Captains of Industry; or, Men of Business Who Did Something Besides Making MoneyParton, James
History
Captains of Industry; or, Men of Business Who Did Something Besides Making Money
Parton, James
Industrial arts -- Biography
He was indeed an interesting character. Without his enormous wealth he
would have been, perhaps, a benevolent, enterprising farmer, who would
have lived beloved and died lamented by all who knew him. But his wealth
made him remarkable; for the possession of wealth usually renders a man
steady-going and conservative. It is like ballast to a ship. The slow
and difficult process by which honest wealth is usually acquired is
pretty sure to "take the nonsense out of a man," and give to all his
enterprises a practicable character. But here was a man whose wealth was
more like the gas to a balloon than ballast to a ship; and he flung it
around with an ignorance of human nature most astonishing in a person so
able and intelligent. There was room in the world for one Gerrit Smith,
but not for two. If we had many such, benevolence itself would be
brought into odium, and we should reserve all our admiration for the
close-fisted.
His ancestors were Dutchmen, long settled in Rockland County, New York.
Gerrit's father owned the farm upon which Major Andre was executed, and
might even have witnessed the tragedy, since he was twelve years old at
the time. Peter Smith was his name, and he had a touch of genius in his
composition, just enough to disturb and injure his life. At sixteen this
Peter Smith was a merchant's clerk in New York, with such a love of the
stage that he performed minor parts at the old Park theatre, and it is
said could have made a good actor. He was a sensitive youth, easily
moved to tears, and exceedingly susceptible to religious impressions.
While he was still a young man he went into the fur business with John
Jacob Astor, and tramped all over western and northern New York, buying
furs from the Indians, and becoming intimately acquainted with that
magnificent domain. The country bordering upon Lake Ontario abounded in
fur-bearing animals at that period, and both the partners foretold
Rochester, Oswego, and the other lake ports, before any white man had
built a log hut on their site.
Astor invested his profits in city lots, but Peter Smith bought great
tracts of land in northern and western New York. He sometimes bought
townships at a single purchase, and when he died he owned in the State
not far from a million acres. His prosperity, however, was of little
advantage to him, for as he advanced in life a kind of religious gloom
gained possession of him. He went about distributing tracts, and became
at length so much impaired in his disposition that his wife could not
live with him; finally, he withdrew from business and active life, made
over the bulk of his property to his son, Gerrit, and, settling in
Schenectady, passed a lonely and melancholy old age.
Public-domain text, read in full here on John Shaqi.
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