H8 jay cooke

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This slide show is a biography of Jay Cooke and his relationship to the world of the Gilded Age.

This slide show is a biography of Jay Cooke and his relationship to the world of the Gilded Age.

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Transcript

  • 1. The Young Entrepreneur, 1840
  • 2. The Patriarch, about 1900
  • 3. Jay Cooke in his prime
  • 4. Jay Cooke, the Veteran Capitalist
  • 5. The Cooke Family, 1892
  • 6. Jay Cooke’s Early Career
    • trained in trading house in St. Louis
    • learned transportation business at brother-in-law’s shipping firm in Philadelphia
    • 1839 joined E. W. Clark & Co (Philadelphia, one of largest private banks in US), learned how to market securities, made partner 1842, by 1851 was also a partner in its branches NYC and St. Louis, retired from firm 1858
    • bought and reorganized bankrupt abandoned canals and railways in Pennsylvania 1858-1861, and put them into operation
  • 7. Jay Cooke, Civil War Financier
    • January 1, 1861 opened Jay Cooke & Co (private bank, Philadelphia), floated a war loan of $3,000,000 to state of Pennsylvania
    • early months of Civil War helped U.S. Secretary of the Treasury Salmon P. Chase get loans from leading bankers in North
    • great success in distributing treasury notes (paper money)
    • Treasury Dept failed to sell $500,000,000 of “Twenty-five” bonds authorize by Congress 2-25-1862; Chase named Cooke and two larger banks as special agents for sale
    • Cooke advertised in press, appointed 2,500 sub-agents, quickly sold $11,000,000 more than authorized (Congress quickly sanctioned the excess)
    • influenced establishment of national banks
    • organized a national bank at Washington, DC and another at Philadelphia
    • early 1865 played similar role in sale of $830,000,000 in “Seven-thirty” government bonds between February and July
  • 8. A Check on Cooke’s New York Bank, 1868
  • 9. A Bond
  • 10. Cooke Castle on Gibraltar Island in Lake Erie
  • 11. Rev. Henry, Jay Jr., and Families Playing Croquet
  • 12. Daughters and Grandchildren Picnicking
  • 13. Luxury Pullman on the Northern Pacific
  • 14. Cooke’s Private Steamer
  • 15. The Sportsmen: Cooke, Charles Barney, Henry Cooke
  • 16. Jay Cooke State Park, Minnesota
  • 17. Jay Cooke Statue in Minnesota
  • 18. Jay Cooke Jr.’s Mansion in Philadelphia
  • 19. Charles Barney Mansion
  • 20. John Butler Mansion
  • 21. Midwestern Farmhouse
  • 22. Colorado Mining Town
  • 23. Railroad Workers’ Shanty
  • 24. Eleutheros Cooke’s House in Sandusky, OH
  • 25. Charles D. Barney & Co
  • 26. Southern Pacific ad
  • 27. Cooke’s artist Thomas Moran, 1883
  • 28. Moran at Mammoth Hot Springs, Yellowstone, 1871
  • 29. Moran’s sketch of Cinnabar Mountain, 1871
  • 30. Moran’s sketch of Devil’s Slide, Yellowstone, 1871
  • 31. Moran’s Excelsior Geyser, Yellowstone, 1871
  • 32. The Grand Canyon of the Yellowstone (1872, commissioned by Jay Cooke)
  • 33. Marketing the West: A Northern Pacific $60 Chit for the Park
  • 34. Northern Pacific ad for Mammoth at Yellowstone, 1902
  • 35. Marketing the West: Be an Early White Explorer
  • 36. Marketing the West: Nostalgia for Adventure
  • 37. The Old West: Nostalgia or Triumphalism?
  • 38. Northern Pacific ad
  • 39. Old Faithful
  • 40. Jay Cooke and the Gilded Age – Key Ideas
    • the idea of capitalism
    • the source of profit (labor theory of value)
    • capital accumulation (method of obtaining profit)
    • investments (capital circulation, “making money work for you”)
    • investment banking (managing capital, floating stocks and bonds)
    • locking up accumulated capital (creating family trusts)
    • the development of advertising (creation of desire)
    • development of tourism and creation of “destinations”