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Robert Morris
ROBERT MORRIS, the great financier of the American Revolution, was born in Lancashire, England, January, 1733-4, O. S., of respectable parentage. His father embarked for America, and caused him to follow at the age of thirteen. He received a respectable education, and before he reached his fifteenth year, was placed in the counting-house of Mr. Charles Willing, at that time one of the first merchants at Philadelphia. His diligence and capacity gained him the full confidence of Mr. Willing, after whose death, he entered into partnership with his son. Thomas Willing, subsequently president of the bank of the United States. This connexion lasted from the year 1754 until 1793, -- a period of thirty-nine years.
At the commencement of the American Revolution, Mr. Morris was more extensively engaged in commerce than any other merchant of Philadelphia. He zealously opposed the encroachments of the British government on the liberties of the colonists, and embraced the popular cause, at the imminent sacrifice of his private interest and wealth. He declared himself immediately against the stamp act, signed, without hesitation, the non-importation agreement of 1765, and, in so doing, made a direct sacrifice of trade.
In 1775, Mr. Morris was elected, by the Legislature of Pennsylvania, a delegate to the second General Congress. He was placed upon every committee of ways and means and connected with all the deliberations and arrangements relative to the navy, maritime affairs, and financial interests. Besides aiding his country by his talents for business, his judgment, and his knowledge, he employed his extensive credit in obtaining loans, to a large amount for the use of the government.
In May, 1777, he was elected a third time to Congress. and continued to be the chief director of the financial operations of the government. In 1780, he proposed the establishment of a bank, the chief object of which was, to supply the army with provisions. He headed the list with a subscription of ten thousand pounds; and other followed to the amount of three hundred thousand pounds. The institution was established, and continued until the bank of North America went into operation in the following year.
In 1781, Mr Morris was appointed, by Congress, Superintendent of Finance. The state of the treasury, when he was appointed to its superintendence, was as bad as possible. Abroad, the public credit was every moment in danger of annihilation. At home, the greatest public, as well as private distress, prevailed. The treasury was so much in arrears to the servants of the public offices, that many of them could not without payment perform their duties, but must have gone to jail for debts they had contracted to enable them to live. It was even asserted, by some of the members of the board of war, that they had not the means of sending an express to the army. But the wasted and prostrate skeleton of public credit sprung to life and action at the reviving touch of Robert Morris. The face of things was suddenly changed. Public and private credit was restored; and it has been said, that "the Americans owe as much acknowledgment to the financial operations of Robert Morris, as to the negociations of Benjamin Franklin, or even the arms of George Washington." The establishment of the bank of North America was one of his first and most beneficial measures; an institution which he himself planned, and to forward which, he pledged his personal credit to an immense amount. In 1786, Mr. Morris was chosen to the Assembly of Pennsylvania ; and the same year was elected a member of the Convention which framed the Federal Constitution. For the adoption of the present system, he was one of the most strenuous advocates. In 1788, the General Assembly of Pennsylvania appointed him to represent the State in the firs Senate of the United States, which assembled in New York. He was a fluent and impressive speaker, and wrote with great ease and power. His conversation was replete with interest and instruction. When the Federal Government was organized, Washington offered him the post of Secretary of the Treasury, which he declined; and, being requested to designate a person for it, he named General Hamilton. At the conclusion of the war, he was among the first who engaged in the East India and China trade. He was, also, the first who made an attempt to effect what is termed an out of season passage to China.
In his latter days, Mr. Morris embarked in vast land speculations, which proved fatal to his fortune. The man who had so immensely contributed to our national existence and independence, passed the closing years of his life in a prison; a beautiful commentary upon those laws which make no distinction between guilt and misfortune, and condemn the honest debtor to the punishment of the convicted felon! He died on the 8th of May, 1806, in the seventy-third year of his age.
Until the period of his impoverishment, the house of Mr. Morris was a scene of the most lavish hospitality. It was open, for nearly half a century, to all the respectable strangers who visited Philadelphia. He was active in the acquisition of money, but no one more freely parted with his gains. No one pursued a more enlightened policy, or manifested through life a greater degree of humanity, virtue, energy. and gentlemanly spirit, than Robert Morris.