Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1888-06-26
Hon. L. p. Morton.

Levi Parsons Morton, the republican
candidate for vice president, was born at
Shoreham, Vt, on May 10. 1924. His
father was the Rev. Daniel o. Morton, a
Congregational minister, of small means,
and lineai descendant of George Morton.
who came to this country from England In
the ship Ann In 1923.
He was given q common school educa-
ton, began his business career as a clerk in
. Concord IN. H. dry goods store, and
rapidly rose In position. In 1850 he was
made . member of the firm of Beebe,
Morgan & Co.. merchants of Boston, and
In 1854 he moved to New York, where he
established the firm Of Morton & Grinnell,
which firm became financially involved at
the beginning OF the war, and compounded
with Its creditors at fifty cents on the dol
.ar. Mr.. Morton went to work again and In
few years. though not in any sense legally
bound TO do 80, paid bis old creditors their
claims In full with interest In 1868 he
founded the banking house of Morton, Bliss
d Co., In New York. with that of Morton,
Rose d Co., In London, as correspondents.
These two banking houses were largely in
strumental in making resumption Of specie
payment In the United States possible, and
In enabling the government to fund the u.
8. debt. The syndicate formed for this
purpose was headed by Morton, Bliss &
Co., and thsn followed the names of Drexel,
Morgan & Co., Barring Brothers & Co., j.
s. Morgan & Co., Jay Cooke & Co., N. Nj.
ROthsebild & Sons and Jay Cooke, McCul-
lOch & Co. The credit of the Government
was low at the time. but the firms named
above successfully fioated large issue of
hve-per-cent. bonds, thus decreasing the
rateOf interest on the mass of the bonds. 1t
has been estimated that the various banking
firms by their action at this time saved the
Government S70,000,o00. The firm of
Morton, Bliss & Co., has since been one Of
the most conspicuous in Wall street.
Mr.. Morton entered into political life In
1876. the republicans Of the Eleventh con-
gressional district having. much to his sur
prise, nominated him as their candidate.
Though defeated. he greatly reduced the
usual democratic majority, and in the same
district In 1878 he was elected to congress,
receiving . majority that exceeded the
whole vote of his opponent In congress
he took commanding position whenever
financial questions were under discussion.
His course was marked by indie
PShtSheO VI lda6mOut huu
Grafton. In 1850, members of the Ohio
delegation ut the national republican con-
vention, after General Garfield had been
nominated for president, urged Mr.. Morton
to accept the nomination for vice president
He declined. and General Arthur was nom
mated for the Office. President Garfield
offered Mr.. Morton the office of secretary
OF the navy, which the latter declined. He
did accept from President Garfield, how
ever, the appointment of minister to
France. These honOrs President Garfield
desired to confer as . reward for Mr..
MOrton's faithful and effective work for
himself while the contest for the presi-
d ;ncy was In progress. He proved to be a
very popular minister, maintaining his
position with dignity and liberality that
was gratifying to all Americans who had
reason to travel abroad. His house quickly
became the one place in Psris, where the
leading politicians of France, royaiist, re-
publican and radical, could socially meet.
The diplomacy of the United States was
much smoother by it. With the coming into
power of q democratic administration at
Washington, he, Of course, returned home,
and since then has held no office.
In January, 1885, Mr. Morton wss
candidate for United States Sena-
tor before the republican caucus. Mr.
Evarts however, was nominated and elected.
Mr.. Morton Is very rich man, but, unlike
many millionaires, he has made himself
extremely popular by his numerous gifts
| to the needy poor. A striking instance Of
this was In 1888, when he spent a small
fortune, In conjunction with j. G. Bennett
and others. in fitting out the ship Constel-
istion with provisions for the starving poor
| in Ireland. He Is also reported to have
been liberal contributor to republican
campaign funds.