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
Longworth had been born in Newark, N. J., in 1782, and at the age of
twenty-one had migrated to Cincinnati, then a mere outpost, with a
population of eight hundred sundry adventurers. There he studied law and
was admitted to practice. The story of how Longworth became a landowner
is given by Houghton as follows: His first client was a man accused of
horse stealing. In those frontier days, a horse represented one of the
most valuable forms of property; and, as under a system wherein human
life was inconsequential compared to the preservation of property, the
penalty for stealing a horse was usually death. No term of reproach was
more invested with cutting contempt and cruel hatred than that of a
horse thief. The case looked black. But Longworth somehow contrived to
get the accused off with acquittal. The man--so the story further
runs--had no money to pay Longworth's fee and no property except two
second-hand copper stills. These also were high in the appraisement of
property values, for they could be used to make whisky, and whisky could
be in turn used to debauch the Indian tribes and swindle them of furs
and land. These stills Longworth took and traded them off to Joel
Williams, a tavern-keeper who was setting up a distillery. In exchange,
Longworth received thirty-three acres of what was then considered
unpromising land in the town.[167] From time to time he bought more land
with the money made in law; this land lay on what were then the
outskirts of the place. Some of the lots cost him but ten dollars each.
As immigration swarmed West and Cincinnati grew, his land consequently
took on enhanced value. By 1830 the population was 24,831; twenty years
later it had reached 118,761, and in 1860, 171,293 inhabitants. For a
Western city this was a very considerable population for the period. The
growth of the city kept on increasingly. His land lay in the very center
of the expanding city, in the busiest part of the business section and
in the best portion of the residential districts. Indeed, so rapidly did
its value grow soon after he got it, that it was no longer necessary for
him to practice law or in any wise crook to others. In 1819 he gave up
law, and thenceforth gave his entire attention to managing his property.
An extensive vineyard, which he laid out in Ohio, added to his wealth.
Here he cultivated the Catawba grape and produced about 150,000 bottles
a year.
All available accounts agree in describing him as merciless. He
foreclosed mortgages with pitiless promptitude, and his adroit knowledge
of the law, approaching if not reaching, that of an unscrupulous
pettifogger, enabled him to get the upper hand in every transaction. His
personal habits were considered repulsive by the conventional and
fastidious. "He was dry and caustic in his remarks," says Houghton, "and
very rarely spared the object of his satire. He was plain and careless
in his dress, looking more a beggar than a millionaire."
HIS VAGARIES--SO CALLED.
Public-domain text, read in full here on John Shaqi.
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