Mr. Edison gives a graphic
picture of the startling effect on his fortunes: "I made a great many
inventions; one was the special ticker used for many years outside of
New York in the large cities. This was made exceedingly simple, as
they did not have the experts we had in New York to handle anything
complicated. The same ticker was used on the London Stock Exchange.
After I had made a great number of inventions and obtained patents, the
General seemed anxious that the matter should be closed up. One day I
exhibited and worked a successful device whereby if a ticker should get
out of unison in a broker's office and commence to print wild figures,
it could be brought to unison from the central station, which saved the
labor of many men and much trouble to the broker. He called me into his
office, and said: 'Now, young man, I want to close up the matter of your
inventions. How much do you think you should receive?' I had made up
my mind that, taking into consideration the time and killing pace I
was working at, I should be entitled to $5000, but could get along with
$3000. When the psychological moment arrived, I hadn't the nerve to
name such a large sum, so I said: 'Well, General, suppose you make me an
offer.' Then he said: 'How would $40,000 strike you?' This caused me to
come as near fainting as I ever got. I was afraid he would hear my heart
beat. I managed to say that I thought it was fair. 'All right, I will
have a contract drawn; come around in three days and sign it, and I
will give you the money.' I arrived on time, but had been doing some
considerable thinking on the subject. The sum seemed to be very large
for the amount of work, for at that time I determined the value by the
time and trouble, and not by what the invention was worth to others. I
thought there was something unreal about it. However, the contract was
handed to me. I signed without reading it." Edison was then handed the
first check he had ever received, one for $40,000 drawn on the Bank of
New York, at the corner of William and Wall Streets. On going to the
bank and passing in the check at the wicket of the paying teller,
some brief remarks were made to him, which in his deafness he did not
understand. The check was handed back to him, and Edison, fancying for a
moment that in some way he had been cheated, went outside "to the
large steps to let the cold sweat evaporate." He then went back to the
General, who, with his secretary, had a good laugh