Incidents in the Early Life of Drew; and How he Began 147 to Make Money.—He Borrows Money from Henry Astor, Buys Cattle in Ohio and Drives them over the Alleghany Mountains under Great Hardship and Suffering.—His Great Career as a Steamboat Man, and his Opposition to Vanderbilt.—His Marriage and Family.—He Builds and Endows Religious and Educational Institutions.—Returns to his Old Home after his Speculative Fall, but can find No Rest so Far away from Wall Street.—His Hopes through Wm. H. Vanderbilt of another Start in Life.—His Bankruptcy, Liabilities and Wardrobe.—His Sudden but Peaceful End.—Characteristic Stories of his Eccentricities CHAPTER XVIII. PANICS.—THEIR CAUSES.—HOW FAR PREVENTABLE. Not Accidental Freaks of the Market.—We are Still a 157 Nation of Pioneers.—The Question of Panics Peculiarly American.—Violent Oscillations in Trade Owing to the Great Mass of New and Immature Undertakings.—Uncertainty about the Intrinsic Value of Properties.—Sudden Shrinkage of Railroad Properties a Fruitful Cause of Panics.—Risks and Panics Inseparable from Pioneering Enterprise.—We are Becoming Less Dependent on the Money Markets of Europe.—In Panics much Depends upon the Prudence and Self-control of the Money-Lenders.—The Law which Compels a Reserve Fund in the National Banks is at Certain Crises a Provocative of Panics.—George I. Seney.—John C. Eno.—Ferdinand Ward.—The Clearing House as a Preventive of Panics CHAPTER XIX. OLD-TIME PANICS. The Panic of 1837.—How it was Brought About.—The State 175 Banks.—How they Expanded their Loans under Government Patronage.—Speculation was Stimulated and Values Became Inflated.—President Jackson’s “Specie Circular” Precipitates the Panic.—Bank Contractions and Consequent Failures.—Mixing up Business and Politics.—A General Collapse, with Intense Suffering CHAPTER XX. THE TRUE STORY OF BLACK FRIDAY TOLD FOR THE FIRST TIME. The Great Black Friday Scheme originates in patriotic 181 motives. Advising Boutwell and Grant to sell Gold.—The part Jim Fisk played in the Speculative Drama.-“Gone where the Woodbine Twineth.”—A general state of Chaos in Wall Street.—How the Israelite Fainted.-“What ish the prish now?”—Gould the Head Centre of the Plot to “Corner” Gold.—How he Managed to Draw Ample Means from Erie.—Gould and Fisk Attempt to Manipulate President Grant and Compromise him and his Family in the Plot.—Scenes and Incidents of the Great Speculative Drama CHAPTER XXI.