The morning call., 1894-04-25
JESSE SELIGMAN.

be suffered 10 pass without tribute to his
worth and his virtues. Men live and die
and are forgotten; but the lives OF those
who have set shining example should be
c0mmemorated for the sake of the large
class of young men who, at the threshold
of life, are looking round for path to
tread.
Like many another Mr. Seligman found
himself, when he entered his teens. men,
Der of Bavarian family. which was poor
in money and rich in children. In 1S41,
when he was Il. be emigrated 10 this
country with two brothers, and after float
ing through more than one Eastern State
he joined the immigration to California in
1850. He had acquired some means, which
he had invested in merchandise; this he
placed in the only brick building in the
city, pEeferriDg to pay high rent instead of
high premiums of insurance. His judg-
ment was INDICATED. A fire swept the
stores of his rivals in business, and having
a monopoly Of his class of goods be was
enabled to sell them at his own price.
This was The foundation of his fortune.
Some time afterward be and his brothers
established a clearinghouse, which for a
long tine was prominent among our fnan-
cIal institutions. The Anglo-Californian
Bank was insugurated at later period and
has always taken high rank. at the out
break of the war, realizing that the con-
tlict would offer opportunities for intelli-
gent financial operations. he and his
brother Joseph founded the New York
house of J. and w. Seligman. Close con-
uections were established with CORE
spondenis at London, Paris and Frank
fort, and at the time the Government
began TO float its bonds the Seligmans
were prepared to do business in competi-
ton with the Rothschlds
Peculiar circumstances favored them.
The New York correspondent of the
Rothschilds, the late August Belmont.
was the chairman of the Democratic
National Committee, and was not in
hearty sympathy with the cause Of the
Union. The head Of the house of Nor
gans-now DrsXel. Morgan & Co. of New
York. ana j. S. Morgan & Co. of London
was also slow to believe that the Union
could be restored. Duncan. Sherman &
Co. lacked The foresight to grasp the inan-
cial opportunity. On the other hand, the
Seligmans espGused the cause of the Union
with ardor, and placed their means and
their facilities at Mr.. Chase's service.
They were rewarded by agencies for plac-
ing Government securities. which in the
four years of war enabled them to realize
a pTincely fortune, and raised their house
TO the level of the great banking houses of
the world. with q credit second to none.
What Jay Cooke might have become if
he had been properly ballssted they be-
came.
The two brothers, Joseph and Jesse. be-
came more than rich bankers They fig
ured among the foremost citizens of New
York. They became active members of
the Republican party. Their money was
freely lsvished on all patriotic enterprises.
They subscribed to outfit regiments and to
clothe volunteers. Their names were
found among the lists of vlce-presidents at
Union meetings. When Mr.. Chase wanted
help or advice he never went to them in
vain. Their sense of public duty survived
the war. and on questions which were not
necessarily political their counsel was con-
stantly sought and freely granted.
joseph and Jesse Seligman were born
gentlemen. Though they were the sons
of a poor farmer 10 Bavaria their manners
had the polish of men of the world, and
their conduct was marked by sense of
high bred honor. There was scene one
night in the stormy times succeeding the
war. when a great bank trembled on the
verge of failure. Joseph Seligman was
one of the directors, and that night he
faced a pugnaciOus throng Of dealers,
whose temper was hot and whose lam
guage was excited. He never lost his
suavity; he stood to lose large sum if the
bank failed, but his serene smile never
left his lips; he aeeosted bank wreckers
with perfect courtesy, and calmed irate
creditors with merry jest.
Jesse was one of the III ost public spirited
men in New York. he was contributor
to and director OF many charitable institu-
tions. but his pet charity was an ophthalmic
hospital, which was sustained by himself
and other wealthy Hebrews. On one oc-
casion, In one of the financial typhoons of
the times which succeeded the war, be
was at meeting to devise measures of re-
lief, and was looked up 70 for guidance.
While all was excitement, he pulled out
his watch and observed: Gentlemen,
am sorry, but | am due at meeting of
our hospital; you must excuse me-" Some
one asked him II that was hospital for
Jews? Sir" said MIR. Selgman, when
a sufferer comes to US. we do not ask him
what his faith is; we only ask if he has
sore eyes"