History of the Great American Fortunes, Vol. I: Conditions in Settlement and Colonial TimesMyers, Gustavus
History
History of the Great American Fortunes, Vol. I: Conditions in Settlement and Colonial Times
Myers, Gustavus
United States -- Economic conditions; Wealth -- United States
[137] Many eminent lawyers, elected or appointed to high official or
judicial office, were financially interested in corporations, and very
often profited in dubious ways. The case of Roger B. Taney, who, from
1836, was for many years, Chief Justice of the Supreme Court of the
United States, is a conspicuous example. After he was appointed United
States Secretary of the Treasury in 1833, the United States Senate
passed a resolution inquiring of him whether he were not a stockholder
in the Union Bank of Maryland, in which bank he had ordered public funds
deposited. He admitted that he was, but asserted that he had obtained
the stock before he had selected that bank as a depository of public
funds. (See Senate Docs., First Session, 23rd Congress, Vol. iii, Doc.
No. 238.) It was Taney, who as Chief Justice of the Supreme Court of the
United States, handed down the decision, in the Dred Scott case, that
negro slaves, under the United States Constitution, were not eligible to
citizenship and were without civil rights.
[138] These frauds at the polls went on, not only in every State but
even in such newly-organized Territories as New Mexico. Many facts were
brought out by contestants before committees of Congress. (See
"Contested Elections," 1834 to 1865, Second Session, 38th Congress,
1864-65, Vol. v, Doc. No. 57.) In the case of Monroe vs. Jackson, in
1848, James Monroe claimed that his opponent was illegally elected by
the votes of convicts and other non-voters brought over from Blackwell's
Island. The majority of the House Elections Committee reported favoring
Monroe's being seated. Aldermanic documents tell likewise of the same
state of affairs in New York. (See the author's "History of Tammany
Hall.") Similar practices were common in Philadelphia, Baltimore and
other cities, and in country townships.
[139] "The Wealth and Biography of the Wealthy Citizens of the City of
New York." By Moses Yale Beach.
[140] "Wealth and Biography of the Wealthy Citizens of Philadelphia." By
a Member of the Philadelphia Bar, 1845.
The misconception which often exists even among those who profess the
deepest scholarship and the most certainty of opinion as to the
development of men of great wealth was instanced by a misstatement of
Dr. Felix Adler, leader of the New York Society for Ethical Culture. In
an address on "Anti-Democratic Tendencies in American Life" delivered
some years ago, Dr. Adler asserted: "Before the Civil War there were
three millionaires; now there are 4,000." The error of this assertion is
evident.
[141] Parton's "Life of John Jacob Astor":80-81.
Public-domain text, read in full here on John Shaqi.
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