He, however, had gained not only worldly success, but true success, for when he died in 1869, both of the great English speaking nations united to do him honor. He was at first laid in Westminister Abbey among the dead kings and queens. After this her Majesty's ship Monarch bore his remains to America to be buried in Danvers. The respect in which he is held by the people of that town is shown when we know that they have since changed the name of their town to Peabody. He left an imperishable crown containing pearls which cannot be stolen. They are set in homes for the poor, libraries for every one, schools for the young, and other securities which are safely stored in the hearts of a grateful people.
Ah! we are thoughtful after reading the life of such a man.
WILLIAM W. CORCORAN.
The veteran philanthropist, William W. Corcoran, was born in 1798. He began his business career in Georgetown, but for many years he has been a resident of Washington. At twenty he went into business for himself, beginning as an auctioneer. After several years of successful business he was obliged to suspend, during the depressed times of 1838.
After this he was married to the beautiful daughter of Commodore Morris, of the United States Navy, much to the disgust of that gentleman, who little dreamed what an illustrious son-in-law Mr. Corcoran was destined to become. Some years of hard struggle followed, but at last it was found that he had won for himself a somewhat extended reputation as a financier, which gained for him a partnership with the successful banker, Riggs. This firm began to deal in United States Government securities, which were then at a low ebb abroad. Being a boy friend of George Peabody, the great London banker, his firm was enabled to materially aid the Government in its financial straits during the Mexican war. As the firm prospered, Mr. Corcoran became wealthy, and this money he laid out in Washington real estate, the rapid rise of which made him a millionaire. As Mr. Corcoran prospered he began to think of those old debts. When he had failed he secured favorable terms with his creditors, and legally was not bound for one cent, but he recognized a higher obligation than law made by man: hunting up all those old customers, creditors of his, he paid them not only the principal, but the interest that had been accumulating all these years.
By this one act we gain a glimpse of the inner heart and impulses of this great and good man.
Thousands of dollars found their way into the hands of charity, but then his desire to aid and gratify humanity was not satisfied.
On May 10th, 1869, the grounds and institution for the Corcoran Art Gallery was deeded to trustees, and later was incorporated by Congress, being exempted forever from taxation. The gallery is situated directly opposite the State, War, and Navy buildings. It has a frontage of one hundred and six feet; is built of fine, pressed brick; and is one of the most attractive buildings in the whole City of Washington. The whole building cost $250,000, and the donor placed therein his own private collection of paintings and statuary, valued at $100,000. Not satisfied with this he has added an endowment fund of $500,000. Many rare and beautiful works of art have been purchased abroad, as well as American works of rare value. Tuesdays, Thursdays, and Saturdays the gallery is free; on alternate days an admission of twenty-five cents is charged.
When it is considered how many there are who would naturally take advantage of the free days, and then that the annual income is over $75,000, one can form some idea of the attractiveness of this institution. Mr. Corcoran's desire was to elevate the American taste in the finer arts, and the thousands of visitors which the institution attracts, indicates to what an extent he has succeeded. The lower floor is devoted to statues and to the exhibition of sculpture. The second floor is occupied by several hundred rare and costly paintings, representing the advance of art during the past centuries. The gallery is, probably, all things considered, the finest of the kind in the country.
Another institution of wide celebrity is the Louisa Home, founded by Mr.
Corcoran in 1871. It is a magnificent building, conspicuously situated in the most fashionable part of the city, the West End. This is a most worthy institution, designed for ladies who have been reduced from affluence to poverty, affording them a home where they can mingle with a class of people congenial to their refined natures. This building is a beautiful brick structure, four stories high, erected at a cost of $200,000. Visitors are welcome every afternoon.
These are only two of the many gifts and enterprises which originated with the venerable banker. George Peabody and William Corcoran were boys together; how similar their lives have been. Would that there were more Corcorans, more Peabodys. Mr. Corcoran has given several millions to charity and art; how we envy him--not for his wealth, but his reputation, or better, would that we could do as much good in the world as did these two great men.
NATHAN MAYER ROTHSCHILD.
Who indeed is there who has not heard of the Rothschilds? But how few there are who know much of them save that they are the richest bankers in the whole world. The subject of this sketch was the richest and most noted of five brothers. The father, Mayer Anselm Rothschild, sprung from a poor Jewish family, and was a clerk in Hanover before establishing himself at Frankfort. At Hanover it is claimed that his integrity and ability became so marked in every position to which he was called that the attention of the Government was called thereto.
After the great French victory of Jena, Napoleon decreed that the Governor of Hesse-Cassel should have his lands and property confiscated.
The order was no sooner given than a French army was on its way to carry the edict into effect. The Elector William, before his flight from Hesse-Cassel, deposited with the father of the subject of this sketch $5,000,000, without interest, for safe keeping. There was no luck about this; it was a most difficult undertaking at that time. Any one who had been found with this money would have lost his life. For Rothschild to invest it so that he could make money from its use was his object; to do so safely and secretly required a good business tact. The Elector, it is said, studied sometime before he decided to whom he could intrust this vast sum during his absence. Thus it is seen that as Rothschild came of poor parents, and was simply a clerk. It was not so much luck in his case as strict integrity and the determination he manifested to master everything he undertook. This Rothschild had five sons, and by the aid of these, through different bankers, he succeeded by good management to lay a foundation upon which has been built that colossal fortune which the sons have accumulated. This money, belonging to the Elector, they had the benefit of until 1828, when the whole was paid over to the heirs of the original owner with two per cent. interest for a portion of the time. Of the five brothers, Anselm was situated at Frankfort, Solomon at Vienna, Charles at Naples, James at Paris, and Nathan at London. The two ablest financiers were James and Nathan, and of these two Nathan was the superior. His son was the first Jew that ever sat in the English Parliament. It has been said that the fundamental rule of this great banking-house was "To sell when people desired to buy, and buy when people wished to sell." It is related of Nathan Mayer Rothschild that, all day long, at the battle of Waterloo, he hung about the skirts of the two armies, waiting to see how the battle turned. Toward night of that memorable day, the clouds of smoke lifting, revealed the French army in full and disastrous retreat. Rothschild took in the situation at once.
True to his instincts, he saw in that awful carnage only the shimmer of his gold. Chance had overcome the most heroic valor, the most stubborn resistance, the best laid plans, and once more declared in the Hebrew's favor. He dashed into Brussels, whence a carriage in waiting whirled him into Ostend. At dawn he stood on the Belgian coast, against which the sea was madly breaking. He offered five, six, eight, ten hundred francs to be carried over to England. The mariners feared the storm; but a bolder fisherman, upon promise of twenty-five hundred francs, undertook the hazardous voyage. Before sunset Rothschild landed at Dover; and engaging the swiftest horses, rode with the wind to London. What a superb special correspondent he would have made! The merchants and bankers were dejected; the funds were depressed; a dense fog hung over the city; English spirits had sunk to their lowest ebb. On the morning of the 20th, the cunning and grasping Nathan appeared at the Stock Exchange, an embodiment of gloom. He mentioned, confidentially, of course, to his familiar that Blucher, at the head of his vast army of veterans, had been defeated by Napoleon, at Ligny, on the 16th and 17th, and there could be no hope for Wellington, with his comparatively small and undisciplined force. This was half true, and like all half-truths, was particularly calculated to deceive. Rothschild was a leader among trading reynards. His doleful whisper spread as the plague--poisoning faith everywhere. The funds tumbled like an aerolite. Public and private opinion wilted before the simoon of calamitous report. It was 'Black Friday' anticipated in Lombard Street. The crafty Israelite bought, through his secret agents, all the consols, bills, and notes, for which he could raise money.
Not before the afternoon of the 21st--nearly forty eight hours after the battle--did the news of Wellington's victory reach London through the regular channels. Rothschild was at the Exchange half an hour before the glad tidings were made public, and imparted them to a crowd of greedy listeners. The Bourse was buoyant. Everything went up more rapidly than it had gone down. England was happy--as well she might be--for she had stumbled into the greatest triumph in her history. When bankers and merchants shook hands with the Hebrew speculator, they noticed--though they did not understand--an unusual warmth of pressure. It was not rejoicing with the nation; it was the imaginary clutch of six millions more of gold. Thus it is seen that the great wealth of the Rothschild was not always used to the best advantage of mankind as a Christian would argue; but a promise given by a Rothschild was as good as his note.
Their immense wealth has greatly aided, at different times, all and singular, the various European countries. A favorite investment with them has been loans to the different Governments throughout the world.
During twelve years of their business experience they loaned to different European Monarchies over $400,000,000. When it is considered that this was but one division of their business, something of an idea of its magnitude can be imagined. An amusing story is told of Nathan which will be of interest to some of our readers, and enable them to see how fertile was his mind in emergencies.
Anselm, the brother at Frankfort, drew on Nathan, of London, for a large amount, and the bill was presented to the Bank of England to be discounted. The bank officials refused, saying, "We do not discount bills drawn on private persons; we recognize only our own paper."
"Private persons!" exclaimed Nathan Rothschild when the interview was reported to him, "I will show them what kind of private persons we are."
Three weeks afterwards, Nathan Rothschild,--who had employed the interval in collecting all the five-pound notes he could buy on the continent, or in England--presented himself at the bank on the opening of the office. He drew from his pocket-book a five-pound note, and they counted him out in exchange five gold sovereigns, at the same time looking quite astonished that the Baron Rothschild should have personally troubled himself for such a trifle. The Baron examined the pieces one by one, and having put them in a little canvas bag, proceeded to draw out another five-pound note, then another, and another and so on. He never put the pieces of gold into the bag without scrupulously examining them, in some instances weighing in his balance, as, he said, "the law gave him the right to do." The first pocket-book being emptied and the first bag full of coins, he passed them to his clerk, and received a second, and thus continued to the closing of the bank. The Baron had employed seven hours to exchange twenty-one thousand pounds.
But as he also had nine employes of his house engaged in the same manner, it resulted that the house of Rothschild had drawn over $1,000,000 from the bank. He had drawn gold exclusively, and so occupied the bank employes that no one else could do any business.
The bankers the first day were very much amused at "This display of eccentricity." They, however, laughed less the next day when they beheld Rothschild on hand early, flanked by his nine clerks.
They laughed no longer when they heard the irate banker say, "These gentlemen refused to pay my bills; I have sworn not to keep theirs. They can pay at their leisure; only I hereby notify them that I have enough to employ them two months!" Two months! Fifty-five million dollars in gold drawn from the Bank of England which was more gold than they had to pay! The bank was now thoroughly alarmed. Something must be done, and the next morning notice appeared in all the papers that henceforth the Bank of England would pay Rothschild's bills as well as its own.
From anecdotes one can often learn much of the inner life and thoughts of people, and much can be seen of the real character of the subject of this sketch from the above story. This Napoleon of Finance died in 1836.
_"The man who seeks one thing in life, and but one, May hope to achieve it before life be done; But he who seeks all things, wherever he goes, Only reaps from the hopes which around him he sows A harvest of barren regrets."_
[Illustration: From Obscurity To Great Honor.]
JOHN ADAMS.
The subject of this narrative was a great-grandson of Henry Adams, who emigrated from England about 1640, with a family of eight sons, being one of the earliest settlers in the town of Braintree, Massachusetts, where he had a grant of a small tract of forty acres of land. The father of John Adams, a deacon of the church, was a farmer by occupation, to which was added the business of shoemaking. He was a man of limited means, however, was enabled by hard pinching to give his son a fairly good education.
The old French and Indian war was then at its height; and in a remarkable letter to a friend, which contains some curious prognostications as to the relative population and commerce of England and her colonies a hundred years hence, young Adams describes himself as having turned politician. He succeeded in gaining charge of the grammar school in Worcester, Massachusetts, but, instead of finding this duty agreeable, he found it 'a school of affliction,' and turned his attention to the study of law. Determined to become a first-class lawyer, he placed himself under the especial tuition of the only lawyer of whom Worcester, though the county seat, could boast.
He had thought seriously of the clerical profession, but, according to his own expressions, "The frightful engines of ecclesiastical councils, of diabolical malice, and Calvinistic good nature," the operation of which he had witnessed in some church controversies in his native town, terrified him out of it. Adams was a very ambitious man; already he had longings for distinction. Could he have obtained a troop of horse, or a company of infantry, he would undoubtedly have entered the army. Nothing but want of patronage prevented his becoming a soldier.
After a two years' course of study, he returned to his native town, Braintree, and in 1758 commenced practice in Suffolk county, of which Boston was the shire town. By hard study and hard work he gradually introduced himself into practice, and in 1764 married a young lady far above his station in life. In our perusal and study of eminent men who have risen by their own exertions to a higher sphere in life, we are not at all surprised to find that they have invariably married noble women--ladies, who have always maintained a restraining influence when the desire for honor and public attention would appeal to their baser self, and whose guiding influence tended to strengthen their efforts when their energies seemed to slacken. So it was with John Adams; his wife was a lady of rare abilities and good sense, admirably adapted to make him happy. Boys, be careful whom you marry!
Shortly after his entrance into the practice of the law, the attempt at parliamentary taxation diverted his attention from his profession to politics. He was a most active oppositionist. He promoted the call of the town of Braintree to instruct the representatives of the town on the subject of the Stamp Act. The resolutions which he presented at this meeting were not only voted by the town, but attracted great attention throughout the province, and were adopted verbatim by more than forty different towns. Thus it is seen that Adams had not studied hard all these years for nothing; the price of success is honest, faithful WORK.
Of course his towns-people would reward him. Men who have ability, unless some bolt is loose, will invariably gain success. Soon after this Mr. Adams was appointed on the part of the town of Boston to be one of their counsel, along with the King's attorney, and head of the bar, and James Otis, the celebrated orator, to support a memorial addressed to the Governor and Council, that the courts might proceed with business though no stamps were to be had. Although junior counsel, it fell to Adams to open the case for the petitioners, as his seniors could not join; the one owing to his position as King's attorney, the other could not as he had recently published a book entitled the 'Rights of the Colonies.' This was a grand opportunity for Adams and he made the most of it,--boldly taking the ground that the stamp act was null and void, Parliament having no right to tax the colonies. Nothing, however, came of this application; the Governor and Council declining to act, on the ground that it belonged to the Judges, not to them, to decide.
But Adams had put himself on record, and this record established his reputation. "There is a tide in the affairs of men, which, taken at the flood, leads on to fortune." The time came to Adams to distinguish himself, and he was not found wanting. It was at this same period that Mr. Adams first appeared as a writer in the _Boston Gazette_. He never allowed his opportunities to pass unheeded; in fact, he made his opportunities. Among other papers which appeared at this time from his pen, was a series of four articles which were republished in a London newspaper, and subsequently published in a collection of documents relating to the taxation controversy, printed in a large volume. At first the papers had no title in the printed volume, being known as "Essays on the Canon and Feudal Law." Well they might have been called so, but, it seems to us, that it would have been much more consistent to have entitled them "Essays on the Government and Rights of New England."
His style was formed from the first, as is evident from the articles.
His law business continued to increase and in 1768 he removed to Boston where he would have a larger field in which to develop his intellect. He served on various committees during the next two years, and in 1770 was chosen a Representative to the general Court, notwithstanding he had just before accepted a retainer to defend Captain Preston and his soldiers for their share in what had passed into history as the Boston massacre. His ability as a practitioner at the bar can be judged from the successful result of their case, as managed by him, against great public prejudice. Adams' duties as a Representative interfered much with his business as a lawyer, on which he depended for support, and which had grown to be larger than that of any other practitioner at the provincial bar.
He entered upon the duties of his new office with his customary energy, becoming the chief legal advisor of the Patriot party, and now for the first time an active and conspicuous leader of the same. Mr. Adams' keen foresight enabled him to wisely judge that it would be a good policy not to push too vigorously to the front as a politician until his private wealth would justify his necessarily great loss of time. Hence, he moved back to Braintree, resigning his seat in the Legislature, but still retaining his law office in Boston. A comparative lull in politics made his presence in that body less needed, but still he was consulted as to all the more difficult points in the controversy with Governor Hutchinson, and freely gave his aid. Indeed, it was not long before he moved back to Boston, but thoroughly resolved to avoid politics, and to devote his undivided attention to his professional work. Soon after his return to Boston he wrote a series of letters on the then mooted question of the independence of the judiciary, and the payment by the Crown of the salaries of the Judges. Soon after this he was elected by the general Court to the Provincial Council, but was rejected by Governor Hutchinson.
The destruction of tea, and the Boston port bill that followed, soon brought matters to a crisis. These events produced the congress of 1774.
Mr. Adams was one of the five delegates sent from Massachusetts, and his visit to Philadelphia at this time was the first occasion of his going beyond the limits of New England. In the discussions in the committee on the declaration of colonial rights, he took an active part in resting those rights on the law of nature as well as the law of England; and when the substance of those resolutions had been agreed upon he was chosen to put the matter in shape. In his diary the most trustworthy and graphic descriptions are to be found of the members and doings of that famous but little known body. The session concluded, Mr. Adams left the city of brotherly love with little expectation, at that time, of ever again seeing it.
Immediately after his return home he was chosen by his native town a member of the provincial congress then in session. That congress had already appointed a committee of safety vested with general executive powers; had seized the provincial revenues; had appointed general officers, collected military stores, and had taken steps toward organizing a volunteer army of minute-men. The governor--Gage--had issued a proclamation denouncing these proceedings, but no attention was ever paid to it. Gage had no support except in the five or six regiments that guarded Boston, a few trembling officials and a small following from the people.
Shortly after the adjournment of this congress Adams occupied himself in answering through the press a champion of the mother-country's claim.
This party, under the head of 'Massachusettensis,' had commenced a series of able and effective arguments in behalf of the mother-country, which were being published in a Boston journal. To these Adams replied over the signature of 'Novanglus.' These were papers displaying unusual ability on either part. They were afterwards published as "A History of the Dispute with America," and later yet in pamphlet form. Their value consists in the strong, contemporaneous views which they present of the origin of the struggle between the colonies and the mother-country, and the policy of Bernard and Hutchinson as governors of Massachusetts, which did so much to bring on the struggle. Like all the writings of Mr.
Adams, they are distinguished by a bold tone of investigation, a resort to first principles, and a pointed style; but, like all his other writings, being produced by piecemeal, and on the spur of the moment, they lack order, system, polish and precision.
In the midst of the excitement produced by the battle of Lexington--which at once brought up the spirit of even the most hesitating patriots to the fighting pitch, and which was speedily followed by the seizure of Ticonderoga and Crown Point, and by other similar seizures in other colonies throughout the fast uniting provinces--John Adams once more set out for Philadelphia to attend the Continental Congress of 1775, of which he had been appointed a member.
This congress, though made up for the most part of the same men who constituted that of the previous year, was a wholly different body from its predecessor. The congress of 1774 was merely a suggestive convention. The present congress speedily assumed, or rather had thrust upon it by unanimous consent of the patriots, the exercise of a comprehensive authority in which supreme executive, legislative and, in some cases, judicial functions, were united. In this busy scene the active and untiring Adams, one of whose distinguishing characteristics was his CAPACITY AND FONDNESS FOR BUSINESS, found ample employment; while his bold and pugnacious spirit was not a little excited by the hazards and dignity of the great game in which he had come to hold so deep a stake. Unlike many of that body, Adams had made up his mind that any attempt tending toward reconciliation was hopeless.
Under the lead of Dickinson, though against the strenuous opposition of Adams and others, that body voted still another and final petition to the king. However, Adams succeeded in joining with this vote one to put the colonies into a state of defence, though with protestations that the war on their part was for defence only, and without revolutionary intent. Not long after this congress was brought up to the point of assuming the responsibility and control of the military operations which New England had commenced by laying siege to Boston, in which town General Gage and his troops were caged, and before which lay an impromptu New England army of 15,000 men which the battle of Lexington had immediately brought together. Urged by the New England delegates, congress agreed to assume the expense of maintaining this army. John Adams was the first to propose the name of George Washington for the chief commander; his desire being to secure the good-will and co-operation of the southern colonies. The southern colonies also urged General Lee for the second place, but Adams insisted on giving that to Artemas Ward, he, however, supported Lee for the third place. Having assumed the direction of this army, provided for its reorganization, and issued letters of credit for its maintenance, this congress took a recess. Adams returned home, but was not allowed any rest.
People who really have ability are never allowed to remain idle; the fault is not in others, but in us. No sooner had Mr. Adams arrived home than his Massachusetts friends sent him as a member to the State council. This council had, under a clause of the provincial charter intended to meet such cases, assumed the executive authority, declaring the gubernatorial chair vacant. On returning to Philadelphia in September, Adams found himself in hot water. Two confidential letters of his, written during the previous session, had been intercepted by the British in crossing the Hudson river, and had been published in the Boston papers. Not only did those letters evince a zeal for decisive measure which made the writer an object of suspicion to the more conservative of his fellow-members of Congress, but his reference in one of them to 'the whims, the caprice, the vanity, the superstition, and the irritability of some of his colleagues,' and particularly to John Dickinson as 'a certain great fortune but trifling genius,' made him personal enemies by whom he was never forgiven.
But, though for a moment an object of distrust to some of his colleagues, this did not save him from hard work. About this time he wrote: "I am engaged in constant work; from seven to ten in the morning in committee, from ten to four in Congress, and from six to ten again in committee. Our assembly is scarcely numerous enough for the business; everybody is engaged all day in Congress, and all the morning and evening in committee." The committee, which chiefly engaged Mr. Adams'
attention at this time, was one on the fitting out of cruisers, and on naval affairs generally. This committee laid the foundation of our first navy; the basis of our naval code being drawn up by Adams.