The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1883-04-13

road Company, as means OF geJJ'nB
the boats through the canal locks.
Mr.. Weltch was somewhat astonished
TO find that he had been anticipated
Ivy Peter Cooper nearly half a centu-
ry ago.
In early life, while Mrs Cooper was
preparing the frugal meals for the
family, Peter was required to rock the
cradle. His inventive genius soon
constructed a machine that not only
rocked the cradle, but kept off the flies
aud played a musical box for the future
Mayor of New York.
The great work of Peter Cooper's
life, which has endeared him to the
city of his birth, is his gift to the peo.
pie of the Cooper Union for the ad-
vancememeut of Science and Art
The corner stone of the Cooper
Institute was laid in 1875 at the juno
ton of Third avenue, Eighth street,
and Fourth avenue. The cost of the
building was S63O,OOO. The total cost
of building and education has been
about S2,000,000. Part of the expense
is betrayed by the rents of the stores
in the basement of the building, but
Mr.. Cooper's donations were constant
and sufficient to keep the institution out
of debt. His last gift was the erection
of another story at cost of 100000.
An illustration of his forethought is
shown in the fact that when the plans
of the building were made, about twen-
ty-five years ago, he caused a tower to
be reserved for an elevator, which is
now running. That was long before
passenger elevators were thought of
for general use.
Peter Cooper always took deep in
terest in all public measures of his ma
tive city. He was one of the foremost
promoters of the Croton water works;
he served in the School Boards and the
Common Colncil, and he was always
among the great powers behind the
throne. Yet, in spite of his past public
services, he never received but $50 OF
public money. This was his compensa-
ton when he was an Alderman, acting,
as the law then required, as an associate
Judge. He was one of the prominent
movers in the Citizens Association, and
contributed largely to the exposure of
the neiarious practices of the Tweed
Ring. Although always Democrat
in politics, he was never enough of a
partisan to support bad men because
they belonged to his party
His financial views as the candidate
Of the Greenback party for the Presi-
dency in 1876 were widely circulated,
and the literature of the subject is enor-
nous in extent. Although he received
but l,737 popular votes, he lost none
of his enthusiasm in the cause of what
he believed to be financial reform, and
he generally carried with him plenti-
full supply of documents for distribu-
ton. He never tired of saying that he
never trusted the banks, and that he
considered them quite unnecessary for
conducting sound business. He was
particularly opposed to the National
Currency act, and could never see why
the national banks should receive such
immense sums in the way of interest,
which, he thought, could be saved for
the people He believed that it was a
dire calamity that Congress refused to
make the national money receivable as
interest on the public debt and for du-
ties on imports. He also opposed the
contraction of the currency as an act of
financial suicide. He predicted that
the resumption of specie payments
would prove a failure, and did not fall
into the error of giving John Sherman
the credit for the good crops that made
resumption possible. He believed it to be
the duty of Congress to furnish all the
inhabitants of the United States a re-
deemable, uniform, and unfluctuating
national currency. He was not in favor
of All unlimited issue of paper money
; but believed that if the Government
should Issue money without discredit,
| ing it by refusing to take it for taxes,
the danger of financial fluctuations
would be largely diminished His idea
= was that such currency would be self
regulating, and that the natural laws
of trade would keep enough of it il
2 circulation ard prevent the use of toe
/ much of it. He believed in placing the
whole power of coming money or issu
t ing money entirely in the hands of tn,
= Government. He would require tn,
= Government to make this currency a
} all times, and at the option of the in
dividual, convertible into interest bear
= ing Government bonds. These view
Z he advanced in letters to the press, t.
>. public officers, to public meetings, il
+ speeches, and in conversation. He re
4 pudiated the idea that his ideal curren
$ cy was like the Continental currency il
/ any other respect than in its power t
t save the nation.
! Mr.. Cooper believed that the trump
d of his ideas upon the subject of Gov
n ernment would prove greater bent
: faction to his country than any Of hi
material gifts. One of his latest work
II was the publication during the presen
h year of volume of 400 pages entitle
J. "ldeas for Science of Good Cover
a ment, in addresses, letters, and article
b on strictly national currency tarif
II and civil service"
d Mr. Cooper was reputed to be yer
o wealthy man, but the extent of his fo
d tune is known only to his immediat
N family, He gave away millions to h
S relatives, besides the millions that |
s. gave to the Cooper Union. His ben
'L factions in other directions have bee
m enormous. People never tired of asl
n, ing him for money His daily ma
brought him bushels of begging letter
D. He was besought to engage in all sor
ne of wild schemes of benevolence, and {
N contribute to the most pressing indivi
ut ual needs. 1t would have require
e more than the labor of one person
he answer these letters, and many of the
'd went unanswered. But many of the
a met with success. He was literal
lg giving all the time, How much mon'
by Mr., Cooper did make will probab
sc never be known to the public. He l
'n served something for himself as
er source of income for his running e
he penses, but it is said to bear no consi