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 education which Jay Gould acquired through his own energies as
a youth, found its best application in this work of development. In
his purely speculative adventures he was aided by a disposition whose
traits, as has already been intimated, were formed in his youth or
early manhood. It is impossible to contemplate without astonishment
and even admiration, the spectacle of so stable a character as one
must admit Mr. Gould’s to have been, fixed in boyhood and remaining
unchanged all through a career which extended from a condition of the
most modest kind (not to call it absolute poverty) to a position from
which practically he ruled the financial world of this continent and
materially affected the fortunes of the other. With untold wealth at
his command, he was as simple in tastes, as unaffected in manner,
as abstemious in habits, as industrious, as self-dependent and
self-reliant, as when he set out in boyhood to make himself a rich
man. Nor did any of his less amiable characteristics undergo a less
change. In some of his first business ventures, can be read the same
disposition for silent intrigue, the same secretiveness touching his
intentions, the same subtlety and elaborateness of plan, and the same
indifference to the feelings or comments of others, as marked the
tremendous operations which are the climaxes of his purely speculative
career--the war over Erie and the gold operations which culminated in
that memorable and deplorable day which is written in history as “Black
Friday.”
There was, perhaps, never a time in Jay Gould’s career when it was
possible to estimate his wealth with anything approaching correctness.
His secretive disposition stood in the way of a general acquaintance
with the outcome of his many ventures. Long after he had gained
control of the Wabash system of Railways, the Manhattan Elevated
and the Western Union Telegraph Company, during a little flurry in
Wall street, in which everybody thought the finger of Jay Gould was
hidden, but nobody knew, a broker sagely observed, “Mr. Gould has many
properties, but a brass band is not one of them.” He never went forth
trumpeting his affairs. Moreover, his wealth always consisted of stocks
and bonds which were subject to the fluctuations of the market, and
which unquestionably derived a considerable proportion of their value
from the fact that he controlled the property which they represented.
Once, however, he put aside his natural secrecy and made an exhibition
of his wealth in order to quiet some annoying reports that were current
touching his financial condition. This was in March, 1882, when he
spread the contents of his strong box before his astonished visitors.
Public-domain text, read in full here on John Shaqi.
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