History of the Great American Fortunes, Vol. I: Conditions in Settlement and Colonial TimesMyers, Gustavus
History
History of the Great American Fortunes, Vol. I: Conditions in Settlement and Colonial Times
Myers, Gustavus
United States -- Economic conditions; Wealth -- United States
[14] The Public Domain: Its History, etc.:38.
[15] Pennsylvania: Colony and Commonwealth:66, 84, etc. Their claim to
inherit proprietary rights was bought at the time of the Revolutionary
War by the Commonwealth of Pennsylvania for L130,000 sterling or about
$580,000.
[16] Colonial Documents, iv:463.
[17] Ibid.:535.
[18] Ibid.:39.
[19] Colonial Documents, iv:528. One of Bellomont's chief complaints was
that the landgraves monopolized the timber supply. He recommended the
passage of a law vesting in the King the right to all trees such as were
fit for masts of ships or for other use in building ships of war.
[20] "Colonial New York," 1:285-286.
[21] According to Reynolds's "Albany Chronicles," Livingston was in
collusion with Captain Kidd, the sea pirate. Reynolds also tells that
Livingston loaned money at ten per cent.
[22] Wright's "Industrial Evolution in the United States"; see also his
article "Wages" in Johnson's Encyclopaedia. The New York Colonial
Documents relate that in 1699 in the three provinces of Bellomont's
jurisdiction, "the laboring man received three shillings a day, which
was considered dear," iv:588.
[23] Colonial Documents, iv:533-554.
[24] Frederick and his son Adolphus. Frederick was the employer of the
pirate, Captain Samuel Burgess of New York, who at first was sent out by
Phillips to Madagascar to trade with the pirates and who then turned
pirate himself. From the first voyage Phillips and Burgess cleared
together L5,000, the proceeds of trade and slaves. The second voyage
yielded L10,000 and three hundred slaves. Burgess married a relative of
Phillips and continued piracy, but was caught and imprisoned in Newgate.
Phillips spent great sums of money to save him and succeeded. Burgess
resumed piracy and met death from poisoning in Africa while engaged in
carrying off slaves.--"The Lives and Bloody Exploits of the Most Noted
Pirates":177-183. This work was a serious study of the different sea
pirates.
[25] Colonial Docs, iv:533-534. On November 27, 1700, Bellomont wrote to
the Lords of the Treasury: "I can supply the King and all his dominions
with naval stores (except flax and hemp) from this province and New
Hampshire, but then your Lordships and the rest of the Ministers must
break through Coll. Fletcher's most corrupt grants of all the lands and
woods of this province which I think is the most impudent villainy I
ever heard or read of any man," iv:780.
[26] This is the inventory given in "Abstracts of Wills," 1:323.
[27] "Journal and Letters," 1767-1774.
[28] Sparks' "Life of Washington," Appendix, ix:557-559.
[29] Bigelow's "Life of Franklin," iii:470.
[30] "Colonial New York," 1:232.
CHAPTER III
THE RISE OF THE TRADING CLASS
The creation of the great landed estates was accompanied by the slow
development of the small trader and merchant. Necessarily, they first
established themselves in the sea ports where business was concentrated.
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