Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-09-06
AN AUTOBIOGRAPHY,
JAY GOULD GIVES IN EPITOME OF
HIS NOTABLE CAREER.

His Examination Before the Senate Com
lnfttee on Education and Labor-The
Circumstances that Aided Him In the
Amassing of His Colossal Fortune-The
Enterprises in Which He Has Been En-
gagged.
New YORK, Sept. 5. -Senators Blair and
Call waited patiently for Jay Gould to ap-
pear before them this morning to testify
as to the relations of capital and labor. A
large audience was in attendance. As
Gould delayed his appearance the commit
tee heard statements from Geo. w. West
ern, lawyer of this city, who appeared in
opposition to the theories of Henry George
and Moody. just as the witness was be-
ginning his testimony Gould entered.
Western merely stated the tendency to
monopolies of land was not so great now
as it was hundred years ago in this
country. Gould then took the
stand, and, on being sworn,
Senator Blair requested him to give
the history of his early life and first bust
ness adventures, and then go on and give
the story of his progress to his present
condition. Gould seemed to be somewhat
staggered at the request, but turning with
smile toward the reporters table, began
in low voice: I was born at Roxbury,
Delaware county,in this state, May 81, 1886.
Ny parents had a small farm and kept 20
COWS, which assisted in tending. I at
tended school about Is miles distant, and
when was about IA years old obtained
position in store in neighboring village.
1 was much interested in mathematics and
Cd RI or Qr3o 70
study until the store was opened. I re-
manned in the store two years, when
made the acquaintance of a surveyor who
was making survey of Ulster county. He
took NE into his employ at a salary of 800
per month. I learned that my employers
credit was not very good, and was to OBJ
tain no money for my work until the map
was complete, so made sun dials for fart
mers at 81 piece to pay my running ex-
psnses. made surveys afterwards in
Delaware and Albany counties, and made
in these contracts $4,000. Then went in
to the tanning business with Mr.. Pratt,
of Prattsville, and finally entered into
partnership with Charles McLupp, who
committed suicide. The first railroad
with which I had any connection was
what is now portion Of the Rennsalaer &
Saratoga, of which I was superintendent.
During the panic of 1859 its stock
went down very low, and
was able to buy in large
amount of the stock, which afterwards
rose in value and I made handsome
profit. The next road in which Mr.. Gould
said he interested himself was the Cleve-
land and Pittsburg, which he afterwards
leased to the Pennsylvania road. Gould
then rehearsed over his connection with
the Union Pacific road. AS he had inter-
ested himself in it, and his stock was fall
ing, he had made up his mind to carry 1t
through at any cost. 1t was on the point
of being placed in the hands of receiver.
Afterward whom the road became paying
one, and dividends were declared regularly
there was a great cry from the public
that it was Jay Gould's road, as
if this was dangerous thing. He
said, however, he was then engaged in
selling out his stock, which was soon in
the hands of more than 1000 investors, re-
presenting the earnings of many widows
and orphans. This ended his connection
with the Union Pacific, and the stock was
now higher than when he sold it. His
next venture was the building up of the
Gould railroad system in the South and
West. 1t began with the purchase of the
Missouri Pacific from Commodore CARR
son. Other roads were purchased and con-
nection made to different points. Gould
said he had at this time passed the point
when money making was an object, and
his only idea was in carrying
out his system to merely see
what could be done by combining the
lines now spread through Ohio; Illinois,
Indiana, Michigan, Missouri, Arkansas,
Indian Territory, Texas, Louisiana and
Mexico. There are central connections at
Cincinnati; St. Louis, Chicago and New
Orleans, All tbs construction in this sys-
tenn of roads was completed last year, and
represents about 10000 miles of road.
The earnings of the lines, when he took
possession of them, was about $4,000 a
month, and the earnings of the past
month was S5,5OO,OO0. In building this
system the Southwest has been opened up
and the country thrown open to civiliza-
ton. Mr.. Gould stated he was director
in the Chicago & Northwestern, Chicago &
Rock Island, Delaware, New York Central,
New England and several
smaller lines. Incidental to
his railroad interests he had become large
~ interested IN Ine Telegraph BUSINESS.
This was on account of the intimate con-
nection between the two industries. He
was instrumental in starting the American
Union to make it competing line
for the Western Union and
found it would be impossible to accom-
plishithis on account of the extent of the
latter's connections. He then turned his
attention to getting control of the Western
Union by buying its stock when it was low,
finding it paying Investment. His object
in securing control of the Western Union
was to make his friend, General
Eckert, the manager, as he had great
confidence in his business ability.
The railroad facilities which were now &C.
CURED by the Western Union are inval-
liable, and it is impossible to estimate
their value. Can you give us your opin-
ion as to the practicability of govern
ment postal telegraph company, which
would take the place of the present sys-
tenn. Mr.. Could think the institutions
of this country are opposed to any such
thing as that. The telegraph business