Jim Fisk’s father, known as “Pop,” was pure Yankee descended from English forbears, an itinerant peddler who left home with a loaded wagon on Mondays to return at week’s end with diminished cargo but thicker wallet. On one peddling trip, he ran out of shawls and had an excess of small, flowered tablecloths, he assured housewives that the tablecloths were the latest Boston style in shawls and sold them all.”
Below, Fisk’s son Jim followed in his father’s footsteps, doing what it took to turn a profit. Once war came, he never “felt any desire to shoulder a musket and help save the Union,” leaving the war to be fought by enthusiastic volunteers and reluctant draftees, and himself more like those who bought their way out.
During the war Jim hired adventurous actress Lottie Hough to wheedle passes through Union lines and her success so complete that she retired postwar with an immense fortune. As Grant closed in on Richmond and sensing the Confederacy’s inevitable demise, he and a small clique sent an agent to London to buy Confederate bonds short to all buyers. The agent arrived two days before news of Lee’s surrender reached England, after making a financial killing for his employers.
The Jordan Marsh enterprise below was founded at Boston in 1841 by Eben Dyer Jordan and Benjamin L. Marsh.
Vast New Merchandising Opportunities
“Unlike most Bostonians, Fisk sensed that the South would not swallow Lincoln, that a war was coming. In the merits of the North-South quarrel he took little interest, but it struck him that whatever they were fighting about would open vast new merchandising opportunities. When Sumter fell and the war did come, he went to Washington to see if the government might be interested in purchasing textiles.
No one entertained with the rollicking bonhomie of James Fisk, Jr., one of the first of the war profiteers. Fisk’s company had several thousand blankets of an unappetizing color and somewhat mildewed. Retailers spurned them but Uncle Sam snapped them up.
In 1862, with cotton rotting in Southern warehouses and hard to come by in the North even at two dollars a pound, he set about to remedy the imbalance. While getting cotton out of the South involved trading with the enemy, violating the blockade, smuggling and possibly other illegalities, he justified on the ground of patriotism, reasoning that it was ridiculous that soldiers should be deprived of essential clothing – and merchants of profit – because of a mere technicality. The details of this bootleg operation, with its essential stratagems and bribes, remain dim, for he said little about it after the war.
Fisk never lacked courage if there was money in it, made several buying trips into the Dixie No Man’s Land . . . sending cotton north by the boatload, cargoes of fabulous value that kept the spindles whirring at Jordan Marsh, now the nation’s biggest enterprise of its kind. One of his biographers solemnly avers that his purchases of contraband cotton reached peaks as high as $800,000 a day.”
(Jim Fisk: The Career of an Unstoppable Rascal. W.A. Swanberg. Charles Scribner’s Sons, 1959, pp. 17-19