I. Merchants

Chapter I.

Stephen Girard.

The fog in the Delaware—News of the war—Alarm of the French skipper—A narrow escape from capture—Arrival of Girard in Philadelphia—Early history of Stephen Girard—An unhappy childhood—Goes to sea—Is licensed to command—Becomes a trader in Philadelphia—Marries Mary Lum—Unfortunate issue of the marriage—Capture of Philadelphia by the British—Early commercial life of Stephen Girard—How he earned his first money, and the use he made of it—Aid from St. Domingo—His rigid attention to business—Thoroughness of his knowledge—One of his letters of instructions—His subordinates required to obey orders though they ruin him—Anecdote of Girard and one of his captains—His promptness and fidelity in business—He never breaks his word—How he lost five hundred dollars—Buys the old Bank of the United States and becomes a banker—Cuts down the salaries of his clerks—Refuses his watchman an overcoat—Indifference to his employés—Contrast between his personal and business habits—His liberality in financial operations—He subscribes for the entire Government loan in 1814, and enables the United States to carry on the war—His generosity toward the Government—The suspension of specie payments—Financial troubles—How Girard saved his own notes—His public spirit—How he made half a million of dollars on a captured ship—Personal characteristics—Why he valued money—His ambition—His infidelity—Causes of the defects of his character—A favorable view—Heroic conduct of Stephen Girard during the prevalence of the yellow fever in Philadelphia—The Good Samaritan—He practices medicine, and congratulates himself that he has killed none of his patients—His industry—Visit of Mr. Baring to Mr. Girard—A curious reception—Failing health and death of Stephen Girard—His will—His noble bequests—Establishment of Girard College.

Chapter II.

John Jacob Astor.

Legitimate business the field of success—Reasons for claiming Astor as an American—Birth and early life—Religious training—The village of Waldorf—Poverty—The jolly butcher—Young Astor's repugnance to his father's trade—Unhappy at home—Loses his mother—His desire to emigrate to the "New Land"—Leaves home—His voyage down the Rhine—Reaches London and enters the service of his brother—His efforts to prepare for emigration—Learns to speak English—Peace between the United States and Great Britain—The road to the "New Land" open—Astor sets out for America—His first ventures in commerce—The voyage—How he proposed to save his Sunday clothes—Arrival in the Chesapeake—The ice-blockade—Astor makes a friend—The fur trader's story—Astor sees the way to fortune—Reaches New York—His first situation—Learning the business—His method of proceeding—An example to young men—His capacity for business operations—He is promoted—His journeys to Canada, and their results—Sets up in business for himself—The fur trade of North America—A survey of the field of Astor's operations—His capital—His tramps into the wilderness in search of furs—Predictions as to the future settlement of the country—His first consignment to England—His marriage—A good wife—Improvement in his prospects—Buys his first ship—The secret of his success—Close attention to business—His economical habits—His indorsement disputed by a bank clerk—Statements of the profits on furs—He engages in the Chinese trade—How the Government aided the early China traders—Amount made by Astor in his legitimate business—His real estate operations—His foresight and courage—How eight thousand dollars yielded eighty thousand—His real estate in the City of New York—Purchases the half of Putnam County—The Roger and Mary Morris estate controversy—Astor wins his suit, and makes half a million of dollars—Astor's scheme of colonization—A grand enterprise—Settlement of Astoria—Betrayed by his agents, and the scheme brought to failure—Astor withdraws from active business—His boyhood's vow and its fulfillment—Builds the Astor House—His voyage to Europe—The return—The troubles of a millionaire—The great man seasick—A curious draft—The last years of his life—His fondness for literary men—His death and burial—His will—Opposite views of his character—How his refusal to buy a chronometer cost him seventy thousand dollars—He remembers an old friend—His gift of a lease—His humor—"William has a rich father."

Chapter III.

Alexander T. Stewart.

Birth and early life—Becomes his grandfather's ward—Designed for the ministry—A change in his plans—Comes to America—Teaches school in New York—Becomes a dry goods merchant—Receives a legacy—His first importation—How he began business—An energetic trader—His sample lots and their history—Success of his enterprise—He begins by encouraging honesty in trade—Wins a name for reliability—The system of selling at one price—Inaugurates the "selling off at cost" feature—His courage in business—How he raised the money to meet his note—Improvement in his business—He enlarges his store—As an inducement to the ladies, employs for clerks handsome young men—The crisis of 1837—Stewart comes out of it a rich man—How he did so—Builds his lower store—Predictions of failure—The result—Compels the Government to purchase goods from him—His foresight and liberality—Charged with superstition—Lucky and unlucky persons—Story of the old apple woman—Remarks at the opening of the St. Nicholas Hotel—Reasons of Stewart's success—A hard worker—How he receives visitors—Running the gauntlet—How he gets rid of troublesome persons—Estimate of Mr. Stewart's real estate in New York—His new residence—His benevolence—Aid for Ireland, and free passages to America—Home for women—Political sentiments—Mr. Stewart's appointment as Secretary of the Treasury—Feeling of the country—The retail store of A.T. Stewart & Co.—A palace of glass and iron—Internal arrangements—The managers and salesmen—List of sales—Wages given—Visitors—The principal salesroom—The parcel department—The wagons and stables—Extravagant purchases—Mr. Stewart's supervision of the upper store—The system of buying—The foreign agencies—Statement of the duties paid each day—Personal appearance of Mr. Stewart.

Chapter IV.

Amos Lawrence.

The Lawrence family—A poor boy—Early education—Delicate health—Obtains a situation at Dunstable—Returns to Groton—Becomes Mr. Brazer's apprentice—The variety store—An amateur doctor—Importance of Groton in "old times"—Responsibility of young Lawrence—Is put in charge of the business—High character—Drunkenness the curse of New England—Lawrence resolves to abstain from liquors and tobacco—His self-command—Completes his apprenticeship—Visits Boston—An unexpected offer—Enters into business in Boston—Is offered a partnership, but declines it—His sagacity justified—Begins business for himself—Commercial importance of Boston—Aid from his father—A narrow escape—lesson for life—Amos Lawrence's method of doing business—-An example for young men—His business habits—He leaves nothing unfinished over Sunday—Avoids speculation—His views upon the subject—Introduces double entry in book-keeping into Boston—His liberality to his debtors—Does not allow his business to master him—Property gained by some kinds of sacrifices not worth having—Forms a partnership with his brother Abbott—Business of the firm—They engage in manufactures—Safe business principles—A noble letter—Political opinions—His charities—Statement of his donations—Requests that no public acknowledgment of his gifts be made—Character as a merchant and a man—Advice to his son—His religious character—Loss of his health—His patience and resignation—The model American merchant.

Chapter V.

Andrew V. Stout.

Early struggles—Acquires an education—Undertakes the support of his family—The boy teacher—Hard work—Is made instructor of Latin—A trying position—How he conquered his difficulties—Is made principal of a public school—His first business ventures—Engages in the building of houses—His platform of integrity—His success—A great mistake—He indorses a note—The consequence of a false step—Liberal action of the bank—Mr. Stout resolves to accept no accommodation—Pays the notes, and loses twenty-three thousand dollars—Establishes himself as a wholesale boot and shoe dealer—Enters the dry goods trade—Close attention to business—His system and its success—Organization of the Shoe and Leather Bank of New York—Mr. Stout is made Vice President, and subsequently President—Character as a citizen—Is made City Chamberlain—Generosity to the police force—Interest in church affairs—Kindness to the poor—Encouragement which his career affords others.

Chapter VI.

Jonas Chickering.

The largest building in the United States—The Chickering piano factory—Birth of Jonas Chickering—Early love of music—Is apprenticed to a cabinet-maker—Is employed to repair a piano—Succeeds in the undertaking—Consequence of this success—Becomes a piano-maker—Removes to Boston—Is employed as a journeyman—The labor of his life—His patience and skill—Is known as the best workman in the establishment—History of the piano—Chickering's first discovery—His hope of success based on intelligence—Becomes a master of the theory of sound—His studies and their result—Makes an improvement in the framing of pianos—Invents the circular scale for square pianos—Generously makes his invention free—A noble gift to the world—His business operations—Increase in the demand for his instruments—Death of Captain Mackay—Mr. Chickering undertakes the sole charge of his affairs—Fears of his friends—Magnitude of the business—The lawyer's question answered—The mortgages paid—Rapid success of Mr. Chickering—His varied duties—Sharp competition—A bogus Chickering—How a Boston bank lost his custom—His independence in business—His character as a merchant—Trains his sons to succeed him in business—The result of his efforts—The present house of Chickering & Sons—Destruction of the factory—Offers of aid—Mr. Chickering's kindness to his workmen—Sets to work to re-establish his business—The new factory begun—Sudden death of Mr. Chickering.

Chapter VII.

Nicholas Longworth.

The grape interest of the United States—Growing demand for American wines—Instrumentality of Mr. Longworth in producing this success—Early life of Mr. Longworth—Apprenticed to a shoemaker—Removes to South Carolina—Returns to Newark and studies law—Removes to Cincinnati—Admitted to the bar—His first case—Is paid in whisky stills, and trades them for lands which make his fortune—Rapid growth of Cincinnati—The oldest native inhabitant of Chicago—Longworth's investments in real estate—Immense profits realized by him—His experiments in wine growing—History of the Catawba grape—Longworth decides to cultivate it entirely—His efforts to promote the grape culture in the Ohio Valley—Offers a market for all the grape juice that can be brought to him—The result of his labors seen in the Ohio vineyards of to-day—His wine cellars—Amount of wine made annually by him—The process used—How "Sparkling Catawba" is made—Longworth's experiments with strawberries—His liberality—Gift of land to the Observatory—His challenge to a grumbler—Estimate of his character—His eccentricities—His generosity to his tenants—How he made money by helping others to grow rich—His politics—How he subscribed one hundred dollars to elect Clay—His hatred of vagabondage—His stone quarry—How he provided it with laborers—His system of helping the poor—Is charged with stinginess—The "devil's poor"—Personal appearance—The "Hard-times" overcoat—Charity to a millionaire—Death of Mr. Longworth.

Chapter VIII.

George Peabody.

Birth and parentage—Early education—His first lessons in business—An apprentice in a country store—Youthful ambition—A desire for change—The visit to Post Mills—Removal to Newburyport—Reasons for his attachment to that place—His first patron—Peabody goes south—A soldier in the War of 1812-15—A young merchant—A change of prospects—A partner in the house of Riggs & Peabody—Peabody's business capacity—An irregular banker—His reputation as a business man—Promising opening of a brilliant career—Retirement of Mr. Riggs—Growth of the business—A branch house in London—Mr. Peabody saves the credit of the State of Maryland—Tribute from Edward Everett—Success in London—A model American merchant—Establishment of the house of George Peabody & Co.—The Fourth of July dinner—The exhibition of 1851—Patriotism of Mr. Peabody—How he saved the United States from humiliation—Admission of the "London Times"—Mr. Peabody's business habits—His economy—Adventure with a conductor—Finds a conscientious hackman—Personal simplicity—Visits to the United States—His munificent donations—His last visit—Returns to London and dies—Honors paid to his memory—The funeral ceremonies—His burial at Peabody—Statement of his donations and bequests—His example encouraging to the young.