Omaha daily bee., 1902-07-23
poYHoop DAYS OF GAGE.
Former Secretary of the Treasury
Tells How lie started In Life.
Lyman j. Gage in August Success.

eAN 49, ~ nv ZIG NY bNlhuA
days ended when l was IA years old, and l
began work as q mail agent on the Rome,
Watertown & ogdensburg railroad. l do
not mean to say that when 1 stopped school
my education ceased. for II was after 1850
that my character received its greatest de-
yelopment. ! was but poorly satisfied with
my work as mail agent, although 1t taught
me much that l didn't know before, and |
kept my eyes open for something better.
In a short time. the death OF the president
OF the United States resulted In the loss
OF my first position. The village post
master was removed from once, and, Of
course, my dismissal followed. This was
discouraging. but l re-entered the village
academy to pursue, for a time, my studies.
There was in our town a small bank, and
this institution had always possessed q
fascination for my youthful mind. used
to watch the merchants going In with bags
OF gold and bundles of greenbacks, and
coming out again with only account books
in their hands. l knew that the bank had
some connection with the government, and,
being greatly impressed with Its dignined
appearance and the actions Of its officers, 1
was seized with a desire to work within its
walls. When ! applied for a position I
learned that there was no likelihood Of a
vacancy occurring In the near future; 10,
when I was offered a place in q local sta
tionery shop at a salary Of 800 a year I
accepted with alacrity. The wages were
small, indeed. but in his shop I was priv
ileged to become acquainted with general
literature, and spent many hours with the
great authors. So the months with the
stationer were not without profit.
After a time there was q rival bank es-
tablished In the town. and 1 was offered
the position Of messenger and general as
sistant," at the same old salary of 500
a year. I didn't hesitate, but left the store
to enter the bank. and SO began my career
In the financial world. My duties as gen
eral assistant" were many and varied. I
was ~tanitor, first Of oil. and attended to
the heating OF the building. / made many
trips every day to the cellar for coal, and
l used to think the officials most extrava-
CANT when they insisted on a FIRE when
the days were comparatively warm. 1 was
obliged to keep the front sidewalk clear
OF dirt In the summer and Of snow in the
winter, and had to sweep the floor Of the
banking room daily and dust the desks
and furniture frequently. Az the mes
senger" Of the bank. l was sent around
town with notices of notes which had fallen
due, and with drafts which had been sent
to the bank for collection from other cities.
All these duties kept me fairly busy, but l
still had time to learn something Of bank
ing as q business, and of the transactions
which took place behind the counters. As
the business OF the bank increased, the
teller and the bookkeeper welcomed my
assistance in their departments; and, when
summer came, and there were no fires to
make and no snow to shovel, / had oppor-
tunity to learn most Of the details of the
business. After a while I was intrusted
with the work OF the teller or OF the
bookkeeper when either was kept at lone
by illness, and at the end Of my first
year I felt that I was indeed "cut out for
q banker" had so good an opinion of
my accomplishments that / demanded OF
my employers an increase Of salary for my
second year. They replied that I was re-
Immediately resigned.
At this time, nearly every boy in central
New York had the western fever" and,
after I left the bank, 1 developed a very
bad case. ] determined to start for Chi
cago to make my fortune, and arrived
there one day in 1855, with few dollars and
no friends. l had my mind made up to be
a banker, and supposed that 1t would be
easier to find an opening in the western
city than 1t had been In my native village.
But when / made the rounds, l found that
no embryo banker was needed. l could
not afford to be idle, SO I determined to &C
cept the first position which should ofer,
whether or not 1t was to my liking. 1t
does not pay for a young man starting in
life In a strange city to be too particular
about what he does for a living. / soon
found a place as bookkeeper for a lumber
company. The panic OF 1857 affected even
bookkeepers, however: and. when the firm
found 1t necessary to reduce expenses, I
gladly accepted appointment as night
Waterman.
I had been In Chicago three years before
good fortune seemed to come my way. I
had visited every banking house several
times in search Of a position, for I was
convinced that banking ought to be my
career, and l was a familiar applicant to
ali the officials. On the Sd Of August, 1858,
a date / shall always remember. I was
summoned to the ONCE Of the Merchants
Loan and Trust company, where my name
was on file as a candidate for any position.
however humble. Can you keep a set OF
books p asked Mr.. Holt, the cashier. "I
can try was my answer. THAT isn't
what we want" said Mr.. Holt; "can you
do lit" II can. II It can be done in
twenty-three hours out Of twenty-four,"
replied. and I was thereupon engaged at an
annual salary OF $500. After working so
long at uncongenisl employment with low
wages, this opening made me very happy.
I felt that my future was assured, for I
had obtained, at length. the long-desired
standing room in a Chicago bank.
The story Of my further progress can be
of little interest to those who are beginning
life in the financial world. My early prepa-
ration In the New York village was most
useful, and, since I had also benefited from
my experience with the world, my position
was secure. II a young man has some
preparation for his work. II he secures a
proper opening and II he behaves himself,
there can be no question Of his future. In
two years after I entered the service Of the
Merchants Loan and Trust company I was
given the position OF cashier at an annual
salary OF $4,000. and naturally I was en-
couraged to md that my efforts were appre-
ciated. I enjoyed my work and was more
convinced than ever before that banking was
the career for which 1 was best lifted by
nature.