### Jay Gould Biography
#### 1. Early Life
Jay Gould was born on May 27, 1836, in Roxbury, New York. He was the son of John Burr Gould, a farmer and merchant, and Mary More. From a young age, Gould demonstrated a sharp intellect and a penchant for mathematics. Despite the modest means of his family, he received a decent education at local schools and later attended Hobart Academy in Hobart, New York. Gould’s early exposure to the workings of commerce came from his father’s store, but he was primarily self-taught in the fields of surveying and mathematics, which he mastered by the age of 16.
#### 2. Career
Gould's career began in the late 1850s when he worked as a surveyor and created several maps of the Ulster County, New York area. However, his ambitions quickly moved beyond surveying. By 1859, he had entered the business world, starting with a venture in tanning but rapidly shifting his focus to the railroad industry, which was burgeoning at the time.
By the early 1860s, Gould began speculating in railroad stocks. He acquired and attempted to control several railroads, including the Rutland and Washington Railroad through the use of ingenious and often unscrupulous methods, which marked the beginning of his notorious reputation. His most significant dealings began in 1867 when he became the manager of the Erie Railroad, engaging in a fierce battle for control with
Daniel-Drew and
Cornelius-Vanderbilt. This period was marked by legal battles, stock manipulations, and outright bribery.
In 1873, Gould took control of the Union Pacific Railroad, where he was involved in the infamous Credit Mobilier scandal. Despite these controversies, Gould expanded his interests into telegraphy by acquiring
Western-Union in 1881, enhancing its efficiency and reach.
#### 3. Notable Achievements
Jay Gould’s most notable achievements lie in his transformative impact on the U.S. railroad and telegraph industries. His strategies, although often criticized, were innovative in finance and business. He was a pioneer in developing the infrastructure for the American West through his involvement with the Union Pacific Railroad. Under his ownership, Western Union grew into a dominant company in the telegraph industry.
Gould was also known for his ability to manipulate stock markets to his advantage, a skill that made him both feared and admired in the financial world. His actions and strategies during the Erie War, where he resisted the takeover attempts by
Cornelius-Vanderbilt, are particularly noteworthy for their boldness and strategic cunning.
#### 4. Personal Life
Gould married Helen Day Miller in 1863, and they had six children. Despite his ruthless reputation in business, Gould was known to be a devoted family man. He purchased Lyndhurst, a Gothic Revival mansion in Tarrytown, New York, where he spent considerable time with his family.
Gould's health began to deteriorate in the early 1890s, and he died of tuberculosis on December 2, 1892. At his death, his estate was estimated to be worth approximately $72 million, a testament to his financial acumen and the vast empire he built, which left a lasting imprint on American industry.
Throughout his career, Gould was both vilified and respected, a complex figure whose impact on the American economy was undeniable. His life’s story intertwines with those of other powerful figures of his time, including
James-Fisk, with whom he collaborated during the Erie Railroad battles. Despite the controversies, Gould’s legacy as a railroad and telegraphic magnate remains a significant chapter in the history of American commerce and industry.