Captains of Industry by James Parton (life changing books to read TXT) π
If it had been a picture, I should have had it framed and hung up over my desk, a perpetual admonition to me to do my work well; not too fast; not too much of it; not with any showy false polish; not letting anything go till I had done all I could to make it what it should be.
In telling this little story, I have told thousands of stories. Take the word hammer out of it, and put glue in its place, and you have the history of Peter Cooper. By putting in other words, you can make the true history of every great business in the world which has lasted thirty years.
The true "protective system," of which we hear so much, is to make the best article; and he who does this need not buy a ticket for Colorado.
ICHABOD WASHBURN,
WIRE-MAKER.
Of all our manufactures few have had a more rapid development than wire-making. During the last thirty years the world has been girdled by telegraphic wires and
Read free book Β«Captains of Industry by James Parton (life changing books to read TXT) πΒ» - read online or download for free at americanlibrarybooks.com
- Author: James Parton
- Performer: -
Read book online Β«Captains of Industry by James Parton (life changing books to read TXT) πΒ». Author - James Parton
There never was a happier marriage than this. To old age, he never sat near her without holding her hand in his. He never spoke to her nor of her without some tender epithet. He attributed the great happiness of his life and most of his success to her admirable qualities. He used to say that she was "the day-star, the solace, and the inspiration" of his life. She seconded every good impulse of his benevolence, and made the fulfillment of his great scheme possible by her wise and resolute economy. They began their married life on a scale of extreme frugality, both laboring together for the common good of the family.
"In early life," he used to say, "when I was first married, I found it necessary to rock the cradle, while my wife prepared our frugal meals. This was not always convenient in my busy life, and I conceived the idea of making a cradle that would be made to rock by mechanism. I did so, and enlarging upon my first idea, I arranged the mechanism for keeping off the flies, and playing a music-box for the amusement of the baby! This cradle was bought of me afterwards by a delighted peddler, who gave me his 'whole stock in trade' for the exchange and the privilege of selling the patent in the State of Connecticut."
This device in various forms and modifications is still familiar in our households. They had six children, of whom two survive, Mr. Edward Cooper, recently mayor of New York, and Sarah, wife of Hon. Abram S. Hewitt, member of Congress from the city of New York. For nearly sixty-five years this couple lived together in happy marriage.
In 1815 the peace with Great Britain, which gave such ecstasies of joy to the whole country, ruined Peter Cooper's business; as it was no longer possible to make cloth in the United States with profit. With three trades at his finger ends, he now tried a fourth, cabinet-making, in which he did not succeed. He moved out of town, and bought the stock of a grocer, whose store stood on the very site of the present Cooper Institute, at that time surrounded by fields and vacant lots. But even then he thought that, by the time he was ready to begin his evening school, that angle of land would probably be an excellent central spot on which to build it.
He did very well with his grocery store; but it never would have enabled him to endow his Institute. One day when he had kept his grocery about a year, and used his new cradle at intervals in the rooms above, an old friend of his accosted him, as he stood at the door of the grocery.
"I have been building," said his visitor, "a glue factory for my son; but I don't think that either he or I can make it pay. But you are the very man to do it."
"I'll go and see it," said Peter Cooper.
He got into his friend's wagon and they drove to the spot, which was near the corner of Madison Avenue and Twenty-ninth Street, almost on the very spot now occupied by an edifice of much note called "The Little Church Round the Corner." He liked the look of the new factory, and he saw no reason why the people of New York should send all the way to Russia for good glue. His friend asked two thousand dollars for the establishment as it stood, and Peter Cooper chanced to have that sum of money, and no more. He bought the factory on the spot, sold his grocery soon, and plunged into the manufacture of glue, of which he knew nothing except that Russian glue was very good and American very bad.
Now he studied the composition of glue, and gradually learned the secret of making the best possible article which brought the highest price in the market. He worked for twenty years without a book-keeper, clerk, salesman, or agent. He rose with the dawn. When his men came at seven o'clock to work, they found the factory fires lighted, and it was the master who had lighted them. He watched closely and always the boiling of his glue, and at mid-day, when the critical operation was over, he drove into the city and went the round of his customers, selling them glue and isinglass, and passed the evening in posting his books and reading to his family.
He developed the glue business until it yielded him a profit of thirty thousand dollars a year. He soon began to feel himself a capitalist, and to count the years until he would be able to begin the erection of the institution he had in his mind. But men who are known to have capital are continually solicited to embark in enterprises, and he was under a strong temptation to yield to such solicitations, for the scheme which he had projected would involve a larger expenditure than could be ordinarily made from one business in one lifetime. He used to tell the story of his getting into the business of making iron, which was finally a source of great profit to him.
"In 1828," he would say, "I bought three thousand acres of land within the city limits of Baltimore for $105,000. When I first purchased the property it was in the midst of a great excitement created by a promise of the rapid completion of the Baltimore and Ohio Railroad, which had been commenced by a subscription of five dollars per share. In the course of the first year's operations they had spent more than the five dollars per share. But the road had to make so many short turns in going around points of rocks that they found they could not complete the road without a much larger sum than they had supposed would be necessary; while the many short turns in the road seemed to render it entirely useless for locomotive purposes. The principal stockholders had become so discouraged that they said they would not pay any more, and would lose all they had already paid in. After conversing with them, I told them that if they would hold on a little while I would put a small locomotive on the road, which I thought would demonstrate the practicability of using steam-engines on the road, even with all the short turns in it. I got up a small engine for that purpose, and put it upon the road, and invited the stockholders to witness the experiment. After a good deal of trouble and difficulty in accomplishing the work, the stockholders came, and thirty-six men were taken into a car, and, with six men on the locomotive, which carried its own fuel and water, and having to go up hill eighteen feet to a mile, and turn all the short turns around the points of rocks, we succeeded in making the thirteen miles, on the first passage out, in one hour and twelve minutes, and we returned from Ellicott's Mills to Baltimore in fifty-seven minutes. This locomotive was built to demonstrate that cars could be drawn around short curves, beyond anything believed at that time to be possible. The success of this locomotive also answered the question of the possibility of building railroads in a country scarce of capital, and with immense stretches of very rough country to pass, in order to connect commercial centres, without the deep cuts, the tunneling and leveling which short curves might avoid. My contrivance saved this road from bankruptcy."
He still had his tract of Baltimore land upon his hands, which the check to the prosperity of the city rendered for the time almost valueless; so he determined to build ironworks upon it, and a rolling-mill. In his zeal to acquire knowledge at first hand, he had a narrow escape from destruction in Baltimore.
"In my efforts to make iron," he said, "I had to begin by burning the wood growing upon the spot into charcoal, and in order to do that, I erected large kilns, twenty-five feet in diameter, twelve feet high, circular in form, hooped around with iron at the top, arched over so as to make a tight place in which to put the wood, with single bricks left out in different places in order to smother the fire out when the wood was sufficiently burned. After having burned the coal in one of these kilns perfectly, and believing the fire entirely smothered out, we attempted to take the coal out of the kiln; but when we had got it about half-way out, the coal itself took fire, and the men, after carrying water some time to extinguish it, gave up in despair. I then went myself to the door of the kiln to see if anything more could be done, and just as I entered the door the gas itself took fire and enveloped me in a sheet of flame. I had to run some ten feet to get out, and in doing so my eyebrows and whiskers were burned, and my fur hat was scorched down to the body of the fur. How I escaped I know not. I seemed to be literally blown out by the explosion, and I narrowly escaped with my life."
The ironworks were finally removed to Trenton, New Jersey, where to this day, under the vigorous management of Mr. Hewitt and his partners, they are very successful.
During these active years Peter Cooper never for a moment lost sight of the great object of his life. We have a new proof of this, if proof were needed, in the Autobiography recently published of the eloquent Orville Dewey, pastor of the Unitarian Church of the Messiah, which Peter Cooper attended for many years.
"There were two men," says Dr. Dewey, "who came to our church whose coming seemed to be by chance, but was of great interest to me, for I valued them greatly. They were Peter Cooper and Joseph Curtis.[2] Neither of them then belonged to any religious society, or regularly attended any church. They happened to be walking down Broadway one Sunday evening, as the congregation were entering Stuyvesant Hall, where we then temporarily worshiped, and they said:β
"'Let us go in here and see what this is.'
"When they came out, as they both told me, they said to one another:β
"'This is the place for us!'
"And they immediately connected themselves with the congregation, to be among its most valued members. Peter Cooper was even then meditating that plan of a grand educational institute which he afterwards carried out. He was engaged in a large and successful business, and his one ideaβwhich he often discussed with meβwas to obtain the means of building that institute. A man of the gentlest nature and the simplest habits; yet his religious nature was his most remarkable quality. It seemed to breathe through his life as fresh and tender as if it were in some holy retreat, instead of a life of business."
Indeed there are several aged New Yorkers who can well remember hearing Mr. Cooper speak of his project at that period.
After forty
Comments (0)