Background
Thomas Buchanan was born on December 24, 1744 and was descended from a line of prosperous Scotch merchants was born at Glasgow, the son of George and Jean (Lowden) Buchanan.
(Excerpt from Colonial Records of the New York Chamber of ...)
Excerpt from Colonial Records of the New York Chamber of Commerce, 1768 1784: With Historical and Biographical Sketches The members of the Chamber of Commerce doth agree that the Treasurer shall provide for their use a strong chest wherein shall be deposited their cash, books and papers which is to have three different good locks and keys - one key to be kept by the President, one by the Treasurer, and the third by the Secretary; the chest for the present to be kept at the Treasurer's. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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Thomas Buchanan was born on December 24, 1744 and was descended from a line of prosperous Scotch merchants was born at Glasgow, the son of George and Jean (Lowden) Buchanan.
His father was a man of liberal education and young Thomas studied at the University of Glasgow in addition to acquiring experience in his father's counting-house.
In 1763 he went to New York where he soon entered into partnership with his father's cousin Walter, who was already established in business there. This firm of W. & T. Buchanan owned several ships and their extensive trade with the British ports gave them a place among the foremost New York commercial houses.
He signed the original non-importation agreement in 1766 and was elected a member of the Chamber of Commerce at its second meeting in 1768.
Two years later, he was active in the attempt to restore normal trade. There seems to be no authority for the frequently repeated statement that Buchanan, who had dissolved the partnership with his cousin in 1772, was the consignee of the New York tea ship Nancy in 1773. In 1775, he was a member of the local Committee of One Hundred, but a year later he signed the Loyalist address to Howe. He served as vice-president of the Chamber of Commerce from 1780 to 1783 when he was elected president.
He prudently declined to serve, for the Chamber was soon reorganized with "patriot" officers who had been absent from the city during the British occupation. Like many American firms, the Buchanans suffered from the suspension of trade during the embargo and the War of 1812.
In 1815, the year of his death, Thomas Buchanan's estate was valued at $50, 000. He had a residence and counting-house on Wall St. and a country seat on the East River near Hell Gate.
He died at his home on Wall St. November 10, 1815, not September 10, as has been frequently stated.
(Excerpt from Colonial Records of the New York Chamber of ...)
He was a member of the First Presbyterian Church and the St. Andrew's Society, and a director of the United Insurance Company.
His property escaped confiscation and his Tory stand did not prevent him from carrying on an extensive foreign trade, principally with Scotland and Jamaica, for more than thirty years after the Revolution.
He is described as of middle height, slender in youth but quite corpulent later, with sandy hair, light-blue eyes, and a florid complexion.
Thomas Buchanan married Almy, the daughter of Jacob Townsend of Oyster Bay, on March 17, 1766. His son George was later taken into partnership.