Struggles and Triumphs, P. T. Barnum [good books to read in english .txt] 📗

of the river. A more cheerful and elegant piece of ground can scarcely be imagined than the point which stretches between the Pughquonnuck and the old mill-brook; and the prospects presented by the harbors at the mouths of these streams, the Sound, and the surrounding country, are, in a fine season, gay and brilliant, perhaps without a parallel.”

This “cheerful and elegant piece of ground,” as Dr. Dwight so truly describes it, had only been kept from market by the want of means of access. A new footbridge was built, connecting this place with the City of Bridgeport, and a public toll-bridge which belonged to us was thrown open to the public free. We also obtained from the State Legislature a charter for erecting a toll-bridge between the two bridges already existing, and under that charter we put up a fine covered drawbridge at a cost of $16,000 which also we made free to the public for several years. We built and leased to a union company of young coach makers a large and elegant coach manufactory, which was one of the first buildings erected there, and which went into operation on the first of January, 1852, and was the beginning of the extensive manufactories which were subsequently built in East Bridgeport.

Besides the inducement which we held out to purchasers to obtain their lots at a merely nominal price, we advanced one half, two-thirds, and frequently all the funds necessary to erect their buildings, permitting them to repay us in sums as small as five dollars, at their own convenience. This arrangement enabled many persons to secure and ultimately pay for homes which they could not otherwise have obtained. We looked for our profits solely to the rise in the value of the reserved lots, which we were confident must ensue. Of course, these extraordinary inducements led many persons to build in the new city, and it began to develop and increase with a rapidity rarely witnessed in this section of the country. Indeed, our speculation, which might be termed a profitable philanthropy, soon promised to be so remunerative, that I offered Mr. Noble for his interest in the estate, $60,000 more than the prime cost, which offer he declined.

It will thus be seen that, in 1851, my pet scheme was to build up a city in East Bridgeport. I had made a large fortune and was anxious to be released from the harassing cares of active business. But I could not be idle, and if I could be instrumental in giving value to land comparatively worthless; if I could by the judicious investment of a portion of my capital open the way for new industries and new homes, I should be of service to my fellow men and find grateful employment for my energies and time. I saw that in case of success there was profit in my project, and I was enough like mankind in general to look upon the enlargement of my means as a consummation devoutly and legitimately to be wished.

Yet, I can truly say that mere moneymaking was a secondary consideration in my scheme. I wanted to build a city on the beautiful plateau across the river; in the expressive phrase of the day, I “had East Bridgeport on the brain.” Whoever approached me with a project which looked to the advancement of my new city, touched my weak side and found me an eager listener. The serpent that beguiled me was any plausible proposition that promised prosperity to East Bridgeport, and it was in this way that the coming city connected me with that source of so many annoyances and woes, the Jerome Clock Company.

There was a small clock manufactory in the town of Litchfield, Connecticut, in which I became a stockholder to the amount of six or seven thousand dollars, and my duties as a director in the company called me occasionally to Litchfield and made me somewhat acquainted with the clock business. Thinking of plans to forward my pet East Bridgeport enterprise, it occurred to me that if the Litchfield clock concern could be transferred to my prospective new city, it would necessarily bring many families, thus increasing the growth of the place and the value of the property. Negotiations were at once commenced and the desired transfer of the business was the result. A new stock company was formed under the name of the “Terry & Barnum Manufacturing Company,” and in 1852 a factory was built in East Bridgeport.

In 1855, I received a suggestion from a citizen of New Haven, that the Jerome Clock Company, then reputed to be a wealthy concern, should be removed to East Bridgeport, and shortly afterwards I was visited at Iranistan by Mr. Chauncey Jerome, the President of that company. The result of this visit was a proposition from the agent of the company, who also held power of attorney for the president, that I should lend my name as security for $110,000 in aid of the Jerome Clock Company, and the proffered compensation was the transfer of this great manufacturing concern, with its seven hundred to one thousand operatives, to my beloved East Bridgeport. It was just the bait for the fish; I was all attention; yet I must do my judgment the justice to say that I called for proofs, strong and ample, that the great company deserved its reputation as a substantial enterprise that might safely be trusted.

Accordingly, I was shown an official report of the directors of the company, exhibiting a capital of $400,000, and a surplus of $187,000, in all, $587,000. The need for $110,000 more, was on account of a dull season, and the market glutted with the goods, and immediate money demands which must be met. I was also impressed with the pathetic tale that the company was exceedingly loth to dismiss any of the operatives, who would suffer greatly if their only dependence for their daily food was taken away.

The official statement seemed satisfactory, and I cordially sympathized with