McCook weekly tribune. (McCook, Neb.) 188?-1886, 1883-09-13
Jay Gould's Testimony.


Blair and Call waited patiently for Jay Gould
| to appear before them this morning to tes-
| tify as to the relation of capital and labor.
There was large audience in attendance.
AS Gould delayed his appearance, the COM
mittee heard statements from George w.
Weston, a lawyer of this city, who ap-
peared in opposition to the theory of Henry
George and Moody. Just as the witness
was beginning his testimony Gould entered.
Weston merely stated that the tendency to
monopolize land was not SO great as it was
fifteen years ago in this country.
Gould then took the stand, and being
! sworn, Senator Blair requested him to give
history OF his early life and first business
adventures and then go on and give the
story of his progress to the present time.
Gould seemed to be somewhat staggered at
this request, but turning with smile to-
wards the reporters began in low voice by
saying:
Twas born at Roxbury, Delaware county,
this state, May 9th, 1896. My parents had
small farm and kept twenty cows, which
assisted in tending. I attended school
about fifteen miles distant, and when was
about IA years old obtained situation in a
| neighboring village. was much interested
in mathematics, and would get up at 8
O'Clock in the morning to study to 6, when
| the store was opened. I remained In the
state for two years, when l made the
acquaintance Of surveyor who was max
ing q survey of Ulster county. He took me
into his service at salary of $40 month. I
learned my employers credit was not very
good, and / was to obtain no money for my
work until il was complete, so l made sun
dias for farmers ut 81 apiece to pay my
running expenses. made surveys after
wards in Delaware and Albany counties,
and made in these contracts about $500. l
Prattville, and finally entered into partner
ship with Chas. n. Luff, who committed
suicide.
The first railroad with which I had any
| connection was what is now portion of the
Rensselaer, and Saratoga. During the panic
of 1859 the stock was down very low, and
was able to buy large amount of the stock,
which afterwards rose IN value and made q
handsome profit. The next road in which
Gould was interested was the Cleveland &
Pittsburg, which he afterwards leased to the
PENNSYLVANIA road. Gould then rehearsed
his connection with the Union Pacific road.
AS he had interested himself in it and stock
was falling, he made up his mind to carry it
through at any cost. 1t was OH the point Of
hoiy in, no IF
| Afterwards, when the road became a
paying one and dividends were declared
| regularly, there was q great cry that
| this was Jay Gould's road, as IL 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
seven thousand investors, representing the
earnings of many widows and orphans. This
ended his connection with the Union Pacific,
| and the stock is now higher than he sold it.
The next venture was the building of the
Gould railroad system In the south and west.
1t began with the purchase Of the Missouri
Pacific from Commodore Garrison. Other
roads were purchased and connections made
to different points. Gould said he had at
this time passed the point where money
making was an object, and his only idea was
in carrying out the system, to merely sec
what could be done by combination of lines
Low spread through Ohio, Illinois, Indiana,
Michigan, Missouri, Arkansas, Indian Ter
ritory, Texas, Louisiana and Mexico.
There are central connections at Cincinnati,
St. Louis, Chicago and New Orleans. All
the construction of this system of roads was
completed last year and represented about
| 10, 900 miles Of road. The earnings Of the
! lines, when he took possession of them, was
| about $40, 900 month.
In building up this system the southwest
was opened up and thrown open to civiliZa-
ton. Mr.. Gould said he had started the
/ American Union as o rival to the Western
Union, but found it could not be done, ow-
ing to the latter's connections. He then
bought controlling interest in Western
Union. Regarding the prospects of tho
government instituting postal telegraph
system, witness said the idea was opposed
to American institutions. He said the tele-
graph business, more than any other, had
to be managed by experts, and the Western
Union only succeeded in earning dividends
by doing business well. Under government
system the management would be subject to
great changes.
Mr.. Gould said Western Union paid It's
employees better than any other company, in
his opinion. The. strike was the result of
feeling Of dissatisfaction among the poorer
class of employees. The better class of work.
men did not as a general rule care so much
how many hours they worked, as they were
continually hoping for higher position and
wages. Labor and capital, if left to them