A Unique Story of a Marvellous Career: Life of Hon. Phineas T. BarnumBenton, Joel
History
A Unique Story of a Marvellous Career: Life of Hon. Phineas T. Barnum
Benton, Joel
Barnum's American Museum; Barnum, P. T. (Phineas Taylor), 1810-1891; Circus owners -- United States -- Biography
AT HOME ONCE MORE--GROWTH OF EAST BRIDGEPORT--BARNUM'S OFFER TO
MEN WANTING HOMES OF THEIR OWN--REMARKABLE PROGRESS OF THE
PLACE--HOW THE STREETS WERE NAMED.
It was now about five years since Barnum had had a settled home.
The necessities of his business combined with the adversities of
fortune had kept him knocking about from pillar to post.
Sometimes they lived in boarding-houses, and sometimes they kept
house in temporary quarters. Mr. and Mrs. Barnum were now alone,
two of their daughters being married and the third being away at
a boarding-school. Mrs. Barnum's health was much impaired, and it
was desirable that she should have a comfortable and permanent
home. Accordingly, in 1860, Barnum built a pleasant house at
Bridgeport, next to that of his daughter Caroline and not far
from the ruins of Iranistan.
His unfortunate enterprise in the clock business had not
discouraged him from further business ventures. His pet city,
East Bridgeport, was growing rapidly. An enormous sewing-machine
factory had been built, employing a thousand workmen. Other large
factories were springing up, many private residences were being
erected, and there was a great demand for houses of all kinds,
but especially for small cottages suitable for mechanics and
other laboring men. The farm-land which Barnum had purchased only
a few years before was rapidly becoming a city.
It was characteristic of Barnum to place himself in the forefront
in this city-building movement, and in the double role of
speculator and public benefactor. The enterprise which he
undertook was calculated both to help those who were willing to
help themselves to obtain independent homes, and at the same time
to pay a handsome profit to Mr. Barnum. His scheme was described
by himself as follows in the Bridgeport Standard:
"NEW HOUSES IN EAST BRIDGEPORT.
"EVERY MAN TO OWN THE HOUSE HE LIVES IN.
"There is a demand at the present moment for two hundred more
dwelling-houses in East Bridgeport. It is evident that if the
money expended in rent can be paid towards the purchase of a
house and lot, the person so paying will in a few years own the
house he lives in, instead of always remaining a tenant. In view
of this fact, I propose to loan money at six per cent. to any
number, not exceeding fifty, industrious, temperate and
respectable individuals, who desire to build their own houses.
"They may engage their own builders, and build according to any
reasonable plan (which I may approve), or I will have it done for
them at the lowest possible rate, without a farthing profit to
myself or agent, I putting the lot at a fair price and advancing
eighty per cent. of the entire cost; the other party to furnish
twenty per cent. in labor, material, or money, and they may pay
me in small sums weekly, monthly, or quarterly, any amount not
less than three per cent. per quarter, all of which is to apply
on the money advanced until it is paid.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account