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the Philadelphia store,
another was opened in New York in the old Stewart building, to which
another building, four times as large, has recently been added.
Wanamaker from the first firmly believed in P. T. Barnum's old adage
that "A satisfied customer is the best advertisement," and he made every
effort to see that none left the Wanamaker stores unsatisfied. He also
made it a rule that no visitor to his store should ever be urged to buy
anything; that every article of merchandise should be exactly as
represented, and that any purchase might be returned and the purchase
money would be refunded without question. As a result, Wanamaker got a
reputation for fair dealing which proved his greatest asset.
One would think that the management of such a business would fully
occupy any man, but Wanamaker found time for many public and benevolent
interests. He founded, in 1858, the Bethany Sunday School, which has
grown into perhaps the largest in the world and of which he has always
been superintendent; he has taken part in many movements for civic
reform, and from 1889 to 1893 was postmaster general of the United
States. He reorganized the service; set in motion the rural delivery
system, the greatest single improvement in its service the department
has ever made; and tried to secure a postal telegraph, a postal
savings-bank, a parcels post and one-cent letter postage. He was the
first official to regard the service as a business pure and simple, and
if the reforms he suggested had been carried out, the United States
postoffice would now be a model for the world.
* * * * *
The greatest banker and financier in America at the present day is
undoubtedly J. Pierpont Morgan, who, however, is known not so well for
the millions he has accumulated as for the other millions he has spent
in collecting rare objects of art, until he has become the possessor of
a collection surpassing any ever possessed by another private
individual. That much of this will one day be bequeathed by its owner to
the public there can be little doubt.
J. Pierpont Morgan is of a family of bankers. His father, Junius Spencer
Morgan, was for many years a partner in the great London banking house
of George Peabody & Co., and on the retirement of Mr. Peabody, succeeded
him as the head of the business. There was never any doubt of the son's
vocation. Born in 1837, and carefully educated, he entered the banking
house of Duncan, Sh
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