I had saved up $700 or $800, but where to get the rest was a problem.
I talked the matter over with my father, who told me that he had always intended to give $1,000 to each of his children when they reached twenty-one.

He said that if I wished to receive my share at once, instead of waiting, he would advance it to me and I could pay interest upon the sum until I was twenty-one.
"But, John," he added, "the rate is ten." At that time, 10 per cent.

a year interest was a very common rate for such loans.

At the banks the rate might not have been quite so high; but of course the financial institutions could not supply all the demands, so there was much private borrowing at high figures.

As I needed this money for the partnership, I gladly accepted my father's offer, and so began business as the junior partner of the new firm, which was called Clark & Rockefeller.
It was a great thing to be my own employer.