He never tired of doing this, and was petulantly impatient when houses enough were not added to his inventory. Little by little, scarcely known to the people, laws are altered ; the States and the Government, representing the interests of the vested class, surrender the peoples rights, often even the empty forms of those rights, and great railroad systems pass into the hands of a small cabal of multimillionaires. [16], He inherited vast real estate holdings in New York, sometimes known as the Goelet Realty Company, which included the Ritz-Carlton Hotel and the property between 52nd and 53rd Streets on Park Avenue which the Racquet and Tennis Club leased. Napoleon had the same experience with French contractors, and the testimony of all wars is to the same effect. When fraud was necessary they, like the bulk of their class, unhesitatingly used it. It is not merely business sections which the Rhinelander family owns, however ; they derive stupendous rentals from a vast number of tenement houses. We have seen how John Jacob Astor of the third generation very eagerly in 1867 invited Cornelius Vanderbilt to take over the management of the New York Central Railroad, after Vanderbilt had proved himself not less an able executive than an indefatigable and effective briber and corrupter. 7 Maryland Billionaires On Forbes List Of Richest Americans 2019 It is entirely needless to iterate the narrative of how the city officials corruptly gave over to these men land and water grants before that time municipally owned grants now having a present incalculable value.1. No term of reproach was more invested with cutting contempt and cruel hatred than that of a horse thief. They allowed themselves a glittering effusion of luxuries which were popularly considered extravagances but which were in nowise so, inasmuch as the cost of them did not represent a tithe of merely the interest on the principal. It was through this property that the Goelet family accumulated their vast real estate empire in Manhattan, second only to the Astors. He had a clear notion (for he was endowed with a highly analytical and penetrating mind) that in giving a few coins to the abased and the wretched he was merely returning in infinitesimal proportion what the prevailing system, of which he was so conspicuous an exemplar, took from the whole people for the benefit of a few ; and that this system was unceasingly turning out more and more wretches. Subsequently the firm became Field, Leiter & Co., and, finally in 1887, Marshall Field & Co.10 The firm conducted both a wholesale and retail business on what is called in commercial slang a cash basis: that is, it sold goods on immediate payment and not on credit.

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