by Jean Strouse
10 “masterly”: MGCo.—JSM to M. K. Jesup, Jan. 22, 1870.
11 Carnegie’s worth: Joseph Frazier Wall, Andrew Carnegie, pp. 222–23.
12 $7 million: David McCullough, The Great Bridge (New York: Simon & Schuster, 1972), p. 183.
13 “toll-gate”: Andrew Carnegie, Autobiography, p. 155–57; “novel”: MGCo. Ms 21,795—JSM to DMCo., March 24, 1870.
14 “that was all”: Wall, Carnegie, p. 272. “already smaller”: MGCo.—JSM to DMCo., April 2, 1870.
15 “we have”: AC to JSM, June 6, 1876, in Wall, p. 329.
16 “There are”: in Philip Ziegler, The Sixth Great Power, p. 10.
17 “signed”: MGCo.—JSM to S.T. Dana, July 16, 1870.
18 Junius decision: Smalley, Anglo-American, p. 216.
19 “I feel”: PML—JPM to JJG & GHM, Jan. 3 [1871].
20 “largely”: MGCo. Ms 21,760—AJD to JSM, Jan. 27, 1871.
21 “timely notice”: PML—JPM to CHD, JJG, GHM, March 10, 1871.
CHAPTER 9: ILL WINDS
1 “my beloved”: PML—JPM to FTM, Jan. 18, 1882.
2 “Cooks”: Nissan Perez, Focus East (New York: Harry N. Abrams, Inc., 1988), p. 46.
3 “a sort”: in Leon Edel, Henry James, Vol. II (The Conquest of London), pp. 91–92.
4 “my pocket” & “overdo”: PML—JPM to FTM, May 3 & 7, 1872.
5 Cragston: PML, MSI—Charles Tracy to FTM, April 26 & July 18, 1872.
6 “We each”: PML—FTM to MCS, June 26, 1872.
7 “head and”: Robert McElroy, Levi Parsons Morton, p. 53.
8 “While we”: MGCo.—JSM to LPM & JPM, Feb. 8, 1873.
9 “no questioning”: PML—JPM to JSM, July 24, 1873.
10 “amber”: Ibid., June 8, 1877.
11 “which can” to “nothing harassing”: Ibid., March 28, April 17 & 18, June 7, & July 24, 1873.
12 $1.5 billion: Wilkins, History Foreign Investment, pp. 90–91. “Affairs”: PML—JPM to JSM, Sept. 20, 1873. “cyclone”: Ibid., to Rodewald, Oct. 30, 1873.
13 “Everything”: PML—JPM to JSM, Sept. 20, 1873. “No anxiety”: MGCo. Ms 21,760—JPM & AJD to JSM, Sept. 26, 1873.
14 “People of”: Adam Smith, The Wealth of Nations, p. 128. “The tendencies”: Thomas K. McCraw, Prophets of Regulation, p. 66.
15 “general principles”: in Chandler, Visible Hand, p. 125.
16 “great principle”: J.W. Garrett to JSM, March 9, 1877, in Carosso, Morgans, p. 228.
17 “The market is”: Harold Livesay, Andrew Carnegie, p. 105.
18 “To imagine”: Richard Hofstadter, The American Political Tradition, p. 165.
19 “Its powers”: NY Times, Oct. 14, 1876.
20 “they divided”: Hofstadter, APT, p. 169.
21 “as if”: Henry Demarest Lloyd, in Daniel Aaron, Men of Good Hope, p. 151. “an auction”: in Thomas C. Cochran and William Miller, The Age of Enterprise, p. 158.
22 “not merely”: in E. Foner, Reconstruction, p. 523.
23 “I don’t”: PML—JPM to JSM, Feb. 13, 1874.
24 “Fanny”: PML, MSI—Adele Stevens to FTM, Nov. 20, 1873.
25 “The competition”: PML—JPM to JSM, Jan. 29, 1875, #2. “a great”: Ibid., to Rodewald, Aug. 11, 1875.
26 “sweep”: NY World, June 1874. Hamilton Fish Diary, June 5, 1874. Both in Ross A. Webb, Benjamin Helm Bristow, pp. 136–37.
27 “pleasure”: MGCo. Ms 21,802—JSM to BHB, Jan. 28, 1875; “clearheaded”: PML—JPM to JSM, March 24, 1875.
28 “I am”: MGCo. Ms 21,760—JPM to BHB, Feb. 8, 1876; “I need”: BHB to JPM, Feb. 9, 1876; “to beg”: JPM to BHB, Feb. 23, 1876; “I beg”: BHB to JPM, Feb. 28, 1876.
29 “as if” & “He is”: PML—JPM to JSM, March 3 & 30, 1875. “rough”: Joseph Seligman in Carosso, Morgans, n. 26, p. 693.
30 “a capital” & “strongly”: PML—JPM to JSM, March 30 & Sept. 10, 1875.
31 “he bounded”: Ida Tarbell, A History of the Standard Oil Company, Vol. I, p. 43.
32 “extra stout”: PML—JPM to C. Turner, June 23, 1886.
33 “must depend,” “unexceptionable,” & “like a duck”: PML—JPM to JSM, Sept. 10 & Oct. 19, 1875, & Jan. 10, 1876.
34 “although I”: Ibid., Jan. 10, 1876.
35 “liberal patron”: Luigi Palma di Cesnola, “In Memoriam Junius S. Morgan,” Philadelphia Evening Bulletin, April 11, 1890.
36 fn., “I don’t”: Gerald Reitlinger, The Economics of Taste, pp. 187–88.
37 “another”: PML—FTMD, July [5–9], 1876.
38 “The King”: PML—JPM to FTM, July 7, 1876.
39 “After dinner”: PML—FTMD, Aug. 8–9, 1876.
40 “strict”: MGCo.—EPF to JSM, July 12–14, 1876.
41 “a third-rate”: E. Foner, Reconstruction, p. 567. fn., “Bristowism”: Webb, Bristow, p. 220.
42 “very great”: MGCo.—EPF to JSM, July 12–14, 1876.
43 “just such”: PML, MSI—LPM to FTM, March 18, 1913.
44 “Such contributions” & “looking”: MGCo.—DMCo. to JSMCo., Sept. 15 & JSMCo. to DMCo., Sept. 18, 1876.
45 “Oh!” & “Though the”: PML—FTMD, Jan. 8 & 11, 1877.
46 “that potentate”: Ibid., April 6, 1877.
CHAPTER 10: “THE FUTURE IS IN OUR OWN HANDS”
1 “Pierpont brought”: PML—FTMD, Oct. 2, 1878.
2 “all the high”: Ibid., Aug. 20, 1877.
3 “I hope” & “I wish it”: PML—JPM to FTM, Aug. 23, 1877.
4 “a hideous”: PML—FTMD, March 28, 1878.
5 to “drain”: in E. Foner, Reconstruction, p. 557.
6 “a nation’s”: John Sherman, Recollections, II, pp. 604–5.
7 Molly Maguires: Kevin Kenny, Making Sense of the Molly Maguires.
8 “It takes”: Henry James, The American Scene, p. 495.
9 “it contains”: in Calvin Tomkins, Merchants and Masterpieces, p. 43.
10 “desolate”: Albert S. Bickmore, in Robert M. Peck, “The Museum That Never Was,” Natural History, July 1994, p. 66.
11 “one of”: NY Times, Nov. 9, 1877, p. 8.
12 Speeches: PML—“JSM Testimonial Dinner, Nov. 8, 1877.”
13 “interested”: PML—JPM to JSM, Jan. 17, 1878.
14 “we should” & “alarming”: Ibid., Feb. 8 & March 4, 1878.
15 fn., “suitable” & $10,000: MGCo. Ms 21,760—DMCo. to JSMCo., Sept. 3 & DMCo. to Belmont, Oct. 23, 1878.
16 “Thanks for”: McElroy, Morton, p. 81.
17 “I never was”: PML—JPM to WHB, Oct. 30, 1878.
18 “such that”: PML—JPM to J. Rogers, Feb. 10, 1879.
19 “very much”: PML—JPM to WHB, Oct. 30, 1878.
20 Edison patents: Robert Friedel and Paul Israel, Edison’s Electric Light, pp. 1, 224.
21 “never so” & “The only answer”: in J. Hughes, Vital Few, pp. 173–76. “I have it”: in Friedel and Israel, p. 13. gas stock prices: PML—JPM to WHB, Oct. 30, 1878.
22 “All I want”: TAE to GPL, Oct. 3, 1878, in Friedel and Israel, p. 22.
23 strengths: JPM to Francis Lynde Stetson, in John Rousmaniere, “Called Into Consultation,” p. 34.
24 “to the world”: PML—JPM to WHB, Oct. 30, 1878.
25 “enough money” & ff.: TAEM—GPL to TAE, Oct. 18 & 23, & Dec. 10, 1878.
26 “extreme secrecy”: PML—JPM to WHB, Nov. 19, 1878. fn., agreements: TAEM—GPL to Gouraud, Dec. 31, 1878, GPL to DMCo., March 25, 1880.
27 “good enough”: in J. Hughes, Vital Few, p. 177. “I cannot”: PML—JPM to JSM, Dec. 26, 1878.
28 “honor and”: in McElroy, Morton, p. 88.
29 “all [our]” to “It seemed”: PML—JPM to WHB, Jan. 21, 1879.
30 “cutting” & “I have rarely”: N-YHS, BV Morton, Bliss & Co., Letterpress Vol. III—George P. Bliss to L.P. Morton, April 8, 1879. “We accept”: MGCo. Ms 21,760—JSMCo. to DMCo., April 9, 1879.
31 “our Mr.”: MGCo.—DMCo. to JSMCo., April 22, 1879.
32 “turned over” & Fort Sherman: James Grant, Money of the Mind, pp. 58, 41.
33 “We have”: N-YHS, BV Morton, Bliss & Co., Letterpress Vol. III—George P. Bliss to C.D. Rose, May 27, 1879.
34 “undertake”: MGCo.—JPM to WHB, June 28, 1881.
35 “secure”: PML—JPM to F. Wood, Dec. 6, 1880.
36 “single”: J. Moody and George K. Turner, “Masters of Capital,” McClure’s Magazine, No. 1, Nov. 1910, pp. 13–14.
CHAPTER 11: FAMILY AFFAIRS AND PROFESSIONAL ETHICS
1 “He was powerless”: Family papers of Thomas P. Cook—“Highland Falls,” memoir of Grace Bigelow Cook, p. 3.
2 “Felt forlorn” & ff.: PML—FTMD, May 17–21, 1879. “Good bye”: JPM to FTM, April 26, 1879.
3 “I wish you could see”: Ibid., May 7, 1879.
4 “Everything,” “altho’ ” & “it makes”: PML, MSI—JPM to LPM, May 7 [1880], [spring 1883?], & Dec. 22 [1881].
5 “touched”: PML—JPM to Gov. W.W. Hoppin, Dec. 16, 1879.
6 “tête-à-tête”: PML—JPM to FTM, Feb. 29, 1880.
7 “I can scarcely” & “I dread”: Ibid., March 22, 1880.
8 “I felt” to “joyful”: Ibid., April 11, 1880.
9 “enjoyed”: Ibid., April 20, 1880.
10 “which also”: PML, MSI—JPM to LPM, May 7 [1880]. “No. 5”: PML—JPM to FTM, April 26, 1880.
11 “swallowed” to “And darling”: Ibid., May 5, 1880.
12 “Hard a port!”: PML—JPM to JSM, June 9, 1880.
13 “loneliness” to “come back”: PML—JPM to FTM, July 16–19, 1880.
14 “little high”: MGCo. Ms 21,802—JPM to JSM, Feb. 10, 1880.
15 “I certainly”: PML—JPM to JSM, March 10, 1880. “Tell Mama”: (MSI) to LPM, May 7, 1880. “just the house”: to FTM, April 30, 1880.
16 “our friends” & ff.: MGCo. Ms 21,802—JSMCo. to DMCo., Dec. 6, 13, & 14, 1873, & Jan. 10, 1874.
17 “We all know”: PML—JPM to JSM, Dec. 8, 1875.
18 “We have had”: PML—JPM to Mr. Pierson, Nov. 26, 1877.
19 “attacked”: PML—JPM to JSM, Feb. 4, 1880. fn., “we did”: PML—JPM to JSM, March 10, 1880; “I never”: PML—JPM to S.E. Peabody, June 24, 1884.
20 “between continuing”: Maury Klein, Jay Gould, p. 242.
21 “with a view,” “I had,” & ff.: PML—JPM to JSM, Feb. 4, Aug. 27, & Oct. 19, 1880.
22 “navigating” & ff.: Ibid., March 1, 1881. “you just”: Sheridan A. Logan, George F. Baker, p. 77.
23 “about as” & “If it were”: PML—JPM to JSM, March 1, 1881, & to JJG, Feb. 27, 1880.
24 “Mrs. Sumner” to “natural feelings”: David H. Donald, Charles Sumner and The Rights of Man, pp. 276–77, 290, 314. “a pathological”: Adams, Education, p. 950.
25 “Ladies”: Howe to Sumner, Feb. 14, 1868, in The Selected Letters of Charles Sumner, edited by Beverly Wilson Palmer (Boston: Northeastern University Press, 1990), Vol. II, p. 420. fn.*, “women are”: Violet Paget, July 16, 1885, in Vernon Lee’s Letters, edited by Irene Cooper Willis (privately printed, 1937), pp. 177, 222; “like a”: Donald, Sumner, p. 320.
26 “outrageous”: HA to Elizabeth Cameron, Sept. 25, 1895, in Letters of Henry Adams, Vol. IV, p. 332. “her great”: Edel, HJ, Vol. II, p. 106.
27 fn.†, “intrinsically”: HJ to Mrs. HJ Sr., Jan. 18 [1879], in HJL, Vol. II, p. 212.
28 “There it”: PML—in FTM to MCS, Jan. 10 [1882].
29 “protected” to “My next”: PML—JPM to FTM, Jan. 14–18, 1882.
30 “Man intends” to “there is”: Ibid., Jan. 23, 1882.
31 “it would seem”: in John A. Wilson, Signs and Wonders Upon Pharaoh, p. 73.
32 “Egyptomaniac” to “one of the most gorgeous”: PML—JPM to FTM, Jan. 23–Feb. 11, 1882.
33 “I must leave” to “you pass”: Ibid., Feb. 18, 1882.
34 “Steam yacht”: PML—Van Heerden: Cragston Guest Book.
35 “Fairylike”: Paul R. Baker, The Gilded Life of Stanford White, p. 212. “Pneumonia” & “robber baron”: John Parkinson, Jr., The History of the New York Yacht Club (New York: The New York Yacht Club, 1975), pp. 111–12.
36 “You have”: Bill Robinson, Legendary Yachts (New York: David McKay Co., 1971) p. 11. “If it makes”: PML, HLS Box 6, folder C-12—Bonbright to HLS, May 20, 1927. Sale for $70,000: PML—JPM to William Moore, Oct. 3, 1891.
37 “great decision”: PML—FTMD, July 20, 1882.
38 “I can’t”: PML—JSM to JPM [May 1881?].
39 “Please come” & “O you”: PML—Jack to FTM, March 9 & Nov. 15, 1883. “How nice”: (MSI) to LPM, Oct. 28, 1883. “you will be” to “Do you think”: (PML) to FTM, April 4–15, Oct. 4, Nov. 15, & May 6, 1883.
40 “Papa hates” & ff.: Ibid., Nov. 23 & Oct. 23, 1885, & Feb. 18, 1883.
41 “I cannot” & ff.: Ibid., Feb. 7, June 10, Nov. 30, 1883, & June 4, 1884.
42 “plain living”: PML, MSI—FTM to LPM, May 16, 1886.
43 “[I] trust” to “I wish”: Ibid., July 27 & August [n.d.] 1886, & April 16 & May 13, 1883.
44 “When you” to “I suppose”: Ibid., May 9 [1883]; Sept. 6 [1886]; April 18, 1884; Aug. 30 & 13, 1886.
45 “I note”: Ibid., JPM to FTM, Sept. 23, 1886.
46 “Of course”: Ibid. LPMD, April 12, 1889. “she was” & ff.: LPM to FTM, [April], April 24, & May 18, 1883.
47 “like the”: PML—JSM to JPM, March 1 [1884].
48 “very much”: PML—JPM to J. Rogers, March 17, 1884. “To the glory”: JPM to Thomas Dana, March 28, 1884.
49 “Grandpa and”: PML, MSI—LPM to FTM, May 18 [1884].
CHAPTER 12: “THE GILDED AGE”
1 annual incomes: Thomas G. Shearman, “The Owners of the United States,” The Forum, Vol. VIII, Nov. 1889, p. 265.
2 “decent people”: Edith Wharton, The Age of Innocence, pp. 125–66.
3 “only about”: The “400” (New York: Melville Publishing Co. [1892]).
4 “Scarcely”: Adams, Education, p. 1037.
5 “tight little”: Wharton, Age of Innocence, p. 31.
6 “a little too”: MGCo. Ms 21,802—JPM to JSMCo., Aug. 31, 1907. “white”: Barings—Lord Revelstoke to Gaspard Farrer, April 19, 1904. fn., “By which”: PML—ATM to FTM, July 27 [n.d.].
7 “deep-chested”: Evening Sun, May 1888, in Nancy Hamlin Soukoup, “From Orthodoxy to Liberalism,” p. 90.
8 “the wrong side”: Rainsford, Story of a Varied Life, pp. 64–65.
9 “a dirty”: Ibid., p. 210.
10 “Done,” “No man,” & “I am not”: PML—Personal Recollections of Dr. W. S. Rainsford, pp. 4–8.
11 “hive”: James T. Addison, The Episcopal Church in the United States, p. 282. “Isn’t it”: PML, MSI—Jack to LPM, March 11 [1883].
12 “great work”: PML—JPM letter, in WSR Recollections, pp. 12–13.
13 “so that”: PML—JPM to J. Hickson, Jan. 15, 1883. “Don’t work”: Rainsford, Story of a Varied Life, p. 278.
14 “wide and”: PML—WSR Recollections, p. 16. “I do not,” “intemperate” & ff., & “extraordinarily”: Rainsford, Story, pp. 292, 284–89, 287–89; fn., “very”: PML—Jack to FTM, Oct. 6, 1922.
15 “Many love”: Rainsford, Story, p. 289.
16 “an American artist” & ff.: The Century Magazine, Nov. 1884 to April 1885, Vol. XXIX, new series Vol. VII.
17 “humanize” & ff.: Tomkins, Merchants and Masterpieces, pp. 17–24.
18 “the present”: M.E. Sherwood, in Arnold Lewis, James Turner, and Steven McQuillin, The Opulent Interiors of the Gilded Age, p. 18.
19 “an almost indiscriminate”: Herter Brothers, p. 200.
20 “just beginning”: Edward Strahan in Lewis, Turner, McQuillan, Opulent Interiors, pp. 17–18.
21 “I wish”: EW to OC, May 2, 1897, in Pauline C. Metcalf, Ogden Codman and the Decoration of Houses (Boston: Boston Athenaeum, 1988), p. 149. “either bizarre”: in Peter Thornton, Authentic Decor, The Domestic
Interior 1620–1920 (New York: Viking, 1984), p. 309.
22 “That house”: World, Jan. 6, 1884, in W.A. Swanberg, Whitney Father, Whitney Heiress, p. 70.
23 “himself”: Lewis, Turner, McQuillan, Opulent Interiors, p. 147.
24 “funds” & ff.: Friedel and Israel, Edison’s Electric Light, pp. 22, 38. “had been”: TAEM—GPL to TAE, Dec. 23, 1878.
25 “Mr. Fabbri looked” & ff.: Ibid., Jan. 25, 1879.
26 “that you agreed”: Ibid., Oct. 24, 1879. $480,000: Harold C. Passer, The Electrical Manufacturers, p. 88. “Friend”: TAEM—EPF to TAE, Dec. 26, 1879.
27 “I think”: PML—JPM to W.W. Hoppin, March 23, 1881. fn. “to relieve”: TAEM—DMCo. to TAE, April 19 & 27, 1881.
28 exhibitions: Friedel & Israel, pp. 213–14, and Thomas P. Hughes, Networks of Power, pp. 50–57.
29 “The greatest”: Friedel & Israel, p. 230. “begin[n]ing”: Edison National Historic Site, LM-003—Samuel Insull to E.H. Johnson, Jan. 8, 1882.
30 “showed”: NY Times, Sept. 5, 1882; NY Herald & NY Sun in Friedel & Israel, p. 222.
31 “If it was”: PML, HLS A-10—E.H. Johnson Recollections, Nov. 1914.
32 “great pains” & “I must”: PML—JPM to James M. Brown, Dec. 1 & 8, 1882, & to S.B. Eaton, Dec. 27, 1882.
33 “The house” & ff.: PML—Johnson Recollections.
34 “Certainly”: PML, MSI—Jack to LPM, Nov. 18, 1883. “the spirit”: Herald, April 1 [n.d.].
35 “league-long”: HJ to E. Wharton, Feb. 8, 1905, in HJL, Vol. IV, p. 346.
36 “These steps” and “Mr. M.”: Peabody and Stearns drawings, Peabody and Stearns Architectural Collection, Fine Arts Department, Boston Public Library.
37 “asks $50”: PML, MSI—FTM to LPM, April 15, 1887.
38 “going ahead”: PML—JPM to Peabody & Stearns, Oct. 24, 1887. “but Papa”: PML, MSI—LPM to FTM, April 12, 1883.
39 “eggs”: PML—JPM to W.W. Story, Nov. 21, 1884.
40 “If you” & “My dear”: PML—JPM to Elizabeth Darling, Oct. 24, 1887, & Sept. 2, 1893.
41 “I do not” & “sorry”: PML—JPM to William J. Graves, Dec. 8, 1887, & Jan. 5, 1888.
CHAPTER 13: A RAILROAD BISMARCK?