Rash's Surname Index
Notes for Robert MORRIS
Known as the financier of the American revolution, Robert Morris was an English immigrant who apprenticed with the Willings, wealthy Philadelphia merchants, and later became a partner in the firm of Willing & Morris. At the outbreak of the Independence war, Willing & Morris was already one of Philadelphia’s leading mercantile concerns. A member of the Continental Congress and acting as a secret commissioner contracting for the Continental army, Robert Morris proved essential to the supply of George Washington’s campaigns, although he was charged with conflict of interest. Appointed superintendent of finance in 1781, he is widely credited for saving the new American nation from bankruptcy. Among other measures, Robert Morris founded the Bank of North America, the first commercial bank of the United States. His wealth and influence was so great at this time, that his personal credit supported the government notes he issued, to the point they were known as “Morris notes”. Always a visionary, Robert Morris launched the North American land Company and bought over 6 million acres of undeveloped land in Virginia, the Carolinas, Georgia and Kentucky as well as millions of acres in the state of New York. He also bought large tracts in the place that was to become the new nation’s capital and named “Washington” after its first president. As the American economy failed to grow at the anticipated rates and the major inflow of immigrants seeking land in the West was still years away, Morris’ land speculations failed and by 1896 he was bankrupt and, like some of his peers, spent several years in debtors prison.
Activity : Shipping merchant, banker and land speculator
Main property : Willing & Morris; Bank of North America; North American Land Co (owned over 2 million acres speculative land in the West)
Other activities : Shipping merchant, Financier
Associated properties : Owned over 6 million acres in Virginia, the Carolina, Kentucky and Georgia as well as millions of acres in New York state; Owned large tracts of Washington City real estate; formerly a partner of Willing & Morris shipping merchants of Philadelphia.
Politics / Public offices : Signer of the Declaration of Independence; Continental Congressman; Commissioner for Contracting for the Continental Army (1876-77); Superintendent of Finance (1781-84); US Senator of Pennsylvania.
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