Jay Cooke and Donald Alexander Smith Comparative Essay

In: Historical Events

Submitted By Robareo
Words 1080
Pages 5
Jay Cooke was an American Banking Financier, who operated his own banking house during the American Civil War bonds for the Federal Government. He was also recognized for his role in the financing of railroads in the northwestern United States. Donald Alexander Smith was a Canadian politician, diplomat, philanthropist and business leader who had a great deal of interest in the fur trade, railroads and banking. Jay Cooke and Donald Smith were both historical forces and instrumental in shaping the development of business. Jay Cooke was an entrepreneur who developed a method to create a productive system for government fundraising through selling bonds, whereas Donald Smith was business savvy, who strived on connections, contacts and opportunities he was faced with. The differences in conducting and operating business are very prominent but the end result in what they overall accomplished for their respective countries are very similar.
The role one plays in a respective business can be very significant and allow them to achieve success and prosper. Jay Cooke and Donald Alexander Smith are two men who fall into this category, as the role they play in their businesses, Cooke and Company and the Hudson’s Bay Company (HBC), throughout their career is different but very meaningful. Donald Alexander Smith began his career immediately by obtaining an apprenticeship clerk position at the Hudson’s Bay Company, where he later began to move up the positions in eventually becoming Chief Commissioner. Smith played a very vital role in the success of HBC when they were transferring territories of the company to the government of Canada, as he was appointed mediator in order to make the transition very smooth. After holding this position he continued to work diligently in negotiating and operating the land sales of the company, where he made his own fortune by…...

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