Henry D. Cooke
Encyclopedia
Henry David Cooke was an American
financier, journalist, railroad executive, and politician. He was the younger brother of Philadelphia financier Jay Cooke
. A member of the Republican
political machine
in post-Civil War Washington, D.C., Cooke was appointed first territorial governor of the District of Columbia by Ulysses S. Grant
.
Born in Sandusky, Ohio
in 1825, Cooke studied at Allegheny College, Meadville, Pennsylvania, and Transylvania University, Lexington, Kentucky. For a time he settled in San Francisco but a fire there left him burdened with debts. He returned to Ohio, joined the Sandusky Register as a journalist, and by 1856 had become the newspaper's sole editor and proprietor. That same year he became a presidential elector for John C. Fremont
, the first Republican
candidate for President of the United States
.
By 1860 Cooke was the proprietor of the Ohio State Journal, a Republican newspaper. Although it was unprofitable, it made him a favorite of such important Washington officials as Treasury Secretary
Salmon P. Chase
, Senator John J. Sherman
, and General Ulysses S. Grant
. These alliances made Cooke a particular asset to his brother Jay - Chase's friendship allowed the Cookes to become war profiteers during the Civil War, selling bonds and establishing the sale of government loans. To ensure his continuing political influence, Jay Cooke opened a Washington branch of his Jay Cooke & Co. financing firm in 1862, making Henry the partner in charge of that office.
Sherman's position on the Commission of Ways and Means
allowed Henry Cooke to gain a profitable contract for government binding, and in 1862 helped to make him President of the Washington and Georgetown Street Railroad Company. He also became President of the First Washington National Bank. In addition, Cooke became the Congressional Radical Republicans' factotum in maintaining power over the District of Columbia, financing (along with fellow Republican Alexander Robey Shepherd
) the election of Sayles J. Bowen as Mayor of Washington, D.C.
In 1870, the national capital was in dire financial straits, with both Congress and local government more involved with racial integration
and civil rights
policies for former slaves than with fiscal solvency or basic city services. With popular sentiment behind him, Republican political boss Alexander Shepherd convinced the Congress to unite the governments of Washington, Georgetown
, and Washington County
under a single territorial government for the District of Columbia, with the governor of the District to be appointed. Congress passed the bill in January 1871, and in the following month, President Ulysses S. Grant made Cooke, his friend (and an ally of Shepherd), governor of the District.
As governor, however, Cooke was only nominal. He was uninterested in the day-to-day running of the city, preferring his business interests and lobbying for his brother. Although he was chief executive officer of the city's Board of Public Works, he did not even bother to attend the meetings, allowing the board's vice president—Shepherd—to take over. In truth, even in his other duties, Cooke was largely an agent for Shepherd's agenda. A joke then in circulation asked "What do Governor Cooke and a sheep have in common? They are both led around by A. Shepherd."
Cooke was widely predicted to stay in power only until the formerly independent District sections of Washington, Georgetown
, and Washington County had eased their factional tensions and accepted unified rule over the District, upon which the universally beloved Shepherd would become governor. As expected, Cooke resigned in September 1873, on which Shepherd rose to power. Cooke returned to his duties as bank president and financier, suffering serious setbacks when Jay Cooke & Co. failed in the Panic of 1873
but continuing as the president of the First Washington National Bank until his death in 1881.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
financier, journalist, railroad executive, and politician. He was the younger brother of Philadelphia financier Jay Cooke
Jay Cooke
Jay Cooke was an American financier. Cooke and his firm Jay Cooke & Company were most notable for their role in financing the Union's war effort during the American Civil War...
. A member of the Republican
Republican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
political machine
Political machine
A political machine is a political organization in which an authoritative boss or small group commands the support of a corps of supporters and businesses , who receive rewards for their efforts...
in post-Civil War Washington, D.C., Cooke was appointed first territorial governor of the District of Columbia by Ulysses S. Grant
Ulysses S. Grant
Ulysses S. Grant was the 18th President of the United States as well as military commander during the Civil War and post-war Reconstruction periods. Under Grant's command, the Union Army defeated the Confederate military and ended the Confederate States of America...
.
Born in Sandusky, Ohio
Sandusky, Ohio
Sandusky is a city in the U.S. state of Ohio and the county seat of Erie County. It is located in northern Ohio and is situated on the shores of Lake Erie, almost exactly half-way between Toledo to the west and Cleveland to the east....
in 1825, Cooke studied at Allegheny College, Meadville, Pennsylvania, and Transylvania University, Lexington, Kentucky. For a time he settled in San Francisco but a fire there left him burdened with debts. He returned to Ohio, joined the Sandusky Register as a journalist, and by 1856 had become the newspaper's sole editor and proprietor. That same year he became a presidential elector for John C. Fremont
John C. Frémont
John Charles Frémont , was an American military officer, explorer, and the first candidate of the anti-slavery Republican Party for the office of President of the United States. During the 1840s, that era's penny press accorded Frémont the sobriquet The Pathfinder...
, the first Republican
Republican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
candidate for President of the United States
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
.
By 1860 Cooke was the proprietor of the Ohio State Journal, a Republican newspaper. Although it was unprofitable, it made him a favorite of such important Washington officials as Treasury Secretary
United States Secretary of the Treasury
The Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...
Salmon P. Chase
Salmon P. Chase
Salmon Portland Chase was an American politician and jurist who served as U.S. Senator from Ohio and the 23rd Governor of Ohio; as U.S. Treasury Secretary under President Abraham Lincoln; and as the sixth Chief Justice of the United States Supreme Court.Chase was one of the most prominent members...
, Senator John J. Sherman
John Sherman (politician)
John Sherman, nicknamed "The Ohio Icicle" , was a U.S. Representative and U.S. Senator from Ohio during the Civil War and into the late nineteenth century. He served as both Secretary of the Treasury and Secretary of State and was the principal author of the Sherman Antitrust Act...
, and General Ulysses S. Grant
Ulysses S. Grant
Ulysses S. Grant was the 18th President of the United States as well as military commander during the Civil War and post-war Reconstruction periods. Under Grant's command, the Union Army defeated the Confederate military and ended the Confederate States of America...
. These alliances made Cooke a particular asset to his brother Jay - Chase's friendship allowed the Cookes to become war profiteers during the Civil War, selling bonds and establishing the sale of government loans. To ensure his continuing political influence, Jay Cooke opened a Washington branch of his Jay Cooke & Co. financing firm in 1862, making Henry the partner in charge of that office.
Sherman's position on the Commission of Ways and Means
United States House Committee on Ways and Means
The Committee of Ways and Means is the chief tax-writing committee of the United States House of Representatives. Members of the Ways and Means Committee are not allowed to serve on any other House Committees unless they apply for a waiver from their party's congressional leadership...
allowed Henry Cooke to gain a profitable contract for government binding, and in 1862 helped to make him President of the Washington and Georgetown Street Railroad Company. He also became President of the First Washington National Bank. In addition, Cooke became the Congressional Radical Republicans' factotum in maintaining power over the District of Columbia, financing (along with fellow Republican Alexander Robey Shepherd
Alexander Robey Shepherd
Alexander Robey Shepherd , better known as Boss Shepherd, was one of the most controversial and influential civic leaders in the history of Washington, D.C., and one of the most powerful big-city political bosses of the Gilded Age. He was head of the DC Board of Public Works from 1871 to 1873 and...
) the election of Sayles J. Bowen as Mayor of Washington, D.C.
In 1870, the national capital was in dire financial straits, with both Congress and local government more involved with racial integration
Racial integration
Racial integration, or simply integration includes desegregation . In addition to desegregation, integration includes goals such as leveling barriers to association, creating equal opportunity regardless of race, and the development of a culture that draws on diverse traditions, rather than merely...
and civil rights
Civil rights
Civil and political rights are a class of rights that protect individuals' freedom from unwarranted infringement by governments and private organizations, and ensure one's ability to participate in the civil and political life of the state without discrimination or repression.Civil rights include...
policies for former slaves than with fiscal solvency or basic city services. With popular sentiment behind him, Republican political boss Alexander Shepherd convinced the Congress to unite the governments of Washington, Georgetown
Georgetown, Washington, D.C.
Georgetown is a neighborhood located in northwest Washington, D.C., situated along the Potomac River. Founded in 1751, the port of Georgetown predated the establishment of the federal district and the City of Washington by 40 years...
, and Washington County
Washington County, D.C.
The County of Washington was one of the five political entities contained within the geographic region comprising what was originally the 100-square-mile District of Columbia. These were the City of Alexandria, the County of Alexandria, Georgetown, the City of Washington, and the County of...
under a single territorial government for the District of Columbia, with the governor of the District to be appointed. Congress passed the bill in January 1871, and in the following month, President Ulysses S. Grant made Cooke, his friend (and an ally of Shepherd), governor of the District.
As governor, however, Cooke was only nominal. He was uninterested in the day-to-day running of the city, preferring his business interests and lobbying for his brother. Although he was chief executive officer of the city's Board of Public Works, he did not even bother to attend the meetings, allowing the board's vice president—Shepherd—to take over. In truth, even in his other duties, Cooke was largely an agent for Shepherd's agenda. A joke then in circulation asked "What do Governor Cooke and a sheep have in common? They are both led around by A. Shepherd."
Cooke was widely predicted to stay in power only until the formerly independent District sections of Washington, Georgetown
Georgetown, Washington, D.C.
Georgetown is a neighborhood located in northwest Washington, D.C., situated along the Potomac River. Founded in 1751, the port of Georgetown predated the establishment of the federal district and the City of Washington by 40 years...
, and Washington County had eased their factional tensions and accepted unified rule over the District, upon which the universally beloved Shepherd would become governor. As expected, Cooke resigned in September 1873, on which Shepherd rose to power. Cooke returned to his duties as bank president and financier, suffering serious setbacks when Jay Cooke & Co. failed in the Panic of 1873
Panic of 1873
The Panic of 1873 triggered a severe international economic depression in both Europe and the United States that lasted until 1879, and even longer in some countries. The depression was known as the Great Depression until the 1930s, but is now known as the Long Depression...
but continuing as the president of the First Washington National Bank until his death in 1881.