Once, during the war, the control of the coin in the bank procured him a signal advantage. In the spring of 1813, his fine ship, the Montesquieu, crammed with tea and fabrics from China, was captured by a British shallop when she was almost within Delaware Bay. News of the disaster reaching Girard, he sent orders to his supercargo to treat for a ransom. The British admiral gave up the vessel for one hundred and eighty thousand dollars in coin; and, despite this costly ransom, the cargo yielded a larger profit than that of any ship of Girard's during the whole of his mercantile career. Tea was then selling at war prices. Much of it brought, at auction, two dollars and fourteen cents a pound, more than four times its cost in China. He appears to have gained about half a million of dollars.
From the close of the war to the end of his life, a period of sixteen years, Girard pursued the even tenor of his way, as keen and steady in the pursuit of wealth, and as careful in preserving it, as though his fortune were still insecure. Why was this? We should answer the question thus: Because his defective education left him no other resource. We frequently hear the "success" of such men as Astor and Girard adduced as evidence of the uselessness of early education. On the contrary, it is precisely such men who prove its necessity; since, when they have conquered fortune, they know not how to avail themselves of its advantages. When Franklin had, at the age of forty-two, won a moderate competence, he could turn from business to science, and from science to the public service, using money as a means to the noblest ends. Strong-minded but unlettered men, like Girard, who cannot be idle, must needs plod on to the end, adding superfluous millions to their estates. In Girard's case, too, there was another cause of this entire devotion to business. His domestic sorrows had estranged him from mankind, and driven him into himself. Mr. Henry W. Arey, the very able and high-minded Secretary of Girard College, in whose custody are Girard's papers, is convinced that it was not the love of money which kept him at work early and late to the last days of his life.
"No one," he remarks,
"who has had access to his private papers, can fail to become impressed with the belief that these early disappointments furnish the true key to his entire character. Originally of warm and generous impulses, the belief in childhood that he had not been given his share of the love and kindness which were extended to others changed the natural current of his feelings, and, acting on a warm and passionate temperament, alienated him from his home, his parents, and his friends. And when in after time there were super-added the years of bitter anguish resulting from his unfortunate and ill-adapted marriage, rendered even more poignant by the necessity of concealment, and the consequent injustice of public sentiment, and marring all his cherished expectations, it may be readily understood why constant occupation became a necessity, and labor a pleasure."
Girard himself confirms this opinion. In one of his letters of 1820, to a friend in New Orleans, he says:—
"I observe with pleasure that you have a numerous family, that you are happy and in the possession of an honest fortune. This is all that a wise man has the right to wish for. As to myself, I live like a galley-slave, constantly occupied, and often passing the night without sleeping. I am wrapped up in a labyrinth of affairs, and worn out with care. I do not value fortune. The love of labor is my highest ambition. You perceive that your situation is a thousand times preferable to mine."
In his lifetime, as we have remarked, few men loved Girard, still fewer understood him. He was considered mean, hard, avaricious. If a rich man goes into a store to buy a yard of cloth, no one expects that he will give five dollars for it when the price is four. But there is a universal impression that it is "handsome" in him to give higher wages than other people to those who serve him, to bestow gratuities upon them, and, especially, to give away endless sums in charity. The truth is, however, that one of the duties which a rich man owes to society is to be careful not to disturb the law of supply and demand by giving more money for anything than a fair price, and not to encourage improvidence and servility by inconsiderate and profuse gifts. Girard rescued his poor relations in France from want, and educated nieces and nephews in his own house; but his gifts to them were not proportioned to his own wealth, but to their circumstances. His design evidently was to help them as much as would do them good, but not so much as to injure them as self-sustaining members of society. And surely it was well for every clerk in his bank to know that all he had to expect from the rich Girard was only what he would have received if he had served another bank. The money which in loose hands might have relaxed the arm of industry and the spirit of independence, which might have pampered and debased a retinue of menials, and drawn around the dispenser a crowd of cringing beggars and expectants, was invested in solid houses, which Girard's books show yielded him a profit of three per cent, but which furnished to many families comfortable abodes at moderate rents. To the most passionate entreaties of failing merchants for a loan to help them over a crisis, he was inflexibly deaf. They thought it meanness. But we can safely infer from Girard's letters and conversation that he thought it an injury to the community to avert from a man of business the consequences of extravagance and folly, which, in his view, were the sole causes of failure. If there was anything that Girard utterly despised and detested, it was that vicious mode of doing business which, together with extravagant living, causes seven business men in ten to fail every ten years. We are enabled to state, however, on the best authority, that he was substantially just to those whom he employed, and considerately kind to his own kindred. At least he meant to be kind; he did for them what he really thought was for their good. To little children, and to them only, he was gracious and affectionate in manner. He was never so happy as when he had a child to caress and play with.
After the peace of 1815, Girard began to consider what he should do with his millions after his death. He was then sixty-five, but he expected and meant to live to a good age. "The Russians," he would say, when he was mixing his olla podrida of a Russian salad, "understand best how to eat and drink; and I am going to see how long, by following their customs, I can live." He kept an excellent table; but he became abstemious as he grew older, and lived chiefly on his salad and his good claret. En-joying perfect health, it was not until about the year 1828, when he was seventy-eight years of age, that he entered upon the serious consideration of a plan for the final disposal of his immense estate. Upon one point his mind had been long made up. "No man," said he, "shall be a gentleman on my money." He often, said that, even if he had had a son, he should have been brought up to labor, and should not, by a great legacy, be exempted from the necessity of labor. "If I should leave him twenty thousand dollars," he said, "he would be lazy or turn gambler." Very likely. The son of a man like Girard, who was virtuous without being able to make virtue engaging, whose mind was strong but rigid and ill-furnished, commanding but uninstructive, is likely to have a barren mind and rampant desires, the twin causes of debauchery. His decided inclination was to leave the bulk of his property for the endowment of an institution of some kind for the benefit of Philadelphia. The only question was, what kind of institution it should be.
William J. Duane[1] was his legal adviser then,—that honest and intrepid William J. Duane who, a few years later, stood calmly his ground on the question of the removal of the deposits against the infuriate Jackson, the Kitchen Cabinet, and the Democratic party. Girard felt all the worth of this able and honorable lawyer. With him alone he conversed upon the projected institution; and Mr. Duane, without revealing his purpose, made inquiries among his travelled friends respecting the endowed establishments of foreign countries. For several months before sitting clown to prepare the will, they never met without conversing upon this topic, which was also the chief subject of discourse between them on Sunday afternoons, when Mr. Duane invariably dined at Mr. Girard's country-house. A home for the education of orphans was at length decided upon, and then the will was drawn. For three weeks the lawyer and his client were closeted, toiling at the multifarious details of that curious document.
The minor bequests were speedily arranged, though they were numerous and well considered. He left to the Pennsylvania Hospital, thirty thousand dollars; to the Deaf and Dumb Asylum, twenty thousand; to the Orphan Asylum, ten thousand; to the Lancaster public schools, the same sum; the same for providing fuel for the poor in Philadelphia; the same to the Society for the Relief of Distressed Sea-Captains and their families; to the Freemasons of Pennsylvania, for the relief of poor members twenty thousand; six thousand for the establishment of a free school in Passyunk, near Philadelphia; to his surviving brother, and to his eleven nieces, he left sums varying from five thousand dollars to twenty thousand; but to one of his nieces, who had a very large family, he left sixty thousand dollars. To each of the captains who had made two voyages in his service, and who should bring his ship safely into port, he gave fifteen hundred dollars; and to each of his apprentices, five hundred. To his old servants, he left annuities of three hundred and five hundred dollars each. A portion of his valuable estates in Louisiana he bequeathed to the corporation of New Orleans, for the improvement of that city. Half a million he left for certain improvements in the city of Philadelphia; and to Pennsylvania, three hundred thousand dollars for her canals. The whole of the residue of his property, worth then about six millions of dollars, he devoted to the construction and endowment of a College for Orphans.