The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1908-02-20
FINANCED CIVIL WAR.
How Jay Cooke Saved the Union by
the Use of Printers Ink.

ma canal bonds to the people, and
they were Immediately taken up, the
public looked on the proceeding as a
regular one in national finance.
As a matter of fact it is relatively d
modern idea. The first man who did
This. Jay Cooke, but recently laid
down lirc's work
Jay Cooke was a financier as bold
and ingenious as any country eYel
produced He was giant among the
nigmcs of Wall street. lie financed
he civil war placing loan after iCan.
Tor hundreds of millions each, when
other men we're so discouraged and
pcsslmislic they could do nothing t.
win the peoples money from its hidns
places. to be used for the support Oi
Vie government.
Jay Cooke was the pioneer in offer.
.Ng government bonds direct to the
people through newspaper ADVERTISING
she method by which many great loans
have been noatcd since his time
He was great believer in the
power OF the press. With him, as
with Napoleon, It was the fourth "S
tate. q power to be reck0ncd with.
When tn" treasury was given an.
'hUrity 10y congress in February, l"62
o issne $5OO,OOO,OOO bonds, payable
IN % years, but redeomable after HNt
years with interest at & per cent
'htre was not a man at Washington
not even the great Lincoln, who could
see q way clear to float them.
Cooke was appointed the govern.
mcnts subscription agent HIS cam
paigH for placing the bonds was begun
IN accordance with method which n'
used III placing all the subsequent Is
sues. 10 appeal directly to the people
through the press, to arouse then
PATRIOTISM, give them courage ana con
idenCo.
He was the first tinancicr Ill TINS
country who knew how TO talk ul-
reciiy TO IN" people.
NrFer before IN the history ol TINS
country or OF any olher ha" so Erea'
i press v""'p"'Sn pe'h lua"Su'"'eu "S
'h'' vi ''S '""Ne'
ADVERTISEMENTS were placeu III ever!
import" J"''l'a' Ill l"e ioF'h' SIAN
" '"''H was '''ll'I"Se" " TURN ou'
't''i'''S Su'teu 'C lne press Ill SeHeFdI'
va ''',''''' '''' 'oI'ICS' al III" 'IT WI 'l'''
''' ''',, '''". '''i"'i VI 'o'''i'''iO' anu
., '''"9 Vi 'ii' ne" oo"1'' ""''"
80 "',"" ,,., Il DO ,ne '--0''
'' "'''''''"'' ~ ''Ii' " ''' % vi ''''e.
NV" "to 'n,pio''" !" ''e eu''"'' anu
1'''" WV" ''ie','' ee'Ni'i7 t"e'" 'l9'''
III li'''.''S !'."''i7 ~ ''e SoNGl Il.
''',''''~ '''' l''''Ns III NV ''','
."'''''' A'"'u '''"' una w ''''e " ''''
~" ="
'-"'''iS > "'." GERMAN anu E''Sl'S'''
CIV 81. 'e"'e'' ~ ol' t"e o'o"' s.""m"
VI, '.''l, '''''i'' " "'''e oi'.ii'' ''c''lil
-, '.'' S.'I' 'i'''' Ut D ''0''''' ~ '''''''
D % 1850.
VI 'A'' |'''i 'C''' 10 'o-N"'
hto"h 'S press ""'N' ""'' '''v 'iiei'
VINO perform 1t DIS press agents
'he press agent, WHO V"uS Vi 'i"'eu
win 'ooNe' 81 Lar "' 'ne "eio u
'hah'e 'S 'o''Ce' 'iVu' 10 Nv" ''N'7
''1e'' '"o''I !" '''''
niiE' an" DIS Hooe9o"'' ~ '''C ''''iN''
a" I" '''' 'ne''' ''"' NAN" SCI
cooke aolI''S u use PI'n'e'S 'nN
SH' 'p@''eu ''Id' VI an ,''0 James VI
ms '''''t' t'e "'''" nv" 'U' wv 'I,> ~,
'h'h'' S'"'',' w ~ ~ ''''e' '-ls
N'!''"'"S'' Mn"N 'Iu7e ~ Il'.'N1 ' e,I'' ,.
t"'h' '''' '''' ''N W ,''''''F We. ''',i,l
S"1'" anu ''''''' ''',' w. "'' ''' '.I NV. w.,
"''' W '''"S " '"0 P''PN'' '''''
81 'l''" 'l'''i'''
'hIo"S" ."'Se '''''''' "e ., e"'lls' ..
,.'''' Il S','' a,. .",D ' on5 aa,.,d ,ho d",.
II,,'''' ~, :" n,ia,,I, 80 w ,,nnoid ,;n. ~, ao
''" Wv ,'''' '' aip'', ,n,>, ~ th,
,-''''',' " '',' ..',,Iia,. q, ~ "'O' " '''N
''''''''' 10 ~
Nhe Ut '''e must ."0o''>o VI Mi ~
S''3N9 q" ,i9S'''o"V' "pPN"' IA
t'e '',' III ~ n",M % 'l @ ''o'!''' % rn
I.4.n."
''"' Ni''''' a.
WI 'ooNe was '''N'N7 ~ ilien WIZ
han 'nSIr lioHeS l"ai "eu' e''eiiy III
S"id' "hlch was SeinnS a' d s'ea'
premium ne My" ',."' MS 'a'N i'''o'
Dc o'Tecl anu HIS o'ie' 'elllpIlhS u
oIlhg IHa' so'u "U' Vi ''S l'l''InS P'ace'
Ills broadsldc made great MT. In
teTcst was aroused IN the Oohd issue
by this means, as one OF hundred EN-
plnyrd to the same END, until the issue
was going like nor cakes
Mr.. Cooke followed up MS Best
way broauSlde with anoCher under
The head OF interesting COrreSpon-
dencc on the FlVe'IWenty Loan.
2'hIs afforded an opportunity, in the
form of letters, to bring out the A b C
N the loan. A supposed investor asked
questions about it, how much interest
1t paid. what kind of money would
be accepted in payment for the bonds,