The first American attempt at a world's fair in Philadelphia in 1876 drew crowds but was a financial failure. Nonetheless, ideas about distinguishing the 400th anniversary of Columbus' landing started in the late 1880s. Civic leaders in St. Louis, New York City, Washington DC, and Chicago expressed interest in hosting a fair to generate profits, boost real estate values, and promote their cities. Congress was called on to decide the location. New York financiers J. P. Morgan, Cornelius Vanderbilt, and William Waldorf Astor, among others, pledged $15 million to finance the fair if Congress awarded it to New York, while Chicagoans Charles T. Yerkes, Marshall Field, Philip Armour, Gustavus Swift, and Cyrus McCormick, offered to finance a Chicago fair. What finally persuaded Congress was Chicago banker Lyman Gage, who raised several million additional dollars in a 24-hour period, over and above New York's final offer.