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Jay Cooke's Gamble NP Railroad
M. John Lubetkin
Oklahoma U Press
ISBN or Item #
Date Listed:
2006-03-28 16:11:44
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Untitled Document

Jay Cooke's Gamble

The Northern Pacific Railroad, the Sioux, and the Panic of 1873

By M. John Lubetkin.

Cloth with dust jacket, 400 pages, 10x7, 55 b&w illus., 14 maps. 2006.

of related interest: James J. Hill Empire Builder of the Northwest

"In 1869, Jay Cooke, the brilliant but idiosyncratic American banker, decided to finance the Northern Pacific, a transcontinental railroad planned from Duluth, Minnesota, to Seattle. M. John Lubetkin tells how Cooke's gamble reignited war with the Sioux, rescued George Armstrong Custer from obscurity, created Yellowstone Park, pushed frontier settlement four hundred miles westward, and triggered the Panic of 1873.

"Staking his reputation and wealth on the Northern Pacific, Cooke was soon whipsawed by the railroad's mismanagement, questionable contracts, and construction problems. Financier J. P. Morgan undermined him, and the Crédit Mobilier scandal ended congressional support. When railroad surveyors and army escorts ignored Sioux chief Sitting Bull’s warning not to enter the Yellowstone Valley, Indian attacks - combined with alcoholic commanders - led to embarrassing setbacks on the field, in the nation's press, and among investors.

"Lubetkin's suspenseful narrative describes events played out from Wall Street to the Yellowstone and vividly portrays the soldiers, engineers, businessmen, politicians, and Native Americans who tried to build or block the Northern Pacific." Robert M. Utley, author of Cavalier in Buckskin: George Armstrong Custer and the Western Military Frontier

"M. John Lubetkin, a retired cable television executive, was the 2004 recipient of the Little Big Horn Associates’ Lawrence A. Frost award."

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