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Article: Stephen Girard: America's First Tycoon. (book reviews)
- Article from:
- Insight on the News
- Article date:
- March 11, 1996
- Author:
CopyrightCOPYRIGHT 1996 News World Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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He was the wealthiest man in America -- possibly the first citizen of the United States to become a millionaire. Stephen Girard was so rich he bankrolled the country during the War of 1812, loaning the Treasury $2,383,000 in cash and underwriting another $6 million to finance the new nation's declaration of sovereignty. At the time of his death in 1831, he was worth more than $7.5 million, a staggering sum in the days when bank presidents pulled down $2,000 a year.
Although his estate continued to grow -- it was valued at $230 million in 1991 -- Girard himself receded into the past, destined to become a footnote in American history. It was not because he was a ...