Besides his grandfather Abraham Gallatin at Pregny, and his other
paternal relations, Albert had a large family connection on the mother's
side, and more especially an uncle, Alphonse Rolaz of Rolle,
kind-hearted, generous, and popular. Both on the father's and the
mother's side Albert had a right to expect a sufficient fortune. His
interests during his minority were well cared for, and nothing can show
better the characteristic economy and carefulness of Genevan society
than the mode of the boy's education. For seven years, till January,
1773, he lived with Mlle. Pictet, and his expenses did not exceed eighty
dollars a year. Then he went to boarding-school, and in August, 1775,
to the college or academy, where he graduated in May, 1779. During all
this period his expenses slightly exceeded two hundred dollars a year.
The Bourse Gallatin advanced a comparatively large sum for his education
and for the expenses of his sister's illness. "No necessary expense was
spared for my education," is his memorandum on the back of some old
accounts of his guardian; "but such was the frugality observed in other
respects, and the good care taken of my property, that in 1786, when I
came of age, all the debts had been paid excepting two thousand four
hundred francs lent by an unknown person through Mr. Cramer, who died in
1778, and with him the secret name of that friend, who never made
himself known or could be guessed." In such an atmosphere one might
suppose that economists and financiers must grow without the need of
education. Yet the fact seems to have been otherwise, and in Albert
Gallatin's closest family connection, both his grandfather Abraham and
his uncle Alphonse Rolaz ultimately died insolvent, and instead of
inheriting a fortune from them he was left to pay their debts.
Public-domain text, read in full here on John Shaqi.
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