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M
 T
.
What a pleasure it is to read the lives of such men as Moses Taylor. He
began life as a clerk and died worth $50,000,000; but it is not alone for his
wealth that we take such an interest in Moses Taylor, but the good he did
with it, and the example he set moneyed men.
Born in New York, January 11th, 1808, he served a clerkship of ten long
years, when he started business on his own account. The cholera raged that
year in that city; consequently all business suffered, many fled from their
homes but young Taylor stood by his new enterprise, and even the first year
cleared some money. Three years later he was burned out, but while the
smouldering brands lay at his feet he arranged to erect a new building to
stand on the same spot, and the next day opened a store in his dwelling
house. Of course such enterprise would win in the end; when he was called
to the presidency of the city bank no one seemed surprised for when a man
has ability it is not necessary for him to tell it—he becomes a marked
personage. The success that attended his efforts in this new capacity is
shown from the following:
In the great panic of 1857 a meeting of the various bank presidents was
called. When asked what percentage of specie had been drawn during the
day some replied fifty per cent., some even as high as seventy five per cent.
but Moses Taylor replied, "We had in the bank this morning, $400,000; this
evening, $470,000." While other banks were badly 'run,' the confidence in
the City Bank under his management was such that evidently people had
drawn from other banks and deposited in the City Bank. He was Treasurer
of the Transatlantic Cable, being one of its most ardent supporters from
1854 until long after it had became established.
He was a most conspicuous 'War Democrat,' taking an early stand as to the
duty of all bankers. Probably no one man, save possibly Jay Cook, did more
to sustain the credit of the North in those trying times than did Moses

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Taylor. He became interested in the Delaware, Lackawanna & Western
railway, and the mines in the coal regions of Pennsylvania. In 1873 he
became President of the Lackawanna Iron and Coal Co. He also became
largely interested in the Manhattan Gas Co., out of which alone he made a
respectable fortune. When he died he left a very large sum of money for the
purpose of building a hospital at Scranton. The need of this hospital was
very urgent, as accidents were continually happening to the miners in their
dangerous work. The building is not only a splendid edifice but it fills a
long-felt want.
Such a man was Moses Taylor who died May 23rd, 1882. Few such men
have we, would that there were more. Moses Taylor was a practical man, he
cared more for business than for any amusement. Art was of far less
account with him than were the suffering miners who had no place to
stretch their bleeding forms until he came to their aid.

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