New Jersey as a colony and as a state, one of the original thirteen . their came rumors of the end, and upon thatBlack Friday of September, 1873, the crashcame. Men, plunged from affluence to poverty, be-came wrecks of their former selves. Their indus-tries were paralyzed, their workmen beggars. In1873 and 1874 there were nearly eleven thousandfailures, and the nation learned anew that old les-son that in spite of political conditions he whowould dance must pay for his pleasure. The effect in New Jersey was disastrous. Rail-roads, manufactures, and the farmers were alikecrippled. Th
New Jersey as a colony and as a state, one of the original thirteen . their came rumors of the end, and upon thatBlack Friday of September, 1873, the crashcame. Men, plunged from affluence to poverty, be-came wrecks of their former selves. Their indus-tries were paralyzed, their workmen beggars. In1873 and 1874 there were nearly eleven thousandfailures, and the nation learned anew that old les-son that in spite of political conditions he whowould dance must pay for his pleasure. The effect in New Jersey was disastrous. Rail-roads, manufactures, and the farmers were alikecrippled. There were but few who did not feel theevil that had fallen upon the nation. Municipali-ties which had engaged in expensive and oftenuseless improvements were either bankrupt orwere closely approaching that condition. Every-where were but the flotsam of personal fortunes. From these conditions the State and the nationemerged to once more enter upon a career of pros-perity, and to see the world, in a new light, in theCentennial Exposition held in Philadelphia TIIK NKW .TKRSKY BUILDING AT THK CENTENNIAL KXPftS^ITTOV CHAPTER VIIIThe Days of Camden and Amboy IT WAS upon February 27, 1867, that thecapital stock of the joint companies, con-sisting of the Delaware and Raritan CanalCompany, incorporated 1830, and the Cam-den and Amboy Railroad and Transporta-tion Company, also incorporated in 1830, was con-solidated with the capital stock of the New JerseyRailroad and Transportation Company, which lat-ter corporation was chartered in 1832. Under theinspiration of Dudley S. Gregory and Russell the New Jersey Railroad had secured fromthe Associates of the Jersey Company a con-trol of their stock, which gave to the railroadcompany the enjoyment of the ferry privileges, theundeveloped possibilities of which, in 1804, hadproved so attractive to Alexander Hamilton. Even before the middle of the nineteenth cen-tury the directors of the joint companies had real-ized that neither
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