Original subtitles

Four generations of one family.

Their lives and causes reveal 150 years of American history.

The patriarch is Charles Francis Adams, former minister to Great Britain, son

and grandson of presidents of the United States.

Two of his sons seek the family fulfillment in other than public

Henry as an historian and scholar.

Charles Francis II as a businessman and pioneer of the railroads.

The family portrait is an American tradition.

In 1886, the Adamses gather at the Quincy, Massachusetts family home to

it.

Very good.

Now, if I could just take one more plate.

All this fuss about a family portrait.

Mr. Adams, please.

That will be quite enough.

There'll be no more pictures to date.

Children, there'll be lemonade on the porch. We'll go back in the house,

Minnie.

This is one tribal ritual that I can do without.

Your trouble, John, has no sense of history.

Pity about father. Last year, he seemed much keener. We always got our wives

mixed up, even in his better days.

I have said something tactless.

It wouldn't be the first time.

Well, Brooks, tell me, how is your book coming?

Are you really interested?

Of course. Whatever any of us does reflects on the others positively or...

Negatively, as the case may be.

Forgive me, Henry, I was stupid.

Oh, it's not your fault.

Coming together like this, the whole family, I keep looking around for my

dearest Marion.

Must be very difficult for you.

But it's time now you put all that behind you. You have your own life to

I'm trying to.

During my trip to the East, I hope I shall be able to find something.

Some understanding.

I shouldn't count on it.

Frankly, there's only one prescription to cure tragedy.

Involvement.

You know, I've never been happier now that I'm involved with the Union

The decision -making, the responsibility, working with people.

It's more satisfying than I can describe.

I think it would be highly frustrating working for Jay Gould.

I don't work for Jay Gould.

Charles, you are president of the Union Pacific, but everyone knows the control

still lies with Gould. Oh, I'm not criticizing you.

All I'm saying is that there are problems with the involvement you

As for myself, I'd rather travel alone than feast with jackals.

You're the president of the Union Pacific, Charles. What more do you want?

Control, Fred.

I'm a figurehead and you and the rest of the board know it.

We're pleased to have you with us. We listen to all your ideas.

Yes, and you and Gould make all the final decisions. Gould because he is

unscrupulous and experienced and you because you are the major stockholder.

I hold no brief for Gould. I abhor both his tactics and goals.

Then why not get rid of him?

He's a powerful man.

With an odious reputation.

The U .P. is not a toy, Fred.

The future of this country lies with the real ones. The way they are developed

and utilized will have a tremendous influence on the destiny of this entire

nation. Charles, we are old friends. Please don't lecture me.

As an old friend, I'm asking for your backing.

The U .P. suffers because of Gould's identification with it. The reason I am

president reflects that.

The government insisted that your board accept me as a symbol of high

-mindedness and incorruptibility.

Well, I think the time has come.

You want my name, I want the game.

You're ready to resign if I don't side with you against Gould?

I cannot allow myself to be used any longer.

Fred, after we get rid of Gould and the Wall Street crowd, we'll bring the

company headquarters here to Boston. We'll stop it with our kind of people.

We'll obtain short -term financing from Kidder Peabody, a Boston firm. I tell

you, this will help us in our relationship with Washington.

We'll be able to get the kind of legislative help we need. If I say no,

really resign?

No, I enjoy my involvement with the U .P., but I thought I'd made a powerful

argument. Not to me, it doesn't. I know you too well. You don't give up very

easily.

Two summers ago, wasn't it?

I had you. Five loves, set point. I was serving. You were out of the match, but

you didn't think so.

Fred, have I your backing?

Yes.

Yes, you can count on my complete support.

Listen to what he calls us, Sidney.

men of few scruples and questionable motives.

That was quite a few years ago, Jay, and besides, he was writing about you, not

me. Oh, no. You're included here, too, by inference.

The speculators.

Well, let's get to it.

Let's face the Boston Brahmin.

Let Charles Francis Adams do his worst.

Ah, Mr. Adams, what a pleasure. Come in, come in.

Ah, Mr. Adams, come on in. Mr. Gould, very kind of you to see me so promptly.

your service, Mr. Adams. Would you mind if Mr. Dillon attended this meeting? He

is a director.

His presence could be valuable.

In all due deference to you, Mr. Dillon, I would prefer to see Mr. Gould alone.

Yes, certainly.

I quite understand. I trust that you're comfortable in New York, Mr. Adams?

Frankly, I prefer Boston.

Yes, we understand.

Gentlemen, excuse me.

We dine tomorrow, Sidney. As usual, Jay.

Wonderful character, Sidney. One of the best.

Mr. Gould, I want your resignation as a director of the Union Pacific.

You're a very direct man, Mr. Adams.

I don't believe in wasting time.

Neither do I.

You have F .L. Ames in your pocket, I understand.

Mr. Ames has decided to vote his holdings in any way I think best.

Well, that's another way of putting it.

So, you want me out of the way, huh?

Any particular reason?

Except that you think I'm an unscrupulous rascal, a speculator with

motives. Nothing personal, Mr. Gould? No, no, of course not.

You have major positions with other railroads.

These holdings may influence your attitude towards the Union Pacific.

an inherent conflict of interest here.

In addition, while Mr. Dillon was president, with your backing, the

into massive debt, which I am trying to wipe out. Enough, please.

You want my resignation?

You have the necessary votes. It's done. I resign.

Run the Union Pacific any way you want. I wish you the best of luck.

I assume you want Mr. Dillon out of the way, too.

He is identified with your interests.

Yes, but he's an old man.

He was once president.

As a courtesy, I think he might be retained.

Perhaps you're right.

Good. Mr.

Dillon will remain on the board, then. As you say, as a courtesy.

Very kind of you, Mr. Adams.

Well, seems our little business meeting is over then.

I'll be selling all my holdings very shortly.

But I'll be keeping my eye on you, just for old time's sake.

I'll be watching you.

And Union Pacific.

Molly! Molly, come here quickly, look!

Look at this rose.

Oh, it's lovely, Father. Lovely? It's more than that. It's unique. Look, see

these white tips?

There's nothing like it. I've crossed these two strains and come up with this.

Now, if this plant is hardy enough to survive all Massachusetts winters...

You'll cross it with another strain and produce still another variety.

Oh, I do love these roses.

And the rest of this place?

Hmm? Well, inordinately. Oh, of course not.

We all do.

You know... When I think about marrying and moving away from these lovely

gardens and the house and the fields, well, he'll have to be a wonderful man.

And so he shall be.

No one but the best for you.

Charles, John has come.

Already? Well, it's five o 'clock.

Well, I suppose I must see John.

Will they be staying for supper?

Hmm, who?

Oh, Mr. Crane is with him. Ah, well, John, yes, not Mr. Crane.

Fathers produced a unique variety.

Your father is a unique variety.

Vermont Quarry has an option on these two parcels of land here.

Quincy Stone is trying to add to their holdings and running along the eastern

section of the pit, they're already working.

This has to be stopped, Crane.

That's easier to say than to do, Mr. Adams.

You simply tell the selectmen that if Vermont Quarry moves in and Quincy Stone

expands, the town of Quincy will begin to look like some mining town out west

will be pitted and scarred. Charles, Mr.

Crane is on our side.

Then what is the problem?

The problem is that there is profit in Massachusetts Stone, Mr. Adams.

There is profit in highway robbery, Crane. This is a legitimate business,

Not when a beautiful town is desecrated.

Let business go to the wilderness. People live in Quincy.

Charles, there are people in Quincy who favor the expansion of the quarries. Who

favors this, John?

Which of the old families dare speak out for these interests?

The new people. The merchants, the laborers, the working people.

Business brings in money, jobs.

Crane, you are head of the town board.

You have the support of all the Adamses. John, Brooks, my father.

All the Adamses are behind you.

Beside us stand all the old families of Quincy.

Now, we expect you to see that the quality of life as we like it is

in Quincy. Yes, sir. I'll certainly do that, sir. Only... Only what?

I wanted you and your brother to know that that isn't easy.

Nothing worthwhile is easy.

Yes, sir.

Anything else?

No, sir.

I'll be going then.

Goodbye, Crane.

Goodbye, Mr. Adams.

Mr. Adams.

Mr. Crane.

The man is becoming foolish.

The town is becoming foolish, Charles. Twenty years ago, on the entire voting

list, there were 947 names. This year, there are over 2 ,500.

Well, we shall simply have to work all the harder.

You yourself should be doing more, John.

People like you. You should go out and talk to them. Push yourself forward

Charles, I pushed myself forward five times.

Five times I went to the people. Vote for me for governor. John Quincy Adams

My great -grandfather was president of the United States. So was my

My father was a respected representative from Massachusetts.

Five times I drew this to the attention of the people. And five times I lost the

election. And each time I received fewer votes than the previous time.

There's a message there, Charles.

Yes, the people are misguided.

Either that or the Adamses.

Well, thank goodness we don't elect railroad president by popular ballot.

Thank goodness.

It's a wonderful night, Red.

Good evening, David. That countryside out there?

They say the West is barren. It's as beautiful in places as the best parts of

Virginia.

Virginia.

I served there under General Meade.

I've heard about it, sir.

So you have. Thank you, David.

I tell you, Fred, there were times after the battle when the smoke had cleared.

Holcomb is waiting.

And we shall see him. Ask Mr. Holcomb to come in, please, David.

The Chicago editorial comments favorably on Gould's resignation from the Union

Pacific. That's helpful.

The question's Dillon's retention.

Dillon is marked as Gould's man.

I don't need revenge, Fred.

I could have forced Dillon off the board and crushed Gould completely.

He is an infernal scoundrel.

Ah, Holcomb.

Come in.

How do you do, sir?

You've met Mr. Adams?

I believe I've had that pleasure, sir.

At the Knickerbocker at New York.

On one of my infrequent visits to New York.

Something to drink?

Light whiskey?

You don't get any thought from that?

As little as possible.

I like the West. It's in my blood.

New York is too fast for me.

Mr.

Holcomb, I won't waste time.

I'm looking for a new vice president in charge of operations.

Thank you, Mr.

Adams. I'm not interested in the job. Well, I haven't offered it to you.

One of my Harvard classmates mentioned that you were doing rather well with one

of our smaller competitors, and I thought I might like to talk to you.

Look me over?

Look each other over.

Well, the way I see it, the Union Pacific has big problems.

Too many unprofitable branch lines.

You haven't tapped the big freight areas, the mining areas.

Colorado, Montana, Washington, Oregon.

You waste your money on corporate battles in New York and Pennsylvania

there's a whole country out here to serve.

I agree with you.

Well, you're a railroad man. You set up the Massachusetts Railway Commission.

You've written wisely about the rail industry for 20 years.

You know what the future of the railroads is on paper.

Well, put it into action with the Union Pacific and you will have success beyond

your dreams.

Nice to see you again, Mr. Adams.

Holcomb, wait a minute.

You're my new vice president in charge of operations.

Mr. Adams, I couldn't go back east again for all the money in the world.

You'll operate out of Omaha.

Omaha.

Too big a job for you, Mr. Holcomb?

Well, I hope not.

For both our sake, Mr. Adams.

It is with great pleasure that I observe the progress being made by the new

management of the Union Pacific.

Under the wise leadership of Charles Francis Adams II, the floating debt of

six million dollars has been completely paid off, and the Union Pacific returned

to fiscal responsibility.

We look forward to continuing progress on the part of the Union Pacific, and a

continuation of the constructive relationship between the railroad and

government.

Signed, George Frisbee Hoare.

United States Senator from Massachusetts.

Well, congratulations, Charles.

I move that this letter of commendation be made part of the minutes of this

meeting. Seconded.

Discussion?

None.

All in favor?

Aye. Very well. The letter from Senator Hoare shall be included in the minutes.

Any other discussion?

Before we move away from the letter, I'd like to express my gratitude for the

leadership shown.

I think I speak for everyone present when I say we hold you in the highest

esteem and hope to see you in that chair for many years to come.

You're here. I thank you. Any other business?

Then, gentlemen, this meeting is adjourned.

Congratulations, Mr. Adams. Thank you.

My pleasure, Charles.

Congratulations.

Very kind words. Thank you.

Congratulations, Mr. Adams.

Very comforting to know that the government's on our side for a change.

Well, we shall simply have to continue running a railroad that they can

Well, Charles, to coin a metaphor, you've put the U .P. back on the track.

And you had confidence in me, Fred.

It feels so good, finally, to be free of that short -term debt. And to know that

we have friends in Washington.

It's given me time to think.

Time to think about the future.

Shall we do it over lunch? No, no. Come over here. I have something I want you

to see.

What we have now is a good, modest, successful, respectable railroad.

One among many.

But with some minor changes, some acquisitions, building, the Union

could become a vast system of interconnecting branch lines, spreading

Boston throughout the East, through our Chicago terminus, through Kansas City

and Nebraska, with a center at Omaha, and another center at Salt Lake City,

covering the mining installations of the West, and developing vigorously

throughout western Idaho, Montana, and southeastern Oregon.

Well?

I'm hungry, Charles.

Fred! What do you think of my ideas?

You want to make an alliance with existing lines, most of which are

unprofitable. You want to build. What are you going to do for money? What

everyone else does for money, borrow.

We're in a good credit position now, Fred.

Because you just paid off the money the UP owed.

And because everyone has confidence in us. We can get good money, Fred. Boston

money. Kidder Peabody money.

This isn't speculation. We're not Jay Gould and the Wall Street crowd. This is

legitimate expansion.

fulfilling the natural destiny of the railroads.

I have my doubts about the prudence of it all.

Ah, prudence.

Prudence never won a victory.

If my great -grandfather had been prudent when he demanded end of British

on this continent, we'd still all be singing God Save the Queen.

Oh, when you start dragging your ancestors in, I know you're serious.

let's discuss this grandiose scheme, sharing a lobster.

Manny, listen to this.

This is a translation of a memorial found in the closet of the Caliph Abdur

Rahman. Who is the Caliph Abdur Rahman?

He's a very interesting Caliph. He's in Gibbon.

Don't you ever tire of Gibbon?

The most delightful of all books, never.

Listen.

I have now reigned above 50 years in victory and peace.

Dreaded by my enemies, beloved by my subjects, and respected by my allies.

Riches and honor, power and pleasure have waited on my call, nor does any

earthly blessing appear wanting in my felicity.

In this situation, I have carefully considered all the days of pure and

happiness which have fallen to my lot.

They amount to fourteen.

O man, place not thy confidence in things of this world.

14.

That many?

Many.

You have had more than 14, haven't you?

Of pure and genuine happiness.

I don't know, Charles. I've never counted. How about you? How many have

Oh, I don't know. We Adamses generally don't think about happiness. It's a bad

form.

But I think I have a taste for it.

You've given me a great deal of it.

14 days?

21 years.

Thank you.

Why did this caliph write in his closet?

Well, he had many wives.

It was the only place he could write in peace.

Charles, what a wonderful surprise.

You're looking healthy.

Massive doses of acid phosphate.

I was able even to enjoy an occasional cigar.

You're becoming quite the seafarer. Now, I have his book down in the Atlantic

and Pacific, and we'll join the Union Pacific at St. Joseph's. Please, no

Pacific talk just yet.

It's a promise I want to hear all about Japan, all the way to Quincy.

Oh, I'm not going to Quincy, Charles.

Yes, you are.

His father's dying.

Your sons are here to see you.

Hello, Father.

Who's that?

It's John, Father.

I'm here with Charles and Henry and Brooks.

You all should be in school.

Don't waste time here.

We're here to be with you, Father.

Tell Henry...

To copy out those letters.

I'll do that, Father.

Work and pray.

That's all that matters.

The rest is nothing.

Work and pray.

We do work hard, sir.

All of us work very hard.

Good.

Good.

Keep at it.

Work.

And pray.

I think you'd better leave now.

Anything left undone?

No, Charles.

Everything is done.

Crate, over here.

It's still going on.

Yes, sir.

This is a disgrace. How did it happen?

It's their land.

I tried to get the selectmen to stop them, sir, but I was outvoted.

I'm sorry about your...

Father, Mr. Adams.

Yes, well, I'm glad he didn't live to see this.

Quincy, the birthplace of his father and the birthplace of his grandfather,

gutted and disemboweled.

California has gold.

Montana has copper.

And Quincy has granite.

Crane, I can see this pit from my home, from President's Hill. If I see another

pit from President's Hill, you won't be in office much longer.

Sorry you feel that way, sir.

But the truth is, I don't need your backing anymore.

I've got my own plans now.

The people of this town have taken to me.

The working people and the merchants.

They'll keep me on the town board.

Good day to you, sir.

Crane, you've made a bad mistake.

You've forgotten who you are and who I am.

At the next town election, you'll remember, but it will be too late.

Mr. Adams, you don't know Sean O 'Hara who works in these pits, do you?

Well, sir, I know Sean O 'Hara.

His vote is as good as yours.

As you may see by the printed reports in front of you, the expansion of the

Union Pacific continues at a phenomenal pace.

And the outlook is, for the coming year, if I may say so, optimistic.

May I ask a question, Mr. Adams?

Mr. Dillon?

You say in your report that financing has been obtained.

That seems rather general.

Yes, sir.

I think that we should be told how much and from whom and at what interest.

It's quite complicated.

I was president this road, Frederick.

The money was obtained generally through kid of Peabody from the Baring Bank,

and through the sale of bond issues and the issue of notes, Barron notes.

At what interest?

Generally, 12%. That's quite high, isn't it?

Gentlemen, we're fortunate to find money at all these days.

How big is the debt at present, and how much does Union Pacific really owe?

That's very hard to say.

I was asking Mr. Adams.

Surely Mr. Adams can answer that simple question.

Cut from our regular financial channels, stocks, bonds, etc.

About three to four million dollars out on short -term notes.

Three or four million in short -term notes? Yes, gentlemen, you understand

is a private matter, not for the newspapers.

But four million dollars? Why, I'm shocked, Mr. Adams.

As I remember, you criticized my fiscal management when I incurred a similar

debt. Conditions were different.

We are building a national railroad system.

We are contributing to the commercial welfare of the entire nation.

We cannot allow this mission to be curtailed because we are too timid to

I have faith in the Union Pacific.

I've invested heavily in the Union Pacific, both personally and

any of you on this board questions my management, please do so now, in the

to hide.

Everything I've done has been for the public good.

For the benefit of... For the benefit...

I propose that we adjourn this meeting at this time. All those in favor?

Aye.

Adjourned.

the traffic returns are high.

As long as the gross receipts are substantial, we have nothing to worry

Charles, perhaps you should go away for a few weeks, a rest, a vacation.

No, no, no, no. I must be in Washington next week.

The government will help in our financing.

You're becoming obsessed with this damned railroad.

It cannot fail.

You know these old families, Sidney.

Sense of national responsibility, historical perspective.

Three generations of statesmen.

But he doesn't understand the business market. Things are tight and business is

bad. He keeps borrowing. Is that any way to run a railroad?

We'll see, we'll see.

Of course, he does have one thing that neither you nor I nor Fisk has.

What's that?

That name, Adams.

The Union Pacific is on its way to becoming something more than a railroad.

is practically a natural resource.

Now, if the Mississippi River were to dry up... Mr. Adams, you're forgetting

thing.

The Union Pacific is a business.

It's a profit -making enterprise with stockholders.

Senator, you initiated the plan by which I became president of the Union

Pacific.

I am there because of you and your committee.

Yes, and you've done a fine job.

I can send another letter to that effect. I don't need any more letters.

I need money.

Money.

Not much. A few million to tide us over.

I don't want to have to go to the banks and pay high interest.

I'm afraid I can't do that.

Appropriation for your railroad.

Where would it stop?

Standard Oil?

Carnegie Steel?

Senator.

You put me in there.

Yes, and I've got complete faith in you.

Do we want the town of Quincy to be known as a backwater?

As a stagnant pool which resists progress?

I say no.

Let's make sure.

that Quincy is as up -to -date as any town in Massachusetts.

Now, as to the resolution we are voting on tonight, fixing the hours and pay for

town laborers, I say it's fair and just.

Nine hours of work and two dollars for it.

Now, that may seem excessive to some of you gentlemen out there, but the days of

grinding down the working man have come to an end.

I thank you.

Anyone want to speak to the resolution?

If not, if I may.

My brother and I have worked very hard for Quincy.

We have one of the finest school systems in Massachusetts.

A library which is second to none.

And a park has been donated in the name of my family. Therefore, I speak with

love and affection for this place.

Now, as to this resolution, has any of you thought how much this will cost?

It will of course mean new taxes.

And who will be taxed? The property owners. Now, let me tell you this.

An increase in taxes upon the property owners will result in an exodus.

The old families will move from Quincy.

I am almost finished.

Passage of this resolution marks the beginning of the end of Quincy as you

know it.

The end of open spaces, old trees, country walks.

Very well, take your post.

There is no one else.

The vote is called for.

Now all those for the... resolution to limit the workers' days to nine hours

guarantee two dollars pay, hold up a hand.

All opposed?

You should have seen the hall this year, Minnie, full of young, vulgar, badly

dressed men of the hoodlum type. Oh, it wasn't that bad. Charles made a splendid

speech mourning the past.

You won't be smiling when your taxes go up, John.

But we're rich, Charles.

We're the ones who must pay for improvement.

As I remember it, Minnie, you were the first to complain when the telegraph

company devastated the wood road by Braintree Great Pond.

Of course I did.

Well, then.

Well, then what?

Charles feels you're being inconsistent.

Of course I am. I'm in Adams by marriage only.

Come to dinner next week.

Sorry, I'm going west.

Swing through some of our major centers.

Everything all right?

One must be a juggler to run a railroad.

Debt constantly in the air, one slip.

Good night, John.

Good night, Charles.

Minnie? No, no, no, no, no, no. I'll find my own way out.

You'll win next year, Charles.

I've attended my last town meeting, Minnie.

You're respected in this town, Charles.

But not like.

Anything else, Mr. Adams?

Uh, no, thank you, David.

Good night, sir.

Good night.

It's almost midnight, Charles.

We're doing Omaha at five.

We must go over these figures again.

Figures aren't going to change, Charles.

I can't understand what's happened.

It's a minor setback here and there that I could fathom, but the returns are

down everywhere. Look, look at these Pittsburgh figures. Chicago, Kansas

I've seen them.

Country's heading for a depression and we're feeling it first.

The economy is dying.

As soon as we get back to Boston, I'm going to replace all these local agents.

I've got to find men who can do the job.

Charles, that's not going to be your primary problem.

We're not picking up any surpluses on this way.

Oh, I'm sure Holcomb will have something for it. That man knows how to run a

first -class freight operation.

Charles, are you listening to me? Yes, Fred, yes, I'm listening.

Now.

With whatever Holcomb can give us, plus whatever we can pick up in Denver and

Salt Lake City, we're not in too much trouble. I mean, these figures are

disappointing, but by God, we're still in the game.

I don't understand this.

Complete figures, Mr. Adams.

Your traffic rate is high. You have enormous freight volume. How do you

this? Expenses, Mr. Adams.

I see expenses, Holcomb. Hundreds of thousands in expenses. What expenses?

Oh.

Yeah, new equipment.

Labor's gone up. It's too big for my stomach. Well, we had a flood.

Yeah, new tracks had to be laid.

A windstorm last month.

Mismanagement, Holcomb.

Mr. Adams, running a railroad is a risky business.

You dare tell me that? I think, Holcomb, you should leave us for the moment.

I did my best.

We had some setbacks.

Every penny is accounted for. Of course, sir. I can assure you, next year, we'll

be back.

Slappy guts.

Stupidity and ineptitude.

It's as bad as all the rest. I had such pain.

Why do they all fail me?

The fault, dear Brutus, is not in our star, but in ourselves.

No use going over the past.

We're facing a crisis, Charles.

Capital shrunk to nothing. Notes coming to. I will replace Holcomb.

He's a young man in Boston I've had my eye on. Good family. Charles, understand

something. There is no surplus in Omaha.

The Union Pacific faces bankruptcy.

You face a personal loss of millions.

We need a great deal of money to pull through.

We shall get it. Kidder Peabody will sell sterling to the Barings as usual,

we shall get our money. How much do we need?

At least $4 million for the short -term notes.

After that, I'll find new men.

Men of education and principle.

Ah, yes.

The Asiatic mystery you always speak of, Henry. Isn't it a little ludicrous to

continue to play Ulysses?

Completely. But I'm not running away anymore.

My plan is this.

Two years on the South Seas, and then on to China by way of India, tracing out

the route of Marco Polo.

Charles, do you remember the hopes and dreams we had for the future?

You envisioned an elite group of young men fashioned by education, tradition,

breeding, who'd be the leaders in all aspects of the nation.

Scientists, philosophers, statesmen, artists, planners and movers who would

for the profound good of all the people to bring to fruition the American dream.

It hasn't worked out.

Perhaps the models we place ourselves against are larger than life.

Charles, do you regret being in Adams?

Not for a minute.

Neither do I.

Right, Newton.

Right. I will. You too.

The loan will not be forthcoming.

But you just said they agreed.

Kidder Peabody agreed.

But Barings Bank is on the verge of bankruptcy.

Barings? Yes.

Some unfortunate losses in the Argentine.

The Barings are unable to buy sterling from Kidder Peabody at this time.

Therefore, Kidder Peabody regrets that it is unable to meet our requests.

Mr. Vanderbilt is in the south of France.

I cabled your request and received a reply this morning.

Regarding Adams and UP request for credit, inform Adams that economy

on principle will not undertake any financial obligations which reach beyond

Chicago. Therefore, must say no to Adams and UP.

I see.

When will Mr. Vanderbilt be back?

Not for several months, I'm afraid. Would you like me to cable again?

No, thank you.

Thank you very much.

Tired, Fred.

Very tired.

We're at the wall now.

There's one way to salvage something.

I know.

I want the word passed around.

Newspapers, gossip columns.

Jay Gould is buying.

The Gould interests have confidence in the market.

The securities exchange depends on public opinion, on emotion.

The people don't want to know the facts. They rely on you and me to make up

their minds for them.

Yes?

Mr. Adams is still waiting.

Still waiting, eh? How long?

Half an hour.

Is that long enough? That's up to you.

Seems long enough to me.

Any longer might be construed as a deliberate insult.

Show him in.

Half an hour.

I've been waiting for 20 years.

Would you mind, Sidney? Of course.

Mr. Adams.

Ah, Mr. Adams, come on in, come on in. Please, sit down, make yourself

comfortable. Thank you.

Would you like a cigar?

No, thank you.

Well, you're looking fit, extremely fit. Been sailing up on the Cape, I presume?

Not very much.

I guess you've been too busy traveling, huh?

As a matter of fact, I have, on behalf of the Union Pacific.

Omaha, Kansas City, Pittsburgh?

Yes. Tiring business, traveling.

And yet the sight of all those places never ceases to thrill me.

Oh, the great American West.

Denver, Butte, Salt Lake City. Each one different at each, filled with all that

energy. Unfortunately, I was less than thrilled on my last trip.

I found the Union Pacific in the throes of financial crisis.

Oh. Tell me about it, Mr. Adams.

I'm sure Mr. Dillon has told you about certain problems.

Yes, but I'd like to hear it all from you, firsthand, so to speak.

I can sum it up in two words, expansion and debt.

Expansion and debt.

Sounds like the chapter heading of some textbook on economics.

Under my presidency, the Union Pacific undertook a program of expansion which

produced a large floating debt.

Yes, and yet you always warned against high interest.

Short -term notes.

A large, unwieldy debt for railroads. I have your learned document here.

Yes, yes.

Practical considerations, however, forced me to act contrary to my

Well, never mind, Mr. Adams.

Happens to all of us. Happens to all of us.

Now, this floating debt you were talking about.

Sounds like some great sea monster, doesn't it?

This, uh... This floating debt, it's threatening the safety of the Union

Pacific. Is that it?

Millions of dollars of obligations are coming due shortly.

Due to the depressed economy, we have no surplus to meet these obligations.

Have you tried to get more credit?

I've been turned down by the banks, Morgan, Vanderbilt. How about the

government? I've been offered no further hope in Washington.

Ah, that's too bad.

I thought the old boys would rush in.

Old boys?

Yes, the Washington crowd, surely, with your family's reputation.

I have been offered no further hope in Washington.

So, now you've come to see Jay Gould.

What exactly for?

To save the Union Pacific.

Well, we neither one of us want to see the U .P. go down, do we? After all, we

both hold sizable investments in the company.

Mine is sizable. I do not know the exact extent of yours.

I hold some sizable notes, and I'm buying back my stock, which is why I'm

pleased that you came to ask me for help.

You see, I too have been concerned about the Union Pacific. In fact, I've been

keeping abreast of your credit problems, and I've taken the liberty of doing

something about it.

Would you like to hear what I've been doing? Yes.

Well, I've drawn up a plan, sir.

A plan whereby the major creditors of the company, including myself, would

postpone their demands.

Now, once this plan is put into effect, your current financial crisis will be

over.

You will, of course, wish to assume full responsibility for the carrying out of

this plan.

It is my plan, sir.

Very well.

Since you will be carrying the load, I will call a meeting of the board of

directors. As soon as possible.

And turn the company over to you.

Seems right, doesn't it? Under the circumstances, I could hardly remain as

president. No, Mr.

Dillon will be president. Mr.

Sage, another colleague of mine, will return to the board.

And you, of course.

Yes.

I will become a director again.

Is there anything else, Mr. Adams?

Anything else?

No. Oh, just a moment.

May I have the pleasure of showing you out?

Goodbye, Mr. Adams.

Goodbye, Mr. Gould.

Went out like a gentleman.

Bow, pass in the chips, and leave the table.

I'd have gone out kicking and screaming, but then I'm not an Adams.

And no matter how many railroads you control, you never will be.

I'll never be a dinosaur either.

How are you feeling today, Minnie?

Not the same.

Tell me what happened with Gould.

Well, I told him that I was no longer interested in running

a railroad.

That I wanted time to resume my own work, my writings, my commentaries,

my own investments, and have more time to spend with my beloved Minnie.

How did he... take that?

He was disappointed, of course.

But he reluctantly accepted my resignation.

I told him that I would be free for advice and consultation. He seemed

I think we've talked enough about Mr. Gould.

Ine.

What would you think of leaving Quincy?

Leaving Quincy?

Why?

Well, I have my eye on a house in Lincoln.

It's a beautiful orchard.

Now, it might take some time to prepare. It might not be practicable, but... Try

to give it some thought, hmm?

If it would make you happy, it would make me happy, too.

Well, Charles, are you quite recovered from our Union Pacific adventure?

I've had a long time to review the course of events. A fault lay in my

character. Your character's impeccable.

No, I lack combativeness.

Oh. I know, I know. I get into a fight easily enough, but being in it, I lack

desperate courage.

We are a family spawned in the 18th century, flowering in the 19th, and ill

-equipped to face the 20th. That sounds too literary for my taste.

The fact is, the Union Pacific was bound to fail.

It was a waterlogged craft. It remains waterlogged and will sink even with Jay

Gould at the helm.

Possibly.

But I have other concerns now.

Minnie remains in poor health.

My investments have gone sour.

My debts are mounting.

Minnie's health is beyond my power, but I can be of help with the debt.

Fred, three years ago, my net interest account was $52 ,000. Today, it is

$70 ,000.

I owe more than $2 million without sufficient property to cover it.

please stop the litany. Tell me, how much do you need? In addition, I have

purchased a house in Lincoln, and I don't know what President's Hill will

A figure, that's all.

Dollars. Tell me.

$900 ,000.

You shall have it.

$900 ,000.

If that's what you need, within the week.

Is that soon enough?

It's a miracle. How can I thank you?

The truth is, Charles,

You are a very good man who never really understood anything.

Put that down. You'll drop it.

Get another man to help you.

Yes, ma 'am.

Molly, there's priceless china in there, my man.

Yes, ma 'am.

What is it, Mother?

He's your father.

Just like a man to be off somewhere when you need him.

I must study politics and war, that my sons may have liberty to study

mathematics and philosophy.

My sons ought to study mathematics and philosophy, geography, natural history,

navigation, commerce, and agriculture, in order to give their children a right

to study painting, poetry, music, architecture, statuary, and porcelain.

There is no passion more deeply seeded in my bosom than the longing for

posterity, worthily to support my own and my father's name.

My desire has been that his name and possessions here should continue in his

and his descendants' name.

When I was young, I challenged the world for prizes which now I would not cross

the room to secure.

Oh,

you'd better wrap these with muslin. They're fragile.

Charles, where have you been?

Saying goodbye.

No, just a moment.

Charles, there are a hundred things to do today.

There are a hundred things to do every day.

When those were painted, we were starting out on a new life together.

Today we start out on another new life.

We must have a picture.

Charles, we don't have... Would you be kind enough to take our picture? We'll

pose right here. Molly?

Oh, Father, this is silly.

Charles, what is the matter?

Shh. Quiet now.

Don't move.

After two centuries, the Adamses leave Quincy.

One, two, three, snap.

Six generations have passed since John Adams' plan for his descendants' future.

Yet politics and war are still America's major preoccupations.

Our institutions seem no closer to solving the great questions of human

especially human conduct in positions of power.

History may be our best guide.

The methods employed, the success or failure of those methods, The

and triumphs of the Adamses show us the past face to face.

Now the play belongs to us.

In this act, we are all the players.