Chapter IV: Part 4

On October 25th, 1806, in a an humble farmer's home, was born a boy; that boy was George Law. For eighteen summers he lived contentedly on his father's farm, but a stray volume, containing a story of a certain farmer boy who left home to seek his fortune, and after years of struggle returned rich, caught his eye, and young Law determined to go and do likewise. His education was meager, but he had mastered Daboll's Arithmetic.

Having decided that he could not follow the occupation of his father, he set at work to raise the amount he deemed necessary to carry him to success. By exercising great frugality in his already simple mode of living, he managed to save forty dollars, and at the age of eighteen he set out on foot for Troy, New York, thirty-six miles distant. Putting up at the cheapest hotel he could find, he immediately went out in search of employment, which he soon found, beginning as a hod-carrier. He next obtained employment as a helper, laying brick and 'picking up points,' soon obtained employment as a mason at $1.75 per day.

But George Law did not mean to always be a day-laborer, he observed everything closely, and books were freely bought that would help him to a better understanding of his business. Seven long years of day-laboring, then he became a sub-contractor, then a contractor. His first efforts in this capacity was building bridges in various parts of Pennsylvania and although it has been said that he could not spell correctly any word in the English language, of three syllables, yet, so carefully were his plans laid that on every contract that he took he cleared money. He put in a bid for three sections of the Croton Aqueduct, and succeeded in obtaining the work on two of them. High Bridge was afterwards awarded to him, among a host of competitors, and was completed in ten years' time from its beginning. These two contracts alone had made him a millionaire, but his active mind could not rest.

He first turned his attention to bank stocks. Next he became interested in the horse railway system of New York city. He bought the Staten Island Ferry, ran it five years, and sold out. He was also much interested in steam ships. Nearly all these ventures proved profitable, and at his death his estate amounted to about $15,000,000. He was a giant in size, being over six feet tall, and his mind compared favorably with his stature. His whole energies were concentrated on money-getting and, of course, he succeeded. It has been said that he walked until he could ride, and lived humbly until his wealth would more than warrant his living on Fifth Avenue. He carried the hod until he found better work, and never left one position until he had found a better one, no matter what his real or supposed provocation might be. He lived to return home, as did the boy of whom he early read, and established his father comfortably on a farm which he had bought for him.

DARIUS O. MILLS.

In Westchester county, New York, was born one bright September day, in 1825, Darius O. Mills. True, it is, that his parents were somewhat well-to-do people, but Darius O. Mills would have become a wealthy man had he been born in poverty.

If a man determines to succeed and has a perceptive mind to see opportunities, if he relies on no one but himself, and follows this up by hard, persistent work, he will succeed. If he does not he is lacking in some other vital point, but we have never yet read the life of any man who possessed these qualities but that he was a success. What one has done another can do under the same conditions and circumstances. For some time he was casting about to find his calling, and finally determined to become a banker. In this sphere he has proven himself a phenomenon. His talent for money-making was early apparent, and he was appointed cashier of a bank in Buffalo when only twenty-one. Now it must not be imagined that Darius O. Mills was picked up indiscriminately and placed in so responsible a position. Things do not come by chance. It is evident the case under consideration did not happen through 'good luck.' He was a young man of unusual ability, of which he has always made the most. The bank flourished and at twenty-three he resigned and, taking what money he had, he was soon on his way to California. He did not go there to dig gold. Darius O. Mills knew that gold was the object of nearly every one who went; he also knew that the people must live; he perceived the chance to make a fortune as a merchant. Like any man who will succeed, he acted at once. In 1849 he settled in San Francisco, opening trade with the miners.

In the course of a few years he became immensely rich through very successful trade and, as he was about to retire from active business, the Bank of California was projected. This he materially aided into existence, and as he was recognized as one of the ablest financiers in the city, he was chosen its first President. So well did he manage its affairs that it soon became the leading banking institution in the country, wielding an immense power in the financial world. He remained at its head for nine years when his private fortune had assumed such mammoth proportions that it demanded his immediate attention, he therefore resigned in 1873.

In 1875 his successor, William G. Ralston, was asked to resign and the bank suspended. Mr. Ralston was a splendid man, but had been somewhat unwise in placing the bank's money, and thus the failure was brought about. At a meeting of the directors it was decided to ask for the resignation of the President. Mr. Mills was the person selected to convey the intelligence of the result of the meeting to Mr. Ralston and this he did. Mr. Mills, much against his personal desire, once more assumed the presidency of the bank, and after three years he once more resigned to attend to his private affairs; leaving the bank in a flourishing condition. Possibly no man in America is better capable of handling large sums of money, to bring not only large returns, but to handle the money safely.

In 1880 he turned his attention toward the East, moving his family to Fifth Avenue, New York city. His large business block, the Mills Building, ten stories high, fitted up for offices containing three hundred in all, is a magnificent structure. His wealth is very great, being estimated at from fifteen to twenty millions of dollars. He has established on the Pacific slope, at a cost of about two hundred thousand dollars, a seminary for young ladies.

He has also presented a beautiful piece of statuary to the State of California. It is a magnificent gift, representing Columbus at the court of Isabella. He has given numerous costly presents to institutions and relatives. Among the shrewd far-sighted men of the country few are more distinguished than is Darius Ogdon Mills.

STEPHEN GIRARD.

Stephen Girard was born in Bordeaux, France, May 24th, 1750. He lived in an age when avenues of business were utilized by the rich. A poor boy had little chance of being other than a poor man. Not only was the subject of this sketch born to poverty, but he also inherited a deformity which made him the butt of ridicule among his vulgar companions. His childhood was made up of neglect which developed a cold, distant nature. He is generally described as a loveless old man, but his biographers seem to forget the influences that surrounded his childhood. Such were the opportunities enjoyed by Girard; such the chance offered to him, but he held that a man's best capital was "industry," and this seemed to have been his main idea to the last; as he willed but little property to his relatives, and but little to any one individual.

He sailed as cabin boy at the age of twelve, and by following a line of fidelity, industry and temperance, gained the esteem and confidence of the captain who gradually learned to call him "My Stephen," and at his death placed him in command of a small vessel. He became a resident of Philadelphia, and owned a farm a short distance out of the city. When he visited this farm he rode in an old gig drawn by a scrawny horse; when he arrived he fell to work like any common hand, and labored as though his very subsistence depended on it. This is an illustration showing the secret of his success in life. He was familiar with every detail, in every department of his business; no matter what part of his business he went to oversee he was no novice.

With Stephen Girard nothing came by chance. He was a self-taught man, having but little education so far as books go; but in the great school of actual business he received a diploma, and to this was afterwards added several complimentary degrees earned after his graduation. He never ceased to be a progressive man. A large range of stores were for sale in the city of Philadelphia at a great sacrifice; these Girard would have been glad to buy but he lacked sufficient funds; seeing it beyond his means to buy safely, he leased them for a term of years and then sublet them at an immense profit.

How few young men have the necessary enterprise to gain for themselves success. Girard had both enterprise and energy; it is not at all surprising that he succeeded. And this was not all; of whatever he undertook he had thoroughly mastered the details, hence was prepared for success and made money; that money he saved. Ah! that is three-fourths of the secret. Most young men earn enough but foolishly throw it away on unnecessaries.

If Girard owed a man a cent he could rest assured that he would get it; if a man owed him there was much trouble in the way for that man if he attempted to evade the payment. He was just to all men and just to himself and family. There is another feature in the history of Girard that is worthy of imitation; that is he kept abreast, yea, ahead of the times,--he made a study of the various problems of his day.

He saw that the United States Bank was daily growing less popular, and he saw that it must go down in the near future. He had prospered in his shipping business, and seeing here a grand opportunity he began to study up on banking preparatory to taking the bank. Reader, think of this kind of enterprise. His friends might think such a thing visionary; the best financier might pass the opportunity by, but this man knew that the United States Bank had a vast patronage, and he also knew that the man who stepped into its business would have every reason to expect success. He at once set about to buy a controlling interest in the stock. When the bank was discontinued it was found that he had not only secured a controlling interest in the stock, but had gained possession of the bank building itself. While his friends were predicting his ruin he had bought $1,200,000 worth of stock and, by so doing, had stepped into the largest banking business of the Republic.

Does one of my readers for one moment allow himself to believe that Stephen Girard was a lucky man? Was it 'good luck' that placed Girard at one move at the head of American financiers? As is well known a great panic followed Jackson's administration, and, of a whole nation, Stephen Girard seems to have been the only prosperous man. His capital stock soon became $4,000,000. In this capacity he was enabled to aid his Government much, in fact to save it from ruin in the terrible crash of 1837.

Stephen Girard was bent upon getting rich and yet, while he is generally regarded as a cold money-getter, still he had a heart, a tender heart, locked up within that cold exterior. While the terrible plague, yellow fever, raged in Philadelphia with a violence never before known in American history, and while many others fled the city, Stephen Girard remained and nursed the dying,--performing with his own hands the most loathesome duties, and giving most liberally of his wealth toward the fund for the suppression of the disease.

A young man, who was a protege of Girard, was one day called to the private office of that gentleman, when the following dialogue took place: "Well, you are now twenty-one, and should begin to think of a life-work." The young man who thought perhaps Girard was going to set him up in some business, said, "What would you do if in my place, Mr. Girard?" Imagine his astonishment when Mr. Girard replied, "I should learn some trade." The young man, who was built of the right material, said, "Very well, I will learn the cooper's trade." In the course of a few years he received a letter from Mr. Girard ordering the best barrel that he could make with his own hands. When done it was delivered. The young man was thunderstruck when, after a thorough inspection by Girard, he received a check for $20,000; the reader can draw the moral.

Time fled, the 26th of December, 1831, came, and with it the death of this man. At his death he possessed about $9,000,000, not a large fortune compared with those of the rich men of our day, but a colossal sum for his day. For all practical purposes it is just as great and useful as one hundred millions.

When his will was read it was found that he had left to the Pennsylvania institute for deaf and dumb, $20,000; to the Orphan Asylum of Philadelphia, $10,000; for fuel for the poor of Philadelphia, $10,000; to the Philadelphia Public Schools, $10,000; to the Society for the Relief of the Distressed Masters of Ships, $10,000; to the Masonic Loan, $20,000; to the city of Philadelphia, $500,000; and to the State of Pennsylvania, $300,000. There were other bequests, the largest of which was $2,000,000, with which to found a college for orphan boys who were to be taken between the ages of fourteen and eighteen. He left minute directions pertaining to the construction and other details, showing even at this time that carefulness, which characterized his life's history. The main building is said to be the finest specimen of Grecian architecture in the world,--it surely is the finest in America. "Contemplating the humility of his origin, and contrasting therewith the variety and extent of his works and wealth, the mind is filled with admiration of the man."

MOSES TAYLOR.

What a pleasure it is to read the lives of such men as Moses Taylor. He began life as a clerk and died worth $50,000,000; but it is not alone for his wealth that we take such an interest in Moses Taylor, but the good he did with it, and the example he set moneyed men.

Born in New York, January 11th, 1808, he served a clerkship of ten long years, when he started business on his own account. The cholera raged that year in that city; consequently all business suffered, many fled from their homes but young Taylor stood by his new enterprise, and even the first year cleared some money. Three years later he was burned out, but while the smouldering brands lay at his feet he arranged to erect a new building to stand on the same spot, and the next day opened a store in his dwelling house. Of course such enterprise would win in the end; when he was called to the presidency of the city bank no one seemed surprised for when a man has ability it is not necessary for him to tell it--he becomes a marked personage. The success that attended his efforts in this new capacity is shown from the following:

In the great panic of 1857 a meeting of the various bank presidents was called. When asked what percentage of specie had been drawn during the day some replied fifty per cent., some even as high as seventy five per cent. but Moses Taylor replied, "We had in the bank this morning, $400,000; this evening, $470,000." While other banks were badly 'run,' the confidence in the City Bank under his management was such that evidently people had drawn from other banks and deposited in the City Bank. He was Treasurer of the Transatlantic Cable, being one of its most ardent supporters from 1854 until long after it had became established.

He was a most conspicuous 'War Democrat,' taking an early stand as to the duty of all bankers. Probably no one man, save possibly Jay Cook, did more to sustain the credit of the North in those trying times than did Moses Taylor. He became interested in the Delaware, Lackawanna & Western railway, and the mines in the coal regions of Pennsylvania. In 1873 he became President of the Lackawanna Iron and Coal Co. He also became largely interested in the Manhattan Gas Co., out of which alone he made a respectable fortune. When he died he left a very large sum of money for the purpose of building a hospital at Scranton. The need of this hospital was very urgent, as accidents were continually happening to the miners in their dangerous work. The building is not only a splendid edifice but it fills a long-felt want.

Such a man was Moses Taylor who died May 23rd, 1882. Few such men have we, would that there were more. Moses Taylor was a practical man, he cared more for business than for any amusement. Art was of far less account with him than were the suffering miners who had no place to stretch their bleeding forms until he came to their aid.

WILLIAM C. RALSTON.

William C. Ralston, a synonym for goodness, was born at Wellsville, Ohio, January 15th, 1820. He drifted to California, being one of the first to pass through the Golden Gate. Here he remained for twenty-five years, becoming the most noted man in the State, having prospered wonderfully.

It has been truly said of him that he did more than any other one man to secure a good municipal government for San Francisco. Aiding with his money weak industries, he did much to elevate the tone of a class of people consisting of almost every nationality--the miners. The struggling young man had nothing but sympathy extended him from this great philanthropist; indeed, his great desire seemed to be, what can I do for my less fortunate fellow-man. He was elected President of the Bank of California, to succeed Mr. Mills. This bank had a credit all over the globe. It was the greatest financial power in the Republic. Such was its standing in the financial world when Mr. Mills delivered the bank over to Mr. Ralston. Mr. Ralston was a great and good man, but his desire to benefit and aid others led him to place out the bank's money too freely; hence, when Mr. Flood made his sudden and unlooked for call for over $5,000,000, the amount of his deposit, it was useless for the bank to try to raise it at once, as it could not be done, notwithstanding the bank had ample resources, if they had only been available. Mr. Flood, it seemed to us, need not have pressed his claim when he knew that the bank could pay him soon. It is claimed by some that he chose this method to cripple the Bank of California to the advantage of his Nevada Bank. Be this as it may, Mr. Ralston unwisely allowed his tender heart to be touched too deeply, and thus placed the bank in a weak position to meet such a crisis. A meeting of the directors was immediately called, and it was decided to ask the President for his resignation which, together with his household effects, he promptly tendered. This was a terrible blow to him, and it may be the officials were somewhat hasty. On the 27th of August he went down to the beach, put on his bathing suit, drank something from a bottle (it is alleged), dived into the waves, was carried far out and was never again seen alive.

As the people gazed on his lifeless body they began to realize what a loss they had sustained. Threats of vengeance were heard on every hand, which made it seem best for the founders of the rival Nevada Bank to abstain from being seen in their usual haunts. A public meeting was called, and long before the appointed time to begin the business of the meeting the public hall where it was held was packed, and thousands were unable to get in. One orator addressed those in the hall while the dense mass outside, who were unable to get in, were divided and addressed by two speakers. The several charges against him were in turn taken up, and either proven false or shown to be justified by the excited populace. The following resolution expressive of the irreparable loss the city had sustained, was presented.

_Resolved_, "That in reviewing the life of the deceased. William C. Ralston, we recognize one of the first citizens of San Francisco, the master spirit of her industries, the most bounteous giver to her charities, the founder of her financial credit, and the warm supporter of every public and private effort to augment her prosperity and welfare. That to his sagacity, activity, and enterprise, San Francisco owes much of her present material prosperity, and in his death has sustained an irreparable loss. That in his business conceptions he was a giant, in social life an unswerving friend, and in all the attributes of his character he was a man worthy of love and trust." When "All those in favor of this say aye," was called, the answer came like the sound of heavy artillery, and not a solitary 'No' was heard in that vast crowd.

Rev. T. K. Noble said, "The aim of his life was not to pull down but to build up. What enterprise can you mention looking to the betterment of material interests in which he did not have part? In the building of railroads, in the establishment of lines of steamships to Australia, to China, to Japan; in the manufacture of silk; in the Pacific Woolen Mills, the Bay Sugar Refinery, the West Coast Furniture Manufactory; and in those superb buildings, the Grand and Palace hotels; and in many other enterprises I have not time to mention. Into each and all of these he put his money and his brains." This was expressive of much, and it very clearly represented the general impression of the people throughout his State. He gave not only his money, but his sympathy.

People of the East who know of him principally as a man of great wealth cannot conceive an idea of such a man,--indeed they have none such among them. He was the moral phenomenon of modern times. The people of his State all love him, and there are those to-day who are struggling in various enterprises who can look to no one now for help, who like to tell of the time 'when they could have gone to 'Frisco and seen Ralston about it.' What a tribute is this; when we think of a man who regarded money only as a means to do good, and who seemed a special Providence to all in need. We look upon this picture and we see him happy only in giving; but we turn and our hearts bleed in sympathy when we behold him torn from his position, the victim of avariciousness and envy, which to all appearance is the immediate cause of his untimely death. But there is another thought here; he should have been very cautious in placing money where it could not be brought into immediate use in such an emergency.

Great was the feeling at his burial. Three regiments, cavalry, artillery, and the National Guard, escorted his remains to their last resting place. After several years Mrs. Ralston received back over $100,000, and is therefore comfortable. We shall forever mourn the death of such men, and ever regard and cherish their memory as among the dearest in American history.

GEORGE PEABODY.

A long time ago a little boy who was poorly dressed, but had an honest face, was passing a country tavern in Vermont; night was fast approaching, and he looked tired and hungry; seeing which, the landlord, who had a kind heart, generously offered him supper and a nights' lodging free. This he refused to accept, but said, "If you please, I will cut wood enough to pay my way." This was accepted by the landlord, and thus the affair passed. Fifty years later he passed the same tavern as George Peabody, the great London banker.

The above self-reliant nature was illustrative of the man. It is always interesting to learn how great fortunes were made. Nothing is so fascinating as success, and the momentous question relative to every great man is: "How did he begin?" George Peabody began life in Danvers, Massachusetts, February 18th, 1795. He was born of humble parents and the public schools of his native town furnished him his education. At the age of eleven he became a clerk in a grocery store where he remained four years, when he went to Newburyport to become a dry-goods salesman. By cultivating a loving disposition he gained friends wherever he went, and, of course, thus gained a confidence which he otherwise never would have known. For this reason he gained his first letter of credit which enabled him to buy his first consignment of goods without advancing the money for them.

As we review the various great and influential men we cannot but notice how many, out of the total number, cultivated a pleasing manner. Certain it is, to pleasing manners and ability owed he his success; without either he could not have succeeded. Without the generous heart he possessed he could never have won the great honor that he enjoyed, for great wealth alone could not bring such honor. He was a notable moral phenomenon. Of all the great and rich men of whom we are aware, none gave as liberally as did he. Reader, think of it; a poor boy who became one of the greatest bankers of his time, and who, during his life, gave over eight millions of dollars to charity. Many of our rich men have willed much to charity, but he gave while living.

He went to Georgetown, District of Columbia, and entered into a partnership with an uncle, the firm-style being Riggs & Peabody. They were wonderfully successful, and soon established branches in Philadelphia and New York. In 1829 Mr. Riggs retired from actual work, the firm-style becoming Peabody, Riggs & Co. Time passed on, the business grew, and in 1837 he went to London, soon after establishing the banking house of George Peabody & Co. He made banking his study and kept thoroughly posted on financial matters. At about this time the great panic occurred in America, and at a great risk of losing his fortune he bought Maryland securities. But George Peabody knew what he was about; he was thoroughly posted and was capable of managing a banking business. By his influence with the Bank of England, he soon became recognized as the man who had saved Maryland from bankruptcy.

He now began to dispense the great fortune with which God had so bountifully blessed him. In 1851 he supplied a large sum, so much needed, to make a success of the great Worlds Fair in London. In 1851 he gave $10,000 toward the second Grennell expedition, and the same year the people of his native town, Danvers, invited his presence at an anniversary. He could not personally attend, but sent them $20,000 to be applied toward education. In 1857 he gave the city of Baltimore $300,000 to found a college, and afterward added to this magnificent sum $200,000 more. In 1866 he added still $500,000 more, and later yet $400,000 more, making $1,400,000 in all he gave to this one institution, which is called Peabody Institute. He gave nearly $3,500,000 toward the fund to educate the poor of the South. He gave Yale and Harvard college each $150,000; to Phillips Academy $25,000; to Peabody Academy $140,000; to the Memorial Church in Georgetown $100,000; to Peabody Academy $250,000; and numerous other contributions in America.

In London he established a fund of $3,000,000 with which to build homes for the poor of that great city. The Queen acknowledged this in a private letter, and presented him with her portrait painted on ivory and set in jewels, valued at $255,000. She also offered to make him a Baron, but this he respectfully declined.

He resembled the late A. T. Stewart in some respects. No gold chain ever hung from his watch, and when he wore studs or other ornaments they were never more costly than pearl. He detested show. Altogether during his life he gave away over _eight millions of dollars_, and at his death left a fortune of over four millions. Had he saved his money and manipulated it like many of our great millionaires have done, we doubt not he would have died worth perhaps twenty or thirty millions.

He, however, had gained not only worldly success, but true success, for when he died in 1869, both of the great English speaking nations united to do him honor. He was at first laid in Westminister Abbey among the dead kings and queens. After this her Majesty's ship Monarch bore his remains to America to be buried in Danvers. The respect in which he is held by the people of that town is shown when we know that they have since changed the name of their town to Peabody. He left an imperishable crown containing pearls which cannot be stolen. They are set in homes for the poor, libraries for every one, schools for the young, and other securities which are safely stored in the hearts of a grateful people. Ah! we are thoughtful after reading the life of such a man.

WILLIAM W. CORCORAN.

The veteran philanthropist, William W. Corcoran, was born in 1798. He began his business career in Georgetown, but for many years he has been a resident of Washington. At twenty he went into business for himself, beginning as an auctioneer. After several years of successful business he was obliged to suspend, during the depressed times of 1838.

After this he was married to the beautiful daughter of Commodore Morris, of the United States Navy, much to the disgust of that gentleman, who little dreamed what an illustrious son-in-law Mr. Corcoran was destined to become. Some years of hard struggle followed, but at last it was found that he had won for himself a somewhat extended reputation as a financier, which gained for him a partnership with the successful banker, Riggs. This firm began to deal in United States Government securities, which were then at a low ebb abroad. Being a boy friend of George Peabody, the great London banker, his firm was enabled to materially aid the Government in its financial straits during the Mexican war. As the firm prospered, Mr. Corcoran became wealthy, and this money he laid out in Washington real estate, the rapid rise of which made him a millionaire. As Mr. Corcoran prospered he began to think of those old debts. When he had failed he secured favorable terms with his creditors, and legally was not bound for one cent, but he recognized a higher obligation than law made by man: hunting up all those old customers, creditors of his, he paid them not only the principal, but the interest that had been accumulating all these years. By this one act we gain a glimpse of the inner heart and impulses of this great and good man.

Thousands of dollars found their way into the hands of charity, but then his desire to aid and gratify humanity was not satisfied.

On May 10th, 1869, the grounds and institution for the Corcoran Art Gallery was deeded to trustees, and later was incorporated by Congress, being exempted forever from taxation. The gallery is situated directly opposite the State, War, and Navy buildings. It has a frontage of one hundred and six feet; is built of fine, pressed brick; and is one of the most attractive buildings in the whole City of Washington. The whole building cost $250,000, and the donor placed therein his own private collection of paintings and statuary, valued at $100,000. Not satisfied with this he has added an endowment fund of $500,000. Many rare and beautiful works of art have been purchased abroad, as well as American works of rare value. Tuesdays, Thursdays, and Saturdays the gallery is free; on alternate days an admission of twenty-five cents is charged. When it is considered how many there are who would naturally take advantage of the free days, and then that the annual income is over $75,000, one can form some idea of the attractiveness of this institution. Mr. Corcoran's desire was to elevate the American taste in the finer arts, and the thousands of visitors which the institution attracts, indicates to what an extent he has succeeded. The lower floor is devoted to statues and to the exhibition of sculpture. The second floor is occupied by several hundred rare and costly paintings, representing the advance of art during the past centuries. The gallery is, probably, all things considered, the finest of the kind in the country.

Another institution of wide celebrity is the Louisa Home, founded by Mr. Corcoran in 1871. It is a magnificent building, conspicuously situated in the most fashionable part of the city, the West End. This is a most worthy institution, designed for ladies who have been reduced from affluence to poverty, affording them a home where they can mingle with a class of people congenial to their refined natures. This building is a beautiful brick structure, four stories high, erected at a cost of $200,000. Visitors are welcome every afternoon.

These are only two of the many gifts and enterprises which originated with the venerable banker. George Peabody and William Corcoran were boys together; how similar their lives have been. Would that there were more Corcorans, more Peabodys. Mr. Corcoran has given several millions to charity and art; how we envy him--not for his wealth, but his reputation, or better, would that we could do as much good in the world as did these two great men.

NATHAN MAYER ROTHSCHILD.

Who indeed is there who has not heard of the Rothschilds? But how few there are who know much of them save that they are the richest bankers in the whole world. The subject of this sketch was the richest and most noted of five brothers. The father, Mayer Anselm Rothschild, sprung from a poor Jewish family, and was a clerk in Hanover before establishing himself at Frankfort. At Hanover it is claimed that his integrity and ability became so marked in every position to which he was called that the attention of the Government was called thereto.

After the great French victory of Jena, Napoleon decreed that the Governor of Hesse-Cassel should have his lands and property confiscated. The order was no sooner given than a French army was on its way to carry the edict into effect. The Elector William, before his flight from Hesse-Cassel, deposited with the father of the subject of this sketch $5,000,000, without interest, for safe keeping. There was no luck about this; it was a most difficult undertaking at that time. Any one who had been found with this money would have lost his life. For Rothschild to invest it so that he could make money from its use was his object; to do so safely and secretly required a good business tact. The Elector, it is said, studied sometime before he decided to whom he could intrust this vast sum during his absence. Thus it is seen that as Rothschild came of poor parents, and was simply a clerk. It was not so much luck in his case as strict integrity and the determination he manifested to master everything he undertook. This Rothschild had five sons, and by the aid of these, through different bankers, he succeeded by good management to lay a foundation upon which has been built that colossal fortune which the sons have accumulated. This money, belonging to the Elector, they had the benefit of until 1828, when the whole was paid over to the heirs of the original owner with two per cent. interest for a portion of the time. Of the five brothers, Anselm was situated at Frankfort, Solomon at Vienna, Charles at Naples, James at Paris, and Nathan at London. The two ablest financiers were James and Nathan, and of these two Nathan was the superior. His son was the first Jew that ever sat in the English Parliament. It has been said that the fundamental rule of this great banking-house was "To sell when people desired to buy, and buy when people wished to sell." It is related of Nathan Mayer Rothschild that, all day long, at the battle of Waterloo, he hung about the skirts of the two armies, waiting to see how the battle turned. Toward night of that memorable day, the clouds of smoke lifting, revealed the French army in full and disastrous retreat. Rothschild took in the situation at once. True to his instincts, he saw in that awful carnage only the shimmer of his gold. Chance had overcome the most heroic valor, the most stubborn resistance, the best laid plans, and once more declared in the Hebrew's favor. He dashed into Brussels, whence a carriage in waiting whirled him into Ostend. At dawn he stood on the Belgian coast, against which the sea was madly breaking. He offered five, six, eight, ten hundred francs to be carried over to England. The mariners feared the storm; but a bolder fisherman, upon promise of twenty-five hundred francs, undertook the hazardous voyage. Before sunset Rothschild landed at Dover; and engaging the swiftest horses, rode with the wind to London. What a superb special correspondent he would have made! The merchants and bankers were dejected; the funds were depressed; a dense fog hung over the city; English spirits had sunk to their lowest ebb. On the morning of the 20th, the cunning and grasping Nathan appeared at the Stock Exchange, an embodiment of gloom. He mentioned, confidentially, of course, to his familiar that Blucher, at the head of his vast army of veterans, had been defeated by Napoleon, at Ligny, on the 16th and 17th, and there could be no hope for Wellington, with his comparatively small and undisciplined force. This was half true, and like all half-truths, was particularly calculated to deceive. Rothschild was a leader among trading reynards. His doleful whisper spread as the plague--poisoning faith everywhere. The funds tumbled like an aerolite. Public and private opinion wilted before the simoon of calamitous report. It was 'Black Friday' anticipated in Lombard Street. The crafty Israelite bought, through his secret agents, all the consols, bills, and notes, for which he could raise money.

Not before the afternoon of the 21st--nearly forty eight hours after the battle--did the news of Wellington's victory reach London through the regular channels. Rothschild was at the Exchange half an hour before the glad tidings were made public, and imparted them to a crowd of greedy listeners. The Bourse was buoyant. Everything went up more rapidly than it had gone down. England was happy--as well she might be--for she had stumbled into the greatest triumph in her history. When bankers and merchants shook hands with the Hebrew speculator, they noticed--though they did not understand--an unusual warmth of pressure. It was not rejoicing with the nation; it was the imaginary clutch of six millions more of gold. Thus it is seen that the great wealth of the Rothschild was not always used to the best advantage of mankind as a Christian would argue; but a promise given by a Rothschild was as good as his note.

Their immense wealth has greatly aided, at different times, all and singular, the various European countries. A favorite investment with them has been loans to the different Governments throughout the world.

During twelve years of their business experience they loaned to different European Monarchies over $400,000,000. When it is considered that this was but one division of their business, something of an idea of its magnitude can be imagined. An amusing story is told of Nathan which will be of interest to some of our readers, and enable them to see how fertile was his mind in emergencies.

Anselm, the brother at Frankfort, drew on Nathan, of London, for a large amount, and the bill was presented to the Bank of England to be discounted. The bank officials refused, saying, "We do not discount bills drawn on private persons; we recognize only our own paper." "Private persons!" exclaimed Nathan Rothschild when the interview was reported to him, "I will show them what kind of private persons we are." Three weeks afterwards, Nathan Rothschild,--who had employed the interval in collecting all the five-pound notes he could buy on the continent, or in England--presented himself at the bank on the opening of the office. He drew from his pocket-book a five-pound note, and they counted him out in exchange five gold sovereigns, at the same time looking quite astonished that the Baron Rothschild should have personally troubled himself for such a trifle. The Baron examined the pieces one by one, and having put them in a little canvas bag, proceeded to draw out another five-pound note, then another, and another and so on. He never put the pieces of gold into the bag without scrupulously examining them, in some instances weighing in his balance, as, he said, "the law gave him the right to do." The first pocket-book being emptied and the first bag full of coins, he passed them to his clerk, and received a second, and thus continued to the closing of the bank. The Baron had employed seven hours to exchange twenty-one thousand pounds. But as he also had nine employes of his house engaged in the same manner, it resulted that the house of Rothschild had drawn over $1,000,000 from the bank. He had drawn gold exclusively, and so occupied the bank employes that no one else could do any business.

The bankers the first day were very much amused at "This display of eccentricity." They, however, laughed less the next day when they beheld Rothschild on hand early, flanked by his nine clerks.

They laughed no longer when they heard the irate banker say, "These gentlemen refused to pay my bills; I have sworn not to keep theirs. They can pay at their leisure; only I hereby notify them that I have enough to employ them two months!" Two months! Fifty-five million dollars in gold drawn from the Bank of England which was more gold than they had to pay! The bank was now thoroughly alarmed. Something must be done, and the next morning notice appeared in all the papers that henceforth the Bank of England would pay Rothschild's bills as well as its own.

From anecdotes one can often learn much of the inner life and thoughts of people, and much can be seen of the real character of the subject of this sketch from the above story. This Napoleon of Finance died in 1836.

_"The man who seeks one thing in life, and but one,
May hope to achieve it before life be done;
But he who seeks all things, wherever he goes,
Only reaps from the hopes which around him he sows
A harvest of barren regrets."_

JOHN ADAMS.

The subject of this narrative was a great-grandson of Henry Adams, who emigrated from England about 1640, with a family of eight sons, being one of the earliest settlers in the town of Braintree, Massachusetts, where he had a grant of a small tract of forty acres of land. The father of John Adams, a deacon of the church, was a farmer by occupation, to which was added the business of shoemaking. He was a man of limited means, however, was enabled by hard pinching to give his son a fairly good education.

The old French and Indian war was then at its height; and in a remarkable letter to a friend, which contains some curious prognostications as to the relative population and commerce of England and her colonies a hundred years hence, young Adams describes himself as having turned politician. He succeeded in gaining charge of the grammar school in Worcester, Massachusetts, but, instead of finding this duty agreeable, he found it 'a school of affliction,' and turned his attention to the study of law. Determined to become a first-class lawyer, he placed himself under the especial tuition of the only lawyer of whom Worcester, though the county seat, could boast.

He had thought seriously of the clerical profession, but, according to his own expressions, "The frightful engines of ecclesiastical councils, of diabolical malice, and Calvinistic good nature," the operation of which he had witnessed in some church controversies in his native town, terrified him out of it. Adams was a very ambitious man; already he had longings for distinction. Could he have obtained a troop of horse, or a company of infantry, he would undoubtedly have entered the army. Nothing but want of patronage prevented his becoming a soldier.

After a two years' course of study, he returned to his native town, Braintree, and in 1758 commenced practice in Suffolk county, of which Boston was the shire town. By hard study and hard work he gradually introduced himself into practice, and in 1764 married a young lady far above his station in life. In our perusal and study of eminent men who have risen by their own exertions to a higher sphere in life, we are not at all surprised to find that they have invariably married noble women--ladies, who have always maintained a restraining influence when the desire for honor and public attention would appeal to their baser self, and whose guiding influence tended to strengthen their efforts when their energies seemed to slacken. So it was with John Adams; his wife was a lady of rare abilities and good sense, admirably adapted to make him happy. Boys, be careful whom you marry!

Shortly after his entrance into the practice of the law, the attempt at parliamentary taxation diverted his attention from his profession to politics. He was a most active oppositionist. He promoted the call of the town of Braintree to instruct the representatives of the town on the subject of the Stamp Act. The resolutions which he presented at this meeting were not only voted by the town, but attracted great attention throughout the province, and were adopted verbatim by more than forty different towns. Thus it is seen that Adams had not studied hard all these years for nothing; the price of success is honest, faithful WORK.

Of course his towns-people would reward him. Men who have ability, unless some bolt is loose, will invariably gain success. Soon after this Mr. Adams was appointed on the part of the town of Boston to be one of their counsel, along with the King's attorney, and head of the bar, and James Otis, the celebrated orator, to support a memorial addressed to the Governor and Council, that the courts might proceed with business though no stamps were to be had. Although junior counsel, it fell to Adams to open the case for the petitioners, as his seniors could not join; the one owing to his position as King's attorney, the other could not as he had recently published a book entitled the 'Rights of the Colonies.' This was a grand opportunity for Adams and he made the most of it,--boldly taking the ground that the stamp act was null and void, Parliament having no right to tax the colonies. Nothing, however, came of this application; the Governor and Council declining to act, on the ground that it belonged to the Judges, not to them, to decide.

But Adams had put himself on record, and this record established his reputation. "There is a tide in the affairs of men, which, taken at the flood, leads on to fortune." The time came to Adams to distinguish himself, and he was not found wanting. It was at this same period that Mr. Adams first appeared as a writer in the _Boston Gazette_. He never allowed his opportunities to pass unheeded; in fact, he made his opportunities. Among other papers which appeared at this time from his pen, was a series of four articles which were republished in a London newspaper, and subsequently published in a collection of documents relating to the taxation controversy, printed in a large volume. At first the papers had no title in the printed volume, being known as "Essays on the Canon and Feudal Law." Well they might have been called so, but, it seems to us, that it would have been much more consistent to have entitled them "Essays on the Government and Rights of New England." His style was formed from the first, as is evident from the articles.

His law business continued to increase and in 1768 he removed to Boston where he would have a larger field in which to develop his intellect. He served on various committees during the next two years, and in 1770 was chosen a Representative to the general Court, notwithstanding he had just before accepted a retainer to defend Captain Preston and his soldiers for their share in what had passed into history as the Boston massacre. His ability as a practitioner at the bar can be judged from the successful result of their case, as managed by him, against great public prejudice. Adams' duties as a Representative interfered much with his business as a lawyer, on which he depended for support, and which had grown to be larger than that of any other practitioner at the provincial bar.

He entered upon the duties of his new office with his customary energy, becoming the chief legal advisor of the Patriot party, and now for the first time an active and conspicuous leader of the same. Mr. Adams' keen foresight enabled him to wisely judge that it would be a good policy not to push too vigorously to the front as a politician until his private wealth would justify his necessarily great loss of time. Hence, he moved back to Braintree, resigning his seat in the Legislature, but still retaining his law office in Boston. A comparative lull in politics made his presence in that body less needed, but still he was consulted as to all the more difficult points in the controversy with Governor Hutchinson, and freely gave his aid. Indeed, it was not long before he moved back to Boston, but thoroughly resolved to avoid politics, and to devote his undivided attention to his professional work. Soon after his return to Boston he wrote a series of letters on the then mooted question of the independence of the judiciary, and the payment by the Crown of the salaries of the Judges. Soon after this he was elected by the general Court to the Provincial Council, but was rejected by Governor Hutchinson.

The destruction of tea, and the Boston port bill that followed, soon brought matters to a crisis. These events produced the congress of 1774. Mr. Adams was one of the five delegates sent from Massachusetts, and his visit to Philadelphia at this time was the first occasion of his going beyond the limits of New England. In the discussions in the committee on the declaration of colonial rights, he took an active part in resting those rights on the law of nature as well as the law of England; and when the substance of those resolutions had been agreed upon he was chosen to put the matter in shape. In his diary the most trustworthy and graphic descriptions are to be found of the members and doings of that famous but little known body. The session concluded, Mr. Adams left the city of brotherly love with little expectation, at that time, of ever again seeing it.

Immediately after his return home he was chosen by his native town a member of the provincial congress then in session. That congress had already appointed a committee of safety vested with general executive powers; had seized the provincial revenues; had appointed general officers, collected military stores, and had taken steps toward organizing a volunteer army of minute-men. The governor--Gage--had issued a proclamation denouncing these proceedings, but no attention was ever paid to it. Gage had no support except in the five or six regiments that guarded Boston, a few trembling officials and a small following from the people.