Business; Capitalists and financiers -- United States; Speculation; Wall Street (New York, N.Y.)
Jay Gould, with all the resources of science at his disposal, and all
the talent that money could command, with newspapers, politicians,
lawyers, judges, and courts at his will, with as good a start,
financially dating from 1878, as Wm. H. Vanderbilt had, has been left
far behind in the race for wealth, and for the highest prize ever gained
by one man in any nation. It has been truly said that a fool can make
money, but it takes a wise man to keep it. Wm. H. Vanderbilt’s financial
wisdom, as well as his ability, was signally displayed in keeping this
great fortune intact, besides adding fully three times as much more to
it; and it proves that his father made no mistake in selecting him to
hand his name and fortune down to posterity. This immense pile of
“filthy lucre,” however, in spite of all the credit that is justly due
to its late manager, has had one serious drawback from a public
standpoint. In fact, the very announcement of this mammoth fortune in
the newspapers, at the time of Mr. Wm. H. Vanderbilt’s death, had a most
demoralizing effect upon a large number of the wealthy portion of the
community, who began to feel that they were nonentities in comparison.
In making this statement I absolve the Vanderbilt family from any blame.
Every man in this great Republic has the privilege of walking in the
footsteps of the two great Vanderbilts if he only has the ability; but
it would not be wisdom for a large number of men to attempt it. They
would be pretty certain to “get left.”
Public-domain text, read in full here on John Shaqi.
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