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
There cannot be the slightest doubt that the rich, as a class, were
eager to have the Tweed regime continue. They might pose as fine
moralists and profess to instruct the poor in religion and politics, but
this attitude was a fraud; they deliberately instigated, supported, and
benefited by, all of the great strokes of thievery that Tweed and
Connolly put through. Thus to mention one of many instances, the
foremost financial and business men of the day were associated as
directors with Tweed in the Viaduct Railroad. This was a project to
build a railroad on or above the ground _on any New York City street_.
One provision of the bill granting this unprecedentedly comprehensive
franchise compelled the city to take $5,000,000 of stock; another
exempted the company property from taxes or assessments. Other
subsidiary bills allowed for the benefit of the railroad the widening
and grading of streets which meant a "job" costing from $50,000,000 to
$60,000,000.[152] This bill was passed by the Legislature and signed by
Tweed's puppet Governor Hoffman; and only the exposure of the Tweed
regime a few months later prevented the complete consummation of this
almost unparalleled steal.
Considering the fact that the richest and most influential and
respectable men were direct allies of the Tweed clique, it was not
surprising that men such as John Jacob Astor, Jr., Moses Taylor, Edward
Schell and company were willing enough to sign a testimonial certifying
to Controller Connolly's honesty. The Tweed "ring" supposed that a
testimonial signed by these men would make a great impression upon the
public. Yet, stripping away the halo which society threw about them
simply because they had wealth, these rich citizens themselves were to
be placed in even a lower category than Tweed, on the principle that the
greater the pretension, the worst in its effect upon society is the
criminal act. The Astors cheated the city out of enormous sums in real
estate and personal property taxation; Moses Taylor likewise did so, as
was clearly brought out by a Senate Investigating Committee in 1890;
Roberts had been implicated in great swindles during the Civil War; and
as for Edward Schell, he, by collusion with corrupt officials, compelled
the city to pay exorbitant sums for real estate owned by him and which
the city needed for public purposes. And further it should be pointed
out that Tweed, Connolly and Sweeny were but vulgar political thieves
who retained only a small part of their thefts. Tweed died in prison
quite poor; even the very extensive area of real estate that he bought
with stolen money vanished, one part of it going in lieu of counsel fees
to one of his lawyers, Elihu Root, United States Secretary of State
under Roosevelt.[153] Connolly fled abroad with $6,000,000 of loot and
died there, while Sweeny settled with the city for an insignificant sum.
The men who really profited directly or indirectly by the gigantic
Public-domain text, read in full here on John Shaqi.
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