Business; Capitalists and financiers -- United States; Speculation; Wall Street (New York, N.Y.)
I never can forget the impression I received on my approach to
Washington that morning. As I looked through the window of the
sleeping-car my eye was met by an entire train load of brass cannon.
There were at least a dozen platform cars, each having one of those huge
guns, all apparently in order to wheel at once against the enemy. I
shall always remember the feelings that came over me at that moment. The
question of war or no war was vividly presented to my mind, and this was
the uppermost thought during my visit at Washington.
I descended from my traveling quarters as soon as the train was
announced as having arrived at the capital, and repaired to Willard’s,
then the principal, if not, in fact, the only hotel for a traveler to go
to, and it was an old-fashioned, historic hostelry. I hastened to my
room, rapidly performed my ablutions, and then found my way into the
dingy breakfast room. On inquiry, I found that ten o’clock was the usual
hour for heads of departments, including Mr. Chase, to be at the
Treasury. At that hour I went to see him. I sent in my card and was
ushered into his presence without delay. He was a man of portly frame
and distinguished bearing, and impressed me with the feeling of being in
the presence of an individual far above the average standard of humanity
in every respect.
I informed the Secretary of my mission, with the result above stated.
About seven-eighths of the people of Washington, at that time, were
Southerners. The office-holders were largely composed of the latter, and
they were expecting to be suddenly turned out of office. This rendered
the place a boiling caldron of conspiracy and treason.
As I went around collecting information, the sight of those cannon that
at first had made such an indescribable impression upon me, continued to
haunt my vision wherever I went. The air was filled with rumors of war,
and everybody was wound up to the highest pitch of hostile excitement.
As I mingled among the people, the impression was forced upon me that
war was inevitable, and that up to the very hilt of the sword. I felt
that the contest would be long and bloody.
I sent a dispatch to my firm in New York, conveying my impressions to
that effect, and advised them to clear the decks in preparation
therefor. I urged them to lose no time in selling off all the mercantile
paper on hand, and requested them to communicate to the members of the
syndicate, which I had formed for the purchase of bonds, recommending
them to withdraw therefrom, as I was convinced that war to the knife was
imminent, and that Government bonds must have a serious fall in price in
consequence.
I saw Mr. Chase the next morning, and told him that, as I believed,
there was going to be a long and bloody war, I could not
conscientiously, in the interest of my clients, renew my bid of the
previous day.
With regard to my opinion about the probable length of the war, the
Secretary took issue with me very firmly.
Public-domain text, read in full here on John Shaqi.
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