The dry-goods prince of the world. A marble palace for a store, which is
entered daily by an average of twenty-five thousand people who buy
$75,000 worth of merchandise--a business with daily import duties to the
Government of $25,000 in gold. When we look at all this, and then
remember that he was proprietor, not only of the palace store of
America, but had branches in Philadelphia, Boston, Lyons, Paris,
Belfast, Glasgow, Berlin, Bradford, Manchester, Nottingham, and other
cities throughout the world. When we behold this great success, and then
think how he landed in this country a poor Irish lad of sixteen,
friendless, homeless, and almost penniless, alone in a strange land, we
involuntarily exclaim, "How was such a change in his position brought
about?" Why did he succeed, while others all about him who were far
better situated, failed? Let us follow him:
He was born at Belfast, Ireland, October 21st, 1802, and in 1818 came to
America. He was a mere lad of sixteen. The first work that he obtained
was as assistant in a college; here he worked hard, saved his money, and
at last he was able to open a small store in the city where he sold
dry-goods. When he became twenty-one he was called to his native country
to claim a small legacy left him by a relative who had died. He had made
a study of his business, hence invested the entire sum in Irish
products, and returning to America rented another store on Broadway, and
thus began that great importing business. At this time he was his own
buyer, salesman, book-keeper and errand boy. Ah! there is the secret of
the success of nine-tenths of our great men. They began at the
bottom--never hiring help for the mere appearance or convenience of
their assistance. They never hired done what they themselves could do.
And then there is another thing to remember--beginning thus at the
bottom they, of necessity, became thoroughly familiar with the details
of their business, hence were never obliged to leave anything to the
'confidential clerk' who has ruined so many business men. Stewart soon
felt the need of more room, and was compelled to seek more commodious
quarters. After making another move to a larger store-room he made his
first purchase of real estate, which was his "down-town" store. After
this his "up-town" store was built.
He was a splendid salesman, a perfect gentleman toward customers, and
people preferred trading with him rather than any clerk in his employ.
His tastes were very simple, and he was always plainly dressed. It has
been stated that Mr. Stewart never posed for a photograph, which is a
significant fact of itself. His motto was, "Never spend a dollar unless
there is a prospect of legitimate gain." He arose early in the morning,
went to his "up-town" store, and thoroughly inspected everything; then
to his "down-town" store where he attended to his business at that end
of the line.
At the breaking out of the Civil War he aided the Union cause very much.
Being in sympathy with the principles of the Republican party, and
holding a powerful influence over the commercial world, the President,
Mr. Grant, nominated him Secretary of the Treasury, and he was at once
confirmed by the Senate; but as there is a law prohibiting any merchant
in the importing business from holding this position, he was objected to
by opposing politicians; and, although he offered to donate the entire
profits of his business to the poor of the city of New York, they still
objected, and he was obliged to resign. By this, the country was
undoubtedly robbed of the services of a man capable of making one of the
best officers for that position our country has ever known. However, it
was right that it should be so; it would have been very unwise to have
established such a precedent.
In some respects, Mr. Stewart was a very liberal man, although it has
been stated otherwise. In his will is his desire to do good especially
manifested. Arrangements were made for the building of a church and
parsonage, and a school for the benefit of poor boys who desired to fit
themselves for a professional life.
Some people may be fortunate in one instance in their life. We do not
wholly disregard the idea of circumstances, but we do claim and try to
prove that it is not the _one instance_ in the life after all. When we
consider a whole life's history, we are convinced every time that
generally where one is seemingly very fortunate, it is the result of
careful calculation and down-right hard work. Bad luck is the natural
result of carelessness in business matters. Had A. T. Stewart waited for
a lucky chance to come to him, he might--probably never would have
realized that splendid success that did attend his efforts. Here he came
to this country at the age of sixteen. He did not wait for his
grandfather to die and leave him that legacy but went right at some
work. It may be possible that the grandfather gave him that money
because he felt that young Stewart would make good use of it. Certain it
is he did not wait but went right to work, saved his money, and was well
prepared to use the legacy skillfully when he did receive it. However,
if Stewart had never had that money given him, he would have succeeded.
His whole life was a series of maturing plans, which had been carefully
laid, and then pushed to completion. A man must have ability to plan
well, and the courage and backbone to push those plans to success. A. T.
Stewart possessed these qualities to a marked degree. He began as his
moderate circumstances would warrant, and best of all he never allowed
his energies to slacken. He never became a lazy business man. He never
allowed himself to rest content with the laurels already his. He was a
man of enterprise; while competitors followed the footsteps of their
fathers, A. T. Stewart was progressing--he was original in nearly every
undertaking.
On the 10th day of April, 1876, this great magnate died. His business
was carried on, for a time, by others, but the mainspring was gone, and
in 1882 the great clock stopped. Here is an instance that should
convince us of the result of courage, energy, and self-reliance. A. T.
Stewart began without a dollar, and succeeded, while they who had the
benefit of his experience, the use of his vast wealth, and a marble
palace, could not succeed.
The history of the stealing of Mr. Stewart's body is well-known, and as
the papers have succeeded so well in keeping the subject before the
people, we will not speak further of that here, our object being rather
to instruct than to narrate sensational episodes.