Fifty years in Wall Street
Republic.—Enlightenment of the World Must Result in
the Freedom of Man
CHAPTER XLVIII.
LARGE FORTUNES AND THEIR DISPOSITION.
How the Fortunes of the Astors were Made.—George 529
Peabody and His Philanthropic Schemes.—Johns Hopkins
and his Peculiarities.—A. T. Stewart and his Abortive
Plans.—A Sculptor’s Opinion of his
Head.—Eccentricities of Stephen Girard, and How he
Treated his Poor Sister.—His Penurious Habits and
Great Donations.—James Lenox and the Library which he
Left.—How Peter Cooper Made his Fortune, and his
Liberal Gifts to the Cause of Education.—Samuel J.
Tilden’s Munificent Bequests.—The Vanderbilt
Clinic.—Lick, Corcoran, Stevens and Catharine Wolf
CHAPTER XLIX.
SOUTHERN AFFAIRS IN SPECULATION.
The Preservation of the Union a Great Blessing.—To Let 541
them “Secesh” would have been National Suicide.—How
Immigration has Assisted National Prosperity.—Rescued
from the Dynastic Oppression of European
Governments.—Showing Good Fellowship towards the
Southern People and Aiding them in their Internal
Improvements.—The South, Immediately after the War,
had Greater Advantages than the North for Making
Material Progress.—The Business of the North was
Inflated.—The States of Georgia and Alabama Offered
Inviting Fields for Investment.—Issuing State
Securities, Cheating and Repudiating.—President
Johnson Chiefly to Blame for the Breach of Faith with
Investors who were Swindled out of their
Money.—Revenge and Avarice Unite in Financial
Repudiation
CHAPTER L.
WESTERN AND SOUTHERN FINANCIAL LEADERS.
Alfred Sully, his Origin and Successful Career.—Calvin 553
S. Brice, a Financier of Ability.—General Samuel
Thomas, Prominent in the Southern Railroad
System.—General Thomas M. Logan, a Successful Man in
Railroading and Mining.—Financial Chieftains of
Baltimore.—The Garretts.—Their Great Success as
Railroad Managers.—Portrait of Robert Garrett
CHAPTER LI.
ARBITRATION.
How the System of Settling Disputes and 561
Misunderstandings by Arbitration has Worked in the
Stock Exchange.—Why not Extend the System to Business
Matters Generally?—Its Great Advantages over Going to
Law.—It is Cheap and has no Vexatious Delays.—Trial
by Jury a Partial Failure.—Some Prominent Cases in
Point.—Jury “Fixing” and its Consequences.—How Juries
are Swayed by their Sympathies.—A Curious Miscarriage
of Justice before a Referee.—The Little Game of the
Diamond Broker
CHAPTER LII.
NEW YORK AS A FINANCIAL CENTRE.
Its Past, Its Present, Its Future.—Banking 577
Decadence.—Growth of Interior Centres.—Obstruction
from the National Bank Laws.—Relief
Demanded.—Requirements of the Future
CHAPTER LIII.
EARTHQUAKE THEORIES AND WALL STREET AFFAIRS.
The Shock of Every Calamity Felt in Wall 589
Street.—Earthquakes the only Disasters which seem to
Defy the Power of Precaution.—Becoming a Subject of
Serious Thought for Wall Street Men and Business
Men.—The Volcanic Theory of Earthquakes.—Other Causes
at Work Producing these Terrific Upheavals.—Why
Charleston was more Severely Shaken Up than New
York.—Why the Southern Earthquake did not Strike Wall
Street with Great Force.—Earthquakes Likely to Become
the Great Disasters of the Future
CHAPTER LIV.
AUGUST BELMONT.
The American Representative of the Rothschilds.—Begins 595
Life in the Rothschilds’ House in Frankfort.—Consul
General to Austria and Minister to the Hague.—A Great
Financier and a Connoisseur in Art
CHAPTER LV.
THE SOCIALIST OBJECTIONS TO THE PRESENT ORDER OF SOCIETY EXAMINED.
Increase of Population and the Growing Pressure upon 599
the Means of Subsistence.—Education and Moral
Improvement the True Remedy for Existing or
Threatened Evils.—Errors of Communism and
Socialism.—How Socialistic Leaders and Philosophers
Recognize the Truth.—Growth of Population Does Not
Mean Poverty
CHAPTER LVI.
STOCK EXCHANGE CELEBRITIES.
How Wall Street Bankers’ Nerves are Tried.—Fine Humor, 603
Jocular Dispositions, and Scholarly Taste of
Operators.—George Gould as a Future Financial
Power.—American Nobility Compared with European
Aristocracy.—How the Irish Can Assist to Purge Great
Britain of her Bilious Incubus of Nobility.—The
Natural Nobility of Our Own Country and Their Destiny
CHAPTER LVII.
A LOOK INTO THE FUTURE.
What We Are.—What We are Preparing For.—What We are 611
Destined to Do and to Become.—We are Entering on an
Era of Seeming Impossibilities.—Yet the Inconceivable
Will be Realized
CHAPTER LVIII.
JAY GOULD.
His Birth and Early Education.—Clerk in a Country 619
Store.—He Invents a Mouse Trap.—Becomes a Civil
Engineer and Surveys Delaware County.—Writes a Book
and Sells it.—Gets a Partnership in a Pennsylvania
Tannery and soon Buys his Partner Out.—He comes to
New York to Sell his Leather, falls in Love with a
Leather Merchant’s Daughter and Marries her.—Settles
in the Metropolis and begins to Deal in
Railroads.—Buys a Bankrupt Road from his
Father-in-law, Reorganizes it and Sells it at a
Considerable Profit.—Henceforth he makes his Money
Dealing in Railroads.—His Method of Buying,
Reorganizing and Selling Out at a Large Profit.—How
he Managed Erie in connection with Fisk and Drew.—His
Operations on Black Friday.—Checkmated by Commodore
Vanderbilt and obliged to Settle.—He makes Millions
out of Wabash and Kansas & Texas.—His Venture in
Union Pacific.—His Construction
Companies.—Organization of American Union Telegraph,
and his Method of Absorbing and Getting Control of
Western Union.—The Strike of the Telegraphers and his
Great Encounter with the Knights of Labor and Trades
Unionist.—Gould’s First Yachting Expedition.—An
exceedingly Humorous Story of his early Experience on
the Water.—His Status as a Factor in Railroad
Management
CHAPTER LIX.
MEN OF MARK.
Cyrus W. Field.—Russell Sage.—Addison Cammack.—The 659
Jerome Brothers.—Moses Taylor.—Chauncey M.
Depew.—Austin Corbin.—Anthony J. Drexel.—John A.
Stewart.—Hon. Levi P. Morton.—Philip D.
Armour.—Stedman, the Poet.—Stephen V. White.—H.
Victor Newcombe.—James M. Brown.—Former Giants of the
Street.—Henry Keep.—Anthony W. Morse
CHAPTER LX.
James B. and John H. Clews 683
CHAPTER LXI.
A Remarkable Chapter of History 685
CHAPTER LXII.
Booms in Wall Street 700
CHAPTER LXIII.
A Glimpse into the Future 716
CHAPTER LXIV.
My Christmas Address to Customers, December 24, 1906 724
CHAPTER LXV.
Edward H. Harriman 726
CHAPTER LXVI.
The Ups and Downs of Wall Street 728
CHAPTER LXVII.
Recent Wall Street Booms 744
CHAPTER LXVIII.
Wall Street’s Wild Speculation, 1900-1904 755
CHAPTER LXIX.
Review of the Panic Year, 1903 771
CHAPTER LXX.
Leading Wall Street Events up to the Fall of 1907 774
CHAPTER LXXI.
The Great Crisis of 1907 790
CHAPTER LXXII.
The Causes of the Crisis of 1907 797
CHAPTER LXXIII.
RECENT MEN OF MARK.
Charles M. Schwab.—Daniel Gray Reid.—Thomas Fortune 801
Ryan.—John Warne Gates.—August Belmont.—William H.
Moore.—Anthony Nicholas Brady.—Stuyvesant Fish
CHAPTER LXXIV.
Needed Publicity and Reform in Corporations 807
CHAPTER LXXV.
The Monetary Situation and its Remedies 822
CHAPTER LXXVI.
Individuality versus Socialism 836
CHAPTER LXXVII.
Great Wealth and Social Unrest 855
CHAPTER LXXVIII.
The Financial Situation 879
CHAPTER LXXIX.
Table showing Dates of Admission of the Members of the 913
New York Stock Exchange
CHAPTER LXXX.
England and Russia in our Great Civil War and the War 917
between Russia and Japan
CHAPTER LXXXI.
The Crisis of 1907 and its Causes. Was President 927
Roosevelt to Blame?
CHAPTER LXXXII.
Our Great American Panics from First to Last 943
CHAPTER LXXXIII.
Wall Street as It Really Is. A Vindication 955
CHAPTER LXXXIV.
The Financial and Trade Situation, Past, Present and 964
Future, Reviewing the Crisis of 1907, with Causes and
Remedies
CHAPTER LXXXV.
American Social Conditions 1001
CHAPTER LXXXVI.
Financial and Trade Situation and Prospects 1014
CHAPTER LXXXVII.
Peace Assurances from Japan 1033
CHAPTER LXXXVIII.
The Emperor of Japan 1037
CHAPTER LXXXIX.
The National Corporation Problem 1045
Conclusion 1063
------------------------------------------------------------------------
ILLUSTRATIONS.
PAGE.
Henry Clews Frontispiece