Capital City

Author: Casner
Publisher:
Publish Date: 2004-07-01
Features: 1860 to 1900 was the golden age in New York's history. In less than 40 years, New York and the United States created unprecedented commercial prosperity and immense wealth in human history. In less than 40 years, New York mobilized financial capital, entrepreneurial spirit, and management resources to establish a strong new foundation for American business and set the direction for the future of capitalism. The golden age of New York fostered America's most bold and ambitious businesspeople: John Jacob Astor, Jay Gould, Cornelius Vanderbilt, Moses Taylor, and A.T. Stewart, Andrew Carnegie, John D. Rockefeller, and J.P. Morgan. Their adventurous endeavors and grasp of mainstream opportunities were so closely intertwined with the broader forces of economic growth and expansion gathering in New York that their personal struggles became the most exhilarating symbols of this golden age. It was an era of entrepreneurs, and none of their successors would ever again enjoy the economic power, open political climate, and shaping influence that these capitalists possessed. They pursued their dreams freely, and no one could stop these ambitious aspirations. They built a brand-new capital of American capitalism, setting the future for the United States and opening new paths for capitalism. They were the most celebrated figures of their time, and their stories had an influence far beyond people's imagination. Their experiences were deeply etched into the spirit of New York. This was also the golden age of American capitalism. In 1900, Henry Adams returned to New York after a long absence. When the bay came into view, he was deeply moved by the sight: "More astonishing than ever—too wonderful—such a spectacle as mankind has never seen. It seems as if the power of man has broken free from all constraints and reached freedom. The entire city was filled with extreme excitement. This was prosperity never imagined before, power never before possessed by humankind, a speed only meteors could achieve."