Part 8

One feature of the great success of Peter Cooper was he always paid cash. But the great life-work of Peter Cooper is embellished with one gem that is perpetually bright. We speak of Cooper Union. In 1854 the ground was cleared, the plans made and the work begun. This institution cost Cooper about eight hundred thousand dollars. It is deeded as a trust, with all its rents and profits, to the instruction and profit of the poor working people of New York city. Mr. Cooper himself thus describes his motives: "The great object that I desire to accomplish by the erection of this institution is to open the avenues of scientific knowledge to the youth of our city and country, and so unfold the volume of nature that the youth may see the beauties of creation, enjoy its blessings and learn to love the Author from whom cometh every good and perfect gift." Could any sentiment be more beautiful? Could any motive be more worthy of imitation than this?

He was a Democrat and a member of Tammany Hall, but toward the latter part of his life he became a leader of the Greenback party, being a candidate for President on that ticket. He had good habits and was always occupied with business. Two children are living, Edward, and a daughter who married Mr. A. S. Hewitt. The son and son-in-law have each been mayor of their city. There was great mourning in New York city on April 4th, 1883, when it was learned that Peter Cooper was dead. But man liveth not to himself, his memory and influence will be felt by the countless generations which will follow after his death. Certain it is those who are benefited by the aid of "Cooper Union" will not forget their benefactor.

_"There is a wide difference between men, but truly it lies less in some special gift or opportunity vouchsafed to one and withheld from another,--less in that than in the differing degree in which these common elements of human power are owned and used. Not how much talent have I, but how much will to use the talent that I have, is the main question. Not how much do I know, but how much do I do with what I know?"_

[Illustration: SUCCESSFUL BANKERS AND HOW THEY EARNED SUCCESS.]

GEORGE LAW.

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.