Chapter III Alexander T. Stewart
Birth and early life—Becomes his grandfather’s ward—Designed for the ministry—A change in his plans—Comes to America—Teaches school in New York—Becomes a dry goods merchant—Receives a legacy—His first importation—How he began business—An energetic trader—His sample lots and their history—Success of his enterprise—He begins by encouraging honesty in trade—Wins a name for reliability—The system of selling at one price—Inaugurates the “selling off at cost” feature—His courage in business—How he raised the money to meet his note—Improvement in his business—He enlarges his store—As an inducement to the ladies, employs for clerks handsome young men—The crisis of 1837—Stewart comes out of it a rich man—How he did so—Builds his lower store—Predictions of failure—The result—Compels the Government to purchase goods from him—His foresight and liberality—Charged with superstition—Lucky and unlucky persons—Story of the old apple woman—Remarks at the opening of the St. Nicholas Hotel—Reasons of Stewart’s success—A hard worker—How he receives visitors—Running the gauntlet—How he gets rid of troublesome persons—Estimate of Mr. Stewart’s real estate in New York—His new residence—His benevolence—Aid for Ireland, and free passages to America—Home for women—Political sentiments—Mr. Stewart’s appointment as Secretary of the Treasury—Feeling of the country—The retail store of A.T. Stewart & Co.—A palace of glass and iron—Internal arrangements—The managers and salesmen—List of sales—Wages given—Visitors—The principal salesroom—The parcel department—The wagons and stables—Extravagant purchases—Mr. Stewart’s supervision of the upper store—The system of buying—The foreign agencies—Statement of the duties paid each day—Personal appearance of Mr. Stewart.