The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-03-14
DO RICHES COME ArFoRTYq
A Statement that Wealth in America
Follows This Rule.
From the Ne,c York sun.

FOllO W . i LIS plAAo.
From the Neie York sun.
One of the brightest young men in public
life said the other day that he was going to
make his everlasting fortune some day
when he grew tired of politics but there
is plenty of time for that" said he. 'Do you
| know that it is almost rule in this coun-
try that men do not make their fortunes
until they are 40 years old or older The
grand exception TO the rule is Jay Gould,
but the contemporary fortunes were nearly
all made when their founders were at or
beyond middle age. Commodore Wander
bilt, John Jacob Astor, A. I. Stewart, and
all the others prove what say"
The reporter to whom this was said turned
over the pages of the biographies and other
works of reference at his hand, and found
enough in them to warrant the assertion
that at least a great many rich Americans
have been beyond 40 years of age when
| they have accrued riches. Certainly the
richest body of men in the land, the Unised
| States Senate, is composed of elderly men;
| but in the lower house of congress we see
millionaires. like William L. Scott and
| Stephen V. White, who look scarcely old
enough for the rule.
Alexander T. Stewart came here in 1928
| from Ireland. where he was born il 1903.
| He opened little linen store on Broadway,
and gathered wealth very slowly at first, as
most other men had done. He was prudent,
shrewd and original, and gradually became
heavy importer; but he was 45 years old
when he became able to put up the first of
the two great stores in which he afterward
| transacted his business.
Henry Clews is an example. He spent
| his early manhood as clerk, and when the
war broke out and found him a broker in
small way. he began to make money. He
| and his partner, Mr.. Livermore, who re-
tired at the close of the war with 100000,
! jobbed in certificates Of indebtedness, and
| laid the basis of the wealth which Clews
afterward accrued. He failed, but further
demonstrated the rule by making his way
over again, as Henry Willard has done.
Henry Willard is 55 years old. He came
here from Germany at 20 years of age, and
sold subscription books at first, then became
an irregular writer for the press. He
studied law later, but gave that up and
| adopted journalism as profession. He was
Al years old when, in 1874, he began the
great Oregon railway operation that made
him wealthy. Nine years later, when the
! famous golden spike was driven through
Northern Pacific railroad sleeper, he was
worth $5,0O0,000. He impoverished him
self in trying to sustain the value of his
property, aud went under. Next, at more
than 50.years of age, he rose again as a
financier.
Warne Miller is so years old. Beginning
in the humblest way, he managed to organ
ize a mill company, and worked sixteen
| hours day for ten years to make his
fortune. He was past 40 when his bank
accounts showed him that he could afford
| to take the world more easily. He is a
millionaire now. Levi P. Morton is about
63 years old. Twenty-Five years ago, when
he was 80 or 80, he founded his nanking
house. He was 81 when his wealth enabled
him to devote part of his time to ublic
! IS w WI 10
established his London house in 1868, and
soon afterward went into the syndicate for
funding the United States debt. He was
past 43 then. Charles Crocker was past 40
when he began to be millionaire. Edward
F. Jones, the rich scale maker and Leuten-
ant governor of this state, was born in 1928
| He began his business career at the close of
| the war. and was long past 40 when he
became rich. Henry B. Courtney, the mar
BILE millionaire, now dead, started with $50
in 1858, when 80 years old. He was beyond
middle life when he got his pile.
John B. SlawsOn, the car-fare box in
ventor, was % years old when he went to
New Orleans III 1910 from this state. There
he slowly made his way up ward. But for
the war he would have pushed his invention
at 46 years Of age, but he had to wait and
he was past so when his big money began to
pour in. His friend Stephenson, the horse
car builder, also millionaire, had to wait
|
the elder Bennett of the Herald, so did the
Hon. Oswald Ottendorfer, and so did the
late Marshall o. Roberts.
Jay Gould's early life was a failure, but
this phase Of it was very short He was
born in 1881, and went into specializing ia
railroad stocks in 1859, when he was only
% years old. He was very successful, and
made use of the war, when it broke out, to
give large returns on small or shrewd
speculations His 10th year found him. in
his present opinion, only starting in life,
but the world already knew him as a master
money maker, for he had been more than
three years president of the Erie railroad,
aud his associate, Fisk, had startled America
with his share of the partnership.
Samuel j. Tilden made his first consider
able money as a lawyer, but he was more
than 40 years old before be put other aspi-
rations aside for the time and began that
devotion to his profession which was
quickly distinguished by his connection
with the greatest law causes of the day
as a candidate for attorney general Of the
state. After that came his greatest legal
triumpbs, and after them his still greater
financial operations.
The Standard oil fortunes nearly all
prove the rule Mr.. Rogers made his share
of that pile while younger than 40 years
old, but Messrs. Rockefeller, Starbuck and
Flagler were beyond that age when they
grew rich. In Philadelphia George w.
Childs is probably an exception. He is
only 90 years old, and has been rich more
than twenty years; but John Wanamaker
only began the making of his fortune in
1876, when he was IS years old He was
nearer so than 40 when he became really
rich. He is 81 years old now.
Augustin DAILY is 50 years old. He was
"a when he began his brave struggle with
the dramatic company that is now world
famous. Wealth did not reach hi n till lie
was beyond 40. The ministry contain S
numerous examples that are to the point.
The Rev. DR.. John Hall was 80 years old
when he came to America on the mission
that introduced him here. He was 80 when
on his return to Europe, he recei. ed and
accepted the hattering offer that made him
the recipient of salary which professional
men consider the making of a fortune The
Rev. DR.. Talmage was as old when he be-
gan to feel comfortable; so was Beecher; so