The Life and Legend of Jay Gould

Rating:
Summary: A Valentine for Jay Gould
Review: In the "Life and Legend of Jay Gould," historian Maury Klein seeks to resurrect the image of the archetypal -- but now largely forgotten -- early American industrialist.

The names Vanderbilt, Rockefeller, Carnegie and Morgan are familiar to nearly everyone, and in this 497-page biography Klein makes a convincing case that Jay Gould belongs in that pantheon of early American business giants. From his early maneuvers (which Klein claims permanently undermined his reputation) in fighting for control of the Erie Railroad and an attempt to corner the gold market, to his Herculean efforts to build and maintain a vast transportation and communications empire in the face of brutal competition and economic and political chaos, Gould emerges as a true pioneer in American corporate finance. Moreover, perhaps more than any of his contemporaries, Jay Gould was the personification of the so-called "robber baron"; the man and the myth were consummate.

Yet, for all of its promise, this book is a huge disappointment. Klein is a classically trained historian and accomplished professional academic, yet this book reads as if it were composed by a fawning amateur. A project that began as an effort to "set the record straight," ultimately degenerates into a frustratingly air-brushed portrait of a very complex and capable man. Rather than a balanced and objective review of Gould's character and business acumen, the book takes on the form of a giddy valentine. Seemingly every move Gould makes is judged by Klein as "brilliant, masterful and unexpected," while his long list of formidable rivals are portrayed as bumbling morons. For example, after Gould ascended to a leadership position in the Union Pacific railroad, he moved to thwart the ruinous rate wars in transcontinental shipping that had erupted with the Pacific Mail steamship company, the Union Pacific's sole competitor in that market at that time. Shortly thereafter the Panama Railroad, the critical nexus upon which all of Pacific Mail's business depended, was acquired by another speculator and the transit contract with Pacific Mail abrogated. Klein describes Gould's actions in acquiring Pacific Mail and in getting out of the Panama railroad jam in glowing terms, but not a word is said about how someone with his supposed perspicacity could leave such a obviously vulnerable flank exposed in the first place.

Also, the author almost totally neglects Gould's private life. Early in the book Klein confidently pronounces that "Two concerns dominated the rest of Gould's life, business and devotion to family." Yet, from that point forward, nary a word is spoken about Gould's relationship with his wife and family -- or specifically about his relationship with the son whose incapable hands the family fortune would be left to and squandered. In comparison to Ron Chernow's and Jean Strause's treatment of the private lives of John D. Rockefeller and J.P. Morgan, respectively, in recent biographies, Klein's performance in this regard is particularly disappointing.

In closing, two things are clear after reading "The Life and Legend of Jay Gould": 1) Jay Gould was a giant of American business, easily on par with Rockefeller and Carnegie; and 2) the definitive one-volume biography of his amazing life has yet to be written.

Rating:
Summary: a book which separates fiction from fact
Review: Jay Gould is remembered as the worst of the 19th century "Robber Barons" - a destroyer of companies - yet as Maury Klein so ably details, this reputation was almost wholly fabricated by the media and bears little resemblance to a man obsessed with building a transportation and communications empire. Klein's book is more than about Jay Gould, it's about the vast gulf separating all-too-common media generated myths and the truth.

Rating:
Summary: A WELL DOCUMENTED HISTORY ON THE AMERICAN RAILROAD
Review: This book gives a complete description of what it took to develop the American railroads to what it has become. What the author also tries to do is to fight some of the negative comments made by other authors and the press which were not warranted. This book goes into the necessary research to prove them wrong! Each chapter starts with about three quotes from other books or the press and then they are dealt with accordingly. One can also learn a great deal about how the politics of the day operated with its friends, bribery etc. However, I find that the book could have been about half the size and that 300-400 pages would have done just a good job without too much of excess material. This book might be more suited for railroad buffs rather than investors and speculators.

Rating:
Summary: A WELL DOCUMENTED HISTORY ON THE AMERICAN RAILROAD
Review: This book gives a complete description of what it took to develop the American railroads to what it has become. What the author also tries to do is to fight some of the negative comments made by other authors and the press which were not warranted. This book goes into the necessary research to prove them wrong! Each chapter starts with about three quotes from other books or the press and then they are dealt with accordingly. One can also learn a great deal about how the politics of the day operated with its friends, bribery etc. However, I find that the book could have been about half the size and that 300-400 pages would have done just a good job without too much of excess material. This book might be more suited for railroad buffs rather than investors and speculators.

Rating:
Summary: Wonderful reading
Review: This is book that one needs to purchase if you are interested in the guilded age and one of its smoothest operators. Rising from humble roots Gould camer to dominate the american railroad and finance businesses. Launching many famous raids on wall street, he teamed up with Fisk to try and corner the Gold market.

Jay Gould is a classic american. A trader who was born and worked in a tannery and as an surveyor as a young man he rose to fame and infame. An amazing story, worth the read!

Rating:
Summary: Wonderful reading
Review: This is book that one needs to purchase if you are interested in the guilded age and one of its smoothest operators. Rising from humble roots Gould camer to dominate the american railroad and finance businesses. Launching many famous raids on wall street, he teamed up with Fisk to try and corner the Gold market.

Jay Gould is a classic american. A trader who was born and worked in a tannery and as an surveyor as a young man he rose to fame and infame. An amazing story, worth the read!