Robert Morris (1734-1806)
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| Relationship to the Speculation Lands: |
| Robert Morris and Tench Coxe corresponded regarding the possibility of cooperating on the purchase of speculation land. No documents related to this exchange is included in the Speculation Lands papers, however, Sadie Smathers Patton makes mention of the change of name of "Morristown" to "Asheville" following Robert Morris' fall from grace when his land investments collapsed, resulting in his imprisonment. |
| Biography: |
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Robert Morris, one of the signers of the Declaration of Independence, was a merchant and has been recorded as the "financier of the American Revolution." He was born in England and moved to America in 1747. He quickly prospered and his expertise at business brought him to the attention of the newly formed Congress who in 1781 appointed him the Superintendent of Finance for the country, after the failure of public credit in the new Republic. He held this position until 1784. He was also a member of the Constitutional Convention of 1787 and later a U.S. Senator from Pennsylvania. His financial expertise was brought to bear on the banking industry and he is credited with the organization of a national bank and with the establishment of a national mint. He often mixed his public life with his personal investment and his extensive speculation in land eventually led to his financial downfall and his fall from grace. He was sent to debtor's prison and he never recovered from the ignominy of this event. |
| Links: |
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http://www.nndb.com/people/134/000049984/ http://www.archives.upenn.edu/histy/features/1700s/people/morris_robt.html |
| Bibliography: |
| Oberholtzer, E.P. (1903, repr. 1968); W. G.
Sumner, The Financier and the Finances of the American Revolution
(1891, repr. 1968) Patton, Sadie Smathers. Buncombe to Mecklenburg
Speculation Lands. The Western North Carolina Historical Association, Forest City, North Carolina. 1955. Ver Steeg, Clarence. Robert Morris: Revolutionary Financier. Philadelphia: U of Philadelphia P, 1954. Young, Eleanor. Forgotten Patriot: Robert Morris. New York: The Macmillan Company, 1950. |
