The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1883-09-12

ExBmiDatiOn.
/ Nkw YORK, Sept. 5-Senators Blair AMI
/ Call waited patiently for Jay Gould to sp-
pear before them, this morning, to testify as
TO the relation of cspital and labor. A large
I audience was in attendance. AS Gould de-
! lsyed his appearance. the Committee heard
o statement from George w. Weston, q law
yer Of this city, who appeared In opposition
/ TO the theories Of Henry George and Moody.
/ Just as the witness was beginning his tesd-
that the tendency to monopolize land was
not 80 great now sit was one hundred years
/ ego in this country.
Gould then took the stand and on being
sworn. Senator Blair requested him to give a
| history of bis early life aud frst business sd
ventures and then 80 on and 6 We the story
/ of his progress to his present condition.
1 Gould seemed 10 be somewhat staggered at
I the request, bat turning with smile to the
reporters table, began in q low tone of voice:
81 was born at ROxbury, Delaware County,
/ n. Y, Msy q, 1896. BY parents had small
| fsIm and kept twenty cave, which l assisted
tending. l attended school about fourteen
milee distant, and when was about fourteen
/ years old obtained e situation in q store In
| neIekboring villsgs. was much interested
/ in mathematics, and used 10 set up a. 3
| O'clcck in the moraing and study Till G, when
the store ves opened. ] remained in the
store for two yesTs when made the &C
/ quaintsnce OF @ surveyor who was mskiag a
, ,uIvey of Ulster County. he took me into
his service st q salary of $40 per month.
. >.
very coed, and l TRs TO Obtaia 10 money for
1 my work until the mop was coInplete, 80 /
unde sun di3ls iO- farmers s.: II apieca 20
psy ms running expenses. | IN tde su:yeys
! afterwards Cf Delaware and Albany C1un
/ ties. ard mace in these contracts Go1ut
! 50 coo. l then went iEto the iAnHe,y busi.
egs With Dir. Pratt, OF PratisVliis. aud
I hntlly entered into partnership ish Cdaries
\ NJ. Lenpp Hho commits sulcl6o
The fat railroad With which hsd any
connection w8s What is noy q parto1 Of the
| Rensselaer, ard Saratoga, Ct which wss Su-
! periniendent. Duriag the panic Of 1888 tbe
/ stcck vent down very low. and / vas ole %
| buy in n large amount, which aftsrEsrds rose
in value Gn0 made handsome profit. The
J next road in which Gonld SAID be interested
/ himfei w0s the Cleveland and PIttsbIrg,
! Thich be Aiterserd lessed 20 the Peunsylga-
MIA Read. Gould then rehssraed his e1nnec-
tGn with the Union Pacific X 'Bd. A. he had
/ interested bimss II il it aud the stock Vas
isiliDg he made up his mind 10 cary il
through ~ any cost II was on the point OF
! bsiI ylsced in the hands of a receiver. AZ.
terwar3. rhen the rosd became paying one
/ snd dividends declared regularly, there vas
/ q Preat cTv from the public that it was
/ Jay Gould's road. as II this was O dan
/ eerous thing. He said, however, he
vss then engaged in selling out his
stock, which was coon IN the hands of more
than GOO investors, representing the earn
ended his connection with the Union Pacific,
and the stock is now higher than when be
/ sold u. TIE next venture was the building
up Of the Gould railroad system in the South
4 and West. 1t began with the purchase OF
| the Missouri Pacific from Ccmmodore Gar
riton. Other roaCs were purchased and coz
cGDnectiOrs made 30 different points Gould
| said he had at this time passed the point
! sh"Ie monty-mskipg WAS sn object. sud his
I tny idea was in ciTrJirg OF. 10 system TO
/ ns'sly see what could De done by com Sina-
ton. The lines now spread through
/ Ohio, Illinois, Indiana, Michigan, Missouri.
! ArkRmas Indian Territory, Texas Loaisiana
ard Mexico. There are central connexions
/ 81 Cincinnati, st. Louis, Chicago and New
/ Orleans. AL tie construction of this system
OF roads was completed last year, and repre-
sented sbon 10000 miles of road. The earn
ipgs of the lines when he took possession OF
them we're about $40, COO month.
The earnings for the pass month were t5,-
/ 6cO,COO. In building up this systen the
| Southwest has been opened up sld the coun-
Try thrown open to civilization. mr. Gould
stated that he vas Director in the Chicago
and Northwest, Chicago and Rock Island,
/ Delaware, LsckavsnEa and Western, New
YOsh and New Eagland, and several other
/ 81 eller lines.
Incis entail ~ his railroad interest, he had
bsccme largely interested in tie telegraph
! bnsiDeee. This was on account Of the init
Ee Was inktrums sntal in star ing ths Amsti-
csn Union 10 Tnake 1t . competing line with
! tho "A estern Union. He found that IL woul 8
| be if6 Lossible to accomplish this on account
| OF The extent Of the lst-er's connec ions
| He then turned hiS attention 10 getting cou.
| troll Of ,hs Western Union by buyiog stock
when IL was low. Finding il y paying iu-
vtstment, he had been constantly inc 'easin 2
! bis int rest. His object in securing control
Of the Western UniOn vas 30 make his friend,
General Eckeri, the msDger. ss he 81 great
| col fdeuce in his business ebiiiry. 7 % rail.
! road facilities which were now a'qui ed by
! the Western Union are invaluable AMI IL ~
impossible 10 estimste their value.
Can you give as yogf opinion as to the
| prsc'tcatiUty OF Governments postal tele-
gTsph, which wOuld take the place OF the
| present system, Mr. Gould7"
81 think the institutions OF this country are
opposed to any such things ss that" repllei
! Mr.. Gould. "Telegrephic business. more
| than any other requires TO b. managed by
| experts, and the dividends OF the Western
| Union are obtained because IL does t..e busi-
bees well. Under Government system the
whole management of these great interests
would be subject % change and the perticu-
lar political party then in power" Mr.
! Gould also thought-tbst the mail service
would be better accomplished by private en-
| serprise than by the Government He would
not object 10 the Government taking hold OF
the telegraph system Of the Western Union,
II IL would pay for IL what
| 1t was worth on q fair sppraisemsnt; bat In
| bis opinion IL would not be q success. Uni-
form tariffs could be secured nnasr priv ate
enterprise as well ss under Government
supervision. and the Western Unions policy
tended to accomplish this. In New York
State there Is uniform system OF rates.
There could De no lasting competition sesinst
he Western Union on account OF its great
fsciliiIes. When there we're powerful rivals
| The "a, e. were not reduced, becanse the conf