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A Disposition to Be Rich: How a Small-Town Pastor's Son Ruined an American President, Brought on a Wall Street Crash, and Made Himself the Best-Hated Man in the United States
Ferdinand Ward was the greatest swindler of the Gilded Age. Through his unapologetic villainy, he bankrupted Ulysses S. Grant and ran roughshod over the entire world of finance. Now, his compelling, behind-the-scenes story is told—told by his great-grandson, award-winning historian Geoffrey C. Ward.
Ward was the Bernie Madoff of his day, a supposed genius at making big money fast on Wall Street who turned out to have been running a giant pyramid scheme—one that ultimately collapsed in one of the greatest financial scandals in American history. The son of a Protestant missionary and small-town pastor with secrets of his own to keep, Ward came to New York at twenty-one and in less than a decade, armed with charm, energy, and a total lack of conscience, made himself the business partner of the former president of the United States and was widely hailed as the “Young Napoleon of Finance.” In truth, he turned out to be a complete fraud, his entire life marked by dishonesty, cowardice, and contempt for anything but his own interests.
Drawing from thousands of family documents never before examined, Geoffrey C. Ward traces his great-grandfather’s rapid rise to riches and fame and his even more dizzying fall from grace. There are mistresses and mansions along the way; fast horses and crooked bankers and corrupt New York officials; courtroom confrontations and six years in Sing Sing; and Ferdinand’s desperate scheme to kidnap his own son to get his hands on the estate his late wife had left the boy. Here is a great story about a classic American con artist, told with boundless charm and dry wit by one of our finest historians.
Ward was the Bernie Madoff of his day, a supposed genius at making big money fast on Wall Street who turned out to have been running a giant pyramid scheme—one that ultimately collapsed in one of the greatest financial scandals in American history. The son of a Protestant missionary and small-town pastor with secrets of his own to keep, Ward came to New York at twenty-one and in less than a decade, armed with charm, energy, and a total lack of conscience, made himself the business partner of the former president of the United States and was widely hailed as the “Young Napoleon of Finance.” In truth, he turned out to be a complete fraud, his entire life marked by dishonesty, cowardice, and contempt for anything but his own interests.
Drawing from thousands of family documents never before examined, Geoffrey C. Ward traces his great-grandfather’s rapid rise to riches and fame and his even more dizzying fall from grace. There are mistresses and mansions along the way; fast horses and crooked bankers and corrupt New York officials; courtroom confrontations and six years in Sing Sing; and Ferdinand’s desperate scheme to kidnap his own son to get his hands on the estate his late wife had left the boy. Here is a great story about a classic American con artist, told with boundless charm and dry wit by one of our finest historians.
432 pages, Hardcover
First published January 1, 2012
68 people are currently reading
613 people want to read
About the author
Geoffrey C. Ward
113 books138 followersGeoffrey Champion Ward is an author and screenwriter of various documentary presentations of American history. He graduated from Oberlin College in 1962.
He was an editor of American Heritage magazine early in his career. He wrote the television mini-series The Civil War with its director Ken Burns and has collaborated with Burns on every documentary he has made since, including Jazz and Baseball. This work won him five Emmy Awards. The most recent Burns/Ward collaboration, The War, premiered on PBS in September 2007. In addition he co-wrote The West, of which Ken Burns was an executive producer, with fellow historian Dayton Duncan.
He was an editor of American Heritage magazine early in his career. He wrote the television mini-series The Civil War with its director Ken Burns and has collaborated with Burns on every documentary he has made since, including Jazz and Baseball. This work won him five Emmy Awards. The most recent Burns/Ward collaboration, The War, premiered on PBS in September 2007. In addition he co-wrote The West, of which Ken Burns was an executive producer, with fellow historian Dayton Duncan.
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Displaying 1 - 30 of 58 reviews
July 30, 2012
Geoffrey C. Ward, a well-renowned historian, (especially regarding the work he has completed with Ken Burns), painstakingly pieced together a magnificent retelling of his infamous great-grandpa, Ferd Ward. Ferd was a sociopath who would stop at nothing to cheat folks out of their money--even an ex-President/war hero U.S. Grant and his own flesh-n-blood son, Clarence! It is a wild ride to read this story, to say the least! I enjoyed how G.C. Ward started out by telling the tale of Ferd's parents and siblings--it really shed light on a lot of threads that could connect to create Ferd's personality.
It takes a brave person to shake out those skeletons in the closet and reveal them for all to witness. Not that Ferd was unknown for his financial infidelities in his day, but he is not a usual figure within the history textbooks.
I was dumbfounded and fascinated by this book. The research and detail was wonderful. I would reccommend this book to not only history buffs, but to those who are curious about human nature in general, and the ??WHY??? behind how some people are driven to do the things they do.
It takes a brave person to shake out those skeletons in the closet and reveal them for all to witness. Not that Ferd was unknown for his financial infidelities in his day, but he is not a usual figure within the history textbooks.
I was dumbfounded and fascinated by this book. The research and detail was wonderful. I would reccommend this book to not only history buffs, but to those who are curious about human nature in general, and the ??WHY??? behind how some people are driven to do the things they do.
February 6, 2013
The subtitle of the book, which is a bit of a run on sentence, is like the executive summary for the book: How a Small-Town Pastor's Son Ruined an American President, Brought on a Wall Street Crash, and Made Himself the Best-Hated Man in the United States. I can’t speak to the ‘best-hated man’ part, but the rest of it is not an exaggeration.
The book is about the life of Ferdinand Ward, and it was written by his great grandson, so there was excellent access to family records, as well as to people who knew the man himself. The book contains the usual stuff of biographies—an examination of the background and family that might have adversely influenced a man who grew up to be a successful con man and a sociopath to the end.
Whether or not Ferd had the makings of a man who wrecked havoc before the Civil War, the events of the war did nothing to improve his character. In 1863, the young Ferdinand Ward was alone with his mother in their parsonage in Geneseo, N.Y., his minister father and older brother both off to war and his older sister visiting relatives out of town. Diphtheria swept through the village, killing friends and neighbors, and each mail delivery carried the risk of disaster. Ferd was exposed to the quixotic nature of death, and that life contains no guarantees. And his mother didn’t help any. She had a religious zealot's dour view of the secular world and of the wages of sin. Hers was not a reassuring presence during those fearful days, and under her tutelage, young Ferd absorbed a lesson that would mark the sweep of his adult life: "No one should expect virtue, no matter how conspicuous, ever to be rewarded in this world."
That, combined with a narcissism that was truly impressive, became the calling card of his life. He deserved what he could beg, borrow, and steal from people. He married well, parlayed his wife’s money and standing into an investment firm, an associated bank, and the influence of Ulysses S. Grant, the ex-President and Civil War hero. After the whole scam goes down the tubes, the Grant families lose everything. Ulysses lives in a house that he no longer owns, and occupies through the kindness of the new owner. His sons both lose their homes. Ferd, showing no remorse, starts to go after what money is left of his wife’s estate, which she has wisely tied up in the hands of others. It is in some ways the tale of the classic con man. But in others, it is a reminder that we want to belief what is too good to be true, and that the greed of man is infinite. Our most recent brush with disaster was at the hands of men like Ferd, men who took everything they could get and had absolutely no regard for others. These sorts of men are alive and well.
As Shakespeare so aptly put it, hell is empty, all the devils’ are here.
The book is about the life of Ferdinand Ward, and it was written by his great grandson, so there was excellent access to family records, as well as to people who knew the man himself. The book contains the usual stuff of biographies—an examination of the background and family that might have adversely influenced a man who grew up to be a successful con man and a sociopath to the end.
Whether or not Ferd had the makings of a man who wrecked havoc before the Civil War, the events of the war did nothing to improve his character. In 1863, the young Ferdinand Ward was alone with his mother in their parsonage in Geneseo, N.Y., his minister father and older brother both off to war and his older sister visiting relatives out of town. Diphtheria swept through the village, killing friends and neighbors, and each mail delivery carried the risk of disaster. Ferd was exposed to the quixotic nature of death, and that life contains no guarantees. And his mother didn’t help any. She had a religious zealot's dour view of the secular world and of the wages of sin. Hers was not a reassuring presence during those fearful days, and under her tutelage, young Ferd absorbed a lesson that would mark the sweep of his adult life: "No one should expect virtue, no matter how conspicuous, ever to be rewarded in this world."
That, combined with a narcissism that was truly impressive, became the calling card of his life. He deserved what he could beg, borrow, and steal from people. He married well, parlayed his wife’s money and standing into an investment firm, an associated bank, and the influence of Ulysses S. Grant, the ex-President and Civil War hero. After the whole scam goes down the tubes, the Grant families lose everything. Ulysses lives in a house that he no longer owns, and occupies through the kindness of the new owner. His sons both lose their homes. Ferd, showing no remorse, starts to go after what money is left of his wife’s estate, which she has wisely tied up in the hands of others. It is in some ways the tale of the classic con man. But in others, it is a reminder that we want to belief what is too good to be true, and that the greed of man is infinite. Our most recent brush with disaster was at the hands of men like Ferd, men who took everything they could get and had absolutely no regard for others. These sorts of men are alive and well.
As Shakespeare so aptly put it, hell is empty, all the devils’ are here.
December 29, 2012
Author Geoffrey Ward tells the reader from the start:"Ferdinand Ward was my great-grandfather". Usually books written about a forbear salute their great accomplishments. This is the only biography I know of, where the forbear is a scoundrel. These stories are usually left to someone else.
Many biographies begin with the subject's childhood. This one begins with the lives of the subject's parents (i.e. the author's great-great-grandparents) and something of their parents. This is significant because it builds on the author's introductory comment that Ferdinand Ward "tuned out eerily to mirror the distorted personalities of the missionary parents who raised him."
The subject's parents, Ferdinand Ward, Sr., and his wife Jane Shaw Ward, were insufferably self-righteous. While you might expect missionary life to be a perfect fit for their piety, it wasn't. While in India, the Wards continued to seek better housing than their peers. They tried to pick and choose their assignments. They shunned people for very petty reasons. They seemed to have no regard for the feelings or contributions of others. Back in the States, Ferdinand Ward, Sr. caused trouble wherever he went.
It is Jane Shaw Ward who gives the book its title. She says this of her son in one of her supremely out of touch letters. Jane Ward had a curious relationship with wealth. She inherited some (it doesn't say where it went - maybe bailing out her son - maybe it was preserved) which she hid from her husband's congregation. Her letters show not just dissatisfaction with her situation, but self-pitying envy of the life styles she attributes to others.
Perhaps it is because Ferdinand Ward, Sr. was shunned by his family for going to India instead of leading a church parish that his father preferred, that he continued to defend his own son whose life had little to do with the values he preached.
The reader benefits from the author's unique access to primary sources: his grandfather, Clarence Ward, who was kidnapped and hounded by his father for the small wealth his mother was able to shield on his behalf and a trunk that held significant documents regarding Geoffrey Ward's great-grandfather's dealings.
The Ferdinand Ward scandal is fascinating on its own, but the family context makes this book stand out. It may set a new standard for biographies because it demonstrates how generational linkage can be portrayed. I highly recommend this to general readers of history and biography.
Comment
Many biographies begin with the subject's childhood. This one begins with the lives of the subject's parents (i.e. the author's great-great-grandparents) and something of their parents. This is significant because it builds on the author's introductory comment that Ferdinand Ward "tuned out eerily to mirror the distorted personalities of the missionary parents who raised him."
The subject's parents, Ferdinand Ward, Sr., and his wife Jane Shaw Ward, were insufferably self-righteous. While you might expect missionary life to be a perfect fit for their piety, it wasn't. While in India, the Wards continued to seek better housing than their peers. They tried to pick and choose their assignments. They shunned people for very petty reasons. They seemed to have no regard for the feelings or contributions of others. Back in the States, Ferdinand Ward, Sr. caused trouble wherever he went.
It is Jane Shaw Ward who gives the book its title. She says this of her son in one of her supremely out of touch letters. Jane Ward had a curious relationship with wealth. She inherited some (it doesn't say where it went - maybe bailing out her son - maybe it was preserved) which she hid from her husband's congregation. Her letters show not just dissatisfaction with her situation, but self-pitying envy of the life styles she attributes to others.
Perhaps it is because Ferdinand Ward, Sr. was shunned by his family for going to India instead of leading a church parish that his father preferred, that he continued to defend his own son whose life had little to do with the values he preached.
The reader benefits from the author's unique access to primary sources: his grandfather, Clarence Ward, who was kidnapped and hounded by his father for the small wealth his mother was able to shield on his behalf and a trunk that held significant documents regarding Geoffrey Ward's great-grandfather's dealings.
The Ferdinand Ward scandal is fascinating on its own, but the family context makes this book stand out. It may set a new standard for biographies because it demonstrates how generational linkage can be portrayed. I highly recommend this to general readers of history and biography.
Comment
July 29, 2012
Author Ward mines his own family for a fascinating story; it seems one of his ancestors was rather similar to Bernie Madoff.
It makes on wonder about geneology - perhaps one might not want to know such things about ones ancestors.
But, an excellent and long book. If you get tired of it, don't put it down without reading the last surprising chapter.
It makes on wonder about geneology - perhaps one might not want to know such things about ones ancestors.
But, an excellent and long book. If you get tired of it, don't put it down without reading the last surprising chapter.
June 10, 2012
Did we really need to find out about the author's missionary ancesots? Their tales could be edited out to focus on the main character.
Read
May 12, 2025Biography/non-fiction. The author discovered that his great-grandfather had an infamous past and wrote a book about it. There are lots of primary sources referenced and he filled in the gaps only when he had to - and with supporting documents to make his guesses logical. This was a SLOG to listen to. Sometimes I'm totally into the life story of a person I've never heard of and other times (this time), I cannot get myself to care. The author read the audio book and he does a decent job, but it felt like listening to a textbook.
February 17, 2013
This is a phenomenally interesting read which is part biography, part character study, and part period piece of the US in the mid to late 1800s from the point of view of both a regular-ish family and rich New Yorkers on Wall Street.
The book tells the story of Ferdinand Ward who was the late 19th Century's Bernie Madoff, but not only did Ward bilk investors out of millions, he also somehow snookered former President Ulysses S. Grant in to being his business partner. So it's like if Bernie Madoff had gone in to business with Bill Clinton and used him to both help raise more money and to give his investing the air of legitimacy.
A really fascinating read, especially the realization that Wall Street hasn't changed one bit in over 120 years. People were just as greedy back then, looked for just as many get rich quick schemes, and suffered from the same incredible hubris that eventually led to their downfalls. The similarities with today are striking.
The story is rich (pun intended) and the writing is lively enough that it reads like fiction.
And what makes it all the more interesting is that the book was written by Ferdinand's great grandson who had access to source documents and materials beyond what anyone else would have had.
Highly recommended.
The book tells the story of Ferdinand Ward who was the late 19th Century's Bernie Madoff, but not only did Ward bilk investors out of millions, he also somehow snookered former President Ulysses S. Grant in to being his business partner. So it's like if Bernie Madoff had gone in to business with Bill Clinton and used him to both help raise more money and to give his investing the air of legitimacy.
A really fascinating read, especially the realization that Wall Street hasn't changed one bit in over 120 years. People were just as greedy back then, looked for just as many get rich quick schemes, and suffered from the same incredible hubris that eventually led to their downfalls. The similarities with today are striking.
The story is rich (pun intended) and the writing is lively enough that it reads like fiction.
And what makes it all the more interesting is that the book was written by Ferdinand's great grandson who had access to source documents and materials beyond what anyone else would have had.
Highly recommended.
August 17, 2012
Just an excellent tale of woe in the victorian age. I thought the author (great grandson of the subject) was very objective and minimized any opinions that the current generations of Wards had. I tried to imagine my g-grandfather as a well known crook. A very interesting possition. The book gives few details of the end of Ferd's life. I would have liked to see the entire picture. Also absent was over enthusiast on all the potential openings for psycho analysis. I think that is the sign of a great piece of work. Let it speak for itself.
August 13, 2012
I really enjoyed this book. I learned so much about history and I was fascinated with the lives of all those involved. Couldn't believe how loyal the Ward family was to their son/brother. People are crazy and some things never change. There's nothing new under the sun when it comes to deception and power. Different era, same problems today!
October 6, 2012
An engrossing read; a truly amazing story. Academics might not find it analytical enough, but everyone else will just find themselves mesmerized by a tale that involves some of the biggest names in the Gilded Age, including President Grant. And, importantly, the book shows how pyramid schemes have been part of American life for longer than many realize.
May 23, 2012
I really enjoyed this book.
February 17, 2018
What kind of power do you need to charm scores of people into giving up the equivalent of millions of dollars? What kind of lies would you have to tell to trick so many people and dupe a famous writer and a former president? To answer that, you need to look at the life of Ferdinand Ward, the small-town preacher’s kid who swindled in grand style, even bringing down Wall Street.
One of the things that makes this book most interesting is that it is written by the great-grandson of the man who bankrupted a former president and probably hastened that president’s death.
As you read this, you’ll see it coming. Ward grew up in a hyper-religious home with parents who were strict and in many ways distant and disconnected. That said, the family constantly bailed Ward out of financial trouble as he grew up. But the guy was a pathological liar. He created a pyramid scheme that involved imaginary government contracts that seemed attractive to other investors since former President Grant’s name was associated with the company.
But it all fell apart, as pyramid schemes will do, and a true American hero raced against time to pay off his bankruptcy bills and at least attempt to regain some of his honor and leave his wife in a situation where she wouldn’t starve after his death.
Ward, on the other hand, lands only six years in prison. I was astounded at the light nature of his punishment. Granted, he lost all his personal holdings and his wife died while he was in prison, but he didn’t seem to care for her anyway, since he had squandered her inheritance. He cared only for the son she bore him because the boy became the beneficiary of what was left of her inheritance. So twisted is this guy that he at one point kidnaps his son in a failed attempt to claim the inheritance.
This is the story of a sick twisted individual whose narcissism is eclipsed only by his ability to lie and cheat those in whom he gained trust. You will be both infuriated and fascinated as you read about Ferdinand Ward’s behavior.
One of the things that makes this book most interesting is that it is written by the great-grandson of the man who bankrupted a former president and probably hastened that president’s death.
As you read this, you’ll see it coming. Ward grew up in a hyper-religious home with parents who were strict and in many ways distant and disconnected. That said, the family constantly bailed Ward out of financial trouble as he grew up. But the guy was a pathological liar. He created a pyramid scheme that involved imaginary government contracts that seemed attractive to other investors since former President Grant’s name was associated with the company.
But it all fell apart, as pyramid schemes will do, and a true American hero raced against time to pay off his bankruptcy bills and at least attempt to regain some of his honor and leave his wife in a situation where she wouldn’t starve after his death.
Ward, on the other hand, lands only six years in prison. I was astounded at the light nature of his punishment. Granted, he lost all his personal holdings and his wife died while he was in prison, but he didn’t seem to care for her anyway, since he had squandered her inheritance. He cared only for the son she bore him because the boy became the beneficiary of what was left of her inheritance. So twisted is this guy that he at one point kidnaps his son in a failed attempt to claim the inheritance.
This is the story of a sick twisted individual whose narcissism is eclipsed only by his ability to lie and cheat those in whom he gained trust. You will be both infuriated and fascinated as you read about Ferdinand Ward’s behavior.
January 13, 2023
Is it ever so?
Subject to minimal financial regulation and exploiting the modest communication tools of the day, Ferdinand Ward swindled an A-list of reconciliation era notables of their savings. The star victim of Ward's Ponzi scheme was a former President, the General U.S. Grant. Equal does of charm and brazenness helped lubricate the endeavor, but it was hardly sophisticated. Poor financial reporting and the inability to validate business actions in a timely manner allowed Ward to kite investments for a few years until the house of cards fell.
He was a loathsome character. It is interesting how people like Ward and Trump maintain support even when exposed. The key is to never admit fault no matter how apparent.
Arguably, regulation, financial reporting standards and swifter measures to authenticate transactions only make the world more complex and difficult to navigate for less sophisticated players. Time and wisdom are always finite. The same slick business is always in the news. Even the most modest efforts of supervision, the requirement for tax audits of sitting US presidents, for example, are easily skirted by those with power and influence.
Ward spent more than 6 years in Sing Sing - a harsh verdict on his crimes. This cruel reprimand served little purpose. Penal measures are designed to fulfill some bizarre concept of justice, and did nothing in Ward's case to achieve any change in disposition.
The book is an interesting family history that explains Ward's upbringing and his Impact on those closest to him. These features, more than details of financial crimes, move the story along and give it colour.
Subject to minimal financial regulation and exploiting the modest communication tools of the day, Ferdinand Ward swindled an A-list of reconciliation era notables of their savings. The star victim of Ward's Ponzi scheme was a former President, the General U.S. Grant. Equal does of charm and brazenness helped lubricate the endeavor, but it was hardly sophisticated. Poor financial reporting and the inability to validate business actions in a timely manner allowed Ward to kite investments for a few years until the house of cards fell.
He was a loathsome character. It is interesting how people like Ward and Trump maintain support even when exposed. The key is to never admit fault no matter how apparent.
Arguably, regulation, financial reporting standards and swifter measures to authenticate transactions only make the world more complex and difficult to navigate for less sophisticated players. Time and wisdom are always finite. The same slick business is always in the news. Even the most modest efforts of supervision, the requirement for tax audits of sitting US presidents, for example, are easily skirted by those with power and influence.
Ward spent more than 6 years in Sing Sing - a harsh verdict on his crimes. This cruel reprimand served little purpose. Penal measures are designed to fulfill some bizarre concept of justice, and did nothing in Ward's case to achieve any change in disposition.
The book is an interesting family history that explains Ward's upbringing and his Impact on those closest to him. These features, more than details of financial crimes, move the story along and give it colour.
June 15, 2020
Occasionally when I finish a book I want to write to the author to congratulate him/her on a job well done. That was the case with "A Disposition to Be Rich." It is such an intensely personal book. Geoffery Ward, well-known author of PBS companion volumes and biographies, tells the story of his great grandfather, Ferdinand Ward. Ferd, as he was called, was a swindler and a con-man and an all around bad guy. He is best-known for having bankrupted former Civil War general and president Ulysses Grant. Mr. Ward goes into great detail about the Ward family, which helps the reader understand why Ferd became Ferd. The book is extremely well researched, using many family papers and other primary sources. It is well written and moves along like a fast paced thriller as the reader follows Ferd from catastrophe to catastrophe. Highly recommended.
June 9, 2019
An enjoyable account of one of America's virtually-unknown figures who influenced the financial well-being of several of his prominent contemporaries, including former President U.S. Grant and his family. Written by his great-great-grandson and meticulously researched using family letters and other private correspondence, the story of Ferdinand Ward as the Gilded Age's version of Bernie Madoff reads like a good novel but is rooted in actual, yet sometimes unbelievable, truth. In addition to being a fun and smoothly-flowing read, it also underscores the audacity of the con man and the gullibility of seemingly knowledgeable and sophisticated people, characteristics that existed long before the more publicized events since the turn of the 20th century.
February 19, 2021
This is a beautifully written and well researched account of the life of Ferdinand Ward, considered to be the greatest swindler of the 19th Century. The author, Geoffrey Ward, is the great grandson of this scoundrel. Ferdinand Ward was the son of a Presbyterian pastor, whose parents were at one time missionaries in India. He was a complete narcissist and a man without a conscience. He came to New York at the age of 21, and in less than 10 years he brought multiple investors, including famed Civil War general and U.S. President Ulysses S. Grant, to utter ruin through running a colossal pyramid scheme. That so many people were duped by this conman is one of the mysteries of human nature; people are too willing to believe a smooth talking trickster who promises them quick riches.
October 21, 2017
Geoffrey ward great grandson of Ferdinand ward is the author of this great book and he also does stuff with Ken burns on pbs. Ferdinand ward is just a sociopath of epic proportions in this book from James fish to will and Sarah and to his son Clarence it was all about Ferdinand and how poor he was all the time after the Grant and ward collapsed. The author tells you in his book that Ferdinand was no good rotten guy. " before Bernard Madoff ... There was Ferdinand ward... A beguiling reminder that human nature doesn't change much from one gilded age to another " the wall street journal and that is true in this book the greatest con artist of all time.
February 9, 2024
As others have said reviewing this book, it's almost ruined by the first third of the book detailing the story of Ferd's parents. Them going to India is recounted in detail but it's boring and not at all related to the story that the reader was expecting when they picked up the book. It makes you wonder if the publisher paid the author by the word, not just by him producing a book about the stated subject of the fraud committed by Grant & Brown. That part is interesting and well researched, but there's way too much extra content that makes the book drag on and on and....
September 7, 2017
A sad story of deceit
This is a fascinating story of a relatively smart person who lacked the confidence that on his own in an honest pursuit of an honest career was beyond his ability to survive as a middle class person.. He for some reason felt that without immerse riches his family would reject him as having any value.. Indeed, his family was self centered and without values that they could pass along to him.
This is a fascinating story of a relatively smart person who lacked the confidence that on his own in an honest pursuit of an honest career was beyond his ability to survive as a middle class person.. He for some reason felt that without immerse riches his family would reject him as having any value.. Indeed, his family was self centered and without values that they could pass along to him.
July 27, 2018
It may seem strange to say but this book gave an interesting insight into human nature, even my own. Though I knew when Ferdinand was quoted he was lying about information he supposedly had, the audacity of them caused me to wonder for a second if he might have had. However, that is the power of someone who has no conscience over those who do, we can't imagine doing anything like that (unless you're watching politics a lot).
February 21, 2023
An interesting book. It’s the story of the original Bernie Madoff, a guy who figured out that if he paid fantastic returns he people would throw money at him without really looking at what he was doing. His claim to fame was that he bankrupted former President Grant shortly before Grant died. I felt it took too long delving into the main character’s family background but once it got going it was an engrossing read.
January 18, 2018
Interesting social history. Due to Ron Chernow's new book, General Grant has become a focus of interest. While another member of my family is reading that book, I decided to mark my time by reading this one, made all the more interesting by the fact that the author is the great grandson of Ferd Ward.
May 6, 2020
A thoroughly engrossing tale of a sociopath in the Victorian era, a saga of financial chicanery that held my interest throughout.
If you ever doubted that there is a sucker born every minute, and if it looks too good to be true it isn’t, read this book and discover how basic human greed and a willingness to believe what is unbelievable could lead to so much misery and financial ruin.
If you ever doubted that there is a sucker born every minute, and if it looks too good to be true it isn’t, read this book and discover how basic human greed and a willingness to believe what is unbelievable could lead to so much misery and financial ruin.
February 3, 2024
This book was written by the great grandson of a 19th century Bernie Madoff. He had quite a Ponzi scheme going and his mother was definitely a BOY MOM, at least where Ferd was concerned. He was a swindler extraordinaire who kept at it even after being released from prison.
The author had many personal letters and documents so it was very well documented.
The author had many personal letters and documents so it was very well documented.
September 14, 2018
Bernie Madoff forefather
September 23, 2023
Very good, very frustrating, Narrator was excellent.
March 10, 2013
Ferdinand Ward ran a "Ponzi Scheme" on Wall Street in the early 1880's, when Charles Ponzi himself was still just an infant. He ruined many investors including the former President U.S. Grant.
Presidents did not get pensions in those days. Grant had given up his military career and its pension to go into politics. He was given a gift (about $4,000,000 in today's money) by a group of Wall Street admirers. This was intended to keep him comfortable for the rest of his life. Grant lost nearly all of it in the financial collapse of Ward's investments. Ward almost effortlessly stole money from his own family and friends to fuel his schemes.
He was born and raised in a Missionary family who had spent time in India. Both his parents had excused his early signs of deceit. He was never held accountable. Whenever he was caught he would shamelessly pass the blame to someone else. His mother thought he suffered from "a disposition to be rich", but believed that once he became a true Christian he would change his behavior. He never did either. He stumbled into a job in a Wall Street bank that allowed the full scope of his manipulative skills free expression. His financial scheme lasted 3 years before it collapsed.
After he was convicted and sent to prison for ten years (he served only six) he continued to cadge money from his family to bribe his jailors for favors. Prison had some privileges if you could pay for them.
His 8-year-old son was living with relatives when Ward was released from prison in 1892. His son had inherited the only money left in the family and Ward was determined to get his hands on both.
Ultimately, he tried to kidnap his own son. This lunacy ended up in a very theatrical horse and buggy chase across state lines. [There was no Federal Law against kidnapping until the Lindberg case 40 years later.] But, Ward went home alone.
Ferdinand Ward died in 1925 at age 74 without ever making even the smallest admission of fault on his part.
The author is Ward's own great grandson, Geoffrey Ward, who has often collaborated with Ken Burns on his historic television documentaries. This book doesn't have the scope of a Ken Burns' work but it is an entertaining tale of a 19th Century Barnard Madoff.[Mark Twain makes an appearance! Twain lost money on other investments but not this one.]
Presidents did not get pensions in those days. Grant had given up his military career and its pension to go into politics. He was given a gift (about $4,000,000 in today's money) by a group of Wall Street admirers. This was intended to keep him comfortable for the rest of his life. Grant lost nearly all of it in the financial collapse of Ward's investments. Ward almost effortlessly stole money from his own family and friends to fuel his schemes.
He was born and raised in a Missionary family who had spent time in India. Both his parents had excused his early signs of deceit. He was never held accountable. Whenever he was caught he would shamelessly pass the blame to someone else. His mother thought he suffered from "a disposition to be rich", but believed that once he became a true Christian he would change his behavior. He never did either. He stumbled into a job in a Wall Street bank that allowed the full scope of his manipulative skills free expression. His financial scheme lasted 3 years before it collapsed.
After he was convicted and sent to prison for ten years (he served only six) he continued to cadge money from his family to bribe his jailors for favors. Prison had some privileges if you could pay for them.
His 8-year-old son was living with relatives when Ward was released from prison in 1892. His son had inherited the only money left in the family and Ward was determined to get his hands on both.
Ultimately, he tried to kidnap his own son. This lunacy ended up in a very theatrical horse and buggy chase across state lines. [There was no Federal Law against kidnapping until the Lindberg case 40 years later.] But, Ward went home alone.
Ferdinand Ward died in 1925 at age 74 without ever making even the smallest admission of fault on his part.
The author is Ward's own great grandson, Geoffrey Ward, who has often collaborated with Ken Burns on his historic television documentaries. This book doesn't have the scope of a Ken Burns' work but it is an entertaining tale of a 19th Century Barnard Madoff.[Mark Twain makes an appearance! Twain lost money on other investments but not this one.]
December 19, 2014
This book uses a wealth of information from newspaper reports and letters to tell the tale of scandal that plagues this family. Central to the story is Ferd Ward, a sociopath who uses his wit, and association with well known citizens to lie and swindle, for his own profit.
The story of son, Ferd Ward doesn't begin until about one-third of the way into the book. The first part of the book is dedicated to his father, The Reverend Ferdinand De Wilton Ward. I found the story of Reverend Ward cumbersome, and at times boring. It is, however, an important part of the story, because it creates a foundation for the behavior to come. Reverend Ward is a pious, self-righteous man, who buries himself within his own religious arrogance. He believes that he is right, and finds a method to get what he wants, no matter the cost.
Born and raised in this atmosphere, it is perhaps just that his son, Ferd, settles into a life of deception and swindling in order to fund his extravagant lifestyle. In the end, his titanic pyramid scheme unravels. Of course, the gig is up, but the story doesn't end there. Soon, everyone knows that all of the daring investments he has been making are, in fact, fiction.
Ferd's son, Ferdinand, later changed to Clarence by his mother, becomes Ferd's last target. Clarence is raised by his aunt and uncle during his father's incarceration. He stands to inherit a sizable sum of money from his mother's estate. Of course, Ferd feels that this money is rightfully his, and he continues with unrelenting letters, threats, and even a botched kidnapping in order to get his hands on the money.
I am always in awe of the enormous amount of letters that authors use in order to recreate a story. This book is no slouch. Much of the text is in the form of actual letters, with the author's input giving more details. Of course, this story was sensational, and there is much of the story to be found in newspapers. Author, Geoffrey Ward, tirelessly brings together a colossal amount of information to tell his family's story, and makes it comprehensible to the reader.
The story of son, Ferd Ward doesn't begin until about one-third of the way into the book. The first part of the book is dedicated to his father, The Reverend Ferdinand De Wilton Ward. I found the story of Reverend Ward cumbersome, and at times boring. It is, however, an important part of the story, because it creates a foundation for the behavior to come. Reverend Ward is a pious, self-righteous man, who buries himself within his own religious arrogance. He believes that he is right, and finds a method to get what he wants, no matter the cost.
Born and raised in this atmosphere, it is perhaps just that his son, Ferd, settles into a life of deception and swindling in order to fund his extravagant lifestyle. In the end, his titanic pyramid scheme unravels. Of course, the gig is up, but the story doesn't end there. Soon, everyone knows that all of the daring investments he has been making are, in fact, fiction.
Ferd's son, Ferdinand, later changed to Clarence by his mother, becomes Ferd's last target. Clarence is raised by his aunt and uncle during his father's incarceration. He stands to inherit a sizable sum of money from his mother's estate. Of course, Ferd feels that this money is rightfully his, and he continues with unrelenting letters, threats, and even a botched kidnapping in order to get his hands on the money.
I am always in awe of the enormous amount of letters that authors use in order to recreate a story. This book is no slouch. Much of the text is in the form of actual letters, with the author's input giving more details. Of course, this story was sensational, and there is much of the story to be found in newspapers. Author, Geoffrey Ward, tirelessly brings together a colossal amount of information to tell his family's story, and makes it comprehensible to the reader.
March 31, 2019
Great history of a real scoundrel. Totally unrepentant. I loved/hated him. Interesting look into a bygone era. Along the way a number of well known people are sucked in. President Grant for one!
October 11, 2013
I like to read about this period in history, so I expected to enjoy this book. But I only read the first couple chapters because I couldn't get past the anti-Christian negativity.
Mr. Ward's great-grandparents were missionaries to India, and like many believers of that period their personal faith and religious zeal was parochial and even xenophobic in nature. I get why Mr. Ward would look upon that critically. But he doesn't seem to get that his ancestors were products of their time and culture; it would have taken an amazing level of maturity and exposure to the world to rise above those prejudices.
And I perceive exactly the same short-coming in Mr. Ward himself, particularly in his descriptions of Christian faith and outreach in general. For example, when discussing the various castes in India and how they responded to the gospel message, Ward argues that the Untouchables were drawn to Christianity because "there was nothing better to do" (or something along those lines.) In reality, the underclasses of the world have almost always been the first to embrace Christian faith because it gives them a dignity and freedom of spirit that they don't experience in the "real" world.
I haven't read any of Ward's other work so I don't know if his personal bias is evident in all of them. Regardless, this book was a real disappointment.
Mr. Ward's great-grandparents were missionaries to India, and like many believers of that period their personal faith and religious zeal was parochial and even xenophobic in nature. I get why Mr. Ward would look upon that critically. But he doesn't seem to get that his ancestors were products of their time and culture; it would have taken an amazing level of maturity and exposure to the world to rise above those prejudices.
And I perceive exactly the same short-coming in Mr. Ward himself, particularly in his descriptions of Christian faith and outreach in general. For example, when discussing the various castes in India and how they responded to the gospel message, Ward argues that the Untouchables were drawn to Christianity because "there was nothing better to do" (or something along those lines.) In reality, the underclasses of the world have almost always been the first to embrace Christian faith because it gives them a dignity and freedom of spirit that they don't experience in the "real" world.
I haven't read any of Ward's other work so I don't know if his personal bias is evident in all of them. Regardless, this book was a real disappointment.
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