Samuel Archer

Background

Samuel Archer was born in 1771 in Columbus, New Jersey, United States.

Career

He went to Philadelphia about 1794, and In 1797 he began business in Philadelphia under the firm name of Archer & Newbold, described in the Philadelphia Directory as merchants. The following year he was engaged in the retail dry-goods trade, but in another twelve-month was in the importing business.

In 1804 he took in Robert L. Pittfield, an accountant, as partner, and the firm name was changed to Samuel Archer & Company, which, a few years later, became Archer & Bispham, Stacy B. Bispham entering the firm as the successor of Pittfield, who retired.

Between the years 1800 and 1812, the greater part of the business in importations from India and China was transacted through Philadelphia and Archer's firm was among the largest importers of muslins from the East Indies. These goods were not then manufactured in this country. The house was also noted as an extensive importer of Chinese manufactures, but a great deal of Archer's business was in textiles of British make.

In 1810-1811 Archer made a visit to Europe to purchase goods. The War of 1812, which began soon after his return home, cut off the bulk of the foreign trade of the house, but after hostilities had ceased, with rare courage and business sagacity, he began to export to China American-made fabrics, the manufacture of which was just beginning here. He is credited with having been the first American merchant to export extensively American-made cotton goods to Asia.

While fortune smiled upon many of his daring enterprises, it also, occasionally, frowned upon him, and he suffered several serious reverses, owing, it is said, to his generous disposition to place too much confidence in some concerns and men with whom he engaged in business.

He took an active interest in the financial institutions of his adopted city, and was one of the original managers of the Philadelphia Saving Fund Society (1816), the first of its kind in the United States; and the same year he was elected a director of the Insurance Company of North America, the first marine insurance company organized in this country.

In 1817 he was one of four wealthy men who presented a lot on which was erected the Philadelphia Orphan Asylum; his partner at that time, Robert Ralston, was another of the quartet.

He was buried in a Friends' burial-ground in Philadelphia.

Achievements

• Archer was a successful businessman. He is credited with having been the first American merchant to export extensively American-made cotton goods to Asia. He also played a major role in the development of institutions conneced with money saving and insurance.

Religion

He was the member of the Quakers, whose ideals he made his own, although he was not a member of that religious society at the time of his marriage.

Personality

Quotes from others about the person

• William D. Lewis: "Samuel Archer held a prominent place among the enterprising merchants of our city for near half a century. When basking in the sunshine of great riches and prosperity, he possessed much simplicity of manners and an utter absence of all display. .. . Charity, benevolence, and uprightness seemed to be the natural qualities of his character exhibited through life. "

Connections

In 1797 he married Elizabeth West, who was a member of the Society of Friends, and nine years his senior.

Spouse:

Elizabeth (West) Archer