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1851-1921 By Elmer Davis Originally published 1921 |
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boom, but incurred his chief's disfavor by speaking
out some plain truths on the slavery question in
connection with the compromise proposals of that
year. Raymond was not then, and never was till
well along in the Civil War, an abolitionist; but he
did not think that the more urgent question of the
slave power in politics could be cured by ignoring
it or by tame surrender. His independence got him into Webb's bad graces, and when Raymond went to Albany for the legislative session that winter he was eager to get away from Webb and start out for himself.
Jones was somewhat more reluctant to give up a business which he had made profitable, but it happened that a bill was then before the legislature which proposed to regulate the rate of bank-note redemption so severely that it would make the business entirely too hazardous for men of integrity. One day.. early in 1851, Jones and Raymond were walking. across the Hudson on the ice when Jones observed that he had heard that The Tribune had made a profit of $60,000 - in those days an enormous sum - in the past year. This renewed Raymond's enthusiasm, and before they reached the other shore he had obtained, Jones's promise to join him, if the redemption bill passed, in the establishment of a new daily, in New York. The bill did pass. Jones closed up his business, and he and his business associate, E. B. Wesley, prepared to put their money, with
Raymond's experience, into the new venture.
But if this series of accidents led directly ,to the
establishment of The Times, it is nevertheless true
that essentially the. paper was brought into being to
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