The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1883-09-08
jay Gould's Autobiography.

morning to testify as to the relations
between capital and labor. A large
audience was in attendance. AS Mr..
Gould delayed his appearance the
committee heard the statement of
George w. Weston, a lawyer of this
city, who appeared in opposition to
Henry George and James Moody.
Just as the witness Was beginning
his testimony Gould entered. Wes-
ton merely stated that the tendency
to monOp Olize land now was not SO
great as it was one hundred years
ago in this country.
Gould then took the stand. On be-
ing sworn, Senator Blair requested
him to give a history of his early life
and first business ventures, and then
60 on and give the. story of his pro-
gress to his present condition. Gould
seemed to be somewhat staggered at
this request, but turning with a smile
towards the reporters table, he be-.
gan in low voice: II was born at
Roxbury, New York, May q. 1885;
my parents had q small farm a1d
kept twenty cows which assisted in
tending. I attended school about
fifteen miles distant and when 1 was
about fourteen years old I obtained a
situation in q store in q neighboring
village. I was much interested in
mathematics and used to get up at
three o'clock in the morning and
study to six o'clock when the store
was opened. I remained in the store
two years when made the acquaint-
ance of q surveyor who was making
the surveys in Vester county. He
took me into his service at salary
of of twenty dollars a month. l
learned that my employers credit
was not very good and as [ was not
to obtain my money for my work un-
til the map was completed 1 made
sun dials for the farmers at one dol
lar apiece to pay my running ex-
penses. I made surveys afterwards
in Delaware and Aibany and ma e
about $1,000. I then went
into the tannery business.
The first railroad with which
I had any connection was what now
is portion of the Rensselaer, Il Sar-
atoga, of which 1 was superintend-
ent during the panic of '59. Stock
went down very low and was able
to buy in a large amount OF stock
which afterward became valuable,
and made a handsome profit. The
next road in which Gould said he in
terested himself was the Cleveland q
Pittsburg, which he afterwards leased
to a Penns' lvania road. Gould then
rehearsed over his connection with
the Union Pacific road. AS he had in
terested himself in it and stock was
falling, he made up his mind to carry
it through at any cost. 1t was on
the point of being placed in tht
hands of a receiver. Afterwards,
when the road became paying one
and dividends declared regularly,
there was a great cry from the public
that it vas Jay GOuld's road, as If
that was a dangerous thing He
said, however, that be was engaged
In selling out his stock, which was
soon in other hands.
The earnings for the past month
was SIS, 900. In building up this sys:.
tenn the northwest has been opened
up and the country thrown open to
civilization. MIR. Gould stated that
he was a director in the G. 4 N. W.,
Chicago & Rock Island, d. l.. d w.,
New York d New England, and sew
eral other smaller lines. Incidental
to his railroad interests he had be-
come largely interested in the tele-
graph business. This was on ac-
count OF the intimate connection be-
tween the two industries. He was
instrumental in starting the Amerl-
can Un on line to make u competing
line with the Western Union. He
found that it would be impossible to
accomplish this on account OF the ex-
tent of the latter's connections. he
then turned his attention to getting
control of the Western Union by
buying stock when it Was low. Find.
ing it a paying investment he had
been constantly increasing his inter
est His object in securing control
of the Western Union, was to make
his friend, General Eckert, the man
ager. as he had great confidence
in his bus ness abilities. The rail-
road facilities which W. re now ac-
uuired 10y the Western Union are IN
valuable and it is impossible to esti-
mate their value.
Can you give us your opinion as to
the practicabillty of the Government
Postal telegraph which would take
the place of the present system?
Mr.. Gould-I think the institu-
tions of the country are opposed to
any such thing as that, replied N1r.
Gould. Telegraphic business, more
than other, requires to be managed
by experts, and the dividends of the
Western Union are Obtained because
# does the business well, Under q
government systt m the whole man
sgement of these great interests
would be subject to change by the
nart;cular political power then in
nower. Mr.. Gould also thought that
the mail service would be better ac-
complished by private enterprise
than by the government. he
would not object to govern
ment taking hold of the telegraph
system of the Western Union If 1t
would pay for it " hat it was worth
on fair appraisement, but in his oPln-
ion it would not be success. UNI
form tariff could be secured under q
nrivate enterprise as we'll as under a
Government supervision, and the
Western Unions policy tried to ac-
eomplish this in New York state.
Where there is a uniform system of
rates there could be no lasting COM
petition against the Western Unlon'
on account of its great facilities.
When there were powerful rivals the
rates were not reduced, because the
c.mpetition was obliged to charge
the same rates as the Western Union
in order to live. Thought the gov
eminent had right to fix limit be-
vond which the profits of the COM
nanv could not 60 so long they were
hot unreasonable, but it had no right,
under republican institution, to take
away private property from its citl'
zsns without Just compensation.
The Western Union Company, ne
thought, paid mere attention to It's
empiovts than any other company
he was connected with. The recent
strike in his opinion, was the result
of a feeling of dissatisfaction on tne
~ nart of the oorer class of employees:
The better class Of workmen' az q
general rnle, did not care SO mucn ne
4 b