Struggles and Triumphs: or, Forty Years' Recollections of P. T. BarnumBarnum, P. T. (Phineas Taylor)
General
Struggles and Triumphs: or, Forty Years' Recollections of P. T. Barnum
Barnum, P. T. (Phineas Taylor)
Barnum, P. T. (Phineas Taylor), 1810-1891; Circus owners -- United States -- Biography
This “cheerful and elegant piece of ground,” as Dr. Dwight so truly
describes it, had only been kept from market by the want of means of
access. A new foot-bridge was built, connecting this place with the City
of Bridgeport, and a public toll-bridge which belonged to us was thrown
open to the public free. We also obtained from the State Legislature a
charter for erecting a toll-bridge between the two bridges already
existing, and under that charter we put up a fine covered draw-bridge at
a cost of $16,000 which also we made free to the public for several
years. We built and leased to a union company of young coach makers a
large and elegant coach manufactory, which was one of the first
buildings erected there, and which went into operation on the first of
January, 1852, and was the beginning of the extensive manufactories
which were subsequently built in East Bridgeport.
Besides the inducement which we held out to purchasers to obtain their
lots at a merely nominal price, we advanced one half, two-thirds, and
frequently all the funds necessary to erect their buildings, permitting
them to repay us in sums as small as five dollars, at their own
convenience. This arrangement enabled many persons to secure and
ultimately pay for homes which they could not otherwise have obtained.
We looked for our profits solely to the rise in the value of the
reserved lots, which we were confident must ensue. Of course, these
extraordinary inducements led many persons to build in the new city, and
it began to develop and increase with a rapidity rarely witnessed in
this section of the country. Indeed, our speculation, which might be
termed a profitable philanthropy, soon promised to be so remunerative,
that I offered Mr. Noble for his interest in the estate, $60,000 more
than the prime cost, which offer he declined.
It will thus be seen that, in 1851, my pet scheme was to build up a city
in East Bridgeport. I had made a large fortune and was anxious to be
released from the harassing cares of active business. But I could not be
idle, and if I could be instrumental in giving value to land
comparatively worthless; if I could by the judicious investment of a
portion of my capital open the way for new industries and new homes, I
should be of service to my fellow men and find grateful employment for
my energies and time. I saw that in case of success there was profit in
my project, and I was enough like mankind in general to look upon the
enlargement of my means as a consummation devoutly and legitimately to
be wished.
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