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
An investigating committee appointed by the Pennsylvania Legislature in
1840, reported that during a series of years the Bank of the United
States (or United States Bank, as it was more often referred to) had
corruptly expended $130,000 in Pennsylvania for a re-charter.--Pa. House
Journal, 1842, Vol. II, Appendix, 172-531.
[65] In providing for the establishment of Girard College, Girard stated
in his will: "I enjoin and require that no ecclesiastic, missionary, or
minister of any sect whatsoever, shall ever hold or exercise any station
or duty whatsoever in the said college; nor shall any such person be
admitted for any purpose, or as a visitor within the premises
appropriated to the purposes of said college."--The Will of the Late
Stephen Girard, Esq., 1848:22-23.
An attempt was made by his relatives in France to break his will, one of
the grounds being that the provisions of his will were in conflict with
the Christian religion which was a part of the common law of
Pennsylvania. The attempt failed.
[66] For example, an address by Edward Everett, at the Odeon, before the
Mercantile Library Association in Boston, September 13, 1838: "Few
persons, I believe, enjoyed less personal popularity in the community in
which he lived and to which he bequeathed his personal fortune.... A
citizen and a patriot he lived in his modest dwelling and plain garb;
appropriating to his last personal wants the smallest pittance from his
princely income; living to the last in the dark and narrow street in
which he made his fortune; and when he died bequeathed it for the
education of orphan children. For the public I do not believe he could
have done better," etc., etc.--Hunt's "Merchant's Magazine," 1830, 1:35.
[67] "The Public Charities of Philadelphia."
PART II
THE GREAT LAND FORTUNES
[Illustration: GEN. STEPHEN VAN RENSSLAER.
The Last of the Patroons.
(From an Engraving.)]
CHAPTER I
THE ORIGIN OF HUGE CITY ESTATES
In point of succession and importance the next great fortunes came from
ownership of land in the cities. They far preceded fortunes from
established industries or from the control of modern methods of
transportation. Long before Vanderbilt and other of his contemporaries
had plucked immense fortunes from steamboat, railroad and street railway
enterprises, the Astor, Goelet, and Longworth fortunes were counted in
the millions. In the seventy years from 1800 the landowners were the
conspicuous fortune possessors; and, although fortunes of millions were
extracted from various other lines of business, the land fortunes were
preeminent.
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