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
Mr. Astor replied by inviting him to dinner. During the repast the old
man was full of anecdote and reminiscence of the years when himself and
Peter Smith camped out on the Oswego River, and went about with packs on
their backs buying furs. When the cloth was removed the terrible topic
was introduced, and the guest explained his situation once more.
"How much do you need?" inquired Astor.
"In all, I must have two hundred and fifty thousand dollars."
"Do you want the whole of it at once?" asked the millionaire.
"I do," was the reply.
Astor looked serious for a moment, and then said:--
"You shall have it."
The guest engaged to forward a mortgage on some lands along the Oswego
River, and a few days after, before the mortgage was ready, the old man
sent his check for the two hundred and fifty thousand dollars. Through
the neglect of a clerk the mortgage papers were not sent for some weeks
after, so that Mr. Astor had parted with this great sum upon no other
security than a young man's word. But John Jacob Astor was a good judge
of men, as well as of land.
Thus relieved, Gerrit Smith pursued his career without embarrassment,
and in about twenty years paid off all his debts, and had then a revenue
ranging from fifty to a hundred thousand dollars a year. He gave away
money continuously, from thirty thousand to a hundred thousand dollars a
year, in large sums and in small sums, to the deserving and the
undeserving. Of course, he was inundated with begging letters. Every
mail brought requests for help to redeem farms, to send children to
school, to buy a piano, to buy an alpaca dress with the trimmings, to
relieve sufferers by fire, and to pay election expenses.
"The small checks," Mr. Frothingham tells us, "flew about in all
directions, carrying, in the aggregate, thousands of dollars, hundreds
of which fell on sandy or gravelly soil, and produced nothing."
He gave, in fact, to every project which promised to relieve human
distress, or promote human happiness. He used to have checks ready drawn
to various amounts, only requiring to be signed and supplied with the
name of the applicant. On one occasion he gave fifty dollars each to all
the old maids and widows he could get knowledge of in the State of New
York--six hundred of them in all. He gave away nearly three thousand
small farms, from fifteen to seventy-five acres each, most of them to
landless colored men.
"For years," said he, "I have indulged the thought that when I had sold
enough land to pay my debts, I would give away the remainder to the
poor. I am an Agrarian. I would that every man who desires a farm might
have one, and no man covet the possession of more farms than one."
Public-domain text, read in full here on John Shaqi.
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