The Philadelphia Directory, 1833, Part 50

Author:
Publication date: 1785
Publisher: Philadelphia
Number of Pages: 676

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At the of age twelve, or fourteen, he is supposed to have left Bor- deaux, in the capacity of a cabin boy, in a vessel bound to some port in the West Indies; where he is supposed to have remained, trading in that station, between the different islands, and to the United States, until he attained to the situation of Mate; in which capacity he first arrived in this country, at the port of New York. How long he re- mained in that city, we are not informed. His arrival at New York was probably about the year 1775.

From N. York he removed into New Jersey, and was for some time settled at Mount Holly, when the American Army was stationed in that vicinity. He here kept a small store, and manufactured segars; a trade that he had probably acquired in some of the West India Islands.

Mr. Girard settled in Philadelphia about the year 1779. In 1783, he inhabited a small frame tenement on the scite of that elegant brick mansion in which he died; to which were annexed a range of two storied wooden stores. At this period, his commerce was confined to old iron and old rigging. He then had no ship or vessel of any de- scription. He was a poor man-obscure, little known, and less no- ticed.

Mr. Girard, like all men of wealth, commenced the world with " small beginnings." At first a cabin boy; then mate of a small schooner; afterwards a shop keeper, selling segars and groceries; then keeper of a small tavern, or store in Water-street, Philadelphia, where he bottled claret, and continued his manufacture of segars- Stephen Girard successively rose to the rank of the first merchant, and the most opulent banker in the country ; stimulated by never tiring industry, and unremitting in his efforts to attain an indepen- dency. Though long poor, and unsuccessful in trade, his motto, "industry and frugality," at last triumphed. With Mr. Girard, business was a passion; and like all who devote themselves with enthusiasm to any pursuit, and who are gifted with genius for their profession, he finally succeeded in realizing a fortune, without exam- ple in the history of trade, when the forlorn and destitute condition of his early life is taken into consideration. By what degrees he in- creased his property, cannot yet be known ; and is not material to our proper estimation of his character. "By their fruits ye shall know them." Mr. Girard realized his millions from commerce-and his nights as well as days were devoted to the sorcery of the "Water Witch." At the time of his demise, his fortune is estimated to have

amounted to the sum of from twelve to fifteen millions of dollars.

Mr. Girard has left several relations, who reside in Bordeaux, and this city. His brother and sister are still living in the former place ; and he has two very accomplished nieces married in Philadelphia ; one to John Hemphill, Esq., and another to Dr. J. Y. Clark ; both gentlemen of opulence and respectability. A third niece also resides with Mrs. Clark, extremely amiable and very accomplished. He is also said to have left several nephews; whose education he was careful to promote.

No man has been more remarkable for his active personal philan- thropy, than Mr: Girard; especially amidst those horrid scenes of · devastating pestilence that depopulated and seourged our city, under the name of yellow fever. In 1793, more particularly, Mr. Girard was eminently distinguished for his active exertions, in ministering to the sick, and devising plans for the prevention and restriction of contagion. In this laudable, but perilous and appalling work, Mr. Girard had but few colleagues; and of those few, but one now sur- vives, in the person of Mathew Carey, Esq., alike distinguished for his usefulness, and who has paid a just tribute of applause to the ex- emplary labours of Mr. Girard, in that eventful crisis.

Perhaps the first business Mr. Girard engaged in, upon his coming to Philadelphia, was that of an aquatic pedlar, up and down the bor- ders of the Delaware, as far as Trenton-supplying the neighbour- ing farmers with groceries, and ready made clothing, for money, or produce. This trade he prosecuted in a small sail boat ; returning every fortnight or three weeks, for a fresh supply. The acquaint- ances he had contracted with the farmers whilst keeping store at Mount Holly, had no doubt suggested, as it afterwards facilitated, this exchange of products.

It was long before Mr. Girard grew rich ; for no inan accumu- lates immense wealth by sudden means. Industry is tardy and pro- gressive in her gains, and even speculation, when most favourable, is counterbalanced by adverse chances, that often substract from the harvest of good fortune. Mr. Girard was occupied in comnu ree, when it made fortunes for all its votaries-but when the " Water Witch" turned her smiles from trade, he wisely directed the greater portion of his immense capital into other and more secure, but less profitable channels : and thus continued to reap a moderate, but cer- tain harvest, at a time, when others were losing even their seed. grain.

Immediately prior to the expiration of the charter of the old bank of the United States in 1810 & 11, Mr. Girard, upon consulta- tion with Geo. Simpson, Esq. who calculated on the renewal of the charter, had instructed the Messrs. Barings, of London, to purchase for him a large amount of the stock of the Bank of the United States; which they accordingly did, to the nett value of one million eight hundred thousand dollars, under the expectation of the renewal of the charter, and a consequent realization of immense profits. Dis- appointed in this object, he determined to establish a private Bank, under the superintendance of the late George Simpson, the Cashier of that Institution; to whom he chiefly confided its transactions; con- tenting himself with the mere approval of its discounting transac- tions. This was in 1812, since which the capital of the Bank has augmented to Five Millions.

A more useful and liberal application of his surplus capital, to the wants of the mercantile community, at that peculiar crisis, and at the common rate of interest, could not well have been imagined. His bank, conducted on liberal principles, realized profit to himself and immense facilities to the public. The capital of the old Bank of the United States had then just been abstracted from circulation, and Mr. Girard's two millions went far to arrest bankruptcies, ease the money market, and restore public confidence and credit to their wonted elasticity.

Mr. Girard became a very heavy subscriber to the present BANK OF THE UNITED STATES; in the management of which, he was for many years active and efficient ; always on the side of sound prin- ciples, and firmly opposed to its measures during the era of the specu- lation in its stock. At the time of its institution, he had government deposits to the amount of ONE MILLION in his Bank, which was paid into the vaults of the new institution with great rapidity, and so effi- ciently in the form of specie, as to contribute essentially to the resto- ration of the currency to its ancient metallic soundness. In a very short time, he brought the Bank of the United States into his debt, and with few exceptions, ever after kept it so. Few of the monied institutions of the country, could have accomplished as much as this opulent banker, to aid the government in producing the resumption of specie payments.

Although apposed to the system of speculation in the stock of the Bank of the United States, Mr. Girard could not fail to profit by the public delirium that it had excited. By the stock he sold out at that

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period, he gained a clear half MILLION of dollars, when it command. ed 150 to 160 adrance ; still retaining a share in the stock greater than that of any other individual in the country.

The loan of FIVE MILLIONS was taken by Mr. Girard, of the go- vernment, in the darkest hour of the last war; and when trembling at the brink-or, rather floundering in the gulf of bankruptcy and dis- credit. The temptation of great profit was certainly powerful, to receive 100 seren per cent. stock for 70! But on the other hand, the risk of loss appeared great-public credit had expired, and the hopes of the stoutest hearts began to wither. It was an hour that " tried men's souls," and locked up the capital of the country in the vaults of fear and suspicion. Great as was the temptation of profit, few were found willing to put their capital in jeopardy, under the frowning aspect of the times; when the UNION was hanging by a single hair, and the country every day falling into the hands of the enemy.

'The habits of Mr. Girard were exclusively those of the man of bu- siness. He had no pleasures, but in the performance of active duties : always to be found busy in his compting room, or bustling on his farm, for he was also fond of Agriculture ; feeding his own cattle, curing his own beef, and even bestowing his attention on the culture of a vegetable garden, the produce of which he caused to be taken to market. His fruits and his flowers were also of the most choice kind. But in his hands, for his was the touch of Midas, every thing was turned into gold; and fruits, flowers, vegetables, ships, houses, lote, Bank, and all, contributed in the end, to pour millions in his lap. Like all men of immense wealth, it was his peculiar delight, to cast his eyes over the aggregate of his millions. But he took most plea. sure in adding house to house, lot to lot, until he could count his squares of buildings, und found it impossible to count the number of his deeds, parchments, und warrants. To the Schuylkill Navigation Company, he was an efficient friend, in the hour of need-as well as to the Chesapeake Canal Company, and other public works of vast importance, and lasting utility. In the arduous struggle of the Bank of the United States to resume specie payments, Mr. Girard, under the councils and influence of his Cashier, Mr. Simpson, was owen- tially instrumental in producing that result ; as well as interposing his voice to reclaim the Bank from the gulf of speculation, and place it on a proper basis ; for which he offered to the Bank of the L'inted States all his capital, sprcin, &c., if they would appoint George

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Simpson, Cashier, and conduct it on his legitimate principles.

Mr. Girard has no children to mourn his demise-but the whole community will feel his sudden departure, and our city long have cause to deplore his exit to the world of spirits !

In one sense, and in the best sense, Mr. Girard may be justly cal- led a PUBLIC BENEFACTOR; not less for the public improvements he projected and accomplished during his life time, which were unequal- ed by those of any other individual-than for the beneficent PUBLIC OBJECTS, for which he has bequeathed the chief part of his fortune. Even at the time of his death, his operations as a Merchant were very extensive ; and the commerce of Philadelphia will long deplore the abstraction of his capital from its business.

The great PUBLIC BENEFACTIONS made by the WILL of Stephen Girard, which we here annex, and which cannot fail to excite the in- terest and curiosity of every rational mind-proclaim him as one of the first PHILANTHROPISTS OF THE AGE; and however individual sel- fishness among his friends or his kinsmen, might regret the direc- tion his immense fortune has taken-but which we believe is not the case-yet an enlightened benevolence will rejoice, that his great wealth has been devised, with unparalleled patriotism and public spirit, for the BENEFIT OF THE COMMUNITY; and not the gratifica- tion of private passions, or individual avarice.

His liberal endowments for the purposes of EDUCATION, would alone shed lustre on his name, and insure him an immortality in the hearts of all future generations. To enlighten the mind of the peo- ple, is to improve their virtue and extend their usefulness, not less than their happiness, comfort, and freedom.

Mr. Girard's understanding in point of intellectual power, was cer- tainly one of the first order. He thought much, and thought pro- foundly-but as is often the case with the strongest minds, his train of reflection was frequently apt to describe an eccentric orbit. Yet in the ordinary affairs of business, he was, for that very reason, more correct, or if you please, more fortunate than the regular right an- gled speculators of the day. His principal trait of mind, was antici- pation. He had digested topics, when others were only beginning to think of them; and the common observer was often astonished to find, that what he thought he was communicating as news to Mr. Girard, was a matter quite familiar to him ; and that on the strength of it, he was already employed in loading a ship, or prosecuting a speculation.

Mr. Girard, in his person, was of stout frame, about five fort nix inches in height. His manners were plain; and in conversation ho was taciturn, except on business, and being generally engaged by his numerous avocations, he was impatient of all conversation, except what related to his pursuits on hand. In his mode of living he was plain, simple, and void of ostentation. The routine of high life, never had charms to withdraw him from his early habits of simplicity, even in the zenith of his fortune. His recreation was business-he knew no other pleasure, and labour was to him delight. He was particu- larly fond of working on his farm; and he out-worked all the la- bourers he employed. At the very close of life, he allowed himself no respite from business; never dreamed of retiring; but in the words of our great dramatic poet, adapted to his civil pursuits, he may be said to have " died with harness on his back."

THE WILL

0) THE LATE

STEPHEN GIRARD, ESQ.

I, STEPHEN GIRARD, of the City of Philadelphia, in the Commonwealth of Pennsylvania, Mariner and Merchant, being of sound mind, memory and undor- standing, do make and publish this my last Will and Testament, in manner following: that is to say-

I. I give and bequeath unto " The Contributors to the Pennsylvania Hospital," of which Corporation I am a member, the sum of Thirty Thousand Dollars. upon the following conditions, namely. that the said sum shall be added to their Capital, and shall remain a part thereof forever, to be placed at interest. and the interest thereof to be applied, in the first place, to pay to my black woman Hannah (to whom I hereby give her freedom.) the sum of two hundred dollars per year, in quarterly payments of fifty dollars cach in advance, during all the term of her life; and, in the second place, the said interest to be applied to the use and accommodation of the sick in the said Hos- pital, and for providing, and at all times having com- petent matrons, and a sufficient mumber of nur-es and assistant nurses, in order not only to promote the purposes of the said Hospital, but to increase this last class of useful persons much wanted m our city . ٨

II. I give and bequeath to "The Pennsylvania Institution for the Deaf and Dumb," the sum of Twenty Thousand Dollars, for the use of that Insti- tution.

III. I give and bequeath to " The Orphan Asylum of Philadelphia," the sum of Ten Thousand Dollars, for the use of that Institution.

IV. I give and bequeath to " The Comptrollers of the Public Schools for the City and County of Phila- delphia," the sum of Ten Thousand Dollars, for the use of the Schools upon the Lancaster system, in the first section of the first school district of Penn- sylvania.

V. I give and bequeath to "The Mayor, Alder- men and Citizens of Philadelphia," the sum of Ten Thousand Dollars, in trust safely to invest the same in some productive fund, and with the interest and dividends arising therefrom to purchase fuel between the months of March and August in every year forever, and in the month of January in every year forever, distribute the same amongst poor white house-keepers and room-keepers, of good character, residing in the city of Philadelphia.

VI. I give and bequeath to the Society for the Relief of poor and distressed Masters of Ships, their Widows and Children, (of which Society I am a member) the sum of Ten Thousand Dollars, to be added to their Capital stock, for the uses and pur- poses of said Society.

VII. I give and bequeath to the gentlemen who shall be Trustees of the Masonic Loan, at the time of my decease, the sum of Twenty Thousand Dollars, including therein ten thousand and nine hundred dollars due to me, part of the Masonic Loan, and

any interest that may be due thereon at the time of my decease, in trust for the use and benefit of " The Grand Lodge of Pennsylvania, and Masonic Juris- diction thereto belonging," and to be paid over by the said Trustees to the said Grand Lodge, for the purpose of being invested in some safe stock or funds, or other good security, and the dividends and in- terest arising therefrom to be again so invested and added to the Capital, without applying any part thereof to any other purpose, until the whole capital shall amount to thirty thousand dollars, when the same shall forever after remain a permanent fund or Capital, of the said amount of thirty thousand dollars, the interest whereof shall be applied from time to time to the relief of poor and respectable brethren; and in order that the real and benevolent purposes of masonic institutions may be attained, I recom- mend to the several lodges not to admit to member- ship, or to receive members from other lodges unless the applicants shall absolutely be men of sound and good morals.

VIII. I give and bequeath unto Philip Peltz, John Lentz, Francis Hesley, Jacob Baker and Adam Young, of Passyunk township, in the County of Phi- ladelphia, the sum of Six Thousand Dollars, in trust, that they or the survivors or survivor of them shall purchase a suitable piece of ground, a's near as may be in the centre of said township, and thereon erect a substantial brick building, sufficiently large for a school-house, and the residence of a school-master, one part thereof for poor male white children, and the other part for poor female white children of said township; and as soon as the said school-house shall have been built, that they the said trustees or the

survivors or survivor of them, shall convey the said piece of ground and house thereon erected, and shall pay over such balance of said sum as may remain unexpended to any board of directors and their successors in trust, which may at the time exist or be by law constituted, consisting of at least twelve discreet inhabitants of the said township, and to be annually chosen by the inhabitants thereof; the said piece of ground and house to be carefully maintained by said directors and their successors solely for the purposes of a school as aforesaid forever, and the said balance to be securely invested as a permanent fund, the interest thereof to be applied from time to time towards the education in the said school of any number of such poor white children of said township; and I do hereby recommend to the citizens of said township to make additions to the fund whereof I have laid the foundation.

· IX. I give and devise my house and lot of ground thereto belonging, situate in rue Ramouet aux Char- trons, near the city of Bordeaux, in France, and the rents, issues, and profits thereof, to my brother, Eti- enne Girard, and my niece Victoire Fenellon, (daugh- ter of my late sister Sophia Girard Capayron,) (both residing in France,) in equal moieties for the life of my said brother, and, on his decease, one moiety of the said house and lot to my said niece Victoire, and her heirs forever, and the other moiety to the six children of my said brother, namely, John Fabricius, Marguerite, Ann Henriette, Jean August, Marie, and Madelaine Henriette, share and share alike, (the issue of any deceased child, if more than one, to take amongst them the parent's share) and their heirs forever.

X. I give and bequeath to my said brother, Etienne Girard, the sum of Five Thousand Dollars, and the like sum of Five Thousand Dollars to each of his sis children above named: if any of the said children shall die prior to the receipt of his or her legacy of five thousand dollars, the said sum shall be paid, and I give and bequeath the same to any issue of such deceased child, if more than one, share and share alike.

XI. I give and bequeath to my said niece, Victoire F'enellon, the sum of Five Thousand Dollars.

XII. I give and bequeath absolutely to my niece, Antoinetta, now married to Mr. Hemphill, the sum of T'en Thousand Dollars, and I also give and be- queath to her the sum of Fifty Thousand Dollars, to be paid over to a trustee or trustees to be appointed by my executors, which trustee or trustees shall place and continue the said sum of fifty thousand dollars upon good security, and pay the interest and divi- dends thereof as they shall from time to time accrue, to my said niece for her separate use, during the term of her life, and from and immediately after her decease, to pay and distribute the capital to and among such of her children and the issue of deceased children, and in such parts and shares as she the said Antoinetta, by any instrument under her hand and scal, executed in the presence of at least two credi- ble witnesses, shall direct and appoint, and for de- fault of such appointment, then to and among the said children and issue of deceased children in equal shares, such issue of deceased children, if more than one, to take ouly the share which their deceased pa- rent would have taken if living.

XIII. I give and bequeath unto my niece. Carolina.

now married to Mr. Haslam, the sum of Ten Thou- sand Dollars, to be paid over to a trustee or trustees to be appointed by my executors, which trustee or trustees shall place and continue the said money upon good security, and pay the interest and dividends thereof from time to time as they shall accrue, to my said niece, for her separate use, during the term of her life; and from and immediately after her decease, to pay and distribute the capital to and among such of her children and issue of deceased children, and in such parts and shares, as she the said Carolina, by any instrument under her hand and seal, executed in the presence of at least two credi- ble witnesses, shall direct and appoint, and for de- fault of such appointment, then to and among the said children, and issue of deceased children, in equal shares, such issue of deceased children, if more than one, to take only the share which the deceased parent would have taken if living; but if my said niece, Ca- rolina, shall leave no issue, then the said trustee or trustees on her decease, shall pay the said capital and any interest accrued thereon, to and among Ca- roline Lallemand, (niece of the said Carolina,) and the children of the aforesaid Antoinetta Hemphill, share and share alike.

XIV. I give and bequeath to my niece Henrietta, now married to Dr. Clark, the sum of Ten Thousand Dollars; and I give and bequeath to her daughter Caroline, (in the last clause above named,) the sum of Twenty Thousand Dollars-the interest of the said sum of twenty thousand dollars, or so much thereof as may be necessary, to be applied to the mainte- nance and education of the said Caroline during her minority, and the principal with any accumulated in-

terest, to be paid to the said Caroline, on her arrival at the age of twenty-one years.

XV. Unto each of the Captains who shall be in my employment at the time of my decease, either in port, or at sea, having charge of one of my ships or ves- sels, and having performed at least two voyages in iny service, I give and bequeath the sum of Fifteen Hundred Dollars-provided he shall have brought safely into the port of Philadelphia, or if at sea at the time of my decease, shall bring safely into that port, my ship or vessel last entrusted to him, and also that his conduct during the last voyage shall have been in every respect conformable to my instructions to hin.

XVI. All persons, who, at the time of my decease, shall be bound to me by indenture, as apprentices or servants, and who shall then be under age, I direct my executors to assign to suitable masters immedi- ately after my decease, for the remainder of their re- spective terms, on conditions as favourable as they can in regard to education, clothing and freedom dues; to each of the said persons in my service and under age at the time of my decease, I give and be- queath the sum of Five Hundred Dollars, which sums respectively I direct my executors safely to invest in public stock, to apply the interest and dividends thereof, towards the education of the several ap- prentices or servants, for whom the capital is given respectively, and at the termination of the appren- ticeship or service of each, to pay to him or her the said sum of five hundred dollars and any interest ac- crued thereon, if any such interest shall remain un- expended; in assigning any indenture, preference shall be given to the mother, father, or next relation,

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The Philadelphia Directory, 1833, Part 50

Author: Publication date: 1785 Publisher: Philadelphia Number of Pages: 676

Author:
Publication date: 1785
Publisher: Philadelphia
Number of Pages: 676