New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-01-02
GBITC AIRY.
Jacob Barker, Broker and Financier.

| Jacob Barker, Broker and FiuancIer.
From the New York Herald
Jacob Barker, the well known American
tinancler and money broker, died tn Phiia
de!phla on the twenty instant
| Mr.. Barker was ninety three years Of age
| He enjoyed an almost worldwide repuJa
tiUn on account of his tact, skill and genera
| judgment in the exercise of tie peculiar
professional ability which he possessed.
| Jacob Barker was born at Swan Island
kennebec county, Maine, on the seventh o.
December, III the year l779. He descended
by his mothers side of the family. from the
same stock as DIR. Franklin. to whom, III his
very ploudest moments, he was ever glad
10 claim certain family resemblance. Mrs
Barker his mother. was of a Quaker family
III Nantucket. Young Jacob was brought
up IN the communion of the Friends to
which, as 10 the unpretendlnS, style of dress
costume of the society, he adhered for very
many years. When he was sixteen years
Old he was set adritt in the woEii eft lord
Of himself" which has been tb many of his
age a ''Herltagc OF woe.
Jacob came to New York. He obtained
employment with Isaac Hi"is. a commits.
sion merchant in this city. He was ght,
active, intelligent and venrGrosome in spec
uiation. Commencing to trade on his own
account in "a small way. he realized before
the attainment of his majority so much
| money that when he arrived az he age o,
twenty-one-a period Of five years from his
reaching New York-he was in possession
| Of four ships and a brig, and had his notes
regularly discounted at the United States
Bank. Mr. Barker married Elizabeth.
daughter OF Thomas Hazard, Of New York.
on the twentyseventh OF August, in the
! wear 1901. Sitting ar his wedding dinner.
| III company with Mr.. Henry Devices for
| whom he had Endorsed heavily. news was
| brought to Bar ker Of the failure o. both
He passed The letter over TO Devices, had
| the pleasure Of vine wiki him. and took
no further notice of the matter. He soon
| atterward entered into a contract with the
American government for a supply of oil
lie was then doing large shipping bust
ness. IL this line he received the 1iisi CON
signment of the first steam engine used on
the North river.
The war with Great Britain breaking
out. Mr.. Barker took the Democratic side
! in politics. He pledged himself 10 raise
| a loan Of SJ,U0O,000 for the use of the
United States government. He was made
| one OF the building committee which was
| appointed to superiuteud the erection OF
| old TaInInany Hall, and took part in the
first meetings held within its walls. He
! lost many-au, We beheve-Ot his ships
! during Ike progress Of tie War with
| England. Pursuing lis political career,
| IL became Safe Senator from New IoEk.
| Sitting II this capacity in The Court OF
| Errors. he delivered an opinion n oj,po-
| s!ton 10 that of Chancellor Kent il. an
| insurance case. Chancellor Kent held Tii4:
If the master of the vessel intended" to
deviate from the voyage. a. stated III the
unliov the insurance was forfeited -Nr
Barker held that forfeiture shou,d only
follow upon actual deviation. ! he COURT
sustained Barkcrs view.
Mr.. Barker established tie L5tloa rcws-
paper 70 advocate The election 81 DE Wit.
Clinton :" Tie ctire OF Gy.c"LJr OF -2c
State Of New York
He subsequently, CONNIE need - mediate
deeply on the mysteries OF national credits
ana expenditures. Keeping up an immense
outside business at the same AIoIBtn: he. ii
the year iHIJ established thr Exchange
Bank in Wall street. His financial jeaiu-s
with the government were then exceedingly
heavy. IL the Exchange Bank ne COM
nenced tbs career as a sptcu!ator IL stocks,
and aslired, il was said. to become the
regulator-ir-chi"f and principal channel Of
the money dealings OF tie Country. Cir
cuulstance-. the Laws and the d.itt Oi the
TRANSACTIONS Of the day favored ni~ ambi-
ton, and, as a bold sp. culator. he came
nearer 70 lis absolute realization than has
occurred II the history OF any oae iuGiy,d-
ual depending on ms own resources. Tie
Exchange Eark broke in ISL. Barker
turned round and made adcoit and active
use of many other banking institutions
chartered i'll different States. He thu- con
t,nued his business operations and On such
a large scale during many years sub>e-
uuentiv that lie WAS thought 70 have control
OF a great amount ut cap!ts |.
Inc occurrence OF some transactions CON
rected with the North River Bank subject
cd him 10 open personal insult at the hands
OF one David Rogers. Barker demanded in
explanation. He did not receive anv,fIUn
l,lt N t,li
found by the grand jury, charging him with
the ottense OF sending achallenge. Mr.. Bar
her took his trial. He defended himself be
fore the court with great ingenuity and
subtletv Of argument He denied the fact
OF the challenge. The judges and jury did
not coincide IL his view OF the points of law.
however. He was found guilty and sen
fenced 10 distranchisem"nt of his political
rights. Governor Clinton relieved hln of
the penalty by executive action. On The
failure aiterward of the Life and + Ire In
surance Company, Mr.. Barker WAS indicted.
with others. under a charge Of CONSPIRACY !
TO detraud. The trial was lengthy. Coun- |
sci required time to study lie uo;.~ before
commencing the defense.
Mr.. Barker. according to a suggestion Of /
his friends. began it himself. He lad not /
taken The points in writing. Nut. LutWItE- |
standing. his effort was regarded a. 4 pro
hteT II ability EVEN IL lawyer E,I-ule-t-
The Inry disagreed on the first trlal. He !
was convicted on the second. but . new |
trial was granted. The indictment was /
quashed after the third. Barker au~r aimed. |
however. from personal efforts ii the latest /
instance. leaving his case i'll the lands OF |
Ii legal advisers. The law proceedings i'll |
this case and III many other suits distracted
his attention from his business. l. 'iuav be
saids that they ruined hIu by destroying
public confidence i'll his operations He
alleged the existence of a conspiracy against
llln. Some OF the most influential citizens
Of New York headed the movement no.-
50 his allegation went ior
naUght.
Mr.. Barker took his departure from the
Northern metropolis in the veal 1884. He
went to New Orleans. Here he applied
himself to the study OF law. He was ad-
nitted to the bar and to practice in the
courts OF that city after having been I'M
in his first examination. His ma
ure remained restless; his vital energy
powerful In New Orleans lie mixed him
elf III matters of Jurisprudence, general
OcIcty and commerce to a very influential |
Xtent. Many stories are told OF his bust
less ingenuity and selt-posscssion. 1t was
,enerally Y conceded. indeed, that he had 10
quail among the class to which he be
ouged, a class peculiar to all vast ntrcan-
lie communities.
II was said of Mr. Barker that lie pos
essed "bUundleSs assurance, perfect pos |
eSslon OF his faculties, the power to per
orm an immense amount of intellectual
lbor and the the CUsarlike ability of
oiDg many Important things Al til" same
me.