Millionaires And How They Became So Showing How 27 Of The Wealthiest Men In The World Made Their Money Primary Source Edition PDF Download

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1884 edition. Excerpt: ... In 1812 he was rich enough to buy the old Bank of the United States, and commenced banking operations with a capital of over a million dollars. A great spirit of speculation was abroad in America, and Girard was the only banker who steadily set his face against it. He never bought an accommodation bill, and under no circumstances would he renew a promissory note. This secured him unbounded confidence, and when other banks were unable to meet their promises Stephen Girard stood as firm as a rock. During the great war between the States and England, the credit of the American nation fell to a low ebb. The Governor at that time was anxious to borrow a large sum that was necessary to carry on the war to a successful issue. The volunteer armies of the States were doing battle manfully for their country, and the navy was carrying on a prosperous warfare, but the whole might be wrecked for want of funds. High rates of interest were offered, and various inducements held out to get the loan. But the capitalists of America were too heavily involved in their private businesses to render any assistance, even if they had sufficient foresight to see the grand future of their country. At this juncture of affairs Stephen Girard stepped forward and placed the whole resources of his bank at the disposal of the Government. He proved the saviour of the nation. While all kinds of credit were shaken to their very centres, and the country was involved in difficulties arising from its exhausted finances and the expenses of the war, Girard not merely placed his all to the credit of the Government, but he raised loans and otherwise provided the "sinews of war" to support the men who were fighting for the existence of the nation. For five years he aided and...