File:The Saturday evening post (1920) (14597985779).jpg

Identifier: saturdayeveningp1933unse (find matches)
Title: The Saturday evening post
Year: 1839 (1830s)
Authors:
Subjects:
Publisher: Philadelphia : G. Graham
Contributing Library: University of Illinois Urbana-Champaign
Digitizing Sponsor: University of Illinois Urbana-Champaign

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ut as yet the iron grasp which such a gigantic effort might have been expected to give itupon the countrys resources had not eventuated. The fact was, indeed, as it now appeared, that capitaland the American railroad promoter had really over-reached themselves in this matter. The railroad promoter,having, as is not unknown, more interest in building andselling railroads than in operating them, retired from thisprofitable combination, built a square brick house with amansard roof and a barn with a gilt trotting horse on thecupola; and capital, following its destiny along lines theexact details of which neither it nor Mr. Marx had quiteaccurately foreseen, plunged through bankruptcy into itspresent well-known and much-discussed relations with theex-drygoods and clothing merchants who ruled Wall Street,and whose origin, organization and type of mind we arenow about to consider. The United States, as is not unknown, in its earlierhistory was in essence a farm. Its residents supplied their
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NOERWOOD, Where Wall and Broad Streets Meet own food and some clothing, and as time went on boughtmore and more their drygoods and notions at the countrystore, whose importance in the early financial system of theUnited States is so well pointed out by Dr. Clive Day,in his History of Commerce. These country stores, as waswell understood by our ancestors, were supplied withgoods and credit—both obtained largely from England—through the great drygoods jobbers or so-called merchantprinces whose biographies filled the Sunday-school librariesof that period, and whose memory is preserved to our dayby an occasional side-whiskered statue. These gradually—following the opening of the ErieCanal—passed down from New England, where they weremost produced, and established themselves at the maincrossways of American transportation, where the masts ofthe sailing vessels still stood stiffly on the East River at thefoot of Wall Street, New York. From dealing in cloth they were drawn necessaril

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