Showing posts with label History. Show all posts
Showing posts with label History. Show all posts

Friday, June 07, 2013

Fact Friday: A Little More History

Fact Friday:  A little More of History from the Journal of Commerce

If  the Journal of Commerce was ever branded conservative, cantankerous or stubborn — and it was — those traits could be traced directly to the most famous of the publication’s founders, Samuel F.B. Morse. The inventor of the Morse code was, in 1827, an underemployed and perennially indebted portrait artist and widower with three children. He also was a fiery reactionary who was easily roused to action by perceived blemishes on the moral fabric of society.

One such affront to Morse’s concept of decency was the appearance in February of what was, for the times, a scandalously dressed dancer at a Bowery theatre and by the positive reviews she received by critics, one of whom wrote, “She never lets concealment prey on her charms.” Morse vented anonymously in a letter to the Observer newspaper. In the process he called for the creation of a new aper that could help cleanse the city of its of its moral impurities. Morse went on to write the prospectus for the new newspaper and is credited by historians for giving it its name. The “Journal of Commerce” was not initially intended to be primarily a business newspaper, but instead was so named because wealthy merchants such as its initial bankroller, Arthur Tappan, were envisioned as its main supporters.

The Erie Canal had been opened just two years earlier, attracting a new business class of ambitious New Englanders such as Tappan to New York City.

Morse was a complex individual. Raised in New England by a Calvinist minister who was opposed to slavery and educated at Phillips Academy and Yale, he held strong prejudices, including being a supporter of slavery.

“He dislikes immigrants, especially Catholics and especially Irish,” said Kenneth Silverman, whose biography of Morse, “Lighting Man,” will be published by Knopf next year. “A lot of that came from his visits to Europe, where he got to see the Catholic church first-hand and blamed it for the state of European society, which he thought was immoral, backward and despotic, and didn’t want that to come to America.

“The other side of it is that he is a tremendously imaginative and inventive guy,” Silverman said. He credits Morse with largely creating the art scene in New York, helping found the National Academy of Design in 1825. Morse was himself an accomplished artist acknowledged by posterity; in 1982 one of his paintings sold for the highest price ever paid for the work of an American artist, $3.25 million.

By the late 1830s Morse was working full time on the device for which he would become most famous, the electric telegraph. It was not his idea, and other models had been proposed earlier, according to historians. Even the Morse Code did not differ significantly from others’ versions. But Morse persuaded Congress to fund the first telegraph line from Baltimore to Washington, over which were sent the famous words, “What hath God wrought!” It took a U.S. Supreme Court decision to finally secure Morse’s patent rights to the invention, but he had already gotten rich, buying an estate overlooking the Hudson and building an Italian villa there.

Throughout his life, Morse maintained an affection for the JoC. He used the publication to defend the National Academy of Design and when he went abroad he was occasionally asked to serve as a special correspondent.

Friday, May 31, 2013

Fact Friday: A little bit of History

Fact Friday:  A little bit of History from the Journal of Commerce

It was early October 1830, and the young man climbing onto the anchored ship was a reporter for The Journal of Commerce. He was after the latest news from the Continent and the vessel’s cargo manifests. If he could get them back into port before any other reporter could reach the French ship, his paper would have another exclusive on the latest news from Europe.

And the New York businessmen who would be eagerly reading the paper would get an early look at the kind of cargo the ship would be bringing in for auction to the highest bidders on the waterfront.

The schooner that pulled alongside the French vessel, inbound from Le Havre, was called the Evening Edition, the newest of two so-called news boats owned by the newspaper. Their shallow draft and speed enabled them to skim over the shoals that ringed the harbor and easily beat the rowboats maintained by rival newspapers back into Lower Manhattan.

When the Evening Edition slid into its berth near the foot of Manhattan that afternoon, the reporter raced up the gangplank and back to his paper’s editorial offices at 91 Wall Street, just off Water Street.

The story he had scribbled on his notepad would give New Yorkers their first news of the astounding coup in France. King Charles X had abdicated in the wake of street riots in Paris that marked the Revolution of 1830. The story reported that Louis-Phillippe, the “citizen king,” had assumed the throne.

The “scoop” published by The Journal of Commerce in its special “extra” edition that day in 1830 was one of many the paper gained through its fleet of news boats. The boats characterized the paper’s commitment to being the fastest and most accurate of New York’s many papers. Over the coming years, the JoC would adapt its methods of news-gathering to the continuing revolutions in technology that would transform the way papers gathered the news.

Willingness to embrace change has enabled The Journal of Commerce, which is 175 years old this year, to survive while countless other publications have failed. Change is the very nature of the world The Journal of Commerce has covered since the day it was born on Sept. 1, 1827.

Over the years The Journal of Commerce has been a respected voice on subjects as diverse as banking, commodities, insurance, energy and transportation. Today the emphasis of the weekly Journal of Commerce newsmagazine and its breaking-news website, The Journal of Commerce Online, is on international trade, transportation and logistics — subjects that descend directly from the paper’s coverage early in its history.

International trade has been at the heart of the JoC’s coverage since the publication was launched by a group of upright New York businessmen as part of a war on sin. In fact, it was the unbending religious convictions of its founders that steered the paper into becoming the young nation’s leading maritime and business journal.
in New York, NY.