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
was held up to all the country as an illuminating and imperishable
example of the fortune that thrift, enterprise, perseverance, and
ability would bring.
FOOTNOTES:
[143] Matthew Hale Smith in "Sunshine and Shadow in New York," 186-187.
[144] See Part III of this work, "The Great Railroad Fortunes".
[145] See Part III, Chapters iv, v, vi, etc.
[146] Proceedings of the [New York City] Commissioners of the Sinking
Fund, 1844-1865:213.
[147] Doc. No. 46, Documents of the [New York City] Board of Aldermen,
xxi, Part II.
[148] Proceedings of the [New York City] Commissioners of the Sinking
Fund, 1844-1865:734.
[149] Ibid:865.
[150] Proceedings of the [New York City] Sinking Fund Commission,
1882:2020-2023.
[151] Documents of the [New York City] Board of Aldermen, 1877, Part II.
No. 8.
[152] New York Senate Journal, 1871:482-83.
[153] See Exhibits Doc. No. 8, Documents of the [New York City] Board of
Aldermen, 1877.
[154] For a full account of the operations of the Tweed regime see the
author's "History of Tammany Hall."
[155] Report of the Metropolitan Board of Health for 1866, Appendix
A:38.
[156] "America's Successful Men of Affairs":36.
[157] "No church disdained his gifts." The morals and methods of the
church, as exemplified by Trinity Church, were, judged by standards,
much worse than those of Astor or of his fellow-landlords or
capitalists. These latter did not make a profession of hypocrisy, at any
rate. The condition of the tenements owned by Trinity Church was as
shocking as could be found anywhere in New York City. We subjoin the
testimony given by George C. Booth of the Society for the Improvement of
the Condition of the Poor before a Senate Investigating Committee in
1885:
Senator Plunkett: Ask him if there is not a great deal of church
influence [in politics].
The Witness: Yes, sir, there is Trinity Church.
Q.: Which is the good, and which is the bad?
A.: I think Trinity is the bad.
Q.: Do the Trinity people own a great deal of tenement property?
A.: Yes, sir.
Q.: Do they comply with the law as other people do?
A.: No, sir; that is accounted for in one way--the property is
very old and rickety, and perhaps even rotten, so that some
allowance must be made on that account.
(Investigation of the Departments of the City of New York, by Special
Committee of the [New York] Senate, 1885, 1:193-194.)
CHAPTER VII
THE CLIMAX OF THE ASTOR FORTUNE
The impressive fortune that William B. Astor left was mainly bequeathed
in about equal parts to his sons John Jacob II. and William. These
scions, by inheritance from various family sources, intermarriage with
other rich families, or both, were already rich. Furthermore, having the
backing of their father's immense riches, they had enjoyed singularly
exceptional opportunities for amassing wealth on their own account.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account