Sunday, August 10, 2003
Ohio Moments
Sandusky man financed Union troops
On Aug. 10, 1821, Jay Cooke - who was instrumental in financing the Union military during the Civil War - was born in Sandusky.
In 1861, Cooke set up the banking house Jay Cooke and Co. in Philadelphia. He worked with former Ohio Gov. Salmon P. Chase, then serving as secretary of the U.S. Treasury, to secure loans from other banks and distribute treasury notes to finance the war effort.
Cooke was so successful that Chase named him special agent for the sale of $500 million in bonds that Congress had failed to sell. Cooke quickly sold $11 million more in bonds than had been authorized. When the Union needed even more money, in 1865, Cooke sold another $800 million in bonds - enabling the federal government to pay and supply soldiers during the final months of the war.
Ohio State Fair history
In 1922, a fire destroyed six buildings on the fairgrounds just days before the fair's opening, causing more than $800,000 in damage.
- Rebecca Goodman
During this year's Ohio State Fair, which runs through Aug. 17, the Enquirer is looking back at significant moments in its 150 years. E-mail rgoodman@enquirer.com or call (513) 768-8361.
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