The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-09-27
FROMPOVERTY TOPOWER
HOW MANY OF TIE RICH MEN OF
NEW YORK STARTED IN LIFE.

Menial Positions - By Thrift and
Pluck Won Wealth and Position.
/ At d rough estimate 80 per cent Of the
rich men Of New York city can honestly
affirm that their wealth is an absolute de
monstratioE that nowhere in the world has
labor better chance or is more gloriously
rewarded than In America. The opportu-
mites seem to be vaster now than they ever
were before. The rich men Of to-day unite
without dissent in the opinion that the
United States is about entering upon a
career of prosperity which is beyond the
dream. beyond the possibility Of the most
vivid imagination fully to contemplate.
In scientific Developments, in agricultural
directions, in the realization of the enor-
nous wealth which lies under the soil aud
on top of it, and in the further conquests of
the forces of nature, so that they will do
the work of men, the twentieth century,
which is so near at hand, will record
achievements which will be stupendous,
says correspondent of the Philadelphia
Press. The young men who are now work
ing with their hands. who possess industry,
patience, sobriety and concentration of
purpose, cannot fail to win the most sub
stantial and splendid of victories. Tha: is
the opinion of every one Of our rich men
who are now passing along toward old age
and have been their own successes, with
whom have talked this week.
In looking into this matter suggested by
the resolution Of tine workinRmen, / find
that at least so per cent. OF our successful
merchants here began life with little or no
capital. The majority of them earned their
first money in the humblest Of service. They
were workingmen whose employment was
such as to qualify them to join trades or
CARNATIONS. Let us take a few examples:
On Sixth avenue, for instance, there are
some seven or eight enormous dry goods
houses. They do business, each of them,
of several millions year. The proprietors
are all men of wealth, yet in every in lance.
L am told. these men, when young, had
nothing but health, sobriety and industry
as capital. One of them was a porter, one
Of them a cash boy, and the others were
employed in capacities which brought them
in but a few dollsrs week. The business
capacity which they developed was no
special natural gift, but was due 10 training
discipline aud concentration of purpose
The house Of Lord 81 Taylor, which has
passed into other hands, owing to the death
of the original proprietors, began its career
as little bit Of a store down town, ami the
original partners worked harder than any
slaves for years. Edward Ridley, vino
created an enormous business here, began
his business life with less than 81 900, which
were the savings Of several years of hard
work and extreme self-denial he died a
few years ago, leaving an immense business
to his children and a great fortune as we'll
One of the older brokers on Wall street,
to whom l went for information, after
thinking for few moments, said that with
three or four exceptions he believed every
successful broker on Wall street had begun
life without dollar, and had by devotion
Nx<k ..-s ,k,- 49,
pose and regularity of habit finally
achieved financial Independence. In every
case these men were workers; many of
them began as Office boys. One of the
wealthiest of the brokers earned his first
money as peddler. Stephen V. White was
a farmer and teacher. Jim Keene was a
laborer in the mines. Russell Sage was a
grocery clerk in Troy. Commodore Bate
man fifteen years ago was a treasury clerk
in Washington at a salary Of 81 900 year,
| and before that had been connected with
the navy in some subordinate capacity.
Jay Gould, as everybody knows, began
| his career as book canvasser and Deddler
of mouse traps. William r. Grace was a
runaway Irish lad who got his first en-
| ployment in Peru, in an almost mental ca
pacity, in a ship chandlery house.
And 50, going through the list of success
| full business men and capitalists, on and
near Wall street, it is found that nine out
of every ten of them began life as a laborer,
with no other capital than the natural gifts
with which Providence had blessed them.
The same assertion is true of the majority
of presidents of banks. Arthur Williams
who Is at the head of the most successful
banking institution in this country, and
| with but few equals in the world-the
| Chemical national bank-swept out the old
| bank building and acted as porter an6
| general chore boy for some years. Thomas
l.. James, the president of the Liucoln bank
was a typesetter in a country village in the
| central part of this state. Mr.. Hard, presi
| dent of the Chatham bank, was a clerk
| absolutely dependent upon his salary Johr
| Jay Knox, president of the bank of the Re-
public, was farmers lad in Herkimel
| county, New York. Mr.. st. John, the
president of the Mercantile bank, was 6
poor boy from the south. John Thompson
the ex-president of the Chase bank, and ON,
of the fathers of the national banking sys
tenn, was an Office boy at So a week salary
| and so on the list could be still further ex
| tended.
| 1t has been found, too, that with two o.
| three exceptions, the best bankers wer
those who began life without dollar. II
| some few cases, like that of j. Pierpon
Morgan, with inherited wealth there ais
came great banking ability. But it is SAT,
to say that the great majority of our sue
cessful banking men have indicated in thei
career what seems to be almost an axiom il
this country; and that is, that the bes
vigor and most notable successes are foun,
to be in the possession of those who hav
demonstrated the power of labor here t
win victories.
Perhaps the most significant illustration
is to be found in the careers of successful
railroad men. There are few cases, Xix
those of the Vanderbilts and the CARROTS
where railroad properties and railroad con
troll have come by Inheritance, but the ex
ceptious of this sort will not amount t
over per cent. The great body of success
full railroad managers. both mechanical an
financial, sprang from poverty.
The story of these careers is so strikingl,
similar that it almost seems that it is tn
law OF railroad development that the me
best competent to handle this new develop
ment of civilization are those who com
from the ranks Moreover. it Is an axior
in the railroad business that it is imposslbl
to keep down men whose perseverance an
ability merit success. A laborer on one c
our railroads who demonstrates capacity ca
no more be kept at dead level than th
barometer can be kept from rising when til
atmospheric pressure is increased.
few EXAMPLES will show how true thi
statement is. Vice President Clark. who i
really the financial power that controls tn
New York Central, was a laborer, think
on the old canal; he determined when la
to master his business, and, having master
L IL