Homes of American Statesmen; With Anecdotical, Personal, and Descriptive SketchesVarious
History
Homes of American Statesmen; With Anecdotical, Personal, and Descriptive Sketches
Various
Historic buildings -- United States; Statesmen -- United States; United States -- Biography
Thomas Hancock, the uncle, died in 1764, leaving behind him a fortune
amassed by his judicious and successful mercantile enterprises, of not
less than $350,000, one of the largest ever acquired in Boston, up to
that time, though small in comparison with several of the present day,
when even ten times as much may be produced by combined good fortune,
tact, and perseverance. Thomas Hancock bestowed by his will some
considerable legacies for charitable purposes, among others a thousand
pounds to Harvard College to endow a professorship of oriental
languages, being thus, as the historian of the college assures us, the
first native American to endow a professorship in any literary
institution;--but the great bulk of his fortune he bequeathed to his
favorite nephew, $250,000 at once, and a reversionary interest in
$100,000 more, of which his widow was to enjoy the use during her life.
Thus in 1764, at the early age of twenty-seven, and just upon the eve of
the commencement of the revolutionary disputes with the mother country,
John Hancock came into possession of one of the largest fortunes in the
province.
Yet, though this large estate was an instrument and a stepping-stone,
without the help of which Hancock would never have attained to that
social and political distinction which he coveted and enjoyed so much,
yet without his rare personal gifts and accomplishments it would have
been wholly unavailing to that end; and so far from qualifying him,
would have disqualified him, as it did so many other of the rich men of
that time, for playing the conspicuous part he did in political affairs.
Though for some time after his uncle's death he continued in business as
a merchant, there were others who knew much better than he how to
increase estates, already in the popular estimate--especially
considering the use made of them--quite too large. Indeed, his business
operations do not seem to have had mainly or primarily in view the
making of money; for though he started new enterprises, going largely
into ship-building, it was rather, at least so Hutchinson insinuates, as
a politician than as a capitalist, looking more to the number of people
he employed, and the increase thereby of his influence and popularity,
than to the enlargement of his already plentiful fortune. There were
others also who knew much better than he how to keep what they had, at
least as they thought, men who used no less economy in spending their
money than they or their fathers had done in acquiring it. But although
the rich man who keeps his capital entire, and even increasing, is, in
some sense, certainly a public benefactor, yet the fountain that
overflows, sending forth a copious stream which the thirsty passers-by
are all free to drink from, or at least to look at, is always more
joyfully seen and more pleasingly remembered--even though it does run
the risk of some time running dry--than the deep well, whose water is
Public-domain text, read in full here on John Shaqi.
Homes of American Statesmen; With Anecdotical, Personal, and Descriptive Sketches — John Shaqi
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