Evening star. [volume] (Washington, D.C.) 1854-1972, 1915-11-07
Remarkable Salesmanshi Helped United Fins

Reading railroad bought 7.30 notes
paying for them with orders on the
com pany, the money to be taken from
their wages when earned.
the government in Philadelphia and
nearby territory, Cooke sent statesmen
into, all parts of Pennsylvania. He
wrote to Joshua Hanna, an uncle OF
Mark Hanna. in Pittsburgh. and Joshua
Hanna hoisted a flag over his bank and
sold $4,000 of the 1905 in forty-eight
hours.
Agents. by the order of Secretary
Chase, were allowed $3.50 each for adj
vertising the bonds in their territory
Cooke spent $4,000 of his own money
during the campaign of publicity he
carried on in Philadelphia, and was so
earnest, energetic and successful that
Secretary Chase appointed him sole
selling agent of all government Sc
curities
In the last six months of 1851 Chase
borrowed 5000. 100000. The public debt
was increased from s62.000,000. in the
autumn of 1850 to s515, 100000 June 80.
1862. Northern armies had been de-
feated. The Union. sober-minded men
feared, had been permanently disunited.
Such was the situation when Jay
Cooke took upon himself full respon-
sibility for raising the millions re-
CURED by Lincoln and his administra-
ton. Cooke. born and reared in Ohio,
near Philadelphia. He had just caused
the establishment of an Episcopal
church in the village of Ogontz, his
village. which he named in honor of an
Indian whom he had known as child
on the shores of Lake Erie
Previously for ten years he had taught
a Bible CLASS every Sunday morning in
Philadelphia, getting up at daybreak
and driving into the city, where he re-
manned all day in attendance at the
various services In his parish. There
was an active account on the books of
his bank with Old Patriarch Jacob, to
which twice year he transferred a
tenth of his business profits for use in
religion and charity. This account was
Kept alive during all Of his operations
for the government
Jay Cooke was six feet tall and a
hurricane In activity. He bought
ducks. fish and grapes in large num-
bers and quantities from dealers and
vineyardists in sandusky, and had
them expressed on ice to his friends in
Boston, New York, Philadelphia and
washington. A bountiful and strenu-
Gus personality. he took all of his en-
which Chase had honored him.
A double appeal was made by Cooke
to the people of the north during his
SShAh6 Sdhpdi OF national SeCuT1-
ties. Men were fighting at the front,
he pointed out. and giving their lives
to their country. The men at home,
safe from harm. would be doing little
enough. he said. were they freely to
contribute their money in support of
those who were trying to save the
Union.
At the same time. he declared. the
bonds of the nation, drawing high
rates of interest. were the best securi-
ties in the world. Make the national
Treasury" he said. your savings bank.
You cannot lose
The efforts OF s --eta.y Chase to sell
10000. 900 of per cent bonds. due in
from five to twenty years, had failed.
Cooke, however. sold the bonds, and at
par. He sent nine travelling statesmen
to every part of the country and ap-
pointed 1900 local subagents. A press
bureau was opened, and three Of the
most talented newspaper writer's of
the day were employed in preparing
notices, editorials and sketches.
Editors Of country journals were