New York, the metropolis : its noted business and professional men. . were putupon the market many business men regarded them as a very risky investment. Hut Mr. Clews did not for amoment falter in his confidence of the Eederal Govern-ment. He knew the treasury was empty, but he believedin the strength and recu|)erative ])ower of the loyal North,and he put every dollar of his means in the bonds andwent largely into debt by borrowing. In 1884 Mr. Clewsfirm subscribed to the national loan at the rate of from fiveto ten millions a day, and Secretary Chase said at this Had it not been for J
New York, the metropolis : its noted business and professional men. . were putupon the market many business men regarded them as a very risky investment. Hut Mr. Clews did not for amoment falter in his confidence of the Eederal Govern-ment. He knew the treasury was empty, but he believedin the strength and recu|)erative ])ower of the loyal North,and he put every dollar of his means in the bonds andwent largely into debt by borrowing. In 1884 Mr. Clewsfirm subscribed to the national loan at the rate of from fiveto ten millions a day, and Secretary Chase said at this Had it not been for Jay Cook and Henry Clews I couldnever have succeeded in placing the 5-20 loan. The lateDuke of Marll)orough, on a recent visit to this country.])aid Mr. Clews a handsome and well deserved tribute,when he said to a member of the press that he consideredMr. Clews the brightest, smartest and (juickest man hehad ever met. To Mr. Clews is due the credit for theorigination of. and for putting vigorously into execution,the organization of the famous Committee of Seventy,. NEIV YORK, THE xMETROPOLIS. 33 whicli drove the entire l?oss Tweed ring out of offn e toseek refuge as exiles in foreign lands. After the close ofthe war Mr. Clews directed his attention to the foundationof a distinctively hanking business, retaining, of course,his valuable commission business in Ciovernment bondsand stocks. The extensive revival of railroad interestswhich immediately followed the termination of hostilitiesopened a new field for investments, and Mr. Clews for yearswas the most extensive negotiator of railroad loans in thiscountry or Europe. The present firm of Henry Clews i\:Co. was organized in 1877, the individual members pledgingthemselves never to take any speculative risks. This con-servative feature of the house, together with the largecapital it possesses, cannot but inspire the confidence ofthe public. The business of the firm is, jjrobably, widerand more varied than that of any other banking
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