John H. Inman
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John Hamilton Inman (23 October 1844 – 5 November 1896) was an American capitalist who invested in cotton, coal, iron and steel, and railroads, especially in the impoverished
American South The Southern United States (sometimes Dixie, also referred to as the Southern States, the American South, the Southland, Dixieland, or simply the South) is census regions United States Census Bureau. It is between the Atlantic Ocean and the ...
during the
Reconstruction Era The Reconstruction era was a period in History of the United States, US history that followed the American Civil War (1861-65) and was dominated by the legal, social, and political challenges of the Abolitionism in the United States, abol ...
. While he is remembered as a tycoon in the age of ''
laissez-faire ''Laissez-faire'' ( , from , ) is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations). As a system of thought, ''laissez-faire'' ...
'', cut-throat capitalism, he nevertheless helped the economic development of his native state and the South in general.


Early years

John H. Inman was a member of one of the best-known families in
Tennessee Tennessee (, ), officially the State of Tennessee, is a landlocked U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders Kentucky to the north, Virginia to the northeast, North Carolina t ...
. His father was a merchant in the village of Dandridge, and owned a plantation nearby. The Inman children received a good common school education. John H. Inman supplemented his English education by reading extensively. He left school at fifteen years of age, and became a clerk in a
Georgia Georgia most commonly refers to: * Georgia (country), a country in the South Caucasus * Georgia (U.S. state), a state in the southeastern United States Georgia may also refer to: People and fictional characters * Georgia (name), a list of pe ...
bank of which his uncle was president. He proved so intelligent and efficient that within a year he was promoted to the position of assistant cashier. At the beginning of the
Civil War A civil war is a war between organized groups within the same Sovereign state, state (or country). The aim of one side may be to take control of the country or a region, to achieve independence for a region, or to change government policies.J ...
he enlisted in the
Confederate army The Confederate States Army (CSA), also called the Confederate army or the Southern army, was the military land force of the Confederate States of America (commonly referred to as the Confederacy) during the American Civil War (1861–1865), fi ...
although he was not yet eighteen years old. His father and relatives were impoverished by the war, and in September 1865, he went to
New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...
to seek his fortune. He obtained employment in a cotton house and was admitted to full partnership in the firm in 1868. In 1871 he founded the house of Inman, Swann and Co., in which he associated himself with his former partners. The business grew rapidly, and in a few years he amassed a fortune of several million dollars in the cotton trade, that came to be centered in New York City largely through his activity.


Southern resources

Inman made a careful study of Southern resources and wants, and determined to do what he could for the development of the South. In association with other businesspeople who relied on his judgment, he invested over $5 million in the enterprises of the
Tennessee Coal, Iron and Railroad Company The Tennessee Coal, Iron and Railroad Company (1852–1952), also known as TCI and the Tennessee Company, was a major American steel manufacturer with interests in coal mining, coal and iron ore mining and railroad operations. Originally based en ...
, including the
bituminous Bitumen ( , ) is an immensely viscous constituent of petroleum. Depending on its exact composition, it can be a sticky, black liquid or an apparently solid mass that behaves as a liquid over very large time scales. In American English, the m ...
coal mines at
Birmingham, Alabama Birmingham ( ) is a city in the north central region of Alabama, United States. It is the county seat of Jefferson County, Alabama, Jefferson County. The population was 200,733 at the 2020 United States census, 2020 census, making it the List ...
, the blast furnaces in that city, and Bessemer Steel Works at Ensley City, near there. He induced the investment of over $100,000,000 in Southern enterprises, and became a director in companies that possessed more than 10,000 miles of railroad. In 1883 Inman directed his attention to Southern railroads. He became a director in the East Tennessee. Virginia and Georgia system, the
Louisville and Nashville Railroad The Louisville and Nashville Railroad , commonly called the L&N, was a Class I railroad that operated freight and passenger services in the southeast United States. Chartered by the Commonwealth of Kentucky in 1850, the road grew into one of ...
, the Richmond and Danville Railroad, and the Nashville, Chattanooga and St. Louis Railway. Inman was a director in the Fourth National Bank in New York, and took so much interest in its prosperity that he refused a directorship in a prominent railroad company because a clause in the latter's charter made it impossible for a director of the company to also be director of a National Bank. Inman said, in declining, that he would rather part with all railroad interests than to sever connection with the Board of Directors of the Fourth National Bank. Among Southern enterprises Inman was largely interested in the organization of the Southern Iron Company, controlling the charcoal iron industry of the South. This concern brought about the manufacture of steel at the
Chattanooga Chattanooga ( ) is a city in Hamilton County, Tennessee, United States, and its county seat. It is located along the Tennessee River and borders Georgia (U.S. state), Georgia to the south. With a population of 181,099 in 2020, it is Tennessee ...
plant. He also owned a big tract of coal land in the
Sequatchie Valley Sequatchie Valley is a relatively long and narrow valley in the U.S. state of Tennessee and, in some definitions, Alabama. It is generally considered to be part of the Cumberland Plateau region of the Appalachian Mountains; it was probably formed ...
of Tennessee, one of the large centers of coal and iron interests below the
Ohio River The Ohio River () is a river in the United States. It is located at the boundary of the Midwestern and Southern United States, flowing in a southwesterly direction from Pittsburgh, Pennsylvania, to its river mouth, mouth on the Mississippi Riv ...
. Since 1886 Inman invested in the Richmond Terminal system of railroads and was chosen President in 1889. He was one of a few owners of the South Atlantic and Ohio Railroad, running from
Bristol, Tennessee Bristol is a city in Sullivan County, Tennessee, United States. The population was 27,147 at the 2020 census. It is the twin city of Bristol, Virginia, which lies directly across the state line between Tennessee and Virginia. The boundary be ...
to
Big Stone Gap, Virginia Big Stone Gap is a town in Wise County, Virginia, United States. The town was economically centered around the coal industry for much of its early development. The population was 5,254 at the 2020 census. History The community was formerly kn ...
. For many years, Inman competed for control of the Tennessee Railroad Company with New York Republican boss
Thomas C. Platt Thomas Collier Platt (July 15, 1833 – March 6, 1910), also known as Tom Platt
, who was represented between 1898 and 1891 by Company Chief Superintendent
Judge Hiram Bond Hiram Bond was born May 10, 1838, in Farmersville, Cattaraugus County, New York and died in Seattle March 29, 1906. He was a corporate lawyer, investment banker and an investor in various businesses including gold mining. His family are descend ...
of New York, but Inman was ultimately successful. Among other corporations in which Inman was a director were the American Cotton Oil Company, the Home Insurance Company, Royal Insurance Company of Liverpool, the American Pig Iron Storage Warrant Company, the American Surety Company, and the Liberty Insurance Company. Inman was appointed a New York City Rapid Transit Commissioner in 1891 and held the office until his death. He was one of the committee of five to provide a plan to secure the necessary financial aid for the World's Fair at the time New York was endeavoring to secure that exposition. The other members of the committee were
J. Pierpont Morgan John Pierpont Morgan Sr. (April 17, 1837 – March 31, 1913) was an American financier and investment banker who dominated corporate finance on Wall Street throughout the Gilded Age and Progressive Era. As the head of the banking firm that ...
,
August Belmont August Belmont Sr. (born Aron Belmont; December 8, 1813November 24, 1890) was a German-American financier, diplomat, and politician. He served as Chair of the Democratic National Committee from 1860 to 1872. He was also a thoroughbred racehors ...
, Samuel Babcock, and
Cornelius Vanderbilt Cornelius Vanderbilt (May 27, 1794 – January 4, 1877), nicknamed "the Commodore", was an American business magnate who built his wealth in railroads and shipping. After working with his father's business, Vanderbilt worked his way into lead ...
.


Personal life

Inman was married on 8 June 1870, to Margaret M. Coffin of Sweetwater, Monroe County, Tennessee, a granddaughter of Dr. Charles Coffin, the founder and for years the President of
Greenville College Greenville University is a private university in Greenville, Illinois, United States. It is affiliated with the Free Methodist Church. Established as Greenville College in 1892, the institution was renamed Greenville University in 2017. History ...
. Together, they had six children and lived in New York City. He died on 5 November 1896 in his country house in Berkshire, Massachusetts.


References

{{DEFAULTSORT:Inman, John H. 19th-century American businesspeople American manufacturing businesspeople 1844 births 1896 deaths People from Dandridge, Tennessee