Peter Cooper, American businessman and philanthropist, founded Cooper Union (b. 1791)

Peter Cooper, born on February 12, 1791, and passing on April 4, 1883, was a quintessential American polymath whose life embodied the spirit of 19th-century innovation and social reform. Hailing from a modest background, he carved a remarkable path as an industrialist, a pioneering inventor, a profound philanthropist, and even an earnest politician. His journey from a young tinkerer to a national figure left an indelible mark on American infrastructure, education, and economic thought.

An Early Entrepreneur and Industrial Innovator

Cooper's innate curiosity and mechanical aptitude were evident from a young age, as he engaged in various roles across New York City, constantly exploring and refining ideas. His entrepreneurial career truly began to flourish in 1821 when he acquired a glue factory. Astutely reinvesting the profits from this venture, he established the Canton Iron Works. It was within the bustling environment of this iron works that Cooper's inventive genius truly shone, leading to the design and construction of the "Tom Thumb." This compact, yet powerful, steam locomotive was not merely a mechanical curiosity; it was America's first operational steam engine, a pivotal development that heralded a new era for railroad transportation across the burgeoning nation. Cooper’s success as a businessman and inventor was not a fleeting moment but rather a sustained trajectory of innovation. He achieved a significant milestone by becoming the first mill operator to successfully employ anthracite coal in the puddling process for iron production. This advancement was critical, as anthracite offered a more efficient and cleaner fuel source, transforming iron manufacturing. Beyond heavy industry, Cooper also held numerous patents for a range of products, including an early form of gelatin, which would later become a household staple. His pioneering spirit extended globally, as he played a significant role in one of the most ambitious engineering feats of his time: the laying of the first transatlantic telegraph cable, an achievement that dramatically accelerated communications between continents.

A Visionary Philanthropist: Founding The Cooper Union

While his industrial and inventive endeavors brought him considerable wealth and recognition, Peter Cooper's enduring legacy is perhaps best encapsulated by his philanthropic vision. In 1859, he founded The Cooper Union for the Advancement of Science and Art in New York City. This institution was revolutionary for its time, established with the profound belief that education should be "as free as water and air." Cooper Union was designed to provide working-class adults with practical skills and intellectual development, offering free courses in engineering, art, and architecture. It stood as a beacon of democratic access to knowledge, empowering generations of students regardless of their economic background and fostering a diverse environment of learning and innovation that continues to thrive today.

Political Activism and the Greenback Movement

As America entered the Gilded Age, a period marked by rapid economic expansion but also significant social and financial disparities, Cooper turned his attention to national economic policy. He became an impassioned critic of the prevailing gold standard and the debt-based monetary system reliant on bank-issued currency. Cooper fervently advocated for a system where the government itself would issue paper banknotes, believing this would provide a more flexible and stable currency, stimulate the economy, and alleviate the debt burdens on ordinary citizens, particularly farmers and laborers. This advocacy led him to the forefront of the Greenback Party, a political movement that sought monetary reform. In 1876, at the astonishing age of 85, Peter Cooper was nominated as the Greenback Party's candidate for President of the United States. His running mate was Samuel Fenton Cary. Though the Cooper-Cary ticket garnered just under one percent of the popular vote in the general election, his candidacy was a powerful statement, making him the oldest person ever to be nominated for President – a record that stands to this day. His campaign, though unsuccessful electorally, helped to popularize the debates around monetary policy and the role of government in the economy.

An Enduring Family and National Legacy

Peter Cooper’s influence extended through his family as well. His son, Edward Cooper, and his son-in-law, Abram Hewitt, both followed in his footsteps of public service, each serving as Mayor of New York City, further cementing the family's deep ties to the city's development and governance. Peter Cooper’s life story is a testament to American ingenuity, perseverance, and a deep commitment to social progress. From his transformative work in industrial production and transportation to his revolutionary approach to free education and his earnest, albeit unconventional, foray into national politics, Cooper truly left an indelible mark on the landscape of 19th-century America.

Frequently Asked Questions About Peter Cooper

What was Peter Cooper most famous for?

Peter Cooper is most famous for his diverse contributions as an industrialist, inventor, and philanthropist. Key achievements include designing and building the "Tom Thumb," America's first steam locomotive, and founding The Cooper Union for the Advancement of Science and Art, a groundbreaking institution providing free education.

What was the "Tom Thumb"?

The "Tom Thumb" was the first American-built steam locomotive, designed and constructed by Peter Cooper in 1830. Though initially an experimental prototype, it proved the viability of steam power for railroads in the United States, revolutionizing transportation.

What is The Cooper Union?

The Cooper Union for the Advancement of Science and Art is a prestigious and historic institution of higher education in New York City, founded by Peter Cooper in 1859. It was established with the revolutionary principle of providing free education in engineering, art, and architecture, a commitment it largely maintains today.

Why did Peter Cooper run for President?

Peter Cooper ran for President in 1876 as the Greenback Party's candidate because he was a strong advocate for monetary reform. He criticized the gold standard and the debt-based bank currency system, instead proposing that the government issue its own banknotes to foster economic stability and relieve financial burdens.

What was Peter Cooper's stance on monetary policy?

Peter Cooper was a staunch opponent of the gold standard and debt-based currency systems, particularly during the Gilded Age. He championed the issuance of government-backed paper money (often called "greenbacks") to provide a more flexible and controlled currency supply, which he believed would benefit the working class and stimulate the economy.

How old was Peter Cooper when he ran for President?

Peter Cooper was 85 years old when he was nominated as the Greenback Party's presidential candidate in 1876, making him the oldest person ever to be nominated for President of the United States.