The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-09-10
FIRST TRIP OVER THEL|NE.
Jay Cooke, the Creator Of the
Northern Pacific, on His
Way West.
Something About the Man Who
Projected the Great Trans
continental Road.
He Will Visit the National Park and Hell
ena-Prosperous Times for the Coun-
try Predicted.

Jay Cooke, who might be called the
creator of the Northern Pacific, is on his
way to the northwest. Though seventy
years of age, he is hale and hearty, and
with his sun-browned face, white beard of
patriarchal length and plain dress, the
great Philadelphia. banker looks like q
prosperous farmer. He did not lose all his
fortune in theo crash of 1878, and ia yet in
the banking business. Monday he left
Chicago for the Yellowstone Park, and
after a week or so there, he will continue
on west, stopping in Helena in ell proba-
bility.
Although Jay Cooke was to a great extent
the creator of the Northern Pacific railway
system, the present ia his first trip over the
road. When Nh. Cooke. in 1863, planned
the Northern Pacific road his ambition was
to build a line Of railway that would con-
meet Lake Superior with Puget Sound. His
project was tremendous. He organized the
company and found that an immense sum of
money WAS needed. Bonds to the extent of
$50. O00, 900 were subscribed for by German
and French capitalists. Before the money
had changed hands tho Franco-Prussinn
war broke out and the purchase Of the
bonds WAS never completed. Mr.. Cooke
himself advanced some &c. 600 on the
bonds, and when the panic of 1873 upset the
finances OF the country he was unable to
weather the storm. His connection with the
Northern Pacific was severed. The road
was built, but not according to Mr.. Cookies
plans. It stopped 200 miles short of Puget
sound, transferring its traffic at that point
to another road. Mr.. Cooke did not like
this cu1tailment Of his idea and said he
would never ride over the road till he could
travel by it from Lake Superior to Puget
sound. The last western division of the
road has been completed, and Mr.. Cooke
is making his first trip over the Northern
Pacific.
Jay Cooke to the younger generation ia a
link connecting the present time with the
dark days of 1861. The war was raging and
the federal government was without money.
Bonds were issued. but could not be sold.
The bankers of Nsw York, united could
take but $50, 0oO, 900. Jay Cooke was ap-
pointed the governments financial agent,
enormous sum of $4,000, O0O. 600 Of United
States bonds in the financial markets Of the
world.
While in Chicago he had this gay about
the business outlook:
IL look forward to Il long term of i'm
menas prosperity for tho United Btates,'
said Mr.. Cooke. II believe We arc now Al
the beginning of an era which will mark til.
advance of our country to the rank of the
foremost commercial and financial nation
of the world. For years the United State,
has been drained annually of millions o.
gold, which was sent abroad TO redeem OF
lepurchRse the securities, both public anC
private, which were sold to foreign capital
ists in the times Of our financial depres
Tions. Ever since the beginning Of the wal
this has been going on. 1t is now abou
ended. The United States indebtedness I,