i ~~~~~~ i~~~ ------------— i= — ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ --- --- gm-~II~ OONSTERNATIONi~in~~ AT THE S IGHaallle iT OF 11111~ FULTON'S MO II~llleT lllllft~-~.~\ CON STE RNA TIO N AT T HE SIGHT OF F ULT 0N'S MON STE R. GREAT FORTUNES, AND HOW THEY WERE MADE; OR THE $f ~~and Iiviumpt1 of Dail $et J~adn JmR. BY JAMES D. McCABE, JR., AUTHOR OF, ";PLANTING THE WILDERNESS," ETC., ETCO FROM[ ORIGINAL DESIGNS BY G. F. & E. 13B. BENSELL. "MAN, it Is not thy works, which are mortal, infinitely little, and the greatest no greater than the least, but only the spirit t;hom workest in, that can have worth or continuance."-CARLYLE. CINCINNATI AND CHICAGO: E. HANNAFORD & COMPANY. SAN FRANCISCO: P. DEWING a CO. 1872, Entered, according to Aft of Congress, in the year I87o, by E. HANNAFORD & CO., In the Office of the Librarian of Congress, at Washington, D. C. ELECTROTYPED AT TlE FRANKLIN TYPE FOtNDRY, CINCINNATI. "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 manages of the business himself. Although it seems to the man, anc generally to the community, that the active business man is self-seeker, and although his motive may be self-aggrandize. ment, 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 xwel organized business is a beneficence and not a selfishness. Anc not less is it so because the merchant, the mechanic thE publisher, the artist, think merely of their profit. They are ir fact working more for others than they are for themselves. HENRY WARD BEECHER. P RE FA C E. THE chief glory bf 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 6 PREFACE. 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. PREFACE, 7 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 YORs, 24th October, 1870. LIST OF ILLUSTRATIONS. PAGE CONSTER1NATION AT SIGHT OF FULTON'S 1MONSTER.. FroitSpiscCe. GIRARD COLLEGE..................3...................... 32 GIRARD'S HE-EROISM......................................... I5 ASTOR'S FIRST TRIP FOR FURS................................ 69 "M Y MEN SHALL N-OT SUFFER "............................... 150 PORTRAIT OF GEORGE PEABODY................................ 168 PEABODY PAYING FOR A NIGHT'S LODGING. 170 PORTRAIT OF CORNELIUS VANDERBILT....................... 1 33 VANDERBILT EARNING HIS FIRST HUNDRED DOLLARS.......... 186 VANDERBILT CARRYING OFF THE SHERIFF...................... 192 FOUNDING A GREAT FORTUNE................................ 201 PORTRAIT OF BIODERT FULTON................................. 249 AN AM)AZING REVELATION......................... 291 "TImE nMADHOUSE IS THE PROPER PLACE FOR IIM"........... 300 WHITNEY WATCIIING THE FIRST COTTON-GIN.................. 504 PORTRAIT OF ELIAS HOWE, JR................................. o323 HOWE's FIrST IDEA OF THE SEWING-nMiACINE................ 326 THE BO3Y COLT INVENTING THE REVOLVER...344............... 4 PORTRAIT OF SAMUEL F. 3. oRS............................. B354 EIow THE NEW Yorx HERALD BEGAN...................3...... 96 MARSHALL'S DEFENCE OF CIRISTIANITY........................ 433 PORTRAIT OF JAMIES T. BRADY................................ 435 "TTHEY ARE GOING TO H-IANG MY BROTHEI:; lYOU CAN SAVE IIIiM!" 444 THE TRUANT'S SECRET DISCOVERED........................... 451 PORTRAIT OF HIRA~M POWERS.................................. 471 POWERS' DISTRUST OF TE HIUNTERS.......................... 474 FILIAL DEVOTION SHAPES A GREAT CAREER.................... 488 CARTWRIGHT CALLING UP THE DEVIL............................ 555 PORTRAIT OF NATHANIEL HAWTHORNE......................... 578 JEFFERSON, AS RIP VAN WVINKLE.............................. 601 PRESCRIBING AT THE BREAKFAST-TABLE....................... 618 "PRESIDENT LINCOLN HAS BEEN MIURDERED!................. 633 8 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 3Iary Lum-Unfortunate issue of the marriage-Capture of Philadelphia by the British-Early commercial life of Stephen GirardHow 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 warHis generosity toward the Government-The suspension of specie payments-Financial troubles-How Girard saved his own notesHis public spirit-How he made half a million of dollars on a captured ship-Personal characteristics-Why he valued moneyHis ambition-His infidelity-Causes of the defects of'his char9 10 CONTENTS. acter-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 bequestsEstablishment of Girard College.......................... 33-53 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 emigrationLearns 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 furtrader's story-Astor sees the way to fortune —Reaches New York-Ills first situation-Learning the business-His method of proceding-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 successClose 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 thousandHis 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 CONTENTS. 1. 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 EuropeThe 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."............... 59-93 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 AmericaTeaches school in New York-Becomes a dry goods merchantReceives a legacy-His first importation-How he began business-An energetic trader-His sample lots and their historySuccess of his enterprise-He begins by encouraging honesty in trade-WTins 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 personsStory of tlie old apple woman-Remarks at the opening of the St. Nicholas Hotel-Reasons of Stewart's success-A hard workerHow 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 —ome for women-Political sentiments-Mr. Stewart's appointment as Secretary of the TreasuryFeeling 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 stablesExtravagant 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. 94-114 12 CONTENTS CHAPTER IV. AMOS LAWRENCE. The Lawrence family-A poor boy-Early education-Delicate health-' Obtains a situation at Dunstable —Returns to GrotonBecomes 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 — HIis sagacity justified —Begins business for himself-Commercial importance of Boston-Aid from his father-A narrow escapeA lesson for life-Amos Lawrence's method of doing businessAn 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...................... 115-129 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 venturesEngages in the building of houses —His platform of integrityHis 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 CONTENTS. 13 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...................................................... 130-137 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 pianoSucceeds 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 instrumentsDeath 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 paidRapid 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............... 138-151 CHAPTER VII. NICHOLAS LONGWORTH. The grape interest of the United States-Growing demand for American wines-Instrumentality of Mr. Longworth in producing tais success-Early life of Mr. Longworth-Apprenticed to a 14 CON'TENTS. 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-Ilis 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 poorIs charged with stinginess-The "devil's poor "-Personal appearance-The "Hard-times" overcoat —Charity to a millionaire — Death of Mr. Longworth................... 152CHAPTER VIII. GEORGE PEABODY. Birth and parentage-Early education-His first lessons in business-An apprentice in a country store —Youthful ambitionA 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-H-ow he saved the United States from humiliation-Admission of the "London Times" CONTENTS. 15 Mr. Peabody's business habits —His economy-Adventure with a conductor-Finds a conscientious hackman-Personal simplicityVisits to the United States-His munificent donations-His last visit-Returns to London and dies-Honors paid to his memoryThe funeral ceremonies-His burial at Peabody-Statement of his donations and bequests — is example encouraging to the young......................................................................... 168-181 II. CAPITALISTS. CHAPTE R 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 boatmanHow 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 contractHow he supplied the harbor defenses-Builds his first schoonerHis 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 Yessels-How he ruined the "Collins Line " —The " North Star "Becomes a railroad director-How he foiled a plan to ruin himA 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.183-199 1f' CONTENT. 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 businessBrings 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 RailwayDrew'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 RoadIs 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...........................................200-208 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. LouisSells 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 businessBreaking 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 CONTENTS. 17 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........................................................................... 209-220 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 betcmes a partner-A rich man at thirty-four-Retires from business-Travels in South America-Meets Mr. GisbornePlan 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 tile New York, Newfoundland, and London Telegraph CompanyBuilding 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 cableFailure 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 capitalPurchase 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 lastFishing up and splicing the cable of 1865-The final triumphCredit due to Mr. Field...................................... 221-248 2 a 18i CONTENTS. 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. BarlowStudies 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 HudsonFrilton 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 firstwvoyage'up the Hudson-Fulton's triumph-Scenes along the river-Efforts to sink the steamer-Establishment of steam navigation on the IHudson' River-The first New York ferry-boatsThe floating docks-Boats for the West-New York threatened by the British ~1eet in 1814-Fulton's plan for a steam frigateThe "Fulton qthe First"-The steamboat war-Illness of Fulton-His death and burial-His last will-True character of his invention................................................................... 249-275 CHAPTER XIV. C-HARLES 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. CONTENTS.! 9 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 friendsHis courage and perseverance-Goes to New York-Accidental discovery of the aqua fortis process-Partial success-RuinedLife on Staten Island-Removes to Boston-Delusive prosperityThe 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 handThe timely loan-Removal to New York-Difficulties in the wayDeath 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........................................................................ 276-300 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 invitationVisit of the planters-State of the cotton culture in 1792-A despondent planter-Mrs. Greene advises them to try WhitneyOrigin of the cotton gin —Whitney's first efforts-His workshopThe secret labors —How he provided himself with materialsFinds a partner-Betrayal of his secret-He is robbed of his model-He recovers it and completes it-The first cotton ginStatement 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.................................................................. 301-311 20 CONTENTS. 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 dialmaker-The clock-making expedition-Jerome's first savingsTakes a wife-A master carpenter-Poor pay and hard workBuys 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 SouthEnlarges his business-Improvements in his clocks-Losses on southern shipments from dampness - Depression of businessJerome's anxiety-A wakeful night —Invention of the brassA new era in the clock trade-Beneficial effects of Jerome's invention —agnitude of the Connecticut clock trade at presentGrowth 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 manHonest independence-Finds employment-Becomes the manager of the Chicago Company...................................312-322 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 millboy-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 struggleFinds'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 mer CONTENTS. 21 chant-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 himEnlists in the United States Army-A liberal private-Last illness and death............................................................... 323-333 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 houseThe 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 housePersonal characteristics of Richard M. Hoe-The "Lightning Press" at work......................................... *334-342 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 EnglandDiscovery at the Tower of London-Returns home-Formation 22 CONTENTS. 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 MexicoThe demand from the frontier —Emigration to California and Australia-Permanent establishment of Col. Colt's businessThe 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............................................................. 343-353 CHAPTER XX. SAMUEL F. B. MORSE. Birth-Parentage-Early education-Graduates at Yale CollegeBecomes an artist-His masters-Visits England —His first attempt-" The Dying Hercules "-Opinion of Benjamin WestWins 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 failureSeeks 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 abroadA list of his rewards —Morse originates submarine telegraphy, and predicts the laying of an Atlantic telegraph-Personal characteristics............................................................................. 354-366 CONTENTS. 23 IV. PUBLI S HER S. 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 strangerArrival 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 stereotypingThe 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-establishmeut 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 367-379 CHAPTER XXII. JAMES T. FI-ELDS. 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 eighteenHis 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-RemovalOrganization 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....................................................... 380 87 24 CONTENTS. 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........... 389-406 CHAPTER XXIV. ROBERT BONNER. Birth and parentage-Emigration to America-Becomes a printerA 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.... 407-416 CONTENTS, 25 VI. LAWYERS. CHAPTER XXV. JOHN MARSHALL. The model American lawyer-Birth and early life of John Marshall —A devoted father-Early education-The young patriotTroubles with England-Marshall becomes a soldier-The "Cultepper 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 CongressHis 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 himHis 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 defenseLast illness and death of Judge Marshall........................... 417-434 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 caseA sudden rise in popularity-Practices in the Supreme Court 26. CONTENTS. The India-rubber suit-A compliment from Daniel WebsterBrady'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 laborsHis generosity to the poor-Devotion to his relatives-Last appearance in public-Forebodings-Death.......................... 435-447 VII. ARTI STS. 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 professionDedicated 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 homeSends 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 publicWest 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-electionClosing years of a great career-Personal appearance-Leigh Hunt's description of him-Death-Burial in St. Paul's Cathedral.............................................. 448460 CONTENTS. 27 ~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 SpainReturn 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 ChicagoHis first statuettes —Their success-A new field opened to himVisits New York, and learns the new method of casting figuresEstablishes 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 madeOriginality of the artist rewarded by the public-Personal characteristics................................................ 461-470 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................................. 471-487 28 CONTENTS. CHAPTER XXX. EMMANUEL LEUTZE. An American by adoption-Early life and education-fHow 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................................................... 488-497 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 boyA 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 BostonGets through the Latin school-The sea-going project-Dr. Beechcr's ruse —Life at Mount Pleasant-Conquers mathematics-Embraces religion at a revival-Resolves to become a minister CONTENTS. 29 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.... 499-525 CHAPTER XXXI I. PETER CARTWRIGHT. Birth-Removal to Kentucky-" Rogue's harbor " —Condition of the country and the people-Frontier life-Early life of a preacherBecomes 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 CircuitA 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 shrewRemoval to Illinoi —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 bullyAdvocates 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 EnglandCartwright declines it-He visits Boston-His reception-How he preached for Father Taylor-Summing up-Sixty-seven years of a preacher's life............................................ 526-562 30 CONTENTS. 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 worksThe "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......... 563-577 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 recluseLiterary 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-M-Ioncure D. Conway's recollections-Juvenile works -Death of Mr. Ticknor-Effect upon Hlawthorne-Goes traveling with Ex-President Pierce-Sudden death of Hawthorne —Burial at Concord...................................................... 578-589 CONTENTS. 31 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 fireLoss 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................. 591-600 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 reminiscenceFirst 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 AustraliaHis 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................... 601...611 32 CONTENTS. XI. PHYSICIAN S. CHAPTER XXXVII. BENJAMIN R USH. 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 CongressSigns 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 treatmentTestimony 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................................................... 613-G21 CHAPTER XXXVIII. VALENTINE MOTT. Birth —Early life-Enters Columbia College-His medical studiesContinues 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 expedientsA 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 operatingCareful preparation-Success as a physician-A progressive mindProfessional honors-Visits Europe-Reception abroad-Operates upon the Sultan of Turkey-A cool proposition-Personal-His last illness and death-" President Lincoln murdered"........ 622-633 =-~~ — ___ --— ___ -e _L___ ---------------------------— ~~~~J. 1 ~-~_~-~-~-~I~~====;~=_~~ —-—,w!.,.w!.-Jill UP lilt -- rill! ~ ~ ~ ~ ~ --- ~ - --- __~~~~~~~~~~~c~~~ —------— ~~~~~~....... ~~~~~~~~ -~~~~~~~~~~~~~ -...... GIRARD CO LL EG,-E, — M ERCHANTS. CHAPTER I. STEPHEN GIRARD. NE May morning, in the year 1776, the mouth of the Delaware Bay was shrouded in a dense i 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 inl total ignorance of his whereabouts. His vessel, he said,, as 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, Britisl 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, 8 33 34 GREAT FORTUNES. 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 t;he mere chances of war sent him a stranger. He was born at Bordeaux, in France, on the 21st of May, 17T0, 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 STEPHEN GIRARD. 35 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 36 GREAT FORTUNES. 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 wealthll, 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. STEPHEN GIRARD. 37 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. IHe 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 38 GREAT FORTUNES. was sold, and the proceeds-about fifty thousand dollarsturned 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 shle 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: STEPHEN GIRARD. 39 Copy of Stephen Girards Letter to Mr. —, Commander and Supercargo qf 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. 40 GREAT FORTUNES. 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 STEPHEN GIRARD, 41 the gales 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.f 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. 42 GREAT FORTUNES. 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. STEPHEN GIRARD. 43 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 may 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 44 GREAT FORTUNES. 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 employ's 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." STEPHEN GIRARD. 45 "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. 46 GREAT FORTUNES. "I'11 tell you what I'11 do," said Girard, who was thor~ oughly 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 STEPHEN GIRARD. 47 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 employ's, 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 t~ him for aid were unanswered. No poor man ever came fullhanded 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 48 GREAT FORTUNES. 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 all 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-inter STEPHEN GIRARD. 49 course 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 in, stitution 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 accord4 50 GREAT FORTUNES. ingly 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 ibills, and the rate of exchange suddenly fell. The same spirit wvhich 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, ap-,parently, 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 thou-.sand 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. STEPHEN GIRARD. 51 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, perphaps, 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 52 GREAT FORTUNES. 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 STEPHEN GIRARD. 53 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 leftl 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 dangerthe management of the interior of the hospital. His decisive 54 GREAT FORTUNES. 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.' "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 tobserver, who stood at a safe distance watching the proceedings, — 7-7~ IL~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~I --— ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~IS nil~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~j GIRARD'S HEROISM. STEPHEN GIRARD. 55 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."* For sixty days Mr. Girard continued to discharge his duties, never abse.ting himself from his post, being nobly sustained by Peter Hel1m. 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 fellowcitizens. 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 9' James Parton. 56 GREAT FORTUNES. 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 oie of my confreres have killed fewer than myself." 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 STEPHEN GIRARD. 57 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 endow 58 GREAT FORTUNES. ment 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. JOHN JACOB ASTOR. 59 C HAPTE R II. JOHN JACOB ASTOR. HOSE 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 17thl of July, 1763. This year was famous for the conclusion of the Treaties of Paris and Hubertsburg, which placed all the furyielding regions of America, from the Gulf of Mexico to the 60 GREAT FORTUNES, 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 remonstrancos 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 JOHN JACOB ASTOR. 61 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 newlymarried 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 fur 62 GREAT FORTUNES. ther 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." JOHN JACOB ASTOR. 63 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. 64 GREAT FORTUNES. 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 ally 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 JOHN JACOB ASTOR. 65 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 "N 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,, begin'ning in a 66 GREAT FORTUNES. 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 Eng-land; 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 tihe Admerican 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 Astor's brother, JOHN JACOB ASTOR. 67 Henry, who had succeeded in laying the foundation of a pros-,perous 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 68 GREAT FORTUNES. 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 mnost 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. 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 an i~i i —— :-=-= —— ----- _-~_ I-;= —-I~ —--— -i--i; __=;___-T- ------ - —-= —----; —- ---- —- -- -------------- — —C--Si- 1 — L_;-----=Ic ;;;`'_--;L==______Z_ I —- —--Fi:`- —-2 —;i-i= -~ —------------------— ~~ /I i' ------------.-w 89 i --;;'~;,*FFFFFFFFFFF'ws;,L!bRK'-'/?-Z,iYrL-, —— =-=- cr a. - - —-— . tP ASTOR'S FIRST TRIP FOR FURS. JOHN JACOB ASTOR. 69 nual 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 bargainr' 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 in, strument, 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 70 GREAT FORTUNES. 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 JOHN JACOB ASTOR. 71 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 Statesand the few American traders in the field had to rely on their individual resources, with no aid front a Government too feeble in itsi 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 vesssels, 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 72 GREAT FORTUNES. 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 JOHN JACOB ASTOR. 73 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, 74 GREAT FORTUNES. 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?" JOHN JACOB ASTOR. 75 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 today. He lived here, with one removal, for upwards of twentyfive 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 76 GREAT FORTUNES. 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 cap-. ital; 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. JOHN JACOB ASTOR. 77 "'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 monthssay 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 78 GREAT FORTUNES. 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 lMr. 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." JOHN JACOB ASTOR. 79 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 80 GREAT FORTUNES. 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 eightysix 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 MIr. 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 establish JOHN JACOB ASTOR. 81 ing 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 tlie course of events which, fifty years later, we are beginning to witness. When he laid his plans before the Governiment, 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 world6. 82 GREAT FORTUNES. wide 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 WVest, 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 Lthe hunting-grounds of the Indian and the trapper. N" NTo enterprise, unless it be the Atlantic telegraph, engages,more deeply the public attention than a railroad communica-:tion with the Pacific coast. * The rapid settlement of Oregon,