By John Steele Gordon
Within the nice online game, acclaimed company historian John Steele Gordon chronicles the increase of Wall highway from its humble beginnings as an American buying and selling submit to its domination of the area financial system, bringing to existence the striking solid of bankers and agents, visionaries and crooks who made it ensue. From Alexander Hamilton to Michael Milken, the historical past of Wall highway is a background of probability, braveness, avarice, patriotism, energy, genius, and, sometimes, notable stupidity. In Gordon, Wall highway has eventually came across a biographer important of its remarkable tale.
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Additional resources for The Great Game: The Emergence of Wall Street as a World Power: 1653-2000
Example text
He seems to have been promoted by the LC&N to resident engineer ahead of young John Leisenring, but when Sayre accepted the post of chief engineer with the Lehigh Valley Railroad in 1852, John became Edwin Douglas’s second in command at the age of thirty-three. At this point young John appears to have realized that by staying with the LC&N he would remain an employee, and that no matter how far he would advance, the company’s ownership was fixed in other hands.
Necessity, the often-praised mother of invention, devised new methods of producing salt from brine, drove Marco Polo and Columbus to seek new trade routes for spices, and fostered the development of bank notes and insurance. Yet for all their importance to the advancement of civilization, neither salt nor spices nor portable capital provoked human ingenuity sufficiently to inspire people to develop canals, railroads, bridges, and steam engines to carry them. Coal did. And the transportation revolution it spawned began along the Lehigh River, where the Lehigh Company established its headquarters community of Mauch Chunk.
The word “coal” derives from 16 • In the Kingdom of Coal the Anglo-Saxon col, which originally referred to charcoal. ) Coal was far more effective than charcoal as a smelting fuel but was rarely used in early smelting—not only because it was difficult to extract, but because of the smoke and foul odors it gave off during burning. Coal was also used sporadically for heat and funeral pyres in ancient China, Syria, and Greece (it is mentioned in the writings of Aristotle). Evidence also exists that during the Bronze Age, some thousand to two thousand years before the Common Era, people in southeastern Wales used coal for funeral pyres to burn their dead.