Salomon, Haym

SALOMON, HAYM. (c. 1740–1785). Patriot financier. Born to Jewish parents in Poland around 1740, Salomon had settled in New York City by 1775. After serving briefly as a sutler provisioning the American forces around Lake Champlain, he returned to New York City just before the British captured the it and decided to stay on under the occupation. Briefly imprisoned in the provost's jail on suspicion of being an American agent, he was released under the supervision of General Leopold Heister, commander of the German troops in the city. Heister employed Salomon, who spoke German and several other languages, in his commissary department. Salomon took advantage of the situation to improve his own economic standing even while endangering himself by encouraging German troops to defect to the Patriot side and providing money to American and French prisoners. Discovered in August 1778, he fled the city just ahead of arrest by the British and made for Philadelphia. Congress ignored his petition for help and Salomon, though destitute, set himself up as a financier, where his language skills proved useful as he became the primary dealer in foreign bills of exchange. In June 1781 Robert Morris, the superintendent of finance for the United States, turned to Salomon to handle Congress's foreign transactions, most particularly the sale of U.S. notes. As the economy of the nation worsened, Salomon played an ever-more-critical role in buttressing the nation's finances. In July 1782 he became Congress's official broker and was widely respected for his honesty and generosity. He died in Philadelphia on 6 January 1785, leaving his family mostly worthless U.S. securities.

BIBLIOGRAPHY

Haym, Salomon. Haym Salomon Collection. American Jewish Historical Society, Waltham, Mass.

Schwartz, Laurens R. Jews and the American Revolution: Haym Salomon and Others. Jefferson, N.C.: McFarland, 1987.