The Wizard of Wall Street and His Wealth; or, The Life and Deeds of Jay GouldWhite, Trumbull
History
The Wizard of Wall Street and His Wealth; or, The Life and Deeds of Jay Gould
White, Trumbull
Businessmen -- United States -- Biography; Capitalists and financiers -- United States -- Biography; Gould, Jay, 1836-1892
The Erie people needed a first-class representative at Albany to
watch their interests before the legislature. Gould was selected as
the fittest man to act in the capacity of a lobbyist. First giving
out that he was going to Ohio, Gould quietly slipped up to Albany,
with five hundred thousand dollars of Erie cash in his pocket. Here
in a day or two he was arrested, but released on five hundred dollars
bail to appear in a New York court on Saturday. He appeared on that
day, but his attorneys secured a postponement, and he was allowed to
return to Albany in charge of an undersheriff. Arriving in Albany Mr.
Gould was conveniently taken sick, and unable to return to New York
to attend the court proceedings, though he drove to the capitol in a
snowstorm. The officer reported him to the court as a “runaway,” but
the matter was afterward settled, and, in the language of Mr. Adams,
he “assiduously cultivated a thorough understanding between himself
and the legislature.” In this he was materially aided by the cash with
which his pockets were so liberally filled. Corruption ran high. One
senator was recorded to have accepted seventy-five thousand dollars
from one side and one hundred thousand dollars from the other. One man
was paid five thousand dollars by Gould “just,” as Mr. Gould remarked,
“to smooth him over.” The corruption at this session was investigated
by a legislative committee in 1869. Gould was a witness, but he
endeavored to conceal the facts as much as possible. In the famous Erie
investigation of 1873, however, Mr. Gould testified as follows:
Public-domain text, read in full here on John Shaqi.
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