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Who, indeed, is there who has not heard of Peter Cooper? He was born in
the city of New York in 1791. His father was a man who possessed some
ability, but was so inconstant that the poor boy received only about six
months' schooling, and he received that before he was eight years old.
Reader, think of it; can you make yourself believe that his great riches
came through 'good luck'? we will see: His father, being a hatter, little Peter
was early employed pulling the hair off the rabbit skins to obtain material
with which to make the hats. In the course of time his father moved to
Peekskill, and at seventeen Peter resolved to strike out into the world for
himself. He returned to his native city and apprenticed himself to the firm
of Burtis & Woodward. Here he remained four years where he acquired a
thorough mastery of the coach-making trade. In addition to his board he
received during his apprenticeship the sum of twenty-five dollars per year
with which to clothe himself. Although he had spent four long years
learning the trade of coach-making he, for some reason, determined not to
make that his calling for life. Accordingly he went to Hempstead, Long
Island, and there he met a party who was manufacturing a patent shears for
shearing cloth. To this man he engaged himself at $1.50 per day, where he
remained until the business became unremunerative, a period of three years.
He next turned his attention to the business of making and selling cabinet
furniture; at the end of a year he sold out this business, and with his family
returned to New York city.
He now entered the grocery business and the next year, seeing his
opportunity, leased for a period of nineteen years a piece of land containing
a few buildings. He now moved his grocery business into one of these
buildings, subletting the others at a profit. His eyes were kept open, and he
never let an opportunity slip by to turn an honest penny. There was a glue
factory situated not far from his present location. True, it had never paid,
and that seemed to be reason enough for all others, but Cooper made a

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study of the glue business. He satisfied himself that he could make it pay;
he thought he could see where the trouble was with the present proprietor,
and he bought it out, paying two thousand dollars, cash down, for it. By a
progressive study of this new business he soon produced a better article
than was made by others, and so materially reduced the price as to drive out
foreign competition from the American markets. Of course, he made
money, and when he saw that we paid Russia four dollars per pound for
isinglass, he studied up on the manufacture of the same, and added that
article to his business, and soon was enabled to sell it at less than ONE
DOLLAR A POUND. It is needless to say that he succeeded in completely
monopolizing the isinglass industry for a long time, and his profit on that
one article would have made him a very rich man.
Mr. Cooper was an observing man; he saw and realized that our country
was rich in mineral resources; especially was his attention drawn toward the
iron deposits in Pennsylvania and neighboring States. He felt that there was
big money in that business for the man who early entered the field; he felt
that there would be money in it for Peter Cooper. These feelings made him
an easy victim to two sharpers who one morning entered his premises and
succeeded in getting him to invest $150,000 in a large tract of land, in
Maryland, of some three thousand acres. He was told that this land was on a
'boom,' as the Baltimore and Ohio Railway, it was rumored, would soon be
completed. The steep grades, however, and sharp curves, made it
impossible for engines then known to make the road in safety. Indeed, it
seemed that his land speculation was destined to prove a 'White Elephant'
on his hands, and, with nine out of ten men it would have so proved, as they
would have given up right here. Mr. Cooper set about this problem resolved
to solve it. He soon saw that the success of the Baltimore and Ohio was the
success of his speculation. The only thing needed to bring this success was
an engine that could ascend the grades and turn the curves in safety.
He set to work patiently, and succeeded in inventing an engine that would
do what was required of it, he, himself acting as engineer on its trial trip.
This and other favorable influences which were brought about through the
success of the railroad, 'boomed' his land in dead earnest this time. He next
established an iron furnace on the site of his land and burned the wood for

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charcoal. The land went on up, and when it reached two hundred and thirty
dollars per acre he sold out at an immense profit. He still continued in the
iron business, and as he was always studying his business, he was the first
man to roll out iron beams for fire-proof buildings. His iron industries
spread all over Pennsylvania, and the business is to-day carried on by his
successors. As is well-known, he was one of the warm supporters of Cyrus
W. Field from first to last, extending his aid and sympathy. When the Bank
of Newfoundland refused to honor the Cable Company's paper Peter
Cooper advanced the much needed funds. While all this business was on his
mind his glue and isinglass industry was not in the least neglected. He had
removed the works to Long Island, where it assumed mammoth
proportions. The profits of this giant combination of business poured the
money into his pockets in large streams.
One feature of the great success of Peter Cooper was he always paid cash.
But the great life-work of Peter Cooper is embellished with one gem that is
perpetually bright. We speak of Cooper Union. In 1854 the ground was
cleared, the plans made and the work begun. This institution cost Cooper
about eight hundred thousand dollars. It is deeded as a trust, with all its
rents and profits, to the instruction and profit of the poor working people of
New York city. Mr. Cooper himself thus describes his motives: "The great
object that I desire to accomplish by the erection of this institution is to
open the avenues of scientific knowledge to the youth of our city and
country, and so unfold the volume of nature that the youth may see the
beauties of creation, enjoy its blessings and learn to love the Author from
whom cometh every good and perfect gift." Could any sentiment be more
beautiful? Could any motive be more worthy of imitation than this?
He was a Democrat and a member of Tammany Hall, but toward the latter