page_title: James Greenleaf
section_title: Land speculation in Washington, D.C.
hierarchical_section_title: James Greenleaf / Land speculation in Washington, D.C.
caption_attribution_description: English: Oil on canvas painting of Robert Morris; size without frame 92.4×74.6&#160;cm.
context_page_description: James Greenleaf was an important early American land speculator, particularly in the newly designated capital of Washington, DC after 1790. A member of a prominent and wealthy Boston family, he married a Dutch noblewoman and served briefly as consul at the United States embassy in Amsterdam.
  After his return to the United States, Greenleaf engaged in land speculation in the District of Columbia, New York state, and other areas. He was a central figure in the early development of Washington, D.C. His land business collapsed in 1797, and he spent a year in debtor's prison. He married a wealthy Pennsylvania heiress after his release, and spent the remainder of his life in genteel poverty, fending off lawsuits.
context_section_description: Greenleaf arrived in Washington, D.C., on September 17, 1793. He was present at the laying of the cornerstone of the United States Capitol on September 18, at which time he met President George Washington.
  Greenleaf quickly ingratiated himself with several of Washington's closest friends. One of these was Tobias Lear, who had served as Washington's secretary from 1785 to June 1793. Greenleaf provided seed money for Lear's mercantile venture, Tobias Lear & Co., in 1793. Another was Thomas Johnson, whom Washington had appointed as one of three commissioners of the District of Columbia. Greenleaf purchased 15,000 acres (61 km²) of Johnson's land in Frederick County, Maryland, for $14,000 in September.
  The Residence Act of 1790, which established the site for the nation's capital, provided for the appointment of three commissioners by the President (and without the need for Senate confirmation) to govern the District of Columbia, survey its land, purchase property from private landowners, and construct federal buildings. On September 23, 1793, Greenleaf purchased 3,000 city lots from the commissioners. The city offered him the lots at $66.50 each, a significant discount from the going price of $200 to $300 per lot. To get this low price, Greenleaf was required to construct 70 homes on the lots before 1800, not sell any of the land before 1796, and lend the commissioners $2,200 a month until certain public buildings were constructed. To raise money to improve the lots, Greenleaf executed a power of attorney on November 2, 1793, with Sylvanus Bourne, the American vice consul in Amsterdam. Bourne, who served as vice consul in Amsterdam under Greenleaf, was empowered to sell lots or obtain mortgages on them.
  On November 19, 1793, Greenleaf moved into the Pearl Street home of Noah Webster in New York City.
  The September 23 agreement with the commissioners was superseded by a new one on December 24, 1793. For this agreement, Greenleaf had a new business partner, Robert Morris. Morris was already legendary in the United States. He was a Philadelphia merchant who signed the Declaration of Independence, the Articles of Confederation, and the United States Constitution. He was Chairman of the Pennsylvania Committee of Safety during the Revolutionary War, and a delegate to the Second Continental Congress. He was appointed as Superintendent of Finance for the fledgling United States. Next to General George Washington, he was considered "the most powerful man in America." At the time he became Greenleaf's business partner, he was one of Pennsylvania's original U.S. senators (his term ended in 1795).
caption: Robert Morris, Greenleaf's partner in land speculation.
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