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56 representing the same Philadelphia district for over a generation. He received me very kindly, but did not hold out much encouragement as to local success in my mission. He went so far as to go around with me personally to wealthy political sympathizers. They were nearly all business men; among them was Mr. Drexel, the senior member of the great banking-firm of Drexel & Co. Several of them, and especially Mr. Drexel, examined me closely as to the details of my project, and particularly regarding the precise uses which we proposed to make of the capital I was trying to raise. I was much embarrassed by being unable to answer some of their questions. My plan did not cover the point whether the subscribers would get something like shares in the company in return for their money, or whether they were expected simply to make gifts. The truth was, that my business knowledge had not been sufficient to make me qualified to elaborate the scheme on a joint-stock basis, and that what I really wanted was outright donations. I remember very distinctly how confounded I was by Mr. Drexel's remark: “Supposing that your enterprise were really laudable enough to deserve pecuniary help from me and others, why should you and your associates alone have all the benefits reaped from such assistance?” I got out of the quandary as best I could by stating that the subscribers who desired it could, of course, have their contributions treated by the company as loans. But, as I was utterly unprepared to give any guarantees or to show that the proper legal forms had been provided for in that respect, I not only failed to obtain subscriptions, but evidently became an object of suspicion.

Depressed and humiliated, I proceeded to New York. I put up at the Prescott House, a well-known and well-kept German hotel, mainly patronized by the Germans of the better classes from all parts of the United States and from the old country. One of the first persons I saw among the guests was “Colonel” Blenker, who had acquired considerable notoriety, during the rising in the Palatinate in