Hercules L. Dousman
Encyclopedia
Hercules Louis Dousman (August 4, 1800 – September 12, 1868) was a trader and real-estate speculator
who played a large role in the economic development of Wisconsin
. He is often called Wisconsin's first millionaire
.
, Michigan
, the son of Michael Dousman
, a prominent fur trade
r on the island. Hercules went on to be educated in Elizabethtown, New Jersey, and then worked as a clerk in a New York City
store. Later he returned to Mackinac Island, where he was employed by the American Fur Company
. In 1826, the company sent Dousman to the frontier settlement of Prairie du Chien, Wisconsin
, where he worked as an assistant to the company's local agent Joseph Rolette
.
In Prairie du Chien, Dousman proved his abilities as a trader, quickly rising in the company's ranks. By 1834 he had acquired an interest in the company's Western Outfit, and in 1840 he became an equal partner in the business together with Joseph Rolette and Henry Hastings Sibley
. Then in 1842 the American Fur Company declared bankruptcy, and in order to continue in the trade Dousman entered into a joint venture with Rolette, Sibley, and Pierre Chouteau to organize a new company which would take its place on the upper Mississippi. Only a few months later, Rolette died in debt to the new company, and most of his estate was seized by the remaining partners, including Dousman. With this and other revenue, Dousman's wealth began to rise, and it only grew as Dousman began to invest in lumber mills in northern Wisconsin and real estate in some of the states growing population centers.
As Dousman began building his investments during the 1830s, he also began a long affair with a Prairie du Chien woman named Margaret Campbell. Together they had three children: Emily, George, and a third unnamed child who died at birth in 1838. Campbell also died at that time. Dousman would eventually marry Jane Fisher Rolette, the soon-to-be widow of his partner in the trade, Joseph Rolette.
in the 1870s, is called the "House on the Mound", because of its location atop what is believed to be a prehistoric Indian mound. Hercules and Jane Dousman had one son, Hercules Louis Dousman II
, who was born on April 3, 1848. Less than two months after the child's birth, Wisconsin became a state.
As Wisconsin grew, the fur trade was sent into decline, primarily because the Native Americans who formed an essential part of the trade were being pushed west by new settlers. Dousman withdrew from the fur trade in the late 1840s in order to focus on his investments. In addition to his numerous holdings in real-estate, grain, and lumber, Dousman became involved in transportation companies, investing in packet companies and steamboat
s that ran on the Mississippi River
.
In 1852, Dousman became a principal investor in the Madison & Prairie du Chien Railroad, a company formed to ensure that the larger Milwaukee & Mississippi Railroad would meet its goal of connecting Lake Michigan
with the Mississippi River. The two companies combined only a few years later, and would eventually grow into the Chicago, Milwaukee, St. Paul and Pacific Railroad
. Dousman was very influential in bringing the railroad to Prairie du Chien by 1857, making the Milwaukee & Mississippi the first railroad to lay track all the way across Wisconsin. Prairie du Chien's new rail connection caused a small boom in the city's population and business. Since Dousman owned much of the land in the city he made a large profit from this, and his net worth grew substantially, reaching a million dollars at a time when fewer than a thousand Americans could claim to possess such a figure.
Dousman died of heart failure on September 12, 1868. By this time he was regarded as one of Wisconsin's wealthiest and most influential men, and his property passed to his wife Jane and son Louis. Dousman has since been immortalized by the Villa Louis historic site in Prairie du Chien and as the central character of two novels by August Derleth
, Bright Journey and The House on the Mound. Dousman is buried at Calvary Cemetery in Prairie du Chien.
Speculation
In finance, speculation is a financial action that does not promise safety of the initial investment along with the return on the principal sum...
who played a large role in the economic development of Wisconsin
Wisconsin
Wisconsin is a U.S. state located in the north-central United States and is part of the Midwest. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake Michigan to the east, Michigan to the northeast, and Lake Superior to the north. Wisconsin's capital is...
. He is often called Wisconsin's first millionaire
Millionaire
A millionaire is an individual whose net worth or wealth is equal to or exceeds one million units of currency. It can also be a person who owns one million units of currency in a bank account or savings account...
.
Early life and trading activities
Dousman was born on Mackinac IslandMackinac Island
Mackinac Island is an island and resort area covering in land area, part of the U.S. state of Michigan. It is located in Lake Huron, at the eastern end of the Straits of Mackinac, between the state's Upper and Lower Peninsulas. The island was home to a Native American settlement before European...
, Michigan
Michigan
Michigan is a U.S. state located in the Great Lakes Region of the United States of America. The name Michigan is the French form of the Ojibwa word mishigamaa, meaning "large water" or "large lake"....
, the son of Michael Dousman
Michael Dousman
Michael Dousman was a fur trader and merchant with business interests in and around Mackinac Island during the War of 1812 period. He was the father of Wisconsin pioneer Hercules L...
, a prominent fur trade
Fur trade
The fur trade is a worldwide industry dealing in the acquisition and sale of animal fur. Since the establishment of world market for in the early modern period furs of boreal, polar and cold temperate mammalian animals have been the most valued...
r on the island. Hercules went on to be educated in Elizabethtown, New Jersey, and then worked as a clerk in a New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
store. Later he returned to Mackinac Island, where he was employed by the American Fur Company
American Fur Company
The American Fur Company was founded by John Jacob Astor in 1808. The company grew to monopolize the fur trade in the United States by 1830, and became one of the largest businesses in the country. The company was one the first great trusts in American business...
. In 1826, the company sent Dousman to the frontier settlement of Prairie du Chien, Wisconsin
Prairie du Chien, Wisconsin
Prairie du Chien is a city in and the county seat of Crawford County, Wisconsin, United States. The population was 5,911 at the 2010 census. Its Zip Code is 53821....
, where he worked as an assistant to the company's local agent Joseph Rolette
Jean Joseph Rolette
Jean Joseph Rolette , often known as Joseph Rolette, was a prominent fur trader and member of the Mackinac Company who operated a trading post in Prairie du Chien, Wisconsin....
.
In Prairie du Chien, Dousman proved his abilities as a trader, quickly rising in the company's ranks. By 1834 he had acquired an interest in the company's Western Outfit, and in 1840 he became an equal partner in the business together with Joseph Rolette and Henry Hastings Sibley
Henry Hastings Sibley
Henry Hastings Sibley was the first Governor of the U.S. state of Minnesota.-Early life and education:...
. Then in 1842 the American Fur Company declared bankruptcy, and in order to continue in the trade Dousman entered into a joint venture with Rolette, Sibley, and Pierre Chouteau to organize a new company which would take its place on the upper Mississippi. Only a few months later, Rolette died in debt to the new company, and most of his estate was seized by the remaining partners, including Dousman. With this and other revenue, Dousman's wealth began to rise, and it only grew as Dousman began to invest in lumber mills in northern Wisconsin and real estate in some of the states growing population centers.
As Dousman began building his investments during the 1830s, he also began a long affair with a Prairie du Chien woman named Margaret Campbell. Together they had three children: Emily, George, and a third unnamed child who died at birth in 1838. Campbell also died at that time. Dousman would eventually marry Jane Fisher Rolette, the soon-to-be widow of his partner in the trade, Joseph Rolette.
Community leader
In 1844, two years after Joseph Rolette's death, Dousman would marry his widow, Jane. Together the couple moved into the large two story brick house that Dousman had constructed a year earlier. Today this house, which was replaced by the Villa LouisVilla Louis
The Villa Louis, also known as Dousman Mansion, is a National Historic Landmark located on St. Feriole island in Prairie du Chien, Wisconsin. Today the site is restored to its appearance during the late 19th Century, when it was the estate of the prominent H. Louis Dousman family. At the center of...
in the 1870s, is called the "House on the Mound", because of its location atop what is believed to be a prehistoric Indian mound. Hercules and Jane Dousman had one son, Hercules Louis Dousman II
H. Louis Dousman
Hercules Louis Dousman II , better known as Louis Dousman, was the son of Wisconsin millionaire Hercules Louis Dousman I. After inheriting his father's wealth, Dousman became a prominent Midwestern socialite and art collector.Louis Dousman was born in Prairie du Chien, Wisconsin, the son of...
, who was born on April 3, 1848. Less than two months after the child's birth, Wisconsin became a state.
As Wisconsin grew, the fur trade was sent into decline, primarily because the Native Americans who formed an essential part of the trade were being pushed west by new settlers. Dousman withdrew from the fur trade in the late 1840s in order to focus on his investments. In addition to his numerous holdings in real-estate, grain, and lumber, Dousman became involved in transportation companies, investing in packet companies and steamboat
Steamboat
A steamboat or steamship, sometimes called a steamer, is a ship in which the primary method of propulsion is steam power, typically driving propellers or paddlewheels...
s that ran on the Mississippi River
Mississippi River
The Mississippi River is the largest river system in North America. Flowing entirely in the United States, this river rises in western Minnesota and meanders slowly southwards for to the Mississippi River Delta at the Gulf of Mexico. With its many tributaries, the Mississippi's watershed drains...
.
In 1852, Dousman became a principal investor in the Madison & Prairie du Chien Railroad, a company formed to ensure that the larger Milwaukee & Mississippi Railroad would meet its goal of connecting Lake Michigan
Lake Michigan
Lake Michigan is one of the five Great Lakes of North America and the only one located entirely within the United States. It is the second largest of the Great Lakes by volume and the third largest by surface area, after Lake Superior and Lake Huron...
with the Mississippi River. The two companies combined only a few years later, and would eventually grow into the Chicago, Milwaukee, St. Paul and Pacific Railroad
Chicago, Milwaukee, St. Paul and Pacific Railroad
The Milwaukee Road, officially the Chicago, Milwaukee, St. Paul and Pacific Railroad , was a Class I railroad that operated in the Midwest and Northwest of the United States from 1847 until its merger into the Soo Line Railroad on January 1, 1986. The company went through several official names...
. Dousman was very influential in bringing the railroad to Prairie du Chien by 1857, making the Milwaukee & Mississippi the first railroad to lay track all the way across Wisconsin. Prairie du Chien's new rail connection caused a small boom in the city's population and business. Since Dousman owned much of the land in the city he made a large profit from this, and his net worth grew substantially, reaching a million dollars at a time when fewer than a thousand Americans could claim to possess such a figure.
Dousman died of heart failure on September 12, 1868. By this time he was regarded as one of Wisconsin's wealthiest and most influential men, and his property passed to his wife Jane and son Louis. Dousman has since been immortalized by the Villa Louis historic site in Prairie du Chien and as the central character of two novels by August Derleth
August Derleth
August William Derleth was an American writer and anthologist. Though best remembered as the first publisher of the writings of H. P...
, Bright Journey and The House on the Mound. Dousman is buried at Calvary Cemetery in Prairie du Chien.