Great Fortunes, and How They Were MadeMcCabe, James Dabney
History
Great Fortunes, and How They Were Made
McCabe, James Dabney
United States -- Biography
"In most, perhaps in all other countries, this exhibition had been a
government affair. Commissioners were appointed by authority to protect
the interests of the exhibitors; and, what was more important,
appropriations of money had been made to defray their expenses. No
appropriations were made by Congress. Our exhibitors arrived friendless,
some of them penniless, in the great commercial Babel of the world. They
found the portion of the Crystal Palace assigned to our country
unprepared for the specimens of art and industry which they had brought
with them; naked and unadorned by the side of the neighboring arcades
and galleries fitted up with elegance and splendor by the richest
governments in Europe. The English press began to launch its too ready
sarcasms at the sorry appearance which Brother Jonathan seemed likely to
make; and all the exhibitors from this country, as well as those who
felt an interest in their success, were disheartened. At this critical
moment, our friend stepped forward. He did what Congress should have
done. By liberal advances on his part, the American department was
fitted up; and day after day, as some new product of American ingenuity
and taste was added to the list,--McCormick's reaper, Colt's revolver,
Powers's Greek Slave, Hobbs's unpickable lock, Hoe's wonderful printing
presses, and Bond's more wonderful spring governor,---it began to be
suspected that Brother Jonathan was not quite so much of a simpleton as
had been thought. He had contributed his full share, if not to the
splendor, at least to the utilities of the exhibition. In fact, the
leading journal at London, with a magnanimity which did it honor,
admitted that England had derived more real benefit from the
contributions of the United States than from those of any other
country."
As has been said, Mr. Peabody made the bulk of his colossal fortune in
the banking business. He had a firm faith in American securities, and
dealt in them largely, and with confidence. His business instinct was
remarkable, his judgment in mercantile and financial matters almost
infallible, and he made few mistakes. His course was now onward and
upward, and each year marked an increase of his wealth. His business
operations were conducted in pursuance of a rigid system which was never
relaxed. To the very close of his life he never abandoned the exact or
business-like manner in which he sought to make money. He gave away
millions with a generosity never excelled, yet he could be exacting to a
penny in the fulfillment of a contract.
Public-domain text, read in full here on John Shaqi.
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