The New York herald., 1874-12-29

the house was hung IN mourning, and IL will re-
main so until after the funeral.
| SKETCH OF GERRIT SMITH
! Gerrit Smith was born at Utica, in this State.
March6 1891. He was the son OF Peter smith, a
man OF prominence In his day. The elder smith
early IN life was partner or John Jacob Astor
IN the FUR business in this city, 1t was notyer the
time for siberian saDles and Alaska seaisklna, the
fur trade at that time being confined to our own
Northern forests and streams The TWO traders
Astor and Smith, had little money, but they had
plenty OF energy and pluck In the summer they
penetrated the in OF the State Tor the furs
which the sayages mad gathered during the
previous winter and assisted by the Indians
brought them their backs and In canoes to
Albany. whence they were shipped to New York.
/ Alter some years they dissolved partnership,
Astor continuing IN the lur business and Smith es-
tablisnng his home IN the interior OF the State.
AT that time Utica, where Mr.. smith at first made
his home, a small collection OF houses ana
oneida county was still unsettled.
PETER SMITHS REAL ESTATE OPERATIONS.
The real estate operations or the elder Smith
have particular interest at this time. because his
early investments IN land subsequently formed
the bulk OF the fortune OF his Gerrit. Soon
after removing to Oneida county Peter Smith
bought $4,000 acres OF land from the State paying
Tor it at the rate of IS per acre, This was only the
beginning OF his purchases Taking up his resi-.
dence in the new county OF Madison he continued
to buy land In that and neighboring counties.
sometimes purchasing whole townships at time.
As Illustration OF the extent oil his landed pos
sessions it may be remarked that when his son
Gerrit came OF age he gave him a deed for the en-
tire township OF Florence, in oneida county. Much
or the land acquired BY Mr.. Smith was purchased
at sales by the Comptroller OF the State for unpaid
taxes. II embraced from 100000 TO 100000
acres, and was so widely extended that
the real estate which afterward came TO his son
was situated IN htysix out OF the sixty counties
IN the Ssate. Peterboro was for many years che
home OF the father as well as the lifelong resi-
dence OF the son. The elder Smith had early &C
CURED great influence over the Indians, and his
house was often the scene OF councils OF the great
est Importance to the frontier. Mr.. Smith acting
as moderator over the deliberations OF the savages.
The kitchen floor al night was often strewn with
sleeping Indians and the cogAci IRE often blazed
among the trees OF the forest. 1t Is noteworthy
that one of Mr.. Smiths sons, the well known Mr.,
Peter Sken smith, was SO named IN honor OF The
great Oneida chief, nandoah, with whom firm
and intimate friendship was long maintained.
Peter smith died In 1887.
GERRIT SMITHS BUSINESS LIFE.
Gerrit Smith was educated at Hamilton College,
from which institution he was graduated in 1918,
bearing on the honors OF his class. Early in lie he
showed great deal OF literary taste and was al
ways careful student, but upon leaving college
and coming Of age the gift OF his iather claimed
part OF his attention. ana II was besides his
iather's desire that he should become the manager
OF tae immense landed interests OF the family. lie
thus became, while very young. one OF the best
business men in the state, and his father had been
dead only few months when his capacity was
taxed to the utmost. 1t was the year OF our nrst
hat otoA
and business was at standstill. Most
business men who were debt went
down with the crash. The will OF
his father, while it left him, per-
haps, the most extensive landowner in
the United States, placed him in position where
1t was next TO impossible to Withstand shock SO
great and so unexpected. Much OF the lana which
his iather lett him was poor and unproductlve.
Besides 1t was charged with debts to consider
able amount ana with heavy legacies to other
heirs. For the first time in his lie Mr. Smith
without money. The banks had suspended pay
ment and 1t was impossible to borrow In this
emergency he sought the advice OF Daniel Cady,
long one OF the most eminent lawyers in the State
a brotner-in-law oil Peter Smith. and for many
years the principal legal adviser OF Doth lather and
son. Mr.. Cady counselled an assignment ior the
benefit OF creditors, and though Mr. Smith hesi-
tated TO take this course he saw that unless relief
was obtained from some quarterit would become
necessity. There was, however, one resource pos
sioly open 10 him, and that was through the assist
ance OF Mr.. Astor, his father's old-time partner
and friend. He at once wrote 10 Astor, informing
him OF his situation and asking for loan. In re-
sponse Mr.. Astor invited hum to the city that they
might talk the matter over. Mr.. Smith was asked
to dinner py the venerable millionaire, who was
full OF anecdotes OF his adventures with Peter
Smith in the valley or the Mohawk. At length the
subject OF Mr.. Smiths embarrassment was re-
erred 70, Astor asking him how mucn OF loan
he wanted. 1.-TWO hundred and fifty thousand
dollars" was the answer ''D0 you want 1t imme-
diately and all at once ?" Mr.. Astor asked 81 don
Gerrt replied. This was a large demand, even
upon millionaire, and Mr.. Astor's countenance
fell for moment but recovering Immediately
he declared, Then you shall have itn About
1928 Mr. Smith had purchased some water power,
paying ior 1t only $4,000, the income OF which
now represents a capital OF nearly $1,000, 600.
IL was agreed that Smith should execute a mort
gage on this property TO Astor security for the
loan, and alter it had been properly recorded
among the records OF Oswego county 1t should be
forwarded TO the millionaire According to this
agreement Mr.. Astor gave Smith his check lor the
amount and smith executed the necessary instru-
ment, sending II TO Oswego to be recorded and
then sent to Mr. Astor. After some weeks, when
most OF the money was expended, Mr.. Smith re-
ceived q note from Mr.. Astor saying he had not
yet received the promised security. Upon inquiry
1t was found that the mortgage had been properly
recorded, but had not been Gent to Mr.. Astor ac-
cording TO Instructions Thus Tor several weeks
John jacob Astor apparently had no other security
for the loan OF s25o,ooo that the WORD OF Gerrit
Smith.
BEGINNING OF Mr.. SMITHS PUBLIC CAREER.
Mr.. Smith always took very active interest IN
public affairs, and very early in life began to ad
dress political and other gatherings. He was
among the ardent admirers OF De Witt Clinton and
warmly espoused the canal policy OF that dis
tlngushed leader. IL was In consequence OF HIS
attachment to Clinton quite as much as 20 his
taste Tor politics, tnat entered upon what may
be called his public career. Clintons removal