England in the midst of general rejoicings, and arrived
at the rendezvous at the proper time. Thence they sailed for the harbor
of Valentia, which was to be the eastern terminus of the line and the
starting point of the expedition. They were greeted every-where with
enthusiasm, and the greatest confidence in the success of the
enterprise was manifested by those on board. Mr. Field, Professor Morse,
and several other officers of the company were on board the "Niagara,"
as that ship was to conduct the first part of the sinking of the cable.
At length all was in readiness. The shore end of the cable was landed
and made fast on Wednesday afternoon, the 5th of August, and the next
morning the fleet stood out to sea. "Before they had gone five miles the
heavy shore end of the cable caught in the machinery and parted. The
'Niagara' put back, and the cable was 'underrun' the whole distance. At
length the end was lifted out of the water and spliced to the gigantic
coil, and as it dropped safely to the bottom of the sea, the mighty ship
began to stir. At first she moved very slowly, not more than two miles
an hour, to avoid the danger of accident; but the feeling that they are
at last away is itself a relief. The ships are all in sight, and so near
that they can hear each other's bells. The 'Niagara,' as if knowing that
she is bound for the land out of whose forests she came, bends her head
to the waves, as her prow is turned toward her native shores.
"Slowly passed the hours of that day. But all went well, and the ships
were moving out into the broad Atlantic. At length the sun went down in
the west, and stars came out on the face of the deep. But no man slept.
A thousand eyes were watching a great experiment, as those who have a
personal interest in the issue. All through that night, and through the
anxious days and nights that followed, there was a feeling in every soul
on board as if a friend in the cabin were at the turning-point of life
or death, and they were watching beside him. There was a strange,
unnatural silence in the ship. Men paced the deck with soft and muffled
tread, speaking only in whispers, as if a loud voice or a heavy footfall
might snap the vital cord. So much had they grown to feel for the
enterprise, that the cable seemed to them like a human creature, on
whose fate they hung, as if it were to decide their own destiny.
"There are some who will never forget that first night at sea. Perhaps
the reaction from the excitement on shore made the impression the
deeper. What strange thoughts came to them as they stood on the deck and
watched that mysterious cord disappearing in the darkness, and gliding
to its ocean bed! There are certain moments in life when every thing
comes back upon us--when the events of years seem crowded into an hour.
What memories came up in those long night hours! How many on board that
ship thought of homes beyond the sea, of absent ones, of the distant and
the dead! Such thoughts, mingling with those suggested by the scene
around, added to the solemnity of the hour, had left an impression which
can never be forgotten.
"But with the work in hand all is going on well. There are vigilant eyes
on deck. Mr. Bright, the engineer of the company, is there, and Mr.
Everett, Mr. De Sauty, the electrician, and Professor Morse. The
paying-out machinery does its work, and though it makes a constant
rumble in the ship, that dull, heavy sound is music to their ears, as it
tells them that all is well. If one should drop to sleep, and wake up at
night, he has only to hear the sound of 'the old coffee-mill,' and his
fears are relieved, and he goes to sleep again."
Saturday and Sunday passed away without accident, but on Monday, when
two hundred miles at sea, in deep water, and safely beyond the great
submarine mountain, the electrical continuity was suddenly lost. This
interruption amazed and perplexed all on board, but no one was able to
remedy it, or to account for it satisfactorily. It lasted for two hours,
and then, just as the order was about to be given to cut the cable and
endeavor to wind it in, it came back as suddenly and mysteriously as it
had disappeared. The greatest delight was now manifested by all on
board. "You could see," says the correspondent of the London _Times_,
"the tears of joy standing in the eyes of some as they almost cried for
joy, and told their mess-mates that it was all right."
That night, however, the expedition came to grief. The cable was running
out freely at the rate of six miles per hour, while the ship was making
only four. This was supposed to be owing to a powerful undercurrent. To
check this waste of the cable the engineer applied the brakes firmly,
which at once stopped the machine. The effect was to bring a heavy
strain on the cable that was in the water. The stern of the ship was
down in the trough of the sea, and as it rose upward on the swell, the
pressure was too great, and the cable parted. The alarm was at once
given, and the greatest consternation and grief prevailed on board. "It
made all hands of us through the day," says Captain Hudson, "like a
household or family which had lost their dearest friend, for officers
and men had been deeply interested in the success of the enterprise."
The fleet immediately put about and returned to England, where Mr. Field
at once informed the directors of the extent of the disaster. The
remaining portions of the cable were landed and stored safely away, and
the vessels were returned to their respective Governments. Orders were
given for the manufacture of seven hundred miles of cable to replace the
portion which had been lost, and to allow for waste in paying it out,
and the most energetic preparations were made for another attempt.
Being satisfied that the machine used for paying out the cable was
defective, Mr. Field went to Washington and procured from the Navy
Department the services of Mr. Wm. E. Everett, the chief engineer of the
"Niagara," stating to that gentleman the necessity for a new machine,
and urging him to invent it. This Mr. Everett succeeded in doing during
the winter. His machine was regarded as a great improvement on that
which had been used on the "Niagara." "It was much smaller and lighter.
It would take up only about one third as much room on the deck, and had
only one fourth the weight of the old machine. Its construction was much
more simple. Instead of four heavy wheels, it had but two, and these
were made to revolve with ease, and without danger of sudden check, by
the application of what were known as self-releasing brakes. These were
the invention of Mr. Appold, of London, a gentleman of fortune, but with
a strong taste for mechanics, which led him to spend his time and wealth
in exercising his mechanical ingenuity. These brakes were so adjusted as
to bear only a certain strain, when they released themselves. This
ingenious contrivance was applied by Mr. Everett to the paying-out
machinery. The strength of the cable was such that it would not break
except under a pressure of a little over three tons. The machinery was
so adjusted that not more than half that strain could possibly come upon
the cable, when the brakes would relax their grasp, the wheels revolve
easily, and the cable run out into the sea 'at its own sweet will.' The
paying-out machine, therefore, we are far from claiming as wholly an
American invention. This part of the mechanism was English. The merit of
Mr. Everett lay in the skill with which he adapted it to the laying of
the Atlantic cable, and in his great improvements of other parts of the
machinery. The whole construction, as it afterward stood upon the decks
of the 'Niagara' and the 'Agamemnon,' was the combined product of
English and American invention."
In January, 1858, the Board of Directors offered Mr. Field the sum of
five thousand dollars per annum if he would assume the post of general
manager of the company. He at once undertook the duties of the
position, but declined all compensation.
Every thing being in readiness for the second attempt at laying the
cable, the "Niagara" sailed from New York in March, 1858, to take on her
portion of the cable at Plymouth. The "Agamemnon" was again ordered to
assist in the undertaking, and the "Gorgon" was made her consort Mr.
Field had hoped that the "Susquehanna" would again be the consort of the
"Niagara," but a few days before the sailing of the fleet he was
officially informed that he could not have the ship, as she was then in
the West Indies, with the greater part of her crew down with the yellow
fever. This was a keen disappointment, as every arrangement had been
made with the expectation of having the assistance of the "Susquehanna."
It was too late to ask the Government at Washington for another ship,
and it was by no means certain that the request would be granted if
made. In this dilemma Mr. Field frankly stated his disappointment to the
Lords of the Admiralty of England, and asked for a ship to accompany the
"Niagara." He was informed that the English Government was at that
moment chartering vessels to convey troops to Malta, as it had not ships
enough of its own, and that it was doubtful whether it could contribute
a third ship to the expedition. Still, so greatly did the government
desire the success of the enterprise, that a little later on the same
day the "Valorous" was ordered to take the place of the "Susquehanna" in
the telegraph fleet. This generous assistance was all the more
praiseworthy, as it was given at a time when the need of England for
ships was very urgent.
After shipping the cable, the squadron sailed from Plymouth on the 29th
of May, 1868, for the Bay of Biscay, where the cable was subjected to
numerous and thorough tests, which demonstrated its strength and its
sensitiveness to the electric current. This accomplished, the vessels
returned to Plymouth.
"Among the matters of _personal_ solicitude and anxiety at this time,
next to the success of the expedition, was Mr. Field himself. He was
working with an activity which was unnatural--which could only be kept
up by great excitement, and which involved the most serious danger. The
strain on the man was more than the strain on the cable, and we were in
fear that both would break together. Often he had no sleep, except such
as he caught flying on the railway. Indeed, when we remonstrated, he
said he could rest better there than anywhere else, for then he was not
tormented with the thought of any thing undone. For the time being he
could do no more; and then, putting his head in the cushioned corner of
the carriage, he got an hour or two of broken sleep.
"Of this activity we had an instance while in Plymouth. The ships were
then lying in the Sound, only waiting orders from the Admiralty to go to
sea; but some business required one of the directors to go to Paris,
and, as usual, it fell upon him. He left on Sunday night, and went to
Bristol, and thence, by the first morning train, to London. Monday he
was busy all day, and that night went to Paris. Tuesday, another busy
day, and that night back to London. Wednesday, occupied every minute
till the departure of the Great Western train. That night back to
Plymouth. Thursday morning on board the 'Niagara,' and immediately the
squadron sailed."
The plan of operations this time was for the vessels to proceed to a
given point in mid-ocean, and there unite the two ends of the cable,
after which the "Niagara" should proceed toward Newfoundland and the
"Agamemnon" toward Ireland, and it was supposed that each vessel would
make land about the same time. This was believed to be a better plan
than the one pursued in the first expedition.
The squadron sailed from Plymouth on the 10th of June. The weather was
favorable for the first two or three clays of the voyage, but on the
13th a severe gale set in, which lasted for over a week, and came near
causing the "Agamemnon" to founder beneath her immense load, a portion
of which broke loose in her hold. All the vessels succeeded in
weathering the storm, however, and on the 25th reached the rendezvous in
mid-ocean. The next day the splice was made, and the ships set out for
their respective destinations. Before they had gone three miles the
machinery of the "Niagara" caught the cable and broke it. A second
splice was made, but when each ship had paid out about forty miles, the
electric current suddenly ceased. The cable was cut promptly, and the
two vessels at once returned to the rendezvous, where they rejoined each
other on the 28th. A comparison of the logs of the two ships "showed the
painful and mysterious fact that at the same second of time each vessel
discovered that a total fracture had taken place, at a distance of
certainly not less than ten miles from each ship, in fact, as well as can
be judged, at the bottom of the ocean." A third splice was made without
delay, and the two ships again set out for the opposite shores of the
Atlantic. This time about two hundred miles of the cable were
successfully laid, when it parted about twenty feet from the stern of
the "Agamemnon." The "Niagara," being unable to communicate with the
English frigate, bore away for Queenstown, where she was joined a few
days later by the "Agamemnon."
This second failure greatly disheartened the directors, and it required
all Mr. Field's persuasiveness to induce them to sanction another
attempt. Yet he prevailed, and, hastening from London to Queenstown,
sailed with the telegraph fleet on the third attempt to lay the cable,
leaving Queenstown on the 17th of July. The rendezvous was reached on
the 28th, and on the 29th the splice was made; and the "Niagara" and
"Agamemnon" parted company. This time the undertaking was successful.
The cable was laid across the Atlantic, the "Niagara" reaching Trinity
Bay, Newfoundland, on the 5th of August, and the "Agamemnon" arriving
at Valentia, Ireland, a few hours later on the same day. Signals were
sent across the entire length of the line, from shore to shore, with
ease and rapidity, and nothing occurred to mar the success of the mighty
undertaking.
The successful laying of the cable was hailed with the liveliest joy on
both sides of the Atlantic, and those who had participated in it were
regarded as heroes. But great as was the achievement, it was not
destined to be a lasting success. After working for four weeks, the
electric current suddenly ceased on the 1st of September. It never
worked _perfectly_ at any period of its existence, but it did transmit a
number of messages with intelligibleness, and thus put an end to all
doubt in the minds of the scientific men of the expedition of the
feasibility of laying a successful line across the ocean.
The public generally and the directors of the company were greatly
disappointed, and many of-the latter and nearly all of the former
declared that all such attempts must of necessity fail. Some persons
even went so far as to avow their belief that the statements as to the
successful transmission of signals over the wire were false; but the
proofs that the wire did work properly for awhile are too strong to
allow us to accord the slightest weight to this disbelief. But whether
signals had passed over the wire or not, there could be no doubt that
the cable had ceased to respond to the efforts of the electricians, and
was a total failure, and the discouragement of nearly every one
connected with it was most profound.
Mr. Field and one or two others were the only persons who retained the
slightest confidence in the enterprise, and it was clear to them that
any further effort to secure the aid of private capital would be useless
just then. An appeal was made to the British Government. It was urged
that the work was too great to be undertaken by private capital alone,
and that, since it was to be more of a public than a private nature, it
was but just that the Government should undertake it. The company asked
the Government to guarantee the interest on a certain amount of stock,
even if the second attempt should not prove a complete success. The
failure of the Red Sea cable, to which the British Government had given
an unconditional guarantee, had just occurred, and had caused a
considerable loss to the treasury, and the Government was not willing to
assume another such risk. Anxious, however, for the success of the
Atlantic telegraph, it increased its subsidy from fourteen thousand to
twenty thousand pounds, and agreed to guarantee eight per cent, on six
hundred thousand pounds of new capital for twenty-five years, upon the
single condition that the cable should be made to work successfully.
This was not all, however. The Government caused further soundings to be
made off the coast of Ireland, which effectually dispelled all the fears
which had been entertained of a submarine mountain which would prove an
impassable barrier in the path of an ocean telegraph. In addition to
this, it caused the organization of a board of distinguished scientific
men for the purpose of determining all the difficult problems of
submarine telegraphy. This board met in 1859, and sat two years. The
result of its experiments and investigations was a declaration, signed
by the members, that a cable properly made, "and paid into the ocean
with the most improved machinery, possesses every prospect of not only
being successfully laid in the first instance, but may reasonably be
relied upon to continue many years in an efficient-state for the
transmission of signals."
Meanwhile, Mr. Field labored energetically to revive the company. The
war which had broken out in the United States brought home to our
Government the urgent need of telegraphic communication with Europe, and
Mr. Field had no difficulty in obtaining from the President an assurance
that this Government would be most happy to join with Great Britain in
promoting this great international work. He addressed meetings of
merchants in various American cities, and displayed the greatest energy
in his efforts to enlist the aid of American capital. Very little was
accomplished, however, until 1863. By this time the success of the lines
in the Mediterranean and in the Persian Gulf had demonstrated the
practicability of long submarine telegraphs, and the public confidence
in the attempt had been revived to such an extent that the directors
ventured to call for proposals for the manufacture of a cable. Seventeen
offers were made, from which that of Messrs. Glass, Elliott & Co., of
London, was selected. Mr. Field now renewed his indomitable efforts, and
in a few months the new capital of six hundred thousand pounds was
subscribed, Messrs. Glass, Elliott &, Co. taking three hundred and
fifteen thousand pounds, besides one hundred thousand pounds in bonds.
This was accomplished in 1864, and work on the cable was immediately
begun. The cable now adopted was very different from, and much more
sensitive than, those which had been used before. It was heavier, and
less liable to be injured by the water.
The "Great Eastern" steamship, the greatest wonder of naval
architecture, was at this time advertised for sale, and it occurred to
several of the gentlemen interested in the telegraph company that she
was the best vessel for laying the cable that could be found. They at
once organized themselves into a company, purchased the ship, and fitted
her up for that service. They were fortunate in securing the services of
Captain James Anderson, and placing him in charge of her, sent her to
Sheerness, where the cable was sent down to her in lighters from the
factory at Greenwich. When the cable was on board, and all the other
arrangements had been completed, the big ship left the Thames and sailed
for Valentia harbor.
The point of landing had been changed from Valentia harbor, five or six
miles, to Foilhommerum Bay. On the 23d of July, 1865, the shore end was
connected with the cable on board the ship, and the voyage was begun. It
would be interesting to follow the huge steamer on this remarkable
voyage, and to relate to the reader the almost marvelous manner in which
faults were detected in the line hundreds of miles from the shore, and
how the cable was successfully hauled in and the damage repaired. All
went well until twelve hundred miles of cable had been paid out, and the
ship was but six hundred miles from the shores of Newfoundland, when the
cable broke again and plunged into the sea.
Mr. Canning, the engineer in charge, was dismayed, but not disheartened.
For nine days the ship hung around the spot grappling for the cable, in
the hope of raising it, and sinking its grapnels for this purpose to a
depth of two miles. The cable was caught several times, but the rope
which held the grapnel broke each time, and the precious coil fell back
again into the deep. At length, having marked the place where the cable
was lost with buoys, the ship put back for England, and the enterprise
was abandoned for that year.
Though unsuccessful in carrying the cable across the ocean, this
expedition was by no means a failure. Its results are thus summed up by
the officers in charge of it:
1. It was proved by the expedition of 1858 that a submarine
telegraph cable could be laid between Ireland and Newfoundland, and
messages transmitted through the same.
By the expedition of 1865 it has been fully demonstrated:
2. That the insulation of a cable improves very much after its
submersion in the cold deep water of the Atlantic, and that its
conducting power is considerably increased thereby.
3. That the steamship "Great Eastern," from her size and constant
steadiness, and from the control over her afforded by the joint use
of paddles and screw, renders it safe to lay an Atlantic cable in
any weather.
4. That in a depth of over two miles four attempts were made to
grapple the cable. In three of them the cable was caught by the
grapnel, and in the other the grapnel was fouled by the chain
attached to it.
5. That the paying-out machinery used on board the Great Eastern
worked perfectly, and can be confidently relied on for laying
cables across the Atlantic.
6. That with the improved telegraphic instruments for long
submarine lines, a speed of more than eight words per minute can be
obtained through such a cable as the present Atlantic one between
Ireland and Newfoundland, as the amount of slack actually paid out
did not exceed fourteen per cent., which would have made the total
cable laid between Valentia and Heart's Content nineteen hundred
miles.
7. That the present Atlantic cable, though capable of bearing a
strain of seven tons, did not experience more than fourteen
hundred-weight in being paid out into the deepest water of the
Atlantic between Ireland and Newfoundland.
8. That there is no difficulty in mooring buoys in the deep water
of the Atlantic between Ireland and Newfoundland, and that two
buoys even when moored by a piece of the Atlantic cable itself,
which had been previously lifted from the bottom, have ridden out a
gale.
9. That more than four nautical miles of the Atlantic cable have
been recovered from a depth of over two miles, and that the
insulation of the gutta-percha covered wire was in no way whatever
impaired by the depth of water or the strains to which it had been
subjected by lifting and passing through the hauling-in apparatus.
10. That the cable of 1865, owing to the improvements introduced
into the manufacture of the gutta-percha core, was more than one
hundred times better insulated than cables made in 1858, then
considered perfect and still working.
11. That the electrical testing can be conducted with such unerring
accuracy as to enable the electricians to discover the existence of
a fault immediately after its production or development, and very
quickly to ascertain its position in the cable.
12. That with a steam-engine attached to the paying-out machinery,
should a fault be discovered on board whilst laying the cable, it
is possible that it might be recovered before it had reached the
bottom of the Atlantic, and repaired at once.
It was now placed beyond the possibility of a doubt that the cable would
be laid within the next year. More than this, it was determined not only
to lay a new cable between the two continents, but to fish up the cable
of 1865, splice it and continue it to Newfoundland, thus giving the
company two working lines.
It was necessary, however, to raise more capital, and in this effort Mr.
Field again put forth his restless and indomitable energies. As the
public confidence in the scheme had been effectually restored, it was
resolved to raise six hundred thousand pounds of new capital by the
issue of one hundred and twenty thousand shares of five pounds each,
which should be preferential shares, entitled to a dividend of twelve
per cent, before the eight per cent, dividend to be paid on the former
preference shares, and the four per cent, on the ordinary stock. They at
once proceeded to issue these bonds, when they were informed by the
Attorney-General that the proceeding was contrary to law.
In this dilemma work on the new cable was at once stopped, and the money
which had been paid in returned to the subscribers. As Parliament was
not in session, and a new issue of stock could not be made by the
company without its authorization, and as to wait for this would be to
postpone the laying of the cable for another year, Mr. Field was now
advised by Mr. Daniel Gooch, M.P., that the only way out of the
difficulty was to organize a new company at once, which should assume
the work, issue its own shares, and raise its own capital. Eminent legal
gentlemen sustained Mr. Gooch in this opinion, and Mr. Field again set
to work to organize a new company, under the name of the "Anglo-American
Telegraph Company." The capital was fixed at six hundred thousand
pounds, Mr. Field taking ten thousand pounds. The whole amount was
raised in a short time, and the company "contracted with the Atlantic
Cable Company to manufacture and lay down a cable in the summer of 1866,
for doing which it is to be entitled to what virtually amounts to a
preference dividend of twenty-five per cent., as a first claim is
secured to them by the Atlantic Telegraph Company upon the revenue of
the cable or cables (after the working expenses have been provided for)
to the extent of one hundred and twenty-five thousand pounds per annum,
and the New York, Newfoundland, and London Telegraph Company undertake
to contribute from their revenue a further annual sum of twenty-five
thousand pounds, on condition that a cable shall be working during
1866."
Once more the furnaces glowed and the hammers rang in the manufacture of
the cable. Great improvements were made in the cable itself and in the
machinery for laying it, and the "Great Eastern" was thoroughly
overhauled. The cable was completed and put on board in June, and the
big ship left the Medway on the last of the month and proceeded to
Berehaven, in Ireland, where she took on her final stores of coal. This
done, she proceeded to Valentia, where she arrived on the seventh of
July.
The shore end was successfully laid and made fast to the cable on board
the "Great Eastern," and on Friday morning, the 13th of July, 1866, the
huge ship set sail for Newfoundland, accompanied by her consorts of the
telegraph fleet. The voyage occupied fourteen days, the ship making an
average run of about one hundred and eighteen miles per day, and paying
out about one hundred and thirty-one miles of cable in the same period
of time. The weather was fair during the whole voyage, but the anxiety
of the officers in charge was none the less on that account. There were
accidents to be dreaded more than unfavorable weather. The ship was run
at moderate speed all the way, as it was thought she had once or twice
run too fast on the last voyage, and exposed the cable to danger. "The
total slack of the cable was less than twelve per cent., showing that
the cable was laid almost in a straight line, allowing for the swells
and hollows in the bottom of the sea.
"As the next week drew toward its close, it was evident that they were
approaching the end of their voyage. By Thursday they had passed the
great depths of the Atlantic, and were off soundings. Besides, their
daily observations, there were many signs well known to mariners that
they were near the coast. There were the sea-birds, and even the smell
of the land, such as once greeted the sharp senses of Columbus, and made
him sure that he was floating to some undiscovered shore. Captain
Anderson had timed his departure so that he should approach the American
coast at the full moon; and so, for the last two or three nights, as
they drew near the Western shore, the round orb rose behind them,
casting its soft light over sea and sky; and these happy men seemed like
heavenly voyagers, floating gently on to a haven of rest.
"In England the progress of the expedition was known from day to day,
but on this side of the ocean all was uncertainty. Some had gone to
Heart's Content, hoping to witness the arrival of the fleet, but not so
many as the last year, for the memory of their disappointment was too
fresh, and they feared the same result again. But still a faithful few
were there, who kept their daily watch. Two weeks have passed. It is
Friday morning, the 27th of July. They are up early, and looking
eastward to see the day break, when a ship is seen in the offing. She is
far down on the horizon. Spy-glasses are turned toward her. She comes
nearer; and look, there is another, and another! And now the hull of the
'Great Eastern' looms up all glorious in that morning sky. They are
coming! Instantly all is wild excitement on shore. Boats put off to row
toward the fleet. The 'Albany' is the first to round the point and enter
the bay. The 'Terrible' is close behind; the 'Medway' stops an hour or
two to join on the heavy shore end, while the 'Great Eastern,' gliding
calmly in as if she had done nothing remarkable, drops her anchor in
front of the telegraph house, having trailed behind her a chain of two
thousand miles, to bind the old world to the new.
"Although the expedition reached Newfoundland on Friday, the 27th, yet,
as the cable across the Gulf of St. Lawrence was broken, the news was
not received in New York till the 29th. It was early Sunday morning,
before the Sabbath bells had rung their call to prayer, that the tidings
came. The first announcement was brief: 'Heart's Content, July 27th. We
arrived here at nine o'clock this morning. All well. Thank God, the
cable is laid, and is in perfect working order. Cyrus W. Field.'"
There was no failure in the communication this time. The electric
current has continued to flow strongly and uninterruptedly from that day
until the present, and experience has demonstrated for the wonderful
wire a capacity far beyond the hopes of its projectors.
Having laid the cable, the "Great Eastern" proceeded with surprising
accuracy to where the line had been lost the year before, and succeeded
in grappling and raising it to the surface. It was tested, and found to
be in perfect order, messages being sent with ease from the ship to
Valentia, and from that point back again. A splice was then made, and
the line was continued to Newfoundland. Both cables are still working,
and bid fair to be serviceable for many years to come.
Many persons had contributed to this great success, but to Cyrus W.
Field must be assigned the chief praise. His energy and perseverance
kept the subject constantly before the public. His courage inspired
others, and his faith in its ultimate success alone kept its best
friends from abandoning it in its darkest hours. In its behalf he spent
twelve years of constant toil, and made over fifty voyages, more than
thirty of which were across the Atlantic. He devoted his entire fortune
to the undertaking, of which he was the projector and cheerfully
incurred the risk of poverty rather than abandon it. Therefore, it is
but just that he, who was the chief instrument in obtaining for the
world this great benefit, should receive the chief measure of the praise
which it has brought to all connected with it.
[Illustration: ROBERT FULTON.]
III.
INVENTORS
CHAPTER XIII.
ROBERT FULTON.
One of the pleasantest as well as one of the most prominent places in
the city of New York is the grave-yard of old Trinity Church. A handsome
iron railing separates it from Broadway, and the thick rows of
grave-stones, all crumbling and stained with age, present a strange
contrast to the bustle, vitality, and splendor with which they are
surrounded. They stare solemnly down into Wall Street, and offer a
bitter commentary upon the struggles and anxiety of the money kings of
the great city. Work, toil, plan, combine as you may, they seem to say,
and yet it must all come to this.
Not far from the south door of the church, and shaded by a venerable
tree, is a plain brown stone slab, bearing this inscription: "The vault
of Walter and Robert C. Livingston, sons of Robert Livingston, of the
manor of Livingston." A stranger would pass it by without a second
glance; yet it is one of the Meccas of the world of science, for the
mortal part of Robert Fulton sleeps in the vault below, without monument
or legendary stone to his memory, but in sight of the mighty steam
fleets which his genius called forth. Very few visitors ever see this
part of the churchyard, and the grave of Fulton is unknown to nine out
of ten of his countrymen. Yet this man, sleeping so obscurely in his
grave without a name, did far more for the world than either Napoleon or
Wellington. He revolutionized commerce and manufactures, changed the
entire system of navigation, triumphed over the winds and the waves, and
compelled the adoption of a new system of modern warfare. Now he lies in
a grave not his own, with no monument or statue erected to his memory in
all this broad land.
ROBERT FULTON was born in the township of Little Britain (now called
Fulton), in Lancaster County, Pennsylvania, in 1765. He was of Irish
descent, and his father was a farmer in moderate circumstances. He was
the eldest son and third child of a family of five children. The farm
upon which he was born was conveyed by his father in 1766 to Joseph
Swift, in whose family it still remains. It contains three hundred and
sixty-four acres, and is one of the handsomest farms in Lancaster
County.
After disposing of his farm, Mr. Fulton, senior, removed to the town of
Lancaster, where he died in 1768, and there young Robert grew up under
the care of his mother. He learned to read and write quickly, but did
not manifest much fondness for his books after mastering his elementary
studies. He early exhibited an unusual talent for drawing, however,
greatly preferring the employment of his pencil to the more serious
duties of the school. His instructors and companions considered him a
dull boy, though all admitted that he showed no disposition to be idle.
All his leisure time was spent either in drawing, or in visiting the
shops of the mechanics in the place and eagerly watching their
operations. He displayed a remarkable talent for mechanism, which was
greatly assisted by his skill in drawing, and his visits to the machine
shops were always welcomed by both the apprentices and their employers,
who recognized the unusual genius of the boy, and predicted great things
for him in the future. But to his teacher, who seems to have been rather
more belligerent than is usual with Quakers, Robert's neglect of his
studies and visits to the machine shops were so many indications of
growing worthlessness. The indignant pedagogue once took occasion to
remonstrate with him upon his course, and, failing to convince him by
argument, rapped him sharply over the knuckles with a ruler, telling him
he would make him do something. Robert at once placed his arms akimbo,
and, looking his tutor sternly in the face, replied: "Sir, I came here
to have something beat into my brains, not into my knuckles."
Some time after this Mrs. Fulton, in conversation with the teacher,
expressed her solicitude lest her son should "turn out nothing," since
he neglected his books so entirely. The teacher frankly confessed that
he had done all in his power for the boy, but that he was discouraged,
and added: "Only yesterday, madam, Robert pertinaciously declared to me
that his head was so full of original notions that there was no vacant
chamber to store away the contents of any dusty books." The lad was only
ten years of age at the time, and, as may be supposed, the good Quaker
who directed his education was not a little dismayed by such a remark.
The boyhood of Fulton was passed during the stormy period of the
Revolution, and in a section so close to the theater of war that he was
in the midst of all the excitement engendered by the conflict. He was an
ardent patriot from the first, and used his pencil freely to caricature
all who showed the slightest leaning to the cause of the enemy.
In 1778 the supply of candles was so low in Lancaster that the town
authorities advised the people to refrain from illuminating their houses
on the 4th of July of that year, in order to save their candles. Robert,
at this time but thirteen years old, was determined not to forego a
patriotic display of some sort. He had prepared a quantity of candles
for the occasion, and after the proclamation of the Town Council was
issued, he took them to a Mr. John Fisher, who kept a store in the
place, and sold powder and shot. Mr. Fisher was somewhat astonished at
Robert's desire to part with the candles, which were at that time scarce
articles, and asked his reason for so doing. The boy replied: "Our
rulers have requested the citizens to refrain from illuminating their
windows and streets; as good citizens we should comply with their
request, and I prefer illuminating the heavens with sky-rockets." Having
procured the powder, he left Mr. Fisher's, and entered a small variety
store kept by a Mr. Cossart, where he purchased several sheets of
large-sized pasteboard. As Mr. Cossart was about to roll them, the boy
stopped him, saying he wished to carry them open. Mr. Cossart, knowing
Robert's mechanical genius, asked him what he was about to invent.
"Why," said the boy, "we are prohibited from illuminating our windows
with candles, and I'm going to shoot my candles through the air."
"Tut, tut, tut," said Mr. Cossart, laughingly; "that's an
impossibility."
"No, sir," said Robert, "there is nothing impossible."[A]
[Footnote A: He proved that this was not impossible, for he had his
display, making his rockets himself, and after his own model.]
"Robert was known," says one of his biographers, "to purchase small
quantities of quicksilver from Dr. Adam Simon Kuhn, druggist, residing
opposite the market-house. He was trying some experiments that he did
not wish to make public, and which the workmen in Mr. Fenno's and Mr.
Christian Isch's shops were anxious to find out, but could not. He was
in the habit almost daily of visiting those shops, and was a favorite
among the workmen, who took advantage of his talent for drawing by
getting him to make ornamental designs for guns, and sketches of the
size and shape of guns, and then giving the calculations of the force,
size of the bore and balls, and the distances they would fire; and he
would accompany them to the open commons near by potter's field, to
prove his calculations by shooting at a mark. On account of his
expertness in his calculations, and of their ineffectual efforts to
discover the use he was making of quicksilver, the shop-hands nicknamed
him 'quicksilver Bob.'
"Mr. Messersmith and Mr. Christian Isch were employed by the Government
to make and repair the arms for the troops; and on several occasions
guards were stationed at their shops to watch and see that the workmen
were constantly employed during whole nights and on Sunday, to prevent
any delay. The workmen had so much reliance and confidence in
'quicksilver Bob's' judgment and mechanical skill, that every suggestion
he would make as to the alteration of a gun, or any additional ornament
that he would design, was invariably adopted by common consent.
"In the summer of 1779, Robert Fulton evinced an extraordinary fondness
for inventions. He was a frequent visitor at Mr. Messersmith's and Mr.
Fenno's gunsmith shops, almost daily, and endeavored to manufacture a
small air-gun."
Among the acquaintances of Robert Fulton at this time was a young man,
about eighteen years of age, named Christopher Gumpf, who used
frequently to accompany his father in his fishing excursions on the
Conestoga. Mr. Gumpf, Sen., being an experienced angler, readily
consented to allow Robert to join himself and his son in these
expeditions, and made the two boys earn their pleasure by pushing the
boat about the stream, as he desired to move from point to point. As the
means of propulsion was simply a pole, the labor was very severe, and
Robert soon became tired of it. Not wishing, however, to give up his
pleasant fishing trips, he determined to devise some means of lightening
the labor.
"He absented himself a week, having gone to Little Britain township to
spend a few days at his aunt's; and while there he planned and completed
a small working model of a fishing boat, with paddle-wheels. On leaving
his aunt's, he placed the model in the garret, with a request that it
should not be destroyed. Many years afterward, that simple model was the
attraction of friends, and became, instead of lumber in the garret, an
ornament in the aunt's parlor, who prized it highly. That model was the
result of Robert's fishing excursions with Christopher Gumpf; and when
he returned from his aunt's he told Christopher that he must make a set
of paddles to work at the sides of the boat, to be operated by a double
crank, and then they could propel the old gentleman's fishing-boat with
greater ease. Two arms or pieces of timber were then fastened together
at right angles, with a paddle at each end, and the crank was attached
to the boat across it near the stern, with a paddle operating on a pivot
as a rudder; and Fulton's first invention was tried on the Conestoga
River, opposite Rockford, in the presence of Peter and Christopher
Gumpf. The boys were so pleased with the experiment, that they hid the
paddles in the bushes on the shore, lest others might use and break
them, and attached them to the boat whenever they chose; and thus did
they enjoy very many fishing excursions."
This was the first experiment in the science of navigation attempted by
the man who afterward became the author of a new system.
Having chosen the profession of an artist and portrait painter, young
Fulton removed to Philadelphia at the age of seventeen, and remained
there, pursuing his vocation, until the completion of his twenty-first
year. He formed there the acquaintance of Benjamin Franklin, by whom he
was much noticed. His success was rapid, and upon attaining his majority
he was enabled to purchase and stock a farm of eighty-four acres in
Washington County, Pennsylvania, which he gave to his mother for a home
as long as she should live. Having thus insured her comfort, he went to
England for the purpose of completing his studies in his profession. He
took with him letters to Benjamin West, then at the height of his fame,
and living in London. He was cordially received by Mr. West, who was
also a native of Pennsylvania, and remained an inmate of his family for
several years. West was then the President of the Royal Academy of Great
Britain, and was thus enabled to extend to Fulton, to whom he became
deeply attached, many advantages, both social and professional, of which
the young artist was prompt to avail himself.
Upon leaving the family of Mr. West, Fulton commenced a tour for the
purpose of examining the treasures of art contained in the residences of
the English nobility, and remained for two years in Devonshire. There he
became acquainted with the Duke of Bridgewater, to whom England is
indebted for the introduction of the canal system within her limits; and
it is said that he was induced by this nobleman to abandon the
profession of an artist, and enter upon that of a civil engineer. This
nobleman being devoted to mechanical investigations, proved a very
congenial acquaintance to Fulton. He was engaged at the time on a scheme
of steam navigation by a propeller, modeled after the foot of a water
fowl. His plan did not commend itself to Fulton's judgment, and he
addressed him a letter, setting forth its defects, and advancing some of
the views upon which he acted himself in after life. Here he also met
with Watt, who had just produced the steam-engine, which Fulton studied
enthusiastically. His own inventive genius was not idle, and while
living in Devonshire, he produced an improved mill for sawing marble,
which won him the thanks and medal of the British Society for the
Promotion of the Arts and Commerce; a machine for spinning flax and
making ropes; and an excavator for scooping out the channels of canals
and aqueducts, all of which were patented. He published a number of
communications on the subject of canals in one of the leading London
journals, and a treatise upon the same subject. Having obtained a patent
in England for canal improvements, he went to France in 1797, with the
design of introducing them in that country.
Upon reaching Paris, he took up his residence with Mr. Joel Barlow, and
thus was laid the foundation of a friendship between these two gentlemen
which lasted during their lives. He remained in Paris seven years,
residing during that time with Mr. Barlow, and devoting himself to the
study of modern languages, and engineering and its kindred sciences.
His work was continuous and severe in Paris. He invented and painted the
first panorama ever exhibited in that city, which he sold for the
purpose of raising money for his experiments in steam navigation; he
also designed a series of splendid colored illustrations for _The
Columbiad_, the famous poem of his friend Mr. Barlow. Besides these, he
invented a number of improvements in canals, aqueducts, inclined planes,
boats, and guns, which yielded him considerable credit, but very little
profit.
In 1801, he invented a submarine boat which he called the "Nautilus,"
which is thus described by M. de St. Aubin, a member of the Tribunate:
"The diving-boat, in the construction of which he is now employed, will
be capacious enough to contain eight men and provision for twenty days,
and will be of sufficient strength and power to enable him to plunge one
hundred feet under water, if necessary. He has contrived a reservoir of
air, which will enable eight men to remain under water eight hours. When
the boat is above water, it has two sails, and looks just like a common
boat; when it is to dive, the mast and sails are struck.
"In making his experiments, Mr. Fulton not only remained a whole hour
under water, with three of his companions, but had the boat parallel to
the horizon at any given distance. He proved that the compass points as
correctly under water as on the surface, and that while under water the
boat made way at the rate of half a league an hour, by means contrived
for that purpose.
"It is not twenty years since all Europe was astonished at the first
ascension of men in balloons: perhaps in a few years they will not be
less surprised to see a flotilla of diving-boats, which, on a given
signal, shall, to avoid the pursuit of an enemy, plunge under water, and
rise again several leagues from the place where they descended!
"But if we have not succeeded in steering the balloon, and even were it
impossible to attain that object, the case is different with the
diving-boat, which can be conducted under water in the same manner as
upon the surface. It has the advantage of sailing like the common boat,
and also of diving when it is pursued. With these qualities, it is fit
for carrying secret orders, to succor a blockaded fort, and to examine
the force and position of an enemy in their harbors."
In connection with this boat, Fulton invented a torpedo, or infernal
machine, for the purpose of destroying vessels of war by approaching
them under water and breaking up their hulls by the explosion. He
offered his invention several ti |
