Part 9

_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.

[Illustration: SELF-RELIANCE. Engraved Expressly for 'Hidden Treasures.']

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."_

[Illustration: From Obscurity To Great Honor.]

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.