Savannah morning news. [volume] (Savannah) 1868-1887, 1883-09-08
JAYGoULD's EARLY STRUGGLES
How He'Got His start in Life

following is an extract from his testi-
mony:
MIR. Gould said that there was very
little in his career that he Thought would
interest the committee or the public, but
he was willing to tell all that there was.
lie was born in ROXbury. Delaware coun-
ty, New York, a place about 50mIles dis
tant from New York city. on Nav 81. 1856.
His father was a small farmer and kept n
dairy OF 20cows. The future millionaire,
being the only boy of the family, was re-
qulred 10 bring the COWS up in the morn
ing and help his sisters milk them at
night. He had often trudged through the
roads barefoOted and got thistles in his
teet. 1t was life he did not like, and one
day he said to his father that he wanted
to go to school. The school-house was
aDeht II or 10 miles away. His father
thought he was too young, but as he per
sisted in his request, the old man finally
told him that he was not worth much
at home and he might do with his
time as he pleased The next dav he
started on. he was then about fourteen
years old. lie found goOd-natured black
smith who let him live with him and 90
to school, he in return for his board writ
ing up the blacksmith's books. After
going to school for about a year he got
situation in a country store, and many a
time he got up early in the morning to
study. He had an early fondness for
mathematics, and after a while thought
he would like to be a surveyor. He heard
OF man III Ulster county who was max
ing map of that county, and he went to
hlm and asked him if he did not want
some help. The man engaged him as an
assistant, agreeing to give him $50 a
month and pay his board bills. He re-
ceived at the outset only a sufficient
amount OF money to pay his railroad
fare to the point where he was sent.
His employer wanted him to 90
through Ulster county from house to
house, collecting information and getting
his board and lodging wherever he could.
1t was agreed that he should get trusted
for his accommodations along the way,
and his employer was TO follow soon after
ward and pay the bills. He stopped at a
country tavern the first night out, had
his supper, lodging and breakfast, and
told the landlord to charge it to his en-
plOyer. No sooner had he given his en-
plOyeTs name than the landlord eX-
claimed: "Why, don't you know that he's
no good. He owes everybody around
here, and he never pays anything. Come,
you nave got money and you must settle
your score. 1t is two shillings and six
pence" Young Gould explained that he
had not cent with him, and, much to
the landlords disgust, proved that he
was telling the truth by turning his
pockets inside out
AT this point Mr.. Gould hesitated, and
with laugh said to the committee: ''ThIs
is a silly lot of stuff. /"
''Oh, no, it is not" interrupted Senator
Blair, sit is very interesting. Go on"
'Well, after my rebuff from the land
lord. l had not the heart the next day to
ask anybody to give me any dinner. |
naturally felt timid about proceeding
further, and debated in my mind whether
had not better go home. 1 finally sought
Il secluded place where nobody could see
me, and had good cry. Then 1 went to
my sisters house, near by. and, going up
stairs, prayed. Here Mr.. Gould spoke
and with much feeling. After
ny prayer felt better. Then | made up
my mind not to go home. l shut my Iips
together and resolved to 60 ahead, and if
must needs be die in the last ditch. |
then went along the road, and the first
house came to | went in and asked for a
dinner, which | got. AS was leaving the
house the farmer called after me to do a
simple job in surveying for him. After |
had done it he asked me what my charges
were, and l said nothing, but he insisted
on giving me dollar, which, after paying
one shilling for my dinner, left me with
seven shillings in my pocket"
Encouraged by the farmers kind words
and financial aid, Mr.. Gould went on and
the map of Ulster county. He
made 5000 out of the map, and with that
capital undertook similar SURVEYS of AL
bany and Delaware counties. He was
successful, and by the sale of the maps of
those counties he accumulated about So
O0O. About that time Mr. Gould went TO
Prattsville and met ZadOc Pratt, for whom
he had previously done some surveying.
Mr.. Pratt wanted him to go into the tan
merry business, and sent him into Pennsyl-
wanna prospecting for a site. He went
along the line of the Delaware, Lacka-
wanna and Western Road, and found some
land which he thought would suit. Mr..
Pratt and himself employed about 90 men
and built their works. They were quite
successful, and after a while Mr..
Gould sold out and came to New
! ork. Then the panic of 1857 came,
and the failure OF Charles NJ,
Leupp, in the ''Swamp," cast a damper
upon the leather business. Properties
deprecated in value, and Mr.. Gould
bought on credit, the bonds of the Rut-
land and Washington Railroad at 10 cents
on dollar, he took charge of the road,
and was It's President, Treasurer and
General Manager. He conducted the
road until its consolidation with the
Rensselaer, and Saratoga Road, when he
was able to sell out his interest at large
profit. subsequently he took a large in
Ierest, held by a friend, who was finan-
eially embarrassed, in the Cleveland and
l'ittsburg Railroad, and held it until he
was able to sell it to advantage, Mr..
Gould explained that he became a large
owner of Union Pacific stock in cOnse-
Iuence of a misunderstanding with per-
sons interested, and also owing to
The illness of Mr.. Horace Clark.
who was at that time in
Chicago. The Union Pacific was then
n bad way. Its stock went down TO 15
cents on the dollar, and the only thing the
witness could dc to save himself was to
lold on to what he had. He also felt en-
outraged to buy more. He made up his
nind TO try and build up the road, and he
vas successful. 1t soon paid dividends.
. After the road had become financial sue
;ess," said Mr.. Gould, 'sthere arose a
great clamOr that this was .Iay Gould's |
Dad, as though that was a dangerous
hing. / thought ii was best to bow to !
public opinion, and [ took every oppOrtu. |
lity to place the stock in the hands of in |
Testors. In short time, instead of 90 or
70 stockholders, there were between 6.OOO !
md 1000. Among the stockholders were
many WIDOWS, orphans and poor people.
me stock rose u or 90 per cent. in value
utter L let the outside public in."