Great Fortunes and How They Were Made by James D. McCabe

---

This summary is based on the work Great Fortunes, and How They Were Made; or The Struggles and Triumphs of our Self-Made Men by James D. McCabe, Jr., published in 1871. The book aims to inspire and instruct readers by chronicling the lives of Americans who achieved eminent success, attributing their triumphs not to luck, but to the intelligent application of fixed principles like industry, genius, and unyielding perseverance.

Who May Benefit from the Book

• Young men seeking models for success.
• Entrepreneurs establishing legitimate businesses.
• Those struggling for fame or fortune.
• Aspiring inventors seeking encouragement through adversity.
• Intelligent readers interested in American genius and character elevation.

Top 3 Key Insights

1. Success is not accidental, but the result of the intelligent application of certain fixed principles to daily affairs.
2. Financial prosperity requires a foundation of rigid honesty, intense industry, and prudence, avoiding mere speculation.
3. Genius, whether mechanical or professional, demands unyielding perseverance to conquer skepticism, poverty, and repeated failures.

4 More Lessons and Takeaways

1. Self-made men are crucial to national welfare, contributing to the increase of wealth, development of resources, and elevation of national character.
2. Thorough mastery of every minute detail of one’s profession is essential, providing a source of power and preparedness for unexpected crises.
3. The highest form of success often manifests as philanthropy and public spirit, conferring lasting benefits on the country, regardless of personal riches.
4. Courageous, farsighted action—such as strategic real estate investment or market anticipation—is necessary to capitalize on growth opportunities.

The Book in 1 Sentence

This compelling summary of American genius details how self-made titans overcame extreme hardship to secure fortunes through industry, integrity, and profound professional dedication.

The Book Summary in 1 Minute

Great Fortunes, and How They Were Made tells the story of prominent Americans who rose from humble beginnings to achieve unparalleled success. The author emphasizes that their fortunes were not due to luck, but to the diligent application of fixed principles like genius, industry, foresight, and unyielding perseverance. Figures like Stephen Girard, Alexander T. Stewart, and John Jacob Astor built commercial empires on rigorous system, financial integrity, and keen market anticipation. Inventors like Charles Goodyear and Elias Howe revolutionized industry through decades of experimentation, enduring ridicule and poverty to realize their mechanical visions. Whether accumulating vast wealth (Vanderbilt, Drew) or winning renown through public service (Marshall, Peabody), these biographies provide models of character, illustrating how personal struggle contributes to national prosperity and development.

---

Chapter-wise Book Summary

The book is structured into eleven parts, focusing on different professional paths to success.

I. MERCHANTS

CHAPTER I. STEPHEN GIRARD.

“I am of opinion that those who have any claim for interest on public stock, etc., should patiently wait for a more favorable moment, or at least receive in payment treasury notes.”

Stephen Girard, born in Bordeaux, France, came to Philadelphia by chance in 1776 after his ship was driven into the Delaware Bay during the Revolutionary War. He began as a grocer and wine-bottler, eventually establishing a vast commercial enterprise through unwavering industry and rigid attention to business details. Girard was a master of navigation and commerce, demanding strict obedience from his captains, believing deviation from orders was dangerous. Though personally reserved and economical, he demonstrated profound financial liberality and public spirit: he saved the US government by subscribing to the entire $5 million loan in 1814 and restored public confidence. He was also noted for his heroism during Philadelphia’s yellow fever epidemics, personally managing the hospital and tending to the sick. He founded Girard College through his noble bequests.

• Key Points:
  • Success resulted from intense industry and thorough knowledge.
  • Financial integrity was fundamental; he never departed from his pledged word.
  • Exhibited great public spirit, stabilizing government finance and aiding the sick.

CHAPTER II. JOHN JACOB ASTOR.

“Had our place and property been fairly captured, I should have preferred it; I should not feel as if I were disgraced.”

Astor came to America from Germany penniless but resolved to be honest, industrious, and avoid gambling. He saw the opportunity for fortune in the fur trade, learning every minute detail of the business by questioning trappers. Astor invested his earnings strategically in New York real estate, maintaining a firm faith in the city’s future, which yielded immense profits. He was known for his keen sagacity and capacity for large, long-term enterprises, such as the ambitious but ultimately failed Astoria colonization scheme. He practiced rigid economy in his expenditures throughout his life.

• Key Points:
  • Gained power through mastering every detail of the fur trade.
  • Practiced rigid economy and simple habits even when wealthy.
  • Foresight led to massive success in strategic real estate investment.

CHAPTER III. ALEXANDER T. STEWART.

“His first rule was honesty between seller and buyer.”

Alexander T. Stewart, an Irish immigrant initially educated for the ministry, began his mercantile career by opening a dry goods store in New York. Working 14 to 18 hours daily, he built a reputation for reliability based on the rule of honesty and the system of selling at one fixed price. He displayed great business courage, notably marking down his entire stock below wholesale cost during a crisis to meet a note, which established his credit. His keen sagacity allowed him to anticipate the crisis of 1837 and profit significantly by buying goods cheaply at auction and selling them rapidly through his “selling off at cost” system. Stewart maintained a highly rigid system in his colossal dry goods establishment.

• Key Points:
  • Founded success on honesty and a fixed-price selling system.
  • Profited during the 1837 financial crisis due to foresight and cash strategy.
  • Managed his immense retail empire through rigid system and detailed supervision.

CHAPTER IV. AMOS LAWRENCE.

“As a first and leading principle, let every transaction be of that pure and honest character that you would not be ashamed to have appear before the whole world as clearly as to yourself.”

Amos Lawrence, of Massachusetts, began his career in Boston commerce, establishing his business on principles of prudence, economy, and integrity. He was noted for avoiding speculation and introducing the system of double-entry bookkeeping to Boston. Lawrence lived by the rule of always having assets at least forty percent greater than his debts, which saved him from financial embarrassment. He viewed his wealth as a stewardship and was immensely philanthropic, donating over six hundred thousand dollars in the last 24 years of his life, often requesting anonymity. He is presented as the model American merchant—upright, sagacious, and sincerely Christian.

• Key Points:
  • Established a financial safety net (40% surplus rule) to avoid debt.
  • Strongly opposed speculation, favoring fair profits from legitimate business.
  • Viewed riches as a stewardship, dispensing massive, modest charities.

CHAPTER V. ANDREW V. STOUT.

“He had earned seventeen thousand dollars, and could earn seventeen thousand dollars more. He did confide in one friend.”

Andrew V. Stout, orphaned early, worked hard to support his family and educate himself, teaching English and Latin classes before entering commerce. His defining moment came when, facing ruin after endorsing a note for a friend, he refused bank accommodation and paid the entire debt ($23,000) despite not being legally obliged (as he was a minor) and having earned none of the money. This act of integrity established his fame as an honest financier and laid the foundation for his great fortune in the wholesale boot/shoe and dry goods trades, eventually leading him to become President of the Shoe and Leather Bank.

• Key Points:
  • Self-educated and took on difficult teaching roles.
  • Chose integrity over avoiding a crippling debt, establishing his financial reputation.
  • Attained success through close attention to business and system.

CHAPTER VI. JONAS CHICKERING.

“My hope of success is based only on the ground that I possess the intelligence necessary to the prosecution of my labors.”

Jonas Chickering, initially a cabinet-maker, turned to piano manufacturing after successfully repairing an instrument. He devoted himself to mastering the theory of sound and applying mechanical philosophy to piano construction, basing his hope of success entirely on intelligence. His key invention was an improvement in the framing of pianos and the circular scale for square pianos, which he generously made free to the world. After his partner Captain Mackay was lost at sea, Chickering successfully managed the entire magnitude of the business himself, contrary to the fears of his friends, paying off huge mortgages. He built the largest piano factory in the US (at the time) and maintained impeccable integrity, training his sons to succeed him.

• Key Points:
  • Revolutionized piano quality through intelligence and mastery of sound theory.
  • Generously gave his core mechanical innovations free to the public.
  • Showed energy by immediately rebuilding his factory after a fire, supporting his workmen.

CHAPTER VII. NICHOLAS LONGWORTH.

“Decent paupers will always find a plenty to help them, but no one cares for these poor wretches. Every body damns them, and as no one else will help them, I must.”

Nicholas Longworth moved to Cincinnati to study law, where his first case earned him two stills, which he traded for 33 acres of barren land in the city’s suburb. This real estate investment, founded on his foresight concerning Cincinnati’s rapid growth, eventually made him a multimillionaire. Longworth was a public benefactor, dedicating immense effort and capital to establishing the Catawba grape culture in the Ohio Valley, significantly boosting the region’s prosperity. Known for his eccentricity and generosity, he focused his charities on “the devil’s poor”—vagabonds and drunkards—who were shunned by others, helping them rise above wretchedness.

• Key Points:
  • Founded his vast fortune through real estate foresight in Cincinnati.
  • Spearheaded the successful establishment of American grape and wine culture.
  • Unconventional philanthropist, focusing on outcasts and vagabonds.

CHAPTER VIII. GEORGE PEABODY.

“Though Providence has granted me an unvaried and unusual success in the pursuit of fortune in other lands, I am still in heart the humble boy who left yonder unpretending dwelling.”

George Peabody started working at age eleven and quickly developed a reputation for punctuality and integrity. He rose rapidly as a merchant in Baltimore before establishing a banking house in London. Peabody earned fame in 1837 by stabilizing the credit of the State of Maryland during a commercial crisis. He was also noted for his patriotism, saving the United States from humiliation at the London Exhibition of 1851 by financing the American exhibit. His life was defined by extreme munificence; he gave away over $8 million to educational funds, colleges, and housing for the poor in London, often taking the whole English-speaking race as his family.

• Key Points:
  • Restored American credit during the 1837 commercial crisis.
  • Provided massive funding for American exhibitors at the London Exhibition.
  • Exceeded all others in philanthropy, donating millions to public causes.

II. CAPITALISTS

CHAPTER IX. CORNELIUS VANDERBILT.

“He soon became the best boatman in the port. He attended to his business more regularly and strictly than any other. He had no vices.”

Cornelius Vanderbilt began his career as a young boatman on the Staten Island ferry, renowned for his firmness, economy, and unceasing industry. He earned three thousand dollars in three summers, using his earnings to improve his vessels and mastering the art of safe navigation. He transitioned into steamboat management and won the “steamboat war” through sheer skill and building his own vessels, refusing offers of high salary because he “only wants to carry his point”. His later triumphs in the railroad industry were based on systematic management and an aggressive business approach.

• Key Points:
  • Early success was built on superior skill and industry as a boatman.
  • Maintained systematic management and firmness throughout his career.
  • Refused to be dissuaded by rivals, always insisting on carrying his point.

CHAPTER X. DANIEL DREW.

“He perseveres—His success—Formation of the ‘People’s Line’ on the Hudson River—The floating palaces—Forms a partnership with George Law, and establishes the Stonington line—Opening of the Hudson River Railway—Drew’s foresight—Room enough for the locomotive and the steamboat—Buys out the Champlain Company—Causes of his success as a steamboat manager—Becomes a banker—His success in Wall Street.”

Daniel Drew, born in 1797, began life as a farmer’s boy before moving to New York and becoming a successful cattle drover. He transitioned into steamboat ownership, persevering despite opposition from Vanderbilt. Drew demonstrated foresight by believing that both steamboats and railroads would thrive, and became successful as a steamboat manager due to judicious and liberal management, hiring carefully selected employees, and prioritizing safety. He later found success in Wall Street and was noted for his courage and calmness during the Panic of 1857, where he helped save the Erie Railway.

• Key Points:
  • Transitioned from drover to powerful steamboat owner and financier.
  • Showed foresight in anticipating simultaneous growth of rail and water transport.
  • Calmness and courage in financial panics were crucial to his banking success.

CHAPTER XI. JAMES B. EADS.

“Undertakes to build seven ironclads in sixty-five days—Magnitude of the undertaking—His promptness—Builds other gunboats during the war—The gunboat fleet at Forts Henry and Donelson the private property of Mr. Eads—Excellence of the vessels built by him—A model contractor—Residence in St. Louis.”

James B. Eads, who showed a passion for machinery from childhood, worked his way up from selling apples to clerking on a Mississippi steamer. He made his initial fortune through the successful recovery of wrecked steamboats. His most significant contribution came during the Civil War, where he proposed a plan for the defense of the western rivers and became a model government contractor. He demonstrated remarkable promptness and efficiency by undertaking to build seven ironclad gunboats in only sixty-five days.

• Key Points:
  • Early mechanical skill led to successful steamboat recovery business.
  • Designed and built the crucial fleet of ironclads for western river defense.
  • Completed vast government contracts with unusual promptness and excellence.

CHAPTER XII. CYRUS W. FIELD.

“It is but just that he, who was the chief instrument in obtaining for the world this great benefit, should receive the chief measure of the praise which it has brought to all connected with it.”

Cyrus W. Field retired rich at age thirty-four after rapid success in commerce. Inspired by a proposal for a Newfoundland telegraph, he conceived the ambitious, visionary idea of a telegraph across the Atlantic Ocean. Despite the project being condemned as impractical, enduring multiple catastrophic cable failures (1857, 1858, 1865), and facing discouraging financial difficulties, Field demonstrated heroic courage and perseverance. He secured the eventual success of the Atlantic cable in 1866, spending twelve years of constant toil and making over fifty transatlantic voyages.

• Key Points:
  • Conceived and tirelessly promoted the transatlantic telegraph idea.
  • Endured numerous catastrophic failures and discouraging public opinion.
  • His energy and perseverance were the chief instruments of final success.

III. INVENTORS

CHAPTER XIII. ROBERT FULTON.

“The Committee of the London Exhibition of 1851 gave utterance in their report to a declaration which places his fame beyond assault, as follows: ‘Many persons, in various countries, claim the honor of having first invented small boats propelled by steam, but it is to the undaunted perseverance and exertions of the American Fulton that is due the everlasting honor of having produced this revolution, both in naval architecture and navigation.'”

Robert Fulton, born in Pennsylvania, initially trained as an artist but was encouraged by the Duke of Bridgewater to pursue civil engineering. Despite widespread ridicule and the disbelief of scientific experts, Fulton, in partnership with Livingston, achieved the first successful steam navigation on the Hudson River with the Clermont. Though he did not invent steam navigation, his skill and perseverance transformed it from an experiment into a practical, profitable achievement, revolutionizing global commerce and navigation.

• Key Points:
  • Transitioned from art to mechanical engineering.
  • Conquered difficulties that had baffled others in steam navigation.
  • His undaunted perseverance made steam travel both practicable and profitable.

CHAPTER XIV. CHARLES GOODYEAR.

“I am the man that can save them?”

Charles Goodyear, a bankrupt merchant, dedicated himself to solving the inherent instability issues of India-rubber. His ten-year quest was marked by extreme poverty, personal suffering, and being labeled a “monomaniac” by friends. The secret of vulcanization—mixing rubber with sulphur and exposing it to heat—was revealed by accident when he dropped a piece on a hot stove. Although he was unable to secure his rights and died insolvent, his invention created a new material for art and commerce, giving rise to factories employing sixty thousand operatives globally.

• Key Points:
  • Persisted for ten years despite poverty and failures.
  • Discovered vulcanization through an accidental exposure to heat and sulphur.
  • Died poor, yet his invention created massive wealth for others.

CHAPTER XV. ELI WHITNEY.

“The general exclamation was, that a fortune was made, and a fortune that would not be the less important to the South than to the inventor.”

Eli Whitney, a New England schoolmaster, developed a machine to clean cotton expeditiously, which quickly became known as the cotton gin. The invention revolutionized cotton culture in the South, boosting exports from 10,000 to over 4 million bales annually by 1860. Despite the immense societal benefit of his work, Whitney was victimized by wholesale infringement and legal battles; his patent was ignored, and Southern courts united in robbing him of his rights. Thoroughly disheartened, he abandoned the cotton gin business and only later acquired a fortune manufacturing firearms.

• Key Points:
  • Mechanical genius revolutionized the Southern economy via the cotton gin.
  • Systematically cheated and robbed by infringers in the South.
  • Abandoned his primary invention to find success manufacturing firearms.

CHAPTER XVI. CHAUNCEY JEROME.

“All this was done to bring the business to a system, and to place it on a basis of honesty, promptness, and accuracy.”

Chauncey Jerome, whose early life was characterized by hard farm labor and a strict apprenticeship, worked his way up in the clock trade. He realized that wooden clocks were susceptible to moisture damage. While lying awake, he conceived the idea of manufacturing clockworks cheaply from brass. He subsequently invented the necessary labor-saving machinery, which drastically reduced the cost of clocks (to 40 cents each) and revolutionized the Connecticut clock trade, driving wooden clocks out of the market.

• Key Points:
  • Recognized and solved the failure point of wooden clocks (moisture).
  • Invented machinery to manufacture cheap, reliable brass clockworks.
  • Revolutionized clock trade, lowering the cost dramatically.

CHAPTER XVII. ELIAS HOWE, JR.

“He watched his wife as she sewed, and his first effort was to devise a machine which should do what she was doing.”

Elias Howe, Jr., struggling with ill health and poverty as a journeyman machinist, was motivated to invent a machine for sewing. His breakthrough came when he realized that a machine need not imitate the hand motion, leading him to invent the lock stitch, utilizing a curved, eye-pointed needle and a shuttle. Despite perfecting the machine by 1844, he faced years of poverty, skepticism from tailors, and betrayal by a London merchant. After returning to America to find his wife dying, he eventually won extensive legal battles that established his patent rights, earning millions in royalties.

• Key Points:
  • Invented the core sewing-machine lock stitch principle.
  • Struggled through poverty, using an attic workshop to build his model.
  • Gained fame and fortune only after successful defense of his patent rights.

CHAPTER XVIII. RICHARD M. HOE.

“How the ‘Lightning Press’ was invented—A good night’s work—Patents his invention—The first ‘Lightning Press’—Demand for it—Rapid growth of the business of the firm—Statement of the operations of the house—Personal characteristics of Richard M. Hoe—The ‘Lightning Press’ at work.”

Richard M. Hoe inherited his father’s printing press business and exhibited mechanical genius early on, inventing an improved grinding saw. Driven by the demand for increased speed in printing, Hoe invented the double-cylinder press and then the revolutionary “Lightning Press” (rotary press). The final version, the ten-cylinder press, could strike off 25,000 sheets per hour. Hoe’s inventions drastically increased printing facilities, leading to the rapid growth of his firm and supplying major newspapers worldwide.

• Key Points:
  • Mechanical genius focused on improving printing speed.
  • Invented the revolutionary “Lightning Press” (rotary press).
  • His presses enabled major journals to print 25,000 sheets per hour.

CHAPTER XIX. SAMUEL COLT.

“It was decided by the revolver—Triumph of Col. Colt—Cessation of the demand for arms—Failure of the company—Beginning of the Mexican War—Action of General Taylor—No revolvers to be had—A strange dilemma for an inventor—The new model—Contracts with the Government—Success of the revolver in Mexico.”

Samuel Colt, a restless boy who ran away to sea, first conceived the idea for the revolver mechanism during a voyage. Despite opposition from military officers, the revolver proved decisive in the Florida War. Colt faced the failure of his first arms company due to lack of demand, but the Mexican War revived his fortunes when General Taylor needed revolvers. Colt established a massive, state-of-the-art armory in Hartford, demonstrating his entrepreneurial magnitude by first surrounding 250 acres of meadow with a strong dike to reclaim the land for his factory.

• Key Points:
  • Invented the successful repeating fire-arm (revolver) while young and at sea.
  • Achieved business success only after military necessity proved the weapon’s value.
  • Built the largest and most perfect armory in the world using innovative land reclamation.

CHAPTER XX. SAMUEL F.B. MORSE.

“How the electric telegraph was invented—Morse is made a professor in the University of New York—Completion of his model—An imperfect telegraph—His first experiments—The duplicate finished—First exhibition of the telegraph—Morse applies for a patent—Visits Europe to introduce his invention—His failure—Seeks aid from Congress—A disheartening effort—A long struggle—Independence of Morse—Despondent at last—A sudden lifting of the cloud—The experimental line—The trial—A curious Cabinet Minister—Success of the telegraph—Establishment of companies in the United States—Professor Morse wins fame and fortune—The telegraph in Europe—Honors at home and abroad—A list of his rewards—Morse originates submarine telegraphy, and predicts the laying of an Atlantic telegraph—Personal characteristics.”

Samuel F.B. Morse, initially an artist, became interested in electro-magnetism during his studies. While returning from Europe in 1832, he conceived “not merely the idea of an electric telegraph, but of an electro-magnetic and chemical recording telegraph, substantially and essentially as it now exists”. Despite years of struggle, lack of funds, and failing to gain European patents, he persisted until Congress finally funded the experimental line. The eventual success of the telegraph earned Morse widespread international honors and monetary testimonials, including the sum of 400,000 francs from a convention of European powers.

• Key Points:
  • Conceived the electro-magnetic recording telegraph while on a packet ship.
  • Faced a long, disheartening struggle to gain Congressional funding.
  • Received massive international recognition and collective financial testimonials.

IV. PUBLISHERS

CHAPTER XXI. JAMES HARPER.

“In such an undertaking it is very difficult to select ‘Harper,’ and impossible to pass by the ‘Brothers.'”

James Harper, the eldest of the four Harper brothers, started in business with his brother John after a tough apprenticeship, founding the firm J. & J. Harper, Printers. They began with little capital but sustained by high moral principle and a determination for honesty. Their success was built on cautious, systematic publishing, including mastering stereotyping. They strategically published the “Library of Select Novels” at low prices to drive out “yellow covers,” aiming to elevate popular taste. Their establishment was known for its state-of-the-art machinery, efficiency, and loyalty among employees.

• Key Points:
  • Founded the publishing house on honesty and mutual confidence.
  • Mastered the process of stereotyping to control costs.
  • Elevated popular literary taste by publishing quality novels cheaply.

CHAPTER XXII. JAMES T. FIELDS.

“The total number of books sold by this house since its formation is said to be upward of two millions, a success unprecedented in American publishing.”

James T. Fields began as a clerk at Boston’s “corner book-store” and dedicated his leisure hours to study, overcoming his lack of a college education. He rose rapidly to become head clerk and then partner (Ticknor & Fields). His literary talent and mercantile integrity attracted the best American and English authors, giving the firm’s imprint a guarantee of excellence. Fields was unusual in being highly successful in both literature (publishing poems and critical essays) and mercantile life.

• Key Points:
  • Compensated for lack of college education through dedicated self-study.
  • Attracted leading authors by treating them honorably and liberally.
  • Achieved rare success as both a publisher and a man of letters.

V. EDITORS

CHAPTER XXIII. JAMES GORDON BENNETT.

“A little more than a year later he left Glasgow, and in May, 1819, being now about twenty years old, landed at Halifax, Nova Scotia.”

James Gordon Bennett, originally destined for the priesthood, was inspired by Benjamin Franklin’s autobiography to emigrate to America. After early failures in teaching and publishing party papers, he returned to New York determined to establish an independent journal aimed solely at the public. Starting the New York Herald in a cellar with almost no capital, he acted as his own editor, reporter, and vendor. His success was driven by intense work (16-17 hours daily), novelty (such as the first “money article”), and exhaustive reporting of events like the “great fire,” which created massive demand. The Herald became the world’s leading newspaper in news gathering and promptness.

• Key Points:
  • Established the Herald as an independent journal focused solely on news.
  • Originated the financial news column (money article) in American journalism.
  • Revolutionized reporting by providing minute, graphic, and exhaustive coverage.

CHAPTER XXIV. ROBERT BONNER.

“His advertisements were to be seen in almost every newspaper of respectable circulation throughout the Union. In form they were different from any that had preceded them.”

Robert Bonner, an Irish immigrant, first excelled as a printer before purchasing the Merchant’s Ledger. He transformed it into a profitable literary journal through audacious marketing and extreme liberality toward writers. Bonner was famous for his skillful and novel advertising methods, often dominating newspaper space and attracting curiosity. He secured contributions from eminent figures like Edward Everett (for Mount Vernon fundraising) and Henry Ward Beecher, lending his publication immense credibility and readership, resulting in a circulation exceeding 300,000 copies weekly.

• Key Points:
  • Achieved success through bold, pioneering advertising strategies.
  • Secured top literary talent by paying unprecedented sums (e.g., Fanny Fern, Everett).
  • Built the New York Ledger into a massive, profitable family publication.

VI. LAWYERS

CHAPTER XXV. JOHN MARSHALL.

“Although belonging to a past generation, his story is presented here because I wish to offer to those who seek to follow him in his noble calling the purest and highest model our history affords.”

John Marshall, Chief Justice of the United States, is presented as the model American lawyer—learned, eloquent, and possessing the “soul of honor”. His foundational education came directly from his devoted father. Marshall served in the Revolutionary War and endured the hardships of Valley Forge. Despite his humble dress, which once caused him to be mistaken for a yeoman, his legal ability was undeniable. He scorned legal advantage at the expense of moral honesty. Marshall was known for his humility, kind courtesy, and providing an eloquent, unanswerable defense of Christianity during a late-night argument.

• Key Points:
  • Established his career on integrity and profound legal knowledge.
  • Demonstrated humility despite his high judicial office and fame.
  • Provided an unexpected and brilliant defense of Christianity.

CHAPTER XXVI. JAMES T. BRADY.

“I have never desired to recall it.”

James T. Brady was admitted to the bar at age twenty. He was characterized by loving kindliness, humor, and independence. He was a diligent student of law and general knowledge, resolving to master his profession completely. Brady rose quickly to prominence after an eloquent defense of newsboys, leading to a large and lucrative practice. He was fearless in court, famously defying a judge’s charge to protect his client’s rights. His profound legal knowledge allowed him to master complex cases (like the India-rubber suit) and develop innovative defenses, such as the theory of moral insanity. After his parents died, he focused his affection on supporting his brother and five sisters, never marrying.

• Key Points:
  • Combined legal study with wide general reading to achieve mastery.
  • Was fearlessly independent, even protesting a judge’s charge in court.
  • Supported his entire family of siblings, channeling his affection toward them.

VII. ARTISTS

CHAPTER XXVII. BENJAMIN WEST.

“My God! how like it is to a young Mohawk warrior.”

Benjamin West, born in Pennsylvania, displayed artistic genius from childhood; his first colors were gifted by local Indians, and his mother dedicated him to art. His visit to Italy at age twenty led to a famous moment when he compared the majestic statue of the Apollo Belvedere to a young Mohawk warrior. He settled in England, eventually becoming President of the Royal Academy. West is credited with inaugurating a new era of historical painting by insisting on contemporary dress, notably in his famous work, “The Death of Wolfe”.

• Key Points:
  • Displayed innate artistic genius from a very young age.
  • Shocked European critics by comparing the Apollo to a Mohawk warrior.
  • Achieved the highest recognition as an American artist abroad.

CHAPTER XXVIII. JOHN ROGERS.

“These works appeal to a deep popular sentiment. They are not pretentious displays of gods, goddesses, ideal characters, or stupendous, world-compelling heroes.”

John Rogers first worked as a clerk before pursuing art, enduring opposition from his parents and failing health. He became a machinist, working long hours while practicing modeling clay at night. After studying casting methods, he established himself in New York, achieving immediate popularity through his statuettes. His sculptures focused on accessible, popular subjects, particularly scenes from American domestic and Civil War life (e.g., “The Returned Volunteer,” “The Town Pump”).

• Key Points:
  • Practiced modeling at night while working intensely as a machinist.
  • Achieved fame by creating realistic, popular statuettes.
  • Focused subjects on American domestic and military life, appealing to sentiment.

CHAPTER XXIX. HIRAM POWERS.

“‘I did not dare,’ says Powers, ‘in my humility and reverence for these two great men, to say what I wanted to in reply; to tell the Baron that my ‘art’ consisted in concealing art, and that my ‘nature’ was the highest art I knew or could conceive of.'”

Hiram Powers moved to Ohio as a boy, enduring poverty and mechanical labor. His mechanical aptitude allowed him to quickly become a factory supervisor. He began his artistic career restoring wax figures for a Cincinnati museum, even dressing as the Devil to entertain crowds. A trip to Washington, D.C., led to his celebrated bust of Andrew Jackson. Powers settled in Florence, Italy, where he gained international acclaim; he maintained that true art consisted in concealing art and that “nature was the highest art”.

• Key Points:
  • Mechanical aptitude allowed him to rise from poverty to factory manager.
  • Gained early exposure to art restoring wax figures in a museum.
  • Insisted on making “truth” his only guide, viewing nature as the highest art.

CHAPTER XXX. EMMANUEL LEUTZE.

“If Leutze were not a painter, he would certainly join some expedition to the Rocky Mountains, thrust himself into a fiery political controversy, or seek to wrest a new truth from the arcana of science….”

Emmanuel Leutze, an American by adoption, studied in Dusseldorf and quickly gained success, though he abandoned an early commission due to the difficulty of painting engrossed politicians. He was later inspired to create historical paintings focusing on human sorrow and heroism. His most famous work, commissioned by the U.S. government, was the fresco in the Capitol, “Westward the Star of Empire takes it Way,” depicting emigrants crossing the Rocky Mountains. Leutze was known for his vast technical learning, his delight in adventure, and his preference for the dramatic and heroic phases of life.

• Key Points:
  • Achieved early success in portraits despite initial despondency.
  • Painted the great Capitol fresco, “Westward the Star of Empire takes it Way”.
  • His forte was the dramatic, drawing inspiration from adventure and heroism.

VIII. DIVINES

CHAPTER XXXI. HENRY WARD BEECHER.

“I find that when one’s heart is wrapped and twined around the hearts of others, it is not difficult to pray.”

Henry Ward Beecher, son of a famous divine, was initially regarded as the “dunce” of his large family, struggling with a bad voice and deficient memory. He was intensely resistant to the strict doctrinal teaching of his youth. After graduating from Amherst, he entered the ministry, resolving to preach Christ as the “Friend and Helper of humanity”. He developed his success by going into public resorts and listening to conversations to learn what was “uppermost in the thoughts of the many,” enabling him to apply his teachings directly to their daily lives. As pastor of Plymouth Church, he gathered the largest regular congregation in America and his sermons are widely published.

• Key Points:
  • Overcame early academic struggles and speech impediments.
  • Based his preaching success on understanding the daily thoughts and trials of his congregation.
  • His primary message was Christ as the Friend and Helper of humanity.

CHAPTER XXXII. PETER CARTWRIGHT.

“I have never been overtaken in any scandalous sin, though my shortcomings and imperfections have been without number.”

Peter Cartwright, the “Backwoods Preacher,” began his ministry in the Kentucky wilderness, where he adapted his style to the rough, untamed frontier people. He was a hardy circuit rider, known for using powerful “fire and brimstone” rhetoric to shake converts, and traveling vast distances, often swimming streams and sleeping on the ground. Cartwright was a fierce temperance advocate. He was known for his courage in suppressing violence at camp meetings and enduring intense physical danger throughout his 67 years of ministry, having outlived nearly all his contemporaries.

• Key Points:
  • Adapted his ministry style to the rough, simple frontier communities.
  • Traveled vast, dangerous circuits on horseback, demonstrating extreme fortitude.
  • Known for courage, suppressing riots, and temperance advocacy.

IX. AUTHORS

CHAPTER XXXIII. HENRY W. LONGFELLOW.

“He has overstepped the bounds of country, and had made himself the poet of the English-speaking race.”

Henry W. Longfellow, son of a distinguished lawyer, began his career as a professor at Bowdoin College. His literary reputation grew with his travel sketches, Outre Mer, and subsequent appointment to Harvard. Living in the historic Craigie House, he produced major works like Hyperion and Evangeline. Longfellow is renowned for the exquisite tenderness and simplicity in his writing, dealing with the “fresh, simple emotions of the human soul,” making him the beloved poet of the English-speaking world.

• Key Points:
  • Established literary fame through travel sketches (Outre Mer) and academic pursuits.
  • Known for tender sympathy and simplicity of emotion in his poetry.
  • His work transcended national boundaries to become universally beloved.

CHAPTER XXXIV. NATHANIEL HAWTHORNE.

“The most unknown author in America.”

Nathaniel Hawthorne, descended from a sea-going Puritan race, grew up in solitude after his father’s early death. After college, he lived for years in deep seclusion in Salem, writing “wild tales”. Despite his Twice-Told Tales being acclaimed by Longfellow, he remained virtually unknown. Hawthorne served in the Boston Custom-House, where he observed and gathered material from sailors. His masterpiece, “The Scarlet Letter,” was born during his time as Surveyor of the Port of Salem, securing his fame. He later served as Consul to Liverpool, appointed by his college friend, Franklin Pierce.

• Key Points:
  • Spent years in self-imposed seclusion, honing his writing craft.
  • Used his Custom-House tenure to study human character and gather material.
  • Gained immense fame with his masterwork, The Scarlet Letter.

X. ACTORS

CHAPTER XXXV. EDWIN BOOTH.

“He is a man of irreproachable life, and in every thing a high-toned gentleman, and it is the high character he bears not less than his genius that has enabled him to do such honor to his profession.”

Edwin Booth, son of the “Great Booth,” began his training on the stage from infancy, learning from his father. He developed his skills through hard work and travel, eventually opening Booth’s Theater, a magnificent establishment dedicated to the drama. Booth is considered unparalleled as an actor; his impersonations are marked by rare genius and meticulous study, enabling him to entirely discard his own personality. His high moral character, combined with his genius, brought honor to his profession.

• Key Points:
  • Trained on stage from infancy under his famous father.
  • Established Booth’s Theater as a magnificent home for the drama.
  • His genius lay in profound study and ability to completely discard his own personality.

CHAPTER XXXVI. JOSEPH JEFFERSON.

“His quiet undercurrent of humor subserves the same purpose in the role of Bob Acres that it does in other characters. It is full of points, so judiciously chosen, so thoroughly apt, so naturally made and so characteristically preserved, that the part with Jefferson is a great one.”

Joseph Jefferson came from a long line of famous actors. After early struggles and successes in parts like Asa Trenchard, he made Rip Van Winkle his specialty. His portrayal of Rip is deeply human and sympathetic, combining humor and pathos irresistibly. Jefferson is a thoroughly American actor, avoiding sensationalism and focusing on pure art, achieved through careful study and intelligent analysis. He is known for his genial, sunny disposition, generosity, and passion for his art.

• Key Points:
  • Part of a dynasty of famous stage actors.
  • Achieved his greatest fame making the character Rip Van Winkle his specialty.
  • A thoroughly American actor focused on pure art, emotional honesty, and careful study.

XI. PHYSICIANS

CHAPTER XXXVII. BENJAMIN RUSH.

“The most eloquent and unanswerable appeal was made, for nearly an hour, by the old gentleman, that he ever heard or read.”

Benjamin Rush, a graduate of Princeton (1760), studied medicine extensively in Europe before beginning practice in Philadelphia. He was a political activist, serving in the Continental Congress and signing the Declaration of Independence. His great professional triumph was during the yellow fever epidemic of 1793, where his controversial but effective treatment (purging and bleeding) saved thousands of lives, despite fierce opposition from the medical faculty. Rush was devoted to Christianity and provided prompt, free services to the poor.

• Key Points:
  • Achieved eminence in both medicine and politics (signed the Declaration of Independence).
  • Successfully treated thousands during the devastating 1793 yellow fever epidemic.
  • Known for his strong Christian faith and liberal charity toward the poor.

CHAPTER XXXVIII. VALENTINE MOTT.

“He had the power of winning the attention of his pupils at the opening of his lectures and of retaining it until the close.”

Valentine Mott studied surgery extensively in London and Paris under masters like Sir Astley Cooper. Upon returning to America, he became a distinguished surgical professor, introducing the crucial system of clinical lectures (at the bedside) in the US. He possessed great surgical genius and nerve, but meticulously prepared for every operation by practicing on dead bodies first. During a subject shortage, he personally risked arrest by driving the cart that illegally transported eleven bodies to the dissecting room for his students’ benefit.

• Key Points:
  • Pioneered the system of clinical surgical instruction in the United States.
  • Always practiced operations meticulously on dead bodies prior to live surgery.
  • Demonstrated courage by personally participating in dangerous efforts to acquire anatomical subjects.

---

Notable Quotes from the Book

1. “Fame and fortune are here open to all who are willing to work for them.”
2. “The chief glory of America is, that it is the country in which genius and industry find their speediest and surest reward.”
3. “He was ambitious of regulating the financial operations of the land, and proud of his power in this respect, and it should be remembered in his favor that he did not abuse that power after it had passed into his hands.”
4. “Our enterprise is grand, and deserves success, and I hope in God it will meet it.”
5. “It is, therefore, of the highest consequence that you should not only cultivate correct principles, but that you should place your standard of action so high as to require great vigilance in living up to it.”
6. “Those who strive to introduce many of the European habits and fashions, by displacing our own, do a serious injury to the republic, and deserve censure.”
7. “His manliness, pluck, and integrity, which carried him through that crisis, became the sure foundation-stone on which his great fortune was laid.”
8. “But his judgment commanded respect; his integrity won back the reliance which men had been accustomed to place in American securities.”
9. “We do claim for him the honor of being the first man to cross the gulf which lies between experiment and achievement…”
10. “I feel that on every side my people are in danger, and that many of them are like babes, weak and helpless.”

About the Author

James Dabney McCabe, Jr., is the author of Great Fortunes, and How They Were Made. The work was published in 1871, featuring numerous illustrations from original designs by G.F. and E.B. Bensell. In addition to this volume, McCabe is listed as the author of “PLANTING THE WILDERNESS,” and other works. The biographical collection aims to show how the “Struggles and Triumphs of our Self-Made Men” contributed to national wealth, resources, and character.

How to Get the Most from the Books

Read the biographies as models worthy of imitation to be encouraged in your own struggles. Reflect earnestly on their successes, applying their fixed principles of industry and integrity to your own life.

---

Conclusion

Great Fortunes, and How They Were Made provides a gallery of American genius, demonstrating that the pinnacle of achievement, whether defined by immense wealth or lasting professional impact, is rarely the result of chance. Through the detailed stories of merchants like Girard and Astor, inventors like Howe and Morse, and professionals like Marshall and Peabody, the author fulfills his goal of presenting models for the young men of the country. The enduring lesson is that success depends on intelligent action, rigorous discipline, high moral integrity, and courageous perseverance in the face of inevitable adversity. These self-made men, by developing resources and elevating national character, ultimately won a fortune that transcends mere pecuniary success.