The Washington herald., 1908-08-30
Morgan has plenty of cOmpanyJacob H. Sch decorated by
the MikadO; James A. Stan, Frank A. Vanderp George
W. Perkins, august Belmont James Speyer Isaac NJ SeLg
man. John j. MITCHELL and Henry Lee HgginSon.

the rest Illustrate how it is possible in
America 70 climb far Up the ladder Of
banking with no aid except ones own
/ ability and initiative. VanderIip. for ex-
ample. before he made his banking repu-
tation as Assistant Secretary Of the
Treasury, was a machinist. a stenOg-
rapher, a newspaper reporter and finan-
ciaI editor. and then private secretary 10
Lyman J. Gage when he was placed at
the head Of the Federal Treasury. The
Old World parents OF Jacob H Schif
were 50 poor that they could not afford
to give the boy a thorough schooling, and
in his early teens he became an appren-
tice in a dry goods house Three years
later he embarked or his banking career,
when he became a pOOrly-paid clerk in a
very small banking house in his home
city
The elder Forgan brother. James B.
was only too glad 10 embrace the oppor-
tuniJy. when 1t came 10 him. OF entering
the Royal Bank OF Scotland in an ex-
ceedingly minor position His brother.
David r, when he was turned fifteen.
began learning banking as it is conducted
n Scotland as a messenger boy. and he,
Ike his brother. climbed Up the ladder
step by step. so that It can be said OF
him that he has filed practically every
EDSilLtA NtLull LLc BlLE OF Llle uUQcIu
bank. from the lowest 70 the highest
began as a messenger in the bank that
he now heads. and seven years later
become its savior and president.
George ". Perkins, according 10 his
own belief publicly expressed at the
time Of his examination in connection
with the Hughes life Insurance fnvesti-
cation. should be cIassed among the
bankers who have come 10 the top with
out any e-traneoUs assistance You viii
doubtless recall the father-to-sou letter
on success that he so proudly displayed
while On the witness stand Il IS true
that he began his work-s-day career as
a S-a-week Office boy Il is also true
that his father gave him his initial Job
Of folding circulars. and thai during the
years that the son was rising rapidly IN
the insurance company the father was
its Western agent and an important fac
tor in its success fn that section But IN
whatever class Perkins puts himself or
the public performs that service for him.
il IS undenlable that he IS chock-fuIl Of
innate ability II II were otherwise. he
would not now be second man in the
banking business presided over by J
PieTpOnt Morgan
Perkins, from the standpoint os years,
is the baby among our most dlstin-
IN January. being about a year younger
than James Speyer, both Of whom look
exceedingly DoyIsh naturally, and es-
peciaIly when they are seen IN confer
ence with the Wall street grzybeards OF
finance
Famous Music-Ioving Banker.
Leaving out Of consideration Levi P.
Morton. eighty-four. and D O. Mills.
retired list, the dean OF our 7-orld-fa-nous
banking coterie is Henry Lee Higgiu-
son. He leads Mr.. Morgan. who is sew
eEty-one. by two years. and is as active
in business as most men a decade OF so
younger
In personal appearance Maj. HiEgin-
son IS far more the soldier than the
banker. His features are those we Aueri-
cans have learned 10 associate with the
civil war defenders Of the country: his
Unmistakable soldiery bearing he OBJ
tained in the days when he was gallant
" defending his country, and at that
time, too. he doubtless contracted the
habits Of brusque manner and rugged
speech that have marked his career as
banker and phIanthropist In scarcely
any respect does he physically measure
UP 10 the standard likeness OF the sue
cessfuI banker. vet the history OF bank
ing IN New England for a greater part
Of the period since the civil war largely
centers about Henry Lee HigEinson.
II vas as volunteer soldier IN the
civil war that MAJ. HizEinson first came
into the eye Of New England. Entering
the service in July OF 81. when he was
twenty-six, he fought side by side with
his Harvard classmates in numerous
battles Then. in June Of 80. some tine
after his fighting ability had caused him
70 be made a major, ne received in the
battle Of Aide fVa) the three saber cuts
and the two pistol wounds that eveatu-
ally led 10 his retirement for disability
from wounds received IN action" But
before ne was retired ne had been brev-