CHAPTER IV.
TRIUMPHANT DEFEAT There are some defeats more triumphant than victories.
-- MONTAIGNE.
Following the incorporation of the city, Baltimore grew much as Chicago was destined to grow more than a century later; within less than thirty years, when Chicago was a tiny village, Baltimore had become the third city in the United States: a city of wealthy merchants engaged in an extensive foreign trade; for in those days there was an American merchant marine, and the swift, rakish Baltimore clippers were known the seven seas over.
The story of modern Baltimore is entirely unrelated to the city's early history.

It consists in a simple but inspiring record of regeneration springing from disaster.

It is the story of Chicago, of San Francisco, of Galveston, of Dayton, and of many a smaller town: a cataclysm, a few days of despair, a return of courage, and another beginning.
Imagine yourself being tucked into bed one night by your valet or your maid, as the case may be, calm in the feeling that all was secure: that your business was returning a handsome income, that your stocks and bonds were safe in the strong box, that the prosperity of your descendants was assured.

Then imagine ruin coming like lightning in the night.

In the morning you are poor.