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Show The Boyhood of Famous r ! Americans George F. Baker Uncle John could sit ou his porch and take it easy while the other farm- ers were bard at r- I -1 VTllriMifrtlB&hi 1 1 work. He lived well and enjoyed hiuv self. His nephew wondered how a man could have all the necessities of life, and some of the luxuries, without with-out having to work. Being of nn inquiring inquir-ing mind he asked for the answer to such a puzzle. Ho was told that his uncle had an In come from Ins savings and was able io live on the Interest of his money. That was how George F. Baker got his first lesson In thrift and in the value of saving and investing. He was visiting his grandparents In Dedhnm, Mass., where he spent much of his vacations as a boy, when he learned the lesson that was to help make him one of the world's lending bankers and enable him to amass a tremendous tremen-dous fortune. George K. Baker was born in Troy, N. Y., in 1SW. His father was a merchant, mer-chant, who at one time had a shoe business In New York city. The older Baker didn't enjoy buying aud selling. He became a reporter under Horace Greeley on the New York Tribune. He specialized. In politics. He became a Washington correspondent for his paper, pa-per, later holding numerous political positions. His son was eight years old when the family moved to Brooklyn. Young George went to school in Williamsburg, Williams-burg, but spent much time with his grandparents in Massachusetts. The country air agreed with him. He thrived on it and became a sturdy and robust youngster. It was at Dedham that he laid the foundation for the strong constitution that has enabled him to be active for so many years. There also, through the example of his uncle, he learned the lesson in finance that helped him In laying the foundation for his great fortune. He earned his first money, during a vacation at Dedham, by gathering gath-ering cranberries left under the bushes by the pickers. He carried the berries to the barn in pails, dumped them in a sleigh, that was stored until the coming of the New England winter, and when it was full and all the berries salvaged, he sold the batch for ?7. That was good money for a boy in those days before the Civil war. Young Baker didn't waste it on candy or entertainment. With the example of his uncle in mind he saved U. The youthful financier finished his education at Seward university at Florida, N. Y., when he was sixteen years old. His first job was In a small Albany bank. Ills father, whose Interest In-terest In politics had gained him an election to the state legislature, was secretary to Gov. Myron H. Clark at the tlffi. The youngster worked hard learning the rudiments of the banking business, but he had time to enjoy himself after the fashion of the youth of the period. fie drove his own horse and buggy. He got his exercise by rowing on the upper Hudson. Seulling was a great sport onthe river at Albany and Troy in those days. There were good boat clubs and good oarsmen. Y'oung Baker was one of the best. He was skilled enough to win a sculling championship of the upper- Hudson. He was also active in church and lecture work. He was badly injured in a railroad accident in 1S59. For a time it was thought one of his legs would have to be amputated. He recovered and served as secretary and assistant military mili-tary secretary to Gov. Edwin D. Morgan, Mor-gan, who was chief executive of the state at the outbreak of the Civil war. Before this he had worked as a clerk in the state banking department. His pay there was only S300 a year, but he managed to save $100 of his first year's salary. His father was in Washington at secretary to William H. Seward and young Baker returned to the banking department when Governor Gov-ernor Morgan retired from office. He was known as the best informed clerk there. His knowledge soon gave him an opportunity to enter the banking bank-ing business for himself. He became interested In the plan of Secretary of the Treasury Chase to sell bonds through banks and to form banks which could pledge bonds themselves for the circulation of currency up to 30 per cent of their value. He talked the proposition over with John Thompson, a New York financier, and in 1SG3 they launched the First National bank will) a capital of $'2(H.i,. 000. Thompson offered the young banker all the stock be wanted and promised to carry it for hiiq. But George Baker, at the time, didn't believe be-lieve in borrowing money, yme misguided mis-guided friend, apparently, iiad warned him against being a borrower. So he used only bis own savings to buy stock. His nest egg permitted him to buy thirty shares. lie also became be-came a teller nnd before long the cashier of the bank. He prospered nnd later borrowed the money with which to get control of the Institution which be was destined to make one of the strongest financial concerns in the world. (. by Tin North American Xew;aper Alliance.) |