History of Essex County, Massachusetts : with biographical sketches of many of its pioneers and prominent men, Vol. II, Part 191

Author: Hurd, D. Hamilton (Duane Hamilton) ed
Publication date: 1888
Publisher: Philadelphia, J. W. Lewis & Co.
Number of Pages: 1672

USA > Massachusetts > Essex County > History of Essex County, Massachusetts : with biographical sketches of many of its pioneers and prominent men, Vol. II > Part 191

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After this voyage, previous to which he had been married to Hannah, danghter of John Pettingel, he remained at home until the peace of 1815, when he resumed business and for many years was engaged in the East India trade and a general freighting business. In 1821 he bought a woolen-mill in Salisbury, in company with George Jenkins, John Wells and James Ilorton, which, afterwards enlarged, became first the Salisbury Manufacturing Company and later the Salisbury Mills, of which he was for many years the president. From 1825 to 1827 he was presi- dent ofthe Mechanics' Bank, and was for several years Senator and Representative in the State Legislature. Mr. Rand died in Newburyport, October 22,1863, leav- ing two children,-the late Edward S. Rand, of Boston, who was lost at Martha's Vineyard, on board' the "City of Columbus," and the wife of Dr. E. G. Kelley, of Newburyport. Another daughter, not living at the time of his death, married Dr. S. A. Arnold, of Providence, Rhode Island.

Francis Todd was born in Newburyport, February 6, 1779, and began business in the dry-goods line at the age of twenty years. He early engaged in the West India and Southern carrying trade, and gradu- ally extended his business, and enlarged his fleet of vessels to carry it on. The tobacco, cotton and sugar trade with the Sonth and the West Indies, and trade with Russia, South America and the Northern Pacific came within his grasp and brought him into intimate relations with the leading bankers of the world. He made the first consignment of merchan- 111}

dise to George Peabody'when he began business in Baltimore, and always retained his warm friendship. An obituary in the Boston Daily Advertiser of De- cember 2, 1861, from which this sketch is chiefly drawn, says : " Mr. Todd was over half a century in active commercial business without interruption, enjoying perfect health, from his uniform regular and temperate habits of life. Ile was punctilions in the fulfillment of all his engagements and expected others to be the same with him, liberal to all who were nnable from misfortune to fulfill their contracts, and ever ready to aid and assist the young merchant commencing life. IIis charities were freely be- stowed upon the poor and worthy, without display, and known only to himself and the recipients. Mod- est and retiring in his habits, having no tastes for public life, he ever refused to allow his name to be used for public office, considering his sphere was especially intended for mercantile pursuits." lle died in New- buryport, on Thursday, November 28, 1861, in the eighty-third year of his age.

Nathaniel Horton was born and entered upon active life within the period now under consideration. He was born in 1786 and early in life engaged with his brother, Capt. James Horton, in the satinet man- ufacture, in which industry he was among the earliest in the country to embark. He was afterwards in the shoe trade. In the exciting political years of the ad- ministration of Jefferson and Madison he was an ardent Democrat, and with all his energies sustained the measures which the government thought it neces- sary to adopt. He was a member of the Board of Selectmen in 1831, '32, '37, '46, '48, '49, '50, '51, and as its chairman introduced President Polk to the people on his visit to Newburyport in 1847. Upon the organ- ization of the city government in 1851, he was chosen alderman for Ward 4 and continued in office three years. He died Saturday, December 28, 1861, and on the following Monday the Newburyport Herald, in noticing his death, said : " He was a faithful officer as he was a true man ; he was a good officer as he was a good citizen. Strong-willed and sometimes hasty, he was manly, high-minded and strictly honest. Ile did business for the city as he did it for himself, and his integrity was so indisputable that no one thought of obtaining from the town or city through him what they would not have expected for doing the same ser- vices for himself as a private man. This stern integ- rity of the olden time, and this iron conscientiousness that was as unbending as his own firm will, were the distinguishing traits of his character, and are worthy of the more notice as they are less common now than they were in the generation to which he belonged. It is grand to see a man so; stand up intellectually and morally in his own sphere and strength ; to go bravely through the world without shrinking from duty, and at last lie down at the end of so many days and fall asleep."

Before closing this list of sketches it will not be

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HISTORY OF ESSEX COUNTY, MASSACHUSETTS.

out of place to make a brief mention of George Pea- body, of London, who began his business career in Newburyport. He was born February 18, 1795, in that part of Danvers which in 1855 was incorporated as South Danvers and in 1868 named Peabody. He there received his early education, and in 1811, at the age of sixteen, left school and entered as clerk the store of his uncle, David Peabody, in Newburyport. His companions there in social life were Charles Storey, Abner Caldwell and Francis B. Somerby, and it was on the evening of the last of May, 1811, that these young men started for home from Hart's tavern, where they had been bowling, and young Peabody, leaving Storey and Caldwell near the foot of Kent Street and Somerby at Market Street, proceeded on alone. On reaching Inn Street he saw flames burst- ing out from Lawrence's stable and gave the alarm. This was the beginning of the great fire, as it is always called, which swept over sixteen and a half acres of the most compactly built and the busiest part of the town. More than two hundred buildings were consumed between half-past nine o'clock in the even- ing and sunrise the next morning. Nearly all the shops for the sale of dry-goods, four printing-offices, the custom-house, the post-office, two insurance offices, four book-stores, one meeting-house and a hun- dred dwellings were consumed, and suffering and pri- vation ensued which the warm-hearted liberality of Boston and other towns only partially alleviated.

Mr. Peabody remained with his uncle until some time after the fire, when he made arrangements to go into business in Baltimore. So well had he performed his duties as clerk, that he obtained from his uncle and Prescott Spalding and others a joint letter to James Reed, a large wholesale dry-goods dealer in Boston, offering to be security for Peabody in the aggregate sum of $2500 for goods which Mr. Reed might furnish to establish his store. The signers of the letter were all customers of Mr. Reed, who believ- ing that he could trust the person in whom they put their faith, told him that $2500 would be rather a small amount to start a dry-goods store in Baltimore, and offered him goods to the amount of $2500 more to sell on commission for him, so that not only did Mr. Peabody learn his first business lessons in New- buryport, but to the merchants of that town he owed also that timely aid without which that career of prosperity and wealth upon which he afterwards entered may never have been begun.

Not long after he became a partner of Elisha Riggs in the dry-goods trade in New York, and afterwards again in Baltimore. During all this period he made occasional visits to Newburyport, and always remen- bered with pleasure his old friends in that town. A writer in the Newburyport Herald remembers hearing Frank Somerby on a morning in the summer of 1826 or '27 shout to Spakling, " Here comes George Peabody." ? " I looked," says the writer, "and saw coming down the street a tall, fresh-looking, well-dressed man of

.about thirty years of age. He was swinging his right arm and shouting, 'Hello ! Frank.' In a few moments there were a dozen old friends gathered about him, and the warmth of the greeting gave ample evidence of the estimation in which he was held." This was his first visit to Newburyport since he left it twelve or thirteen years before.

In 1843, or thereabouts, Riggs and Peabody sepa- rated, and their business, which had expanded and largely changed its character, was divided. Riggs took the Baltimore business, Peabody the London and Mr. Corcoran, who had been some time also a partner, took the Washington. His career in London is too well known to be restated. Out of his abundant wealth, without waiting for that separation from his riches which death must eventually cause, he preferred the bestowment of benefactions during his life. In 1852 he gave to his native town $20,000 for the founda- tion of an institute, and afterwards increased the amount to $200,000. He contributed $10,000 to the first Grinnell Arctic Expedition, and in 1857 gave $300,000 to found an institute of science, literature and the fine arts in Baltimore, afterwards increasing it to 81,400,000. For the benefit of the poor of London he gave in 1862 £500,000, in recognition of which the Queen presented him with her portrait, and the city of London presented him with the freedom of the city in a gold box, and after his death the citizens erected a statue to his memory. In 1866 he gaveto Harvard College $150,000 to establish a museum and professorship of American archæology and eth- nology, and afterwards $150,000 to found a geological professorship in Yale College, and $2,000,000 to the Southern Educational Fund.

On the 20th of February, 1867, two years before his death, he gave to " Edward S. Mosely, Caleb Cushing, Henry C. Perkins, Eben F. Stone and Joshua Hale, and their successors, the sum of $15,000 to be held by them in trust and kept permanently invested, and the income thereof used and applied in their discre- tion to the enlargement of the public library of the city of Newburyport."

During the mayoralty of Moses Davenport he again visited Newburyport and was introduced by him to the people. Among the crowd was a gray-haired veteran who, on taking him by the hand, said : "You do not remember me, Mr. Peabody." He at once replied : " You are Prescott Spaulding, and were a clerk in the store next to ours at the time of the fire in 1811, which drove me away from this good old town." An old lady said : " Let me shake hands with you, Mr. Peabody ; you do not certainly remem- ber me." " Yes, I do," said he, after a moment ; "I think you are 'Becca Tracy, and I am glad to see you. We will not tell these gentlemen about our playing whist forty years ago."

Mr. Peabody was said to have had a love-affair in Newburyport, and it was further said that the father of the lady said : " George is a very good young man,

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NEWBURYPORT.

but he has no money and ean never support you in the style you must live in." He died in London, November 4, 1869.

William Moulton was born in State Street, New- buryport, August 19, 1872. His ancestors were among the early settlers of Newbury. On his mother's side they went there in 1635, and on his father's in 1637. The Moultons were among the pioneers in Eastern and Central New Hampshire, and the town of Moul- tonborough derives its name from them. Mr. Moulton always lived in Newburyport, and for a half a century was in business and familiarly ealled the honest goldsmith. No man enjoyed or deserved a higher reputation for those noble qualities which make up a manly character. As was said in a notice of him after his death, by the late Daniel N. Haskell, he was in- flexibly honest, cheerful in his disposition, kind in his feelings, reliable in every relation of life, respected by the community and beloved by his kindred. He was not ambitious for political honors, though he was public-spirited, and when in the full vigor of man- hood took an active part in all movements of general interest. He was for many years the only original occupant of any of those fine mansion-houses ereeted on the "Ridge" of High Street sixty years ago. He died in Newburyport, February 14, 1861.

William Faris, or Farris, was born in Belfast, Ire- land, about 1750 and came to Newburyport when he was twelve years of age. He early engaged as an officer in the United States navy during the Revolution. He was a midshipman in the frigate "Boston," and after. wards served as lieutenant and commander in the privateer service. At the elose of the war, after a brief employment by Jackson & Tracey, he began busi- ness on his own account as a member of the banking firm of Faris & Stocker. This firm were bankers for the French refugees, and he is known to have stated that Louis Philippe and Chateaubriand, on their arrival in this country, went to Newburyport, incognito, and had an interview with Talleyrand, then living in the house next the Dexter house, in his counting-room, and that he furnished them with additional funds for their western journey. He further stated that they visited the Dalton house, in Newbury, while they were in town.

Mr. Faris was for some time president of the Ma- rine Insurance Company of Newburyport and for several years was a member of the Legislature. He died about 1835, at the age of eighty-four years.

There were many others belonging to the period, beginning with the close of the Revolution and end- ing with the peace of 1815, whose names are worthy of mention, but who can receive only a passing notice. These were David Peabody (the uncle of George Peabody), James Caldwell, Prescott Spaulding, Arthur Gilman, Joseph Marquand, James Prince, Nicholas Johnson, John Cook, Benjamin Pierce, Mi- cajah Lunt, Eben Stocker, Eben Wheelwright, Charles Story, John Wells, Sr., Peter Le Breton, Stephen

Holland, Jacob and Isaae Stone, Abraham Wheel- wright, John Coffin, Timothy Pilsbury, David Wood and others too numerous to mention, all of whom performed their part in the history of their town. Indeed, there are few towns in whose career so many of their citizens are found to have performed deeds and lived lives worthy of a lasting record.

CHAPTER CXLV. NEWBURYPORT-(Continued).

THIRD PERIOD.

From the War of 1812 to the Incorporation of the City.

THE next period in the history of Newburyport, extending from the peace of 1815 to the annexation of a portion of Newbury and the incorporation of the city in 1851, was not especially eventful. It began with a population of about seven thousand-a valua- tion in round numbers of about three million five hundred thousand dollars, and a tonnage of about twenty-three thousand tons. All three of these items had, of course, fallen off during the war. The town had gone through the experiences of the disastrous French and English complications and the embargo. Between the two, and as if these were not enough to break the courage of its people, the ravages of fire had been added, and yet their hearts were not dismayed nor their hopes entirely clouded. In the winter of 1816-17 a mercantile company was formed for the purpose of pursuing the cod fisheries, and in the following summer sixty vessels, with a tonnage of two thousand eight hundred and seventy-four, were em- ployed with profit in the business. But what the town gained in this branch of its marine interests it more than lost in others. With the peace of 1815 with England, eame also peace in Europe, and the Ameriean neutral ship was no longer the monopolist of the ocean. Thus when, in 1819, the coasting and fishery tonnage had increased to teu thousand three hundred and thirty-five tons from five thousand three hundred and ninety-eight tons in 1810, the registered tonnage, or the tonnage engaged in foreign trade, had fallen in the same time from twenty-nine thousand eight hundred and ninety-seven tons to fourteen thou- sand eight hundred and ninety-three. In the same time the population had fallen from seven thousand six hundred and thirty-four to about six thousand eight hundred, and the assessor's valuation from seven millions sixty-nine thousand dollars to three mil- lions forty-four thousand nine hundred dollars.

Nor was the peace of Europe the only cause of the decline in the shipping interests of the town. As has already been stated, the centralizing process had set in, and the scaboard towns were reluctantly yielding

1772

HISTORY OF ESSEX COUNTY, MASSACHUSETTS.

the trade they once enjoyed to Boston, the growing capital of New England. The effect, however, of this decline of commerce would have been less disastrous had the capital it had employed been at once diverted into other channels of industry. But while wharves and warehouses gradually fell into disuse and decay, while the trades of the cooper, the blacksmith, the sail-maker and the caulker and graver languished, and laborers were seeking employment where little was to be found, the capitalists still held their ownership in navigation, which, though hailing from Newburyport, never touched its wharves, and yielded dividends no part of which found its way into the pockets of the laborer or mechanic. Except so far as bare household expenses were concerned and the taxes paid, the capitalist might, with equal benefit to the town, have held his residence in Boston or New York.

And again, besides the centralizing process which was naturally going on, there was a cause of its has- tened movement to be found in the gradually increasing size of vessels and the difficulty, amounting at last to an impossibility, of their entrance into the harbor across the bar.

Up to 1810 only two vessels had been built on the Merrimac exceeding 350 tons. These were the ship "Caledonian," 357 tons, built at Amesbury in 1805 for Thomas Thomas and others, and the ship " Mary- land," 395 tons, built at Newbury in 1807 for Thomas Thomas and G. Brown. The first vessel of over 400 tons was the ship " Tally-llo," 420 tons, built in New- bury in 1823 for Russell Glover, of Boston; and the first of over 500 tons was the ship " Flavio," 698 tons, built in Newbury in 1839 for Eben Stone and others. While the average tonnage of registered vessels built during the ten years from 1800 to 1809, inclusive, was 124}, that during the ten years from 1830 to 1839, inclusive, was 274. Of course the ten following years, beginning with 1840, would show a much higher average even than that.

Ilow soon this process of centralization will cease it is of course difficult to foresee. That it will at some time cease is as sure as the fact that we are as yet a young nation, with its resources not yet fully developed, and that the changes of the next fifty years will be as sudden and startling as those of the Jast. The conditions of trade will be controlled by the same law which controls all tributary streams which, when they have filled the central reservoir, will flow back to the sources from whence they came. The grain and cattle trades with Europe, now in their infancy, but destined to be gigantic in their proportions, cannot long be conducted along the shore-fronts of populous cities and must seek the cheaper vacant lands of the outports for their suc- cessful pursuit. With the policy of our government growing more liberal from year to year to improve our rivers and harbors by the removal of bars and the deepening of tide-water basins, the ports of New

England, now comparatively deserted by navigation, must in time become the recipients of the overflow from the harbors of Boston and New York, and once more be the scenes of active commercial life. In our rapidly growing country, no harbor that can be deep- ened and made accessible by the use of money in the hands of scientific skill, can long remain idle.

In the summer of 1817, President Monroe visited Newburyport. A Committee of Reception was ap- pointed of which Ebenezer Mosely was chairman and the town of Newbury was invited to join in the cere- monies. The President was received at Ipswich by a deputation of Military Officers and at the lower green in Newbury a Company of Cavalry under Colonel Jeremiah Coleman, with the Sheriff of the County, the Committee of Arrangements and a large body of citizens took him in charge and escorted him into the town. After the ceremonies of reception he was conducted to the Wolfe Tavern, where a dinner was provided at which General Swift presided. After dinner the President proceeded on his journey into New Hampshire.

In 1820 the "Institution for Savings in New- buryport and its vicinity " was incorporated, and rapidly grew into favor with the people who in the increasing depression of business felt the necessity of Jessening their expenditures and laying up something to meet the uncertain days of the future. This insti- tution has been conducted with prudence, and com- mands the confidence of the people.

Its present officers are Edward S. Mosely, Presi- dent : Isaac IF. Boardman, and Eben F. Stone, Vice Presidents ; Philip V. Hill, Treasurer ; Lawrence W. Piper, Secretary ; and George W. Piper, Auditor. Its deposits are about $4,800,000.

In 1854 the Newburyport Five Cents Savings Bank was incorporated, and is also a prosperous institution. Its Treasurer is John A. Maynard, and its deposits are more than $1,000,000.

During this period also, the Merrimac Bank was incorporated June 25, 1795, its charter terminating July 1, 1805, and William Bartlett was its President. The Newburyport Bank was incorporated March 8, 1803, and Dudley A. Tyng was its President. The Newburyport Bank on the expiration of the charter of the Merrimae in 1805 was united with that Bank and continued business under its old name until the expiration of its charter in 1812, William Bartlett being President and its capital being $550,000. At the expiration of the charter in 1812 a new Act of Incorporation was obtained under the same name with a capital of $210.000, which expired in 1831. The successor of this Bank is the present Merchants National, which was incorporated as the Merchants' Bank March 18, 1831, and has a capital of $120,000. In 1864 it became the Merchants' National Bank.

Another Bank bearing the name of the Newbury- port Bank was incorporated in 1836, with a capital of $100,000 which was wound up in 1845.

NEWBURYPORT.

1773

The Mechanics' Bank was incorporated in 1813, and has a capital of $250.000. In 1864 it became the Mechanics' National Bank.

The Ocean Bank was incorporated March 20, 1833, and has a capital of $250,000. In 1865 it became the Ocean National Bank.

The First National Bank was organized in 1864, and has a capital of $300,000.

In 1826 a charter was obtained for the bridge known as the Newburyport Bridge, crossing the Merrimac from the foot of Summer Street to the Salisbury shore, and finished in 1827, at a cost of 870,000 and opened on the 1st of September in that year. The Essex Merrimac Bridge connecting what was Newbury with Salisbury being now within the limits of Newburyport may be properly referred to in this narrative. It was projected in 1791, and a subscription was at once started for its construction, of which the following is a copy taken from the original :

"No. I. NEWBURY PORT, May 30th, 1791.

" Whereas, a Bridge over Merrimack River, from the Land of the Hon- 'ble Jonathan Greenleaf, Esquire, io Newbery, to Deer Island, and fron the said Island to Salisbury, would be of very extensive utility, by afford- ing a safe Conveyanco to Carriages, Teams and Travellers at all seasons of the year, and at all Times of Tide.

" We, the subscribers, do ngree, that as soon as a convenient Number of Persons have subscribed to this, or a similar Writing, We will pre- sent a petition to the lon'ble General Court of the Commonwealth of Massachusetts, praying for an Act incorporating into a Body politic the subscribers to such Writing, with Liberty to build such Bridge, and a Right to demand a Toll equal to that received at Malden Bridge, and on like Terms, and if such an Act shall be obtained, then we severally agree each with the others, that we will hold in the said Bridge the several shares set against onr respective Names, the whole into two hundred shares being divided, and that we will pay such sums of Money at such Times and in sncb Mauners ns, by the said proposed Corporation, sball be directed and required.

Names. Place of abode. Shares.

" Edward Rand, Newburyport. 10 George Searle, Newburyport 10

Joseph Tyler, Newburyport 10

Richard Pike, Newburyport 4

Joshua Toppan, Newburyport. 3

Elizabeth Roberts, Newburyport 2

Andrew & B. Frothingham, Newburyport. 6

Moses lloyt, Newburyport.

Daniel Horton, Newburyport 1

William Teel, Newburyport.

Robert Long, Newburyport.

S. Emerson

E. Wheelwright

W. Coombs G

M. Brown 10

E. Titcomb. 1

E. Sawyer.

J. Burroughs. 1

Jere. Pearson 1

Jon. Marsb L

James Prince. 4

Sam Bailey

Joseph Cutter, Newburyport. 3

Wilham Ingalls, Newburyport.

Wm. H. Prout, Newburyport 2

Wmn. Wyer, Newburyport. 5

Wm. H. Pront, Jr , Newburyport .. 2

Nathl. Healey, Hampton Falls, 9 Hannah Dummer, Newburyport. 3

John Mycall, Newburyport 2

Nathl. Carter, Jr., Newburyport ..

Thomas Cary, Newburyport ..

Tristram Daltou. Newlyport 10

Timothy Dexter, Newburyport. 10

Tristram Coffin, Newburyport 2

Steph. Cross, Newburyport. 2

Dudley A. Tyng, Newbury. 15

Stephen Hooper for Miss Sarah Roberts, Newbury 10

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History of Essex County, Massachusetts : with biographical sketches of many of its pioneers and prominent men, Vol. II, Part 191

Author: Hurd, D. Hamilton (Duane Hamilton) ed Publication date: 1888 Publisher: Philadelphia, J. W. Lewis & Co. Number of Pages: 1672

Author: Hurd, D. Hamilton (Duane Hamilton) ed
Publication date: 1888
Publisher: Philadelphia, J. W. Lewis & Co.
Number of Pages: 1672