produced a better article than was made by
others, and so materially reduced the price as to drive out foreign
competition from the American markets. Of course, he made money, and
when he saw that we paid Russia four dollars per pound for isinglass, he
studied up on the manufacture of the same, and added that article to his
business, and soon was enabled to sell it at less than ONE DOLLAR A
POUND. It is needless to say that he succeeded in completely
monopolizing the isinglass industry for a long time, and his profit on
that one article would have made him a very rich man.

Mr. Cooper was an observing man; he saw and realized that our country
was rich in mineral resources; especially was his attention drawn toward
the iron deposits in Pennsylvania and neighboring States. He felt that
there was big money in that business for the man who early entered the
field; he felt that there would be money in it for Peter Cooper. These
feelings made him an easy victim to two sharpers who one morning entered
his premises and succeeded in getting him to invest $150,000 in a large
tract of land, in Maryland, of some three thousand acres. He was told
that this land was on a 'boom,' as the Baltimore and Ohio Railway, it
was rumored, would soon be completed. The steep grades, however, and
sharp curves, made it impossible for engines then known to make the road
in safety. Indeed, it seemed that his land speculation was destined to
prove a 'White Elephant' on his hands, and, with nine out of ten men it
would have so proved, as they would have given up right here. Mr. Cooper
set about this problem resolved to solve it. He soon saw that the
success of the Baltimore and Ohio was the success of his speculation.
The only thing needed to bring this success was an engine that could
ascend the grades and turn the curves in safety.

He set to work patiently, and succeeded in inventing an engine that
would do what was required of it, he, himself acting as engineer on its
trial trip. This and other favorable influences which were brought about
through the success of the railroad, 'boomed' his land in dead earnest
this time. He next established an iron furnace on the site of his land
and burned the wood for charcoal. The land went on up, and when it
reached two hundred and thirty dollars per acre he sold out at an
immense profit. He still continued in the iron business, and as he was
always studying his business, he was the first man to roll out iron