Haym Salomon

Haym Salomon was born in Leszno, Poland. In 1772 Salomon fled to New York City, where he established himself as a commission merchant. When the American Revolutionary War (1775 – 1783) began, Salomon was operating as a financial broker. He supported the American side of the conflict and for it was imprisoned by the British in 1776. He was pardoned and employed by the British as an interpreter with their German troops. He, however, continued to work against the British and was arrested again in 1778 and sentenced to death. He escaped and settled in Philadelphia, where he resumed his career as a broker and dealer in securities. He soon became broker to the French consul and paymaster to French troops in America.

In support for the American cause, Salomon subscribed heavily to government loans, endorsed notes, gave generously to soldiers, and equipped several military units with his own money. Robert Morris, the superintendent of finance from 1781 to 1784, appointed Salomon as broker to his office. Between 1781 and 1784 Salomon lent more than $200,000 to the government and made private loans to prominent statesmen such as James Madison, Thomas Jefferson, and James Monroe, from whom he would not take interest. It is estimated that the government owed Salomon more than $600,000.