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
"Thousands of our laboring people travel hundreds of miles in
quest of employment on canals at 62-1/2 cents to 87-1/2 cents per
day, paying $1.50 to $2.00 a week for board, leaving families
behind depending upon them for support. They labor frequently in
marshy grounds, where they inhale pestiferous miasmata, which
destroy their health, often irrevocably. They return to their poor
families broken hearted, and with ruined constitutions, with a
sorry pittance, most laboriously earned, and take to their beds,
sick and unable to work. Hundreds are swept off annually, many of
them leaving numerous and helpless families. Notwithstanding their
wretched fate, their places are quickly supplied by others,
although death stares them in the face. Hundreds are most
laboriously employed on turnpikes, working from morning to night
at from half a dollar to three-quarters a day, exposed to the
broiling sun in summer and all the inclemency of our severe
winters. There is always a redundancy of wood-pilers in our
cities, whose wages are so low that their utmost efforts do not
enable them to earn more than from thirty-five to fifty cents per
day.... Finally there is no employment whatever, how disagreeable
or loathsome, or deleterious soever it may be, or however reduced
the wages, that does not find persons willing to follow it rather
than beg or steal."
FOOTNOTES:
[61] "Kings of Fortune":16--The pretentious title and sub-title of this
work, written thirty odd years ago by Walter R. Houghton, A.M., gives an
idea of the fantastic exaltation indulged in of the careers of men of
great wealth. Hearken to the full title: "Kings of Fortune--or the
Triumphs and Achievements of Noble, Self-made men.--Whose brilliant
careers have honored their calling, blessed humanity, and whose lives
furnish instruction for the young, entertainment for the old and
valuable lessons for the aspirants of fortune." Could any fulsome
effusion possibly surpass this?
[62] "Mr. Girard's bank was a financial success from the beginning. A
few months after it opened for business its capital was increased to one
million three hundred thousand dollars. One of the incidents which
helped, at the outstart, to inspire the public with confidence in the
stability of the new institution was the fact that the trustees who
liquidated the affairs of the old Bank of the United States opened an
account in Girard's Bank, and deposited in its vaults some millions of
dollars in specie belonging to the old bank."--"The History of the
Girard National Bank of Philadelphia," by Josiah Granville Leach, LL.B.,
1902. This eulogistic work contains only the scantiest details of
Girard's career.
[63] The First Session of the Twenty-second Congress, 1831, iv,
containing reports from Nos. 460 to 463.
[64] Ibid.
Public-domain text, read in full here on John Shaqi.
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