Barnum was staying at the Astor House, in New York, when, on the morning of December 18, 1857, he received a telegram from his brother, Philo F. Barnum, dated at Bridgeport, and informing him that Iranistan was burned to the ground that morning. The alarm was given at eleven o'clock on the night of the 17th, and the fire burned till one o'clock on the morning of the 18th.
This was, of course, a considerable loss to Barnum's estate, for the house had cost about $150,000. It was also generally regarded as a public calamity. This house had been the only building in its peculiar style of architecture of any pretension in America, and many persons had visited Bridgeport every year expressly to see it. The insurance on the mansion had usually been about $62,000, but Barnum had let some of the policies expire without renewing them, so that at the time of the fire there was only $28,000 insurance on the property. Most of the furniture and pictures were saved, generally in a damaged state.
Subsequently, the assignees sold the grounds and outhouses of Iranistan to Elias Howe, Jr., the inventor of the sewing-machine. The property brought $50,000, which, with the $28,000 insurance went into Barnum's assets to satisfy clock creditors. It was Mr. Howe's intention to erect a splendid mansion on the estate, but his untimely and lamented death prevented the fulfilment of the plan.
CHAPTER XXIX. THE ART OF MONEY GETTING.
THE LECTURE FIELD—SUCCESS—CAMBRIDGE—OXFORD—AN UNIQUE ENTERTAINMENT—BARNUM EQUAL TO THE OCCASION—INVITED TO STAY A WEEK.
Seeing the necessity of making more money to assist in extricating his affairs from financial disorder, Barnum went back to England, taking with him Tom Thumb, whom he exhibited in all the principal places of England, Scotland and Wales; this was early in 1858.
The tour was a profitable one, and the money, as fast as it came in, was remitted to his agents and assignees in America.
At the suggestion of some of his American friends In London, Barnum next appeared on the lecture platform. The subject chosen was "The Art of Money Getting," although Barnum told his friends that in the light of recent events he felt more competent to speak on the art of money losing. But they assured him that his name having been associated with the Jenny Lind concerts and other great money-making enterprises, the lecture would undoubtedly prove both attractive and profitable.
The lecture was widely advertised, of course, and at the appointed time the great St. James' Hall, Regent Street, Piccadilly, was completely filled. It was the evening of December 29, 1858. We subjoin extracts from the lecture, which was closely listened to and well received by many more audiences than the one which heard it first at St. James' Hall.
Those who really desire to attain an independence, have only to set their minds upon it, and adopt the proper means, as they do in regard to any other object which they wish to accomplish, and the thing is easily done. But however easy it may be found to make money, I have no doubt many of my hearers will agree it is the most difficult thing in the world to keep it. The road to wealth is, as Dr. Franklin truly says, "as plain as the road to mill." It consists simply in expending less than we earn; that seems to be a very simple problem. Mr. Micawber, one of those happy creations of the genial Dickens, puts the case in a strong light when he says that to have an income of twenty pounds per annum, and spend twenty pounds and sixpence, is to be the most miserable of men; whereas, to have an income of only twenty pounds, and spend but nineteen pounds and sixpence, is to be the happiest of mortals. Many of my hearers may say, "we understand this; this is economy, and we know economy is wealth; we know we can't eat our cake and keep it also." Yet I beg to say that perhaps more cases of failure arise from mistakes on this point than almost any other. The fact is, many people think they understand economy when they really do not.