neer. After several years of successful business
he was obliged to suspend, during the depressed times of 1838.

After this he was married to the beautiful daughter of Commodore Morris,
of the United States Navy, much to the disgust of that gentleman, who
little dreamed what an illustrious son-in-law Mr. Corcoran was destined
to become. Some years of hard struggle followed, but at last it was
found that he had won for himself a somewhat extended reputation as a
financier, which gained for him a partnership with the successful
banker, Riggs. This firm began to deal in United States Government
securities, which were then at a low ebb abroad. Being a boy friend of
George Peabody, the great London banker, his firm was enabled to
materially aid the Government in its financial straits during the
Mexican war. As the firm prospered, Mr. Corcoran became wealthy, and
this money he laid out in Washington real estate, the rapid rise of
which made him a millionaire. As Mr. Corcoran prospered he began to
think of those old debts. When he had failed he secured favorable terms
with his creditors, and legally was not bound for one cent, but he
recognized a higher obligation than law made by man: hunting up all
those old customers, creditors of his, he paid them not only the
principal, but the interest that had been accumulating all these years.
By this one act we gain a glimpse of the inner heart and impulses of
this great and good man.

Thousands of dollars found their way into the hands of charity, but then
his desire to aid and gratify humanity was not satisfied.

On May 10th, 1869, the grounds and institution for the Corcoran Art
Gallery was deeded to trustees, and later was incorporated by Congress,
being exempted forever from taxation. The gallery is situated directly
opposite the State, War, and Navy buildings. It has a frontage of one
hundred and six feet; is built of fine, pressed brick; and is one of the
most attractive buildings in the whole City of Washington. The whole
building cost $250,000, and the donor placed therein his own private
collection of paintings and statuary, valued at $100,000. Not satisfied
with this he has added an endowment fund of $500,000. Many rare and
beautiful works of art have been purchased abroad, as well as American
works of rare value. Tuesdays, Thursdays, and Saturdays the gallery is
free; on alternate days an admission of twenty-five cents is charged.
When it is considered how many there are