My Memories of Eighty YearsDepew, Chauncey M. (Chauncey Mitchell)
History
My Memories of Eighty Years
Depew, Chauncey M. (Chauncey Mitchell)
Biography; Depew, Chauncey M. (Chauncey Mitchell), 1834-1928; United States -- History -- 1865-1921
As Mr. Sage's wealth increased, the generous and public-spirited
impulses which were his underlying characteristics, became entirely
obscured by the craze for accumulation. His wife, to whom he was
devotedly attached, was, fortunately for him, one of the most
generous, philanthropic, and open-minded of women. She was most
loyal to the Emma Willard School at Troy, N. Y., from which she
graduated. Mrs. Sage wrote me a note at one time, saying: "Mr. Sage
has promised to build and give to the Willard School a building
which will cost one hundred and fifty thousand dollars, and he
wants you to deliver the address at the laying of the corner-stone."
I wrote back that I was so overwhelmed with business that it was
impossible for me to accept. She replied: "Russell vows he will
not give a dollar unless you promise to deliver the address. This
is the first effort in his life at liberal giving. Don't you
think he ought to be encouraged?" I immediately accepted.
Mrs. Sage was a Mayflower descendant. At one of the anniversaries
of the society she invited me to be her guest and to make a speech.
She had quite a large company at her table. When the champagne
corks began to explode all around us, she asked what I thought she
ought to do. I answered: "As the rest are doing." Mr. Sage
vigorously protested that it was a useless and wasteful expense.
However, Mrs. Sage gave the order, and Mr. Sage and two objecting
gentlemen at the table were the most liberal participants of her
hospitality. The inspiration of the phizz brought Sage to his
feet, though not on the programme. He talked until the committee
of arrangements succeeded in persuading him that the company
was entirely satisfied.
Jay Gould told me a story of Sage. The market had gone against
him and left him under great obligations. The shock sent Sage
to bed, and he declared that he was ruined. Mr. Gould and
Mr. Cyrus W. Field became alarmed for his life and went to see
him. They found him broken-hearted and in a serious condition.
Gould said to him: "Sage, I will assume all your obligations and
give you so many millions of dollars if you will transfer to me
the cash you have in banks, trust, and safe-deposit companies,
and you keep all your securities and all your real estate." The
proposition proved to be the shock necessary to counteract Sage's
panic and save his life. He shouted, "I won't do it!" jumped out
of bed, met all his obligations and turned defeat into a victory.
Sage could not personally give away his fortune, so he left it
all, without reservations, to his wife. The world is better and
happier by her wise distribution of his accumulations.
One of Mr. Sage's lawyers was an intimate friend of mine, and he
told me this story. Sage had been persuaded by his fellow directors
in the Western Union Telegraph Company to make a will. As he was
attorney for the company, Sage came to him to draw it.
Public-domain text, read in full here on John Shaqi.
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