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In 1869, Jay Cooke, the brilliant but idiosyncratic American banker, decided to finance the Northern Pacific, a transcontinental railroad planned from Duluth, Minnesota, to Seattle. M. John Lubetkin tells how Cooke’s gamble reignited war with the Sioux, rescued George Armstrong Custer from obscurity, created Yellowstone Park, pushed frontier settlement four hundred miles westward, and triggered the Panic of 1873. Staking his reputation and wealth on the Northern Pacific, Cooke was soon whipsawed by the railroad’s mismanagement, questionable contracts, and construction problems. Financier J. P. Morgan undermined him, and the Crédit Mobilier scandal ended congressional support. When railroad surveyors and army escorts ignored Sioux chief Sitting Bull’s warning not to enter the Yellowstone Valley, Indian attacks—combined with alcoholic commanders—led to embarrassing setbacks on the field, in the nation’s press, and among investors. Lubetkin’s suspenseful narrative describes events played out from Wall Street to the Yellowstone and vividly portrays the soldiers, engineers, businessmen, politicians, and Native Americans who tried to build or block the Northern Pacific.
In 1869, Jay Cooke, the brilliant but idiosyncratic American banker, decided to finance the Northern Pacific, a transcontinental railroad planned from Duluth, Minnesota, to Seattle. M. John Lubetkin tells how Cooke’s gamble reignited war with the Sioux, rescued George Armstrong Custer from obscurity, created Yellowstone Park, pushed frontier settlement four hundred miles westward, and triggered the Panic of 1873. Staking his reputation and wealth on the Northern Pacific, Cooke was soon whipsawed by the railroad’s mismanagement, questionable contracts, and construction problems. Financier J. P. Morgan undermined him, and the Crédit Mobilier scandal ended congressional support. When railroad surveyors and army escorts ignored Sioux chief Sitting Bull’s warning not to enter the Yellowstone Valley, Indian attacks—combined with alcoholic commanders—led to embarrassing setbacks on the field, in the nation’s press, and among investors. Lubetkin’s suspenseful narrative describes events played out from Wall Street to the Yellowstone and vividly portrays the soldiers, engineers, businessmen, politicians, and Native Americans who tried to build or block the Northern Pacific.
With claims staked, 1870s prospectors at Cooke City patiently waited for adequate transportation to get their ore to market. Eager enough, they named the town in honor of Northern Pacific tycoon Jay Cooke. Ironically, Cooke's influence in creating Yellowstone National Park stunted the growth of the town, as the park blocked any efforts to support a railroad through its borders. For more than sixty years, residents waited for rail until a new economy took hold--tourism. The dreams of the miners still live on in tumble-down shacks and rusty old mining equipment. And the successful vision of entrepreneurs offering rustic relaxation at the doorstep of Yellowstone continues to lure visitors. Historian Kelly Hartman recounts the saga that left hundreds battling for a railroad that never came.
How does one package and sell confidence in the stability of a nation riven by civil strife? This was the question that loomed before the Philadelphia financial house of Jay Cooke & Company,&8239;entrusted&8239;by the US government with an unprecedented sale of bonds to finance the Union war effort in the early days of the American Civil War.&8239;How the government and its agents marketed these bonds revealed a version of the war the public was willing to buy and buy into, based not just in the full faith and credit of the United States but also in the success of its armies and its long-term vision for open markets. From Maine to California, and in foreign halls of power and economic influence,&8239;thousands of agents were deployed to&8239;sell&8239;a clear message: Union victory was unleashing the American economy itself. This fascinating work of&8239;financial and political history&8239;during&8239;the Civil War&8239;era&8239;shows&8239;how the marketing and sale of bonds crossed the Atlantic to Europe and beyond, helping ensure foreign countries' vested interest in the Union's success. Indeed, David K. Thomson demonstrates how Europe, and ultimately all corners of the globe, grew deeply interdependent on American finance during, and in the immediate aftermath of, the American Civil War.&8239;
Relations between the press and politicians in modern America have always been contentious. In The Press Gang, Mark Summers tells the story of the first skirmishes in this ongoing battle. Following the Civil War, independent newspapers began to separate themselves from partisan control and assert direct political influence. The first investigative journalists uncovered genuine scandals such as those involving the Tweed Ring, but their standard practices were often sensational, as editors and reporters made their reputations by destroying political figures, not by carefully uncovering the facts. Objectivity as a professional standard scarcely existed. Considering more than ninety different papers, Summers analyzes not only what the press wrote but also what they chose not to write, and he details both how they got the stories and what mistakes they made in reporting them. He exposes the peculiarly ambivalent relationship of dependence and distaste among reporters and politicians. In exploring the shifting ground between writing the stories and making the news, Summers offers an important contribution to the history of journalism and mid-nineteenth-century politics and uncovers a story that has come to dominate our understanding of government and the media.
From historian and critically acclaimed author of The Three-Cornered War comes the captivating story of how Yellowstone became the world’s first national park in the years after the Civil War, offering “a fresh, provocative study…departing from well-trodden narratives about conservation and public recreation” (Booklist, starred review). Each year nearly four million people visit Yellowstone National Park—one of the most popular of all national parks—but few know the fascinating and complex historical context in which it was established. In late July 1871, the geologist-explorer Ferdinand Hayden led a team of scientists through a narrow canyon into Yellowstone Basin, entering one of the last unmapped places in the country. The survey’s discoveries led to the passage of the Yellowstone Act in 1872, which created the first national park in the world. Now, author Megan Kate Nelson examines the larger context of this American moment, illuminating Hayden’s survey as a national project meant to give Americans a sense of achievement and unity in the wake of a destructive civil war. Saving Yellowstone follows Hayden and two other protagonists in pursuit of their own agendas: Sitting Bull, a Lakota leader who asserted his peoples’ claim to their homelands, and financier Jay Cooke, who wanted to secure his national reputation by building the Northern Pacific Railroad through the Great Northwest. Hayden, Cooke, and Sitting Bull staked their claims to Yellowstone at a critical moment in Reconstruction, when the Ulysses S. Grant Administration and the 42nd Congress were testing the reach and the purpose of federal power across the nation. “A readable and unfailingly interesting look at a slice of Western history from a novel point of view” (Kirkus Reviews), Saving Yellowstone reveals how Yellowstone became both a subject of fascination and a metaphor for the nation during the Reconstruction era. This “land of wonders” was both beautiful and terrible, fragile and powerful. And what lay beneath the surface there was always threatening to explode.