(Excerpt from An Exposition of the Conduct of the Two Hous...)
Excerpt from An Exposition of the Conduct of the Two Houses of G. G. And S. Howland, and Le Roy, Bayard, and Company, in Relation to the Frigates Liberator and Hope, in Answer to a Narrative on That Subject, by Mr. Alexandre Contostavlos As an illustration how little such property can be ma de an avail able security, be further stated, that the armament of these Swedish ships had cost and under the hammer would not bring $7000. 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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William Bayard was born in 1761 in the village of Greenwich outside New York City, the son of Col. William and Catherine (McEvers) Bayard, and descendant of Balthazar Bayard, the Huguenot ancestor of the American family. His father, a colonial merchant, extensive landowner, and outspoken Tory, raised a Loyalist regiment and lost his property by confiscation. He sailed for England in 1783, taking all his family except young William.
On December 1, 1786, young Bayard formed a partnership with Herman Le Roy, each investing £2, 000. A venture to Tenerife for liquor was the first step in the development of this firm, which became the leading commercial house of New York during the next forty years. James McEvers, Bayard's cousin, was later taken into partnership, but he and the reserved Le Roy were overshadowed by the personality of Bayard. The commerce of New York was at its lowest ebb when the firm started, but the long wars between England and France brought increased opportunities. Several of their ships were condemned by the belligerents, but the remainder brought in good profits. During the War of 1812, they owned a number of successful privateers. The close of the war found Le Roy, Bayard & McEvers in a commanding position in New York, trading extensively with Europe and the East and West Indies. They had the confidence of the wary Dutch bankers and their London drafts could be used in the place of coin in the East Indian trade. By 1822, they had several ships trading along the South American coast, taking advantage of the revolutions. During the interruption of trade caused by the Embargo the partners had turned to land speculation and the town of Le Roy is still a reminder of their activity in developing Genesee County.
Bayard had many other interests. In 1817, he was sounding out the Amsterdam bankers for a loan to finance the Erie Canal. He served as president of the Bank of America, the Chamber of Commerce of the State of New York, the Morris Canal Company, and various other organizations. When merchants assembled at Philadelphia from all the northern states in 1824 to protest against the tariff increase, Bayard was made chairman of the gathering. By that time, his former partners had died and their places were filled by his sons, William, Jr. , and Robert. They, rather than their father, were responsible in part for the apparently shameless profiteering of the Bayards and Howlands in building two frigates for the Greeks in 1825. The notoriety caused by this affair undoubtedly hastened the death of the elder Bayard at Greenwich on Septeber 18, 1826, after a long illness.
William Bayard was a co-founder of Le Roy, Bayard & McEvers Company. He also served as president of the Bank of America, the Chamber of Commerce of the State of New York, the Morris Canal Company, governor of the New York Hospital, trustee of the Sailors' Snug Harbor, and one of the owners of the Tontine Coffee House.
(Excerpt from An Exposition of the Conduct of the Two Hous...)
William Bayard was a member of the New York Society Library and the Society of the New York Hospital.
William Bayard had a reputation for mildness of temper and charm of manner in addition to the unusual business acumen which made him one of the wealthiest men in the country.
William Bayard married Elizabeth, the daughter of Samuel Cornell.
