The Sunday herald. [volume] (Washington [D.C.]) 1866-1887, 1881-01-02
Mr.. Wade aud the western Union.

''The man, in my estimation, whom Gould
makes his especial model Is Jeptha II. Wade. the
old President of the Western Union Telegraph Com
pany and the man who gave 1t all Its successful
'.Tell us something about Wade, - 1 said.
'Well, sir that modest man. who Is now living
In gnet way In Cleveland, has one of the greatest
mind this country has ever produced. Heis man OF
the finest susceptbilitcs the pures morals, and Keen
est brain. Forty years ago lie was n carpenter,
pushing plane for his daily bread. To-day he Is
worth many millions. In my estimation, he stands
does to Washington. lie Is the originator of great
policy. Gould is the imitator Of that policy.
From the carpenter s bench Mr.. Wade became a
portrait painter, and was master of his business In
both. When the electric telegraph was discovered
Mr. Wade. who was OF scientific turn OF mind,
mastered the alphabet and then learned to operate the
rude instruments of the time. lie was then ready to
become an employt of one Of the many struggling
the construction OF several lines. among them
the first that went ont of tile city OF Detroit BY
these contracts he made little money and began to
operate somewhat in the stocks of various companies
lie saw that In the manner In which the business was
conducted 1t could not be financial success. Little
companies were springing Into existence all over the
country. One operated a line from Cleveland TO
Columbus; another from Cleveland to Buffalo;
third from Cleveland to Toledo; fourth from
Columbus to Cincinnati; NTH from Toledo to
Detroit and SO all over the country. Each OF these
little companies had president, secretary a
Offices and salaries for all. As result, none were
paying. The stock was down to almost nothing, and
the telegraph business everywhere on the verge OF
1
| this stock aud consolidating these many lines and
thus making one president and one secretary and one
cessful. The Western Union Telegraph Company
was started, and one OF the most stupendous monop
| olles on the continent was organized
''To show how closely Gould has followed In the
footsteps of Wade, 1t may be said that the latter
the first man to advocate an overland telegraph line
to California. lie went to the Pacific coast In
furtherance OF his scheme, and when he returned
met with the directors at their annual meeting at
| Buffalo. lie strongly advocated the Immediate con-
structtOp of the line discussed DrOlOnpeu
way by the directors, and many fanciful objections
were raised. 1t was claimed that Indians would cut
the wires, that buifaoes would rub the poles down.
| etc. Then 1t was thought the money could not be
raised At this point Mr.. Wade stepped forward and
without much dimcuty. He only asked that the
directors would do as they suggested-retain one
half the stock of the new line in the Western Union
hands and give him power to place the other half.
After some discussion that suggestion was agreed to.
I'm take half the stock myself, said Mr.. Wade.
How Will you pay for IT was asked. ,That's my
lookout III pay my part as fast aa the Western
Union Company pays her's As soon as the first
1t over, and came to the conclusion that the
ture was going to be pretty close corporation with
one man holding half the stock. Then they began to
In whom they had come to have great confidence
woud not be so anxious to own so mnch. And so the
nist through telegraph line across the continent was
constructed with its millions OF profit In the
monopoly of the business. The arrangement which
Mr.. Wade made with the California Telegraph Com-
pany, by which rebates all through messages
paid In gold, In that early day OF the war, for
tune In ITSELF So, Mr.. Wade was the first man 70
| control telegraph line across the continent Mr..
Gould was the first TO control railroad passing
the same territory.
| 1.-THE tactics Of Wade have been pursued by many
men seeking monopoly In business. The business
must be taken In each In its nciplency When
II Is not paving and be made TO pay by consolidation
and saving In expenses by doing things large
| scale. John ID. Rockefeller. the great mogul OF the
Standard Oh Company took the oil business when II
was paying nothiig by being divided Into hundred
hands aud by consoll1alpg buying some. ana crush
ing out others, has built up monopoly In the oil
| bnslne9s that controls the market OF the world
Gould has been close observer OF these things IL,
understands that the thing that makes raroat
successful or unsuccessful Is not so much whether
runs through this on that Kind Of country, Du
whether II " connected with any other rlAf mol
aud whether u can be given anything 10 do. li'
sces what Is needed In each particular route TO make
IL success and, taking advantage Of the usual
seryatism which makes people afraid TO take hold 0
new thing until Its success Is assured, he anticipate
tune, aud amasses his millions while OF lesse
nerve and bravery are counting their fingers aDI
hesitatiDg.n
This gentleman thought Jay Gould's scheme TO
opening up trade with Mexico Is one OF the grandes
ever conceived by any American. lie said
eclpsed anything done by the politicians for man,
and many year. lie then dwelt upon the wonderful
power which the man who controls the trade Of tn
Pacific states and of tho Republic Of Mexico an,
greater yet the State OF Texas, would possess, u
said that the President of the Reppbi; and his Con
gress would sink into ins,gnlhoance before the rail
road magnatei for his power Will be greater aud hi
ienure OF ONCE that OF king.-Chicago Tribune.