paratively small number of similar institutions in the United States, the conduct and management of which were such that no complaint was ever made of a failure to keep faith with their patrons.

It was in connection with this institution that Mr. Blair first became prominent as a banker, and it was at the suggestion of his friend, McCulloch, the venerable financier, now resident of Washington City, that he removed to Chicago to become identified with the banking interests of a great city, and to be recognized as a controlling spirit in shaping its financial policy in more than one monetary crisis. Noted as the conservator of the city's interests, when those interests were imperiled, as the builder of one of the great banking institutions of Chicago, and as the accumulator of a splendid fortune, the story of Mr. Blair's transition from farm laborer to millionaire, is one to interest the youth of the land, to excite them to emulation, and inspire them with hope for the future, whatever the difficulties under which they may labor in the outset of their

careers.

Chauncey Buckley Blair was born June 18th, 1810, in Blandford, Mass., a town in which both his father and mother were also born. His mother, Hannah (Frary) Blair, was a daughter of Jonathan Frary, of Blandford; who was of English origin. On the paternal side, Mr. Blair was of Scotch descent. The American progenitor of

the family was Robert Blair, who immigrated to the United States, from Scotland, in 1718, and settled near Worcester, Mass. His son, Robert Blair, removed to Blandford, Hampden county, where he purchased a considerable body of land known locally as "the Gore Tract," which was an unbroken forest, traversed by no road, nor by anything more nearly resembling a road than the footpath which led to a fort some two miles distant from where he established his home. Here he and his sons carved out of the forest a productive farm, and here he became a deacon of the Presbyterian church, and was accounted a worthy and estimable citizen. His son, Rufus, was born, lived, and died at the old homestead. Samuel Blair, the son of Rufus, and father of Chauncey B. Blair, was born on the old farm, and lived in Blandford for some years after his marriage to Hannah Frary.

When Chauncey Blair-who was the second son of a family of seven children-was two years of age, his father removed to the town of Columbus, Chenango county, New York State. Two years later the elder Blair settled in the town of Cortland -in the same State-where he passed the remainder of his life..

When he was eleven years old, Chauncey returned to Blandford to live with his uncle at that place. There he attended the country schools a portion of each year, for several years, and spent the remainder of

his time laboring on his uncle's farm. When he attained his majority he went back to Cortland, New York, carrying with him one hundred and fifty dollars-which he had received. from his uncle for services rendered -and a small amount in addition, which he had earned by constructing a stone fence for a neighboring farmer, at a salary of eleven dollars per month. The next four years of his young manhood were spent in New York State, where he succeeded by dint of industry and economy, in adding to his savings to a considerable extent. In the spring of 1835, he moved westward with the throng of young men who were at that time being attracted to Indiana, Michigan and Illinois, and coming by way of the lakes, he landed at Detroit. From that point he traveled. overland through Southern Michigan, and into Northern Indiana. In La Porte county, Indiana, he attended for the first time, a sale of government lands, at public auction, and noted the intense interest of the early settlers in land speculation. He stopped at Michigan City-then in its infancylong enough to get an insight into realty operations in the west, to become impressed with the remarkable activity which he saw there, and possibly to become slightly affected with the speculative fever himself. In those days, however, as in later years, he was not to be carried away by popular excitement, and before investing any of his very limited capital, he

visited Chicago, Joliet, Ottawa, Dixon, Galena and other Illinois towns and settlements, traveling from place to place on horseback. In this way he familiarized himself with the country and its resources, and prepared himself for the extensive operations in unimproved lands, in which he engaged during the following two

years.

In the spring of 1836, after he had spent nearly, if not quite, a year on what was then "the frontier," he started on an exploring expedition, having in view the selection of farming lands, which could readily be transferred to the immigrants then. flocking into the country. Leaving Michigan City, he went first to Milwaukeee, and then to Rockford and Beloit, carefully studying by the way maps of the country, which he had secured from the government land office. In traveling through what was then known as the "Rock River Country," he found no settlers, and but two or three squatters or claim

After spending several weeks in a careful examination of the country in Southern Wisconsin and Northern Illinois-camping out wherever night happened to overtake him-he selected some fine agricultural lands near where the pretty little college town of Beloit, Wis., is now situated, and then set out for Green Bay to make his entries at the land office there. On the way he found no regularly established white settlements, and only two or three white inhabit

of

ants, these being Frenchmen, who were engaged in the Indian trade. When he passed Fort Winnebago, which was on the route he had selected, he found encamped there, a large number of Indians who had just received their annual allowance money from the Government, and who were engaged in the pleasing past-time of getting rid of their easily-acquired wealth, after the most approved Indian fashion. Although they were engaged in every species of debauchery, with which they were at all familiar, and were to a considerable extent crazed-as they usually were on such occasions by the liquor which they had consumed, they did not offer to molest or disturb Mr. Blair, and he passed on to Green Bay where he completed his purchase of the Government lands, of which he desired to become the owner. He then returned to Milwaukee, where he found a considerable number of immigrants, who hadjust arrived from the eastern States, and who had not yet selected their locations in the west. Most of them had come provided with means sufficient to enable them to purchase western farms, but where to seek the kind of lands they wanted they, as a rule, did not know.

Mr. Blair's knowledge of the country was such as to enable him to direct them, to his advantage and their own at the same time. He soon sold out the land which he had acquired by purchase from the Government, at a handsome profit, and continued buy

ing and selling in this way until the spring of 1837.

In this kind of land speculation his keen foresight and sound judgment at once became apparent, and he was uniformly successful in his operations up to the time that President Jackson issued his "specie circular" of 1837, in which all which all receivers of public moneys were directed to receive only gold and silver in payment for government lands This action of the Government practically put a stop, not only to land speculation, but, for the time being, to all land sales. Then followed the memorable monetary panic of that year, which was disastrous to all the business interests of the country, and ruinous to a large proportion of those investors who had overreached themselves in their purchases of western realty. Thus early in his career, however, Mr. Blair demonstrated the fact that he did business only upon a sound basis,and in accordance with correct business principles. Although his land transactions had been extensive he had not contracted a large indebtedness, and consequently he escaped the serious financial embarrassment from which the great majority of his contemporaries suffered.

In the fall of 1837 he purchased a stock of goods, and in company with his brother, Lyman Blair, began merchandising in Michigan City, Ind. The firm thus established was one which became widely known among the pioneer business houses of the