Peter Cooper

Peter Cooper (February 12, 1791 – April 4, 1883) was an American industrialist, inventor, philanthropist, and politician. He designed and built the first American steam locomotive, the Tom Thumb, founded the Cooper Union for the Advancement of Science and Art, served as its first president, and stood for election as the Greenback Party's candidate in the 1876 presidential election.

Cooper began tinkering at a young age while working in various positions in New York City. He purchased a glue factory in 1821 and used that factory's profits to found the Canton Iron Works, where he earned even larger profits by fabricating machinery such as the Tom Thumb. Cooper's success as a businessman and inventor continued over the ensuing decades, and he became the first mill operator to successfully use anthracite coal to puddle iron. He also developed numerous patents for products such as gelatin and participated in the laying of the first transatlantic telegraph cable.

During the Gilded Age, Cooper became an ardent critic of the gold standard and the debt-based monetary system of bank currency, advocating instead for government-issued banknotes. Cooper was nominated for president at the 1876 Greenback National Convention, and the Greenback ticket of Cooper and Samuel Fenton Cary won just under one percent of the popular vote in the 1876 presidential election. His son Edward and his son-in-law Abram Hewitt both served as Mayor of New York City.

Peter Cooper was born in New York City of Dutch, English and Huguenot descent, the fifth child of John Cooper, a Methodist hatmaker from Newburgh, New York. His family descended from Obidiah Cooper, who had settled in New York from England around 1662. Cooper lived in Peekskill from a young age until age 17, when he returned to New York City to become an apprentice. He worked as a coachmaker's apprentice, cabinet maker, hatmaker, brewer and grocer, and was throughout a tinkerer: he developed a cloth-shearing machine which he attempted to sell, as well as an endless chain he intended to be used to pull barges and boats on the newly completed Erie Canal (which was routed west to east across upper New York State from Lake Erie to the upper Hudson River) which its chief supporter, the Governor of New York, De Witt Clinton approved of, but which Cooper was unable to sell. During the War of 1812, Cooper ran a wood mill which supplied the Americans throughout the war, though this venture failed after the war's conclusion and he sold the business as a furniture shop.

In 1821, Cooper purchased a glue factory on Sunfish Pond on east side Manhattan Island for $2,000 at Kips Bay, where he had access to raw materials from the nearby slaughterhouses, and ran it as a successful business for many years, producing a profit of $10,000 (equivalent to roughly $200,000 in 21st century value today) within 2 years, developing new ways to produce glues and cements, gelatin, isinglass and other products, and becoming the city's premier provider to tanners (leather), manufacturers of paints, and dry-goods merchants. The effluent from his successful factory eventually polluted the pond so much that in 1839 it had to be drained and backfilled for eventual building construction.

Having been convinced that the proposed Baltimore and Ohio Railroad would drive up prices for land in Maryland, Cooper used his profits to buy 3,000 acres (12 km²) of land there in 1828 and began to develop them, draining swampland and flattening hills, during which he discovered iron ore on his property. Seeing the Baltimore and Ohio Railroad as a natural market for iron rails to be made from his ore, he founded the Canton Iron Works in Baltimore, and when the railroad developed technical problems, he put together the Tom Thumb steam locomotive for them in 1829 from various old parts, including musket barrels, and some small-scale steam engines he had fiddled with back in New York. The engine was a rousing success, prompting investors to buy stock in B&O, which enabled the company to buy Cooper's iron rails, making him what would be his first fortune.

Cooper began operating an iron rolling mill in New York beginning in 1836, where he was the first to successfully use anthracite coal to puddle iron. Cooper later moved the mill to Trenton, New Jersey, on the Delaware River to be closer to the sources of the raw materials the works needed. His son and son-in-law, Edward Cooper and Abram S. Hewitt, later expanded the Trenton facility into a giant complex employing 2,000 people, in which iron was taken from raw material to finished product.

Cooper also operated a successful glue factory in Gowanda, New York, that produced glue for decades. A glue factory was originally started in association with the Gaensslen Tannery, there, in 1874, though the first construction of the glue factory's plant, originally owned by Richard Wilhelm and known as the Eastern Tanners Glue Company, began on May 5, 1904. Gowanda, therefore, was known as America's glue capital.