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nydus/The History of the Great American FortunesPublic

This work examines the origins of large American fortunes by analyzing the social and industrial systems that facilitate their accumulation. The author seeks to move beyond both celebratory narratives and sensationalist critiques to provide a factual, systemic interpretation of how these vast concentrations of wealth are formed.

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Table of Contents

CHAPTER IV

of coffee sometimes yielded three or four times that amount. Weeden instances one shipment of plain glass tumblers costing less than $1,000 which sold for $12,000 in the Isle of France.7

The prospects of a dazzling fortune, speedily reaped, instigated owners of capital to take the most perilous chances. Decayed ships, superficially patched up, were often sent out on the chance that luck and skill would get them through the voyage and yield fortunes. Crew after crew was sacrificed to this frenzied rush for money, but nothing was thought of it. Again, there were examples of almost incredible temerity. In his biography of Peter Charndon Brooks, one of the principal merchants of the day, and his father-in-law, Edward Everett tells of a ship sailing from Calcutta to Boston with a youth of nineteen in command. Why or how this boy was placed in charge is not explained. This juvenile captain had nothing in the way of a chart on board except a small map of the world in Guthrie's Geography. He made the trip successfully. Later, when he became a rich Boston banker, the tale of this feat was one of the proud annals of his life and, if true, deservedly so.8

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