The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-02
Haym Salormom---T The Fiinancier
of the American Revolution
BY MADISON C. PETERS.

'N''''iN ann All NEW OTh SIX tHOuSanQ
pounds sterling, n distressed wife and
child one month old. 1t seems likely
that his intimate friend, the brave
General McDougall, who then COM
manded the American army In the
heighborhood of New York. was in CO.
operation with him. Fourteen days
later Solomon addressed a petition to
the Continental Congress. setting forth
his services and asking for some en-
ployment; but. characteristic of the
man, he asked not for himself alone
Mt the same time he entered plea
for the exchange of Samuel Demezes,
fellow prisoner.
Congress turned n deaf ear to his
plea, and the denial worked for the
ultimate good both OF Solomon and
the young country.
The tide in his affairs. and. as the
story shows. the tide In the affairs of
the young republic turned upon his
escape TO Philadelphia. and IT was not
long until he succeeded In establish
ing himself in business and becoming
the greatest nnancier of his adopted
city.
Early in 1881 he made known
through the newspapers that he was
a dealer in bill of exchange on Franco
and Holland. For the most part the
money advanced by Louis XVI. and the
plptttuS Ol inc loans nePOtlated IN
Holland passed through his hands He
was Entrusted with the negotiation OF
all the war subsidies of France and
Holland on his own personal integrity.
which were sold to the resident mer-
chants in America without any loss at
a credit OF two and three months for
which he received the small commits
sion of one-fourth OF per cent. Sew
eral European financial houses did
business through him. few days
after the foregoing announcement
Robert Morris became Superintendent
of Finance. Morris's diary records not
less than seventy-flve financial trans
actions with Solomon between August.
1871 and April. 1854.
Gives Wealth to Country.
Alexander Hamilton. writing during
the dark days of the war to Robert
Morris. says: at Is by restoring the
public credit. not by gaining battles.
that we are finally to gain our object"
| Haym Solomon brought not only all
his wealth to the aid OF his adopted
country, but financial insight which,
for clearness and depth, was not
equaled by Robert Morris America
found in Haym Solomon a champion
e1ualed by few. his fertility in re-
source and soundness OF financial views
made him, through Robert Norris SUI
perintendent OF Finance. the real
financier OF the Revolution. and. Judged
by Alexander Hamilton's standard OF
patriotism. surpassed by none. for
Haym Solomon was practically the
sole agent employed by Morris for
negotiating bills OF exchange by
which means the credit of the gov
eminent was so largely maintained
during this period. We do not wish to
detract from the glory of Robert
Morris. but we do insist that the sue
cess Morris obtained in his financial
schemes was due to the Skill. ability
and sacrifice OF Haym Solomon.
On July IL. 1852, he requested Nor
ris's permission to publish the fac,
that he was broker to the office of
finance. In reference to this Morris
entered into his diary: This brok er
! has been useful to the public interests.
I have consented. as I do not see that
any disadvantage can possibly arise
20 the public service. but the reverse
lie was appointed broker to the
French consul and the treasurer OF the
French army and fiscal agent OF the
French minister to the United States
Chevalicr de la Luzerne's enormous
sums passing through his hands. He
was the principal dcpositor OF the
Bank OF North America. an institution