Elias Hasket Derby
Encyclopedia
Elias Hasket Derby was among the wealthiest and most celebrated of post-Revolutionary merchant
s in Salem, Massachusetts
, and owner of the Grand Turk, the first New England
vessel to trade directly with China
.
of his father and was in charge of bookkeeping
there from 1760 until the start of the Revolution
. By 1760, Richard Derby had a fleet of at least thirteen vessels engaged in coastal, West Indian and Southern Atlantic trade
. The Derbys, like many in Salem at the start of the Revolution, both supported and profited from the Revolution. From all accounts, Elias Hasket Derby was heavily involved in equipping privateer
s or had shares in as many of half the privateers (one hundred and fifty-eight in all) which hailed from Salem. The Derbys' Grand Turk, launched in May 1781, became Salem's largest and most successful privateer, capturing seventeen prizes between 1781 and 1782. Even before the close of the Revolution (Richard Derby died in 1783) Elias was trading on his own and in partnership with his brothers. By the time peace was declared, Derby's contemporaries claimed that in all of New England his fortune was second only to the Cabots
of Beverly
.
In probably one of his many interactions with the privateers both out of Salem directly, of which there were many during the Revolutionary war, on August 19, 1776 Elias Hasket Derby acted as a proponent merchant agent on behalf of Commander/Captain Joseph White and his marines of the sloop
Revenge in a prize case regarding the capture of the brigantine
Anna Maria, a British vessel laden with a variety of goods.
Immediately following the war, coastal and international trade were depressed. The privateers built during the Revolution were substantially larger and faster than earlier Salem ships and represented a substantial resource which must now be converted to peacetime use. Derby was instrumental in initiating new trade with Russia
, the Baltic
, Europe
and in 1784 with the East Indies
. Salem's pioneering of, and specialization in, the East Indian markets was responsible in large part for its remarkable, if temporary, prosperity.
In November 1784, Derby sent the Grand Turk under Capt. Jonathan Ingersoll to the Cape of Good Hope
. The voyage was successful, and in December 1785 the Grand Turk under Ebenezer West, master, and William Vans, supercargo, once again cleared Salem bound for the Cape. West and Vans arrived at the Cape of Good Hope after a passage of 82 days. They found the markets there less favorable than they had anticipated. Vans and West continued on to Mauritius
, at the time under French
control and recently opened as a way station to United States
vessels. The Grand Turk was apparently the first American vessel to call there.
http://www.awiatsea.com/Privateers/G/Grand%20Turk%20Massachusetts%20Ship%20%5BSimmons%20Pratt%5D.html
The original purpose of the Grand Turk was that of a privateer ship of 300 tons, and did so quite well capturing 25 ships and yielding great wealth from the sales.. Designed for speed and yet still having a good cargo capacity. Fitted with twenty-eight guns, the Grand Turk was built for the firm controlled by Elias Hasket Derby & wrought by Thomas Barstow at his Two Oaks yard in Hanover, Massachusetts and launched in May 1781. One of Derby’s captains, James Gibaut, was sent to Hanover to supervise the construction. It is of interest to note that she was largely paid for by barter, with goods (rum, butter) being exchanged for the labor and materials. The materials used for of the best quality and the Grand Turk was Copper bottomed.
West and Vans wrote Derby that they were again "Miserable disappointed in the demand for our Cargo." Subsequently, Randall Ouery and Sebier de la Chataignerais, French merchants who had purchased the Turk's cargo
, offered a solution. They contracted with the Grand Turk to take a cargo to Canton
and thence onto Boston
. Vans and West wrote to Derby to inform him of the new plan, but he would have known of it only retrospectively. The deal, however, did not go off as planned. Sebier and Ouery were undercapitalized
, and once they paid the many "charges & duties & presents" at Canton, they could not afford to continue the voyage to Boston. Thus, Vans and West purchased a cargo on Derby's behalf. The Grand Turk was one of five American ships and the first from Salem that reached Canton during the 1786 season. She arrived back in Salem harbor on 22 May 1787, the first New England ship to trade directly with China.
Initially, Derby, like most Americans, must have been optimistic about the trade with China. In 1789, there were at least sixteen American vessels at Canton. Derby owned four of these vessels — the Astrea, Atlantic, Light Horse and Three Sisters — although only the Astrea and the Three Sisters, instructed to work in tandem, going first to Batavia, and soliciting a freight there for Canton — initially planned to go to China. After the flurry of the 1789 season, no Salem ship called at Canton until 1797. A mere three years into the American China trade
, the market was glutted with tea
. In addition, the cost of doing business with the Chinese
and the length of the voyage seriously undermined profits.
After the return of the Astrea and the Light Horse in 1790, Derby never sent another ship to Canton. Meanwhile, he was conducting business at the Isle of France, Batavia, Sumatra
and India
, as well as maintaining an extensive commerce with Europe, the West Indies and Atlantic islands. Between 1786 and 1800, as many as one tenth of all American vessels touching at Mauritius were owned by Elias Hasket Derby. Most of these vessels were en route to or from other ports. In 1787, Elias Hasket Derby sent his son Hasket (Elias Jr.) to manage the firm's eastern trade from a base there. In 1788, Hasket traveled to Bombay with two ships and purchased a cargo of textile
s. Hasket continued to trade in India throughout the late 1780s, eventually returning home in 1791. The Derby's then entered the India textile trade in earnest, sending no fewer that five ships over the next four years.
Derby is often referred to as "King Derby" or as America's first millionaire
. However, it is improbable that Elias Hasket Derby was known as King Derby during his lifetime. Nathaniel Hawthorne
bestowed the title on him in The Scarlet Letter
(p. 4). As for being America's first millionaire, Derby was but one of a number of highly successful Massachusetts merchants of the period.
married Mary Derby, sister of Elias Hasket Derby, who married in 1761 Elizabeth Crowninshield, George Crownshield's sister. Their eldest daughter, Elizabeth, married (elope
d with) Captain Nathaniel West of Salem; their marriage ended in an ugly, very public divorce
in 1806 (West v. West). Elizabeth was awarded a great sum of alimony
, and moved to Danvers
, where she inherited a country seat from her father, Elias. Her sister, Anstiss Derby married merchant Benjamin Pickman. The son of Benjamin Pickman and Anstiss Derby was Hasket Derby Pickman, Harvard
Class of 1815, who died the same year he graduated from college.
Elias Hasket Derby's father, Richard Derby (1712–1783) second wife was Sarah Langley Hersey(1714–1790). She was the widow of Dr. Ezekiel Hersey of Hingham
, and married merchant Derby as her second husband. On his death, she used the large fortune left her by Derby to endow Derby Academy
in Hingham.
Merchant
A merchant is a businessperson who trades in commodities that were produced by others, in order to earn a profit.Merchants can be one of two types:# A wholesale merchant operates in the chain between producer and retail merchant...
s in Salem, Massachusetts
Salem, Massachusetts
Salem is a city in Essex County, Massachusetts, United States. The population was 40,407 at the 2000 census. It and Lawrence are the county seats of Essex County...
, and owner of the Grand Turk, the first New England
New England
New England is a region in the northeastern corner of the United States consisting of the six states of Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut...
vessel to trade directly with China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
.
Life and career
Born in Salem, he was the son of sea captain and merchant Richard Derby (1712–1783), but never went to sea. At a young age he entered the counting houseCounting house
A counting house, or compting house, literally is the building, room, office or suite in which a business firm carries on operations, particularly accounting. By a synecdoche, it has come to mean the accounting operations of a firm, however housed...
of his father and was in charge of bookkeeping
Bookkeeping
Bookkeeping is the recording of financial transactions. Transactions include sales, purchases, income, receipts and payments by an individual or organization. Bookkeeping is usually performed by a bookkeeper. Bookkeeping should not be confused with accounting. The accounting process is usually...
there from 1760 until the start of the Revolution
American Revolution
The American Revolution was the political upheaval during the last half of the 18th century in which thirteen colonies in North America joined together to break free from the British Empire, combining to become the United States of America...
. By 1760, Richard Derby had a fleet of at least thirteen vessels engaged in coastal, West Indian and Southern Atlantic trade
Trade
Trade is the transfer of ownership of goods and services from one person or entity to another. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and...
. The Derbys, like many in Salem at the start of the Revolution, both supported and profited from the Revolution. From all accounts, Elias Hasket Derby was heavily involved in equipping privateer
Privateer
A privateer is a private person or ship authorized by a government by letters of marque to attack foreign shipping during wartime. Privateering was a way of mobilizing armed ships and sailors without having to spend public money or commit naval officers...
s or had shares in as many of half the privateers (one hundred and fifty-eight in all) which hailed from Salem. The Derbys' Grand Turk, launched in May 1781, became Salem's largest and most successful privateer, capturing seventeen prizes between 1781 and 1782. Even before the close of the Revolution (Richard Derby died in 1783) Elias was trading on his own and in partnership with his brothers. By the time peace was declared, Derby's contemporaries claimed that in all of New England his fortune was second only to the Cabots
Cabot family
The Cabot family was part of the Boston Brahmin, also known as the "first families of Boston."-Family origin:The Boston Brahmin Cabot family descended from John Cabot , who immigrated from his birthplace to Salem, Massachusetts in 1700...
of Beverly
Beverly, Massachusetts
Beverly is a city in Essex County, Massachusetts, United States. The population was 39,343 on , which differs by no more than several hundred from the 39,862 obtained in the 2000 census. A resort, residential and manufacturing community on the North Shore, Beverly includes Beverly Farms and Prides...
.
In probably one of his many interactions with the privateers both out of Salem directly, of which there were many during the Revolutionary war, on August 19, 1776 Elias Hasket Derby acted as a proponent merchant agent on behalf of Commander/Captain Joseph White and his marines of the sloop
Sloop
A sloop is a sail boat with a fore-and-aft rig and a single mast farther forward than the mast of a cutter....
Revenge in a prize case regarding the capture of the brigantine
Brigantine
In sailing, a brigantine or hermaphrodite brig is a vessel with two masts, only the forward of which is square rigged.-Origins of the term:...
Anna Maria, a British vessel laden with a variety of goods.
Immediately following the war, coastal and international trade were depressed. The privateers built during the Revolution were substantially larger and faster than earlier Salem ships and represented a substantial resource which must now be converted to peacetime use. Derby was instrumental in initiating new trade with Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
, the Baltic
Baltic region
The terms Baltic region, Baltic Rim countries, and Baltic Rim refer to slightly different combinations of countries in the general area surrounding the Baltic Sea.- Etymology :...
, Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
and in 1784 with the East Indies
East Indies
East Indies is a term used by Europeans from the 16th century onwards to identify what is now known as Indian subcontinent or South Asia, Southeastern Asia, and the islands of Oceania, including the Malay Archipelago and the Philippines...
. Salem's pioneering of, and specialization in, the East Indian markets was responsible in large part for its remarkable, if temporary, prosperity.
In November 1784, Derby sent the Grand Turk under Capt. Jonathan Ingersoll to the Cape of Good Hope
Cape of Good Hope
The Cape of Good Hope is a rocky headland on the Atlantic coast of the Cape Peninsula, South Africa.There is a misconception that the Cape of Good Hope is the southern tip of Africa, because it was once believed to be the dividing point between the Atlantic and Indian Oceans. In fact, the...
. The voyage was successful, and in December 1785 the Grand Turk under Ebenezer West, master, and William Vans, supercargo, once again cleared Salem bound for the Cape. West and Vans arrived at the Cape of Good Hope after a passage of 82 days. They found the markets there less favorable than they had anticipated. Vans and West continued on to Mauritius
Mauritius
Mauritius , officially the Republic of Mauritius is an island nation off the southeast coast of the African continent in the southwest Indian Ocean, about east of Madagascar...
, at the time under French
French people
The French are a nation that share a common French culture and speak the French language as a mother tongue. Historically, the French population are descended from peoples of Celtic, Latin and Germanic origin, and are today a mixture of several ethnic groups...
control and recently opened as a way station to United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
vessels. The Grand Turk was apparently the first American vessel to call there.
http://www.awiatsea.com/Privateers/G/Grand%20Turk%20Massachusetts%20Ship%20%5BSimmons%20Pratt%5D.html
The original purpose of the Grand Turk was that of a privateer ship of 300 tons, and did so quite well capturing 25 ships and yielding great wealth from the sales.. Designed for speed and yet still having a good cargo capacity. Fitted with twenty-eight guns, the Grand Turk was built for the firm controlled by Elias Hasket Derby & wrought by Thomas Barstow at his Two Oaks yard in Hanover, Massachusetts and launched in May 1781. One of Derby’s captains, James Gibaut, was sent to Hanover to supervise the construction. It is of interest to note that she was largely paid for by barter, with goods (rum, butter) being exchanged for the labor and materials. The materials used for of the best quality and the Grand Turk was Copper bottomed.
Cargo
Cargo is goods or produce transported, generally for commercial gain, by ship, aircraft, train, van or truck. In modern times, containers are used in most intermodal long-haul cargo transport.-Marine:...
, offered a solution. They contracted with the Grand Turk to take a cargo to Canton
Guangzhou
Guangzhou , known historically as Canton or Kwangchow, is the capital and largest city of the Guangdong province in the People's Republic of China. Located in southern China on the Pearl River, about north-northwest of Hong Kong, Guangzhou is a key national transportation hub and trading port...
and thence onto Boston
Boston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...
. Vans and West wrote to Derby to inform him of the new plan, but he would have known of it only retrospectively. The deal, however, did not go off as planned. Sebier and Ouery were undercapitalized
Undercapitalization
Under-capitalization refers to any situation where a business cannot acquire the funds they need. An under-capitalized business may be one that cannot afford current operational expenses due to a lack of capital, which can trigger bankruptcy, may be one that is over-exposed to risk, or may be one...
, and once they paid the many "charges & duties & presents" at Canton, they could not afford to continue the voyage to Boston. Thus, Vans and West purchased a cargo on Derby's behalf. The Grand Turk was one of five American ships and the first from Salem that reached Canton during the 1786 season. She arrived back in Salem harbor on 22 May 1787, the first New England ship to trade directly with China.
Initially, Derby, like most Americans, must have been optimistic about the trade with China. In 1789, there were at least sixteen American vessels at Canton. Derby owned four of these vessels — the Astrea, Atlantic, Light Horse and Three Sisters — although only the Astrea and the Three Sisters, instructed to work in tandem, going first to Batavia, and soliciting a freight there for Canton — initially planned to go to China. After the flurry of the 1789 season, no Salem ship called at Canton until 1797. A mere three years into the American China trade
Old China Trade
The Old China Trade was the name given to the early commerce between the Qing Empire and the United States under the Canton System, spanning from shortly after the end of the American Revolutionary War in 1783 to the Treaty of Wanghsia in 1844...
, the market was glutted with tea
Tea
Tea is an aromatic beverage prepared by adding cured leaves of the Camellia sinensis plant to hot water. The term also refers to the plant itself. After water, tea is the most widely consumed beverage in the world...
. In addition, the cost of doing business with the Chinese
Chinese people
The term Chinese people may refer to any of the following:*People with Han Chinese ethnicity ....
and the length of the voyage seriously undermined profits.
After the return of the Astrea and the Light Horse in 1790, Derby never sent another ship to Canton. Meanwhile, he was conducting business at the Isle of France, Batavia, Sumatra
Sumatra
Sumatra is an island in western Indonesia, westernmost of the Sunda Islands. It is the largest island entirely in Indonesia , and the sixth largest island in the world at 473,481 km2 with a population of 50,365,538...
and India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, as well as maintaining an extensive commerce with Europe, the West Indies and Atlantic islands. Between 1786 and 1800, as many as one tenth of all American vessels touching at Mauritius were owned by Elias Hasket Derby. Most of these vessels were en route to or from other ports. In 1787, Elias Hasket Derby sent his son Hasket (Elias Jr.) to manage the firm's eastern trade from a base there. In 1788, Hasket traveled to Bombay with two ships and purchased a cargo of textile
Textile
A textile or cloth is a flexible woven material consisting of a network of natural or artificial fibres often referred to as thread or yarn. Yarn is produced by spinning raw fibres of wool, flax, cotton, or other material to produce long strands...
s. Hasket continued to trade in India throughout the late 1780s, eventually returning home in 1791. The Derby's then entered the India textile trade in earnest, sending no fewer that five ships over the next four years.
Derby is often referred to as "King Derby" or as America's first millionaire
Millionaire
A millionaire is an individual whose net worth or wealth is equal to or exceeds one million units of currency. It can also be a person who owns one million units of currency in a bank account or savings account...
. However, it is improbable that Elias Hasket Derby was known as King Derby during his lifetime. Nathaniel Hawthorne
Nathaniel Hawthorne
Nathaniel Hawthorne was an American novelist and short story writer.Nathaniel Hawthorne was born in 1804 in the city of Salem, Massachusetts to Nathaniel Hathorne and the former Elizabeth Clarke Manning. His ancestors include John Hathorne, a judge during the Salem Witch Trials...
bestowed the title on him in The Scarlet Letter
The Scarlet Letter
The Scarlet Letter is an 1850 romantic work of fiction in a historical setting, written by Nathaniel Hawthorne. It is considered to be his magnum opus. Set in 17th-century Puritan Boston during the years 1642 to 1649, it tells the story of Hester Prynne, who conceives a daughter through an...
(p. 4). As for being America's first millionaire, Derby was but one of a number of highly successful Massachusetts merchants of the period.
Family
The early merchant barons of Salem intermarried endlessly. George CrowninshieldCrowninshield family
The Crowninshield family is an American family that has been prominent in seafaring, political and military leadership, and the literary world. The founder of the American family immigrated in the late 17th century from what is now Germany...
married Mary Derby, sister of Elias Hasket Derby, who married in 1761 Elizabeth Crowninshield, George Crownshield's sister. Their eldest daughter, Elizabeth, married (elope
Elope
To elope, most literally, merely means to run away with a girl and to not come back to the point of origination. More specifically, elopement is often used to refer to a marriage conducted in sudden and secretive fashion, usually involving hurried flight away from one's place of residence together...
d with) Captain Nathaniel West of Salem; their marriage ended in an ugly, very public divorce
Divorce
Divorce is the final termination of a marital union, canceling the legal duties and responsibilities of marriage and dissolving the bonds of matrimony between the parties...
in 1806 (West v. West). Elizabeth was awarded a great sum of alimony
Alimony
Alimony is a U.S. term denoting a legal obligation to provide financial support to one's spouse from the other spouse after marital separation or from the ex-spouse upon divorce...
, and moved to Danvers
Danvers, Massachusetts
Danvers is a town in Essex County, Massachusetts, United States. Located on the Danvers River near the northeastern coast of Massachusetts, Danvers is most widely known for its association with the 1692 Salem witch trials, and for its famous asylum, the Danvers State Hospital.-17th century:The land...
, where she inherited a country seat from her father, Elias. Her sister, Anstiss Derby married merchant Benjamin Pickman. The son of Benjamin Pickman and Anstiss Derby was Hasket Derby Pickman, Harvard
Harvard College
Harvard College, in Cambridge, Massachusetts, is one of two schools within Harvard University granting undergraduate degrees...
Class of 1815, who died the same year he graduated from college.
Elias Hasket Derby's father, Richard Derby (1712–1783) second wife was Sarah Langley Hersey(1714–1790). She was the widow of Dr. Ezekiel Hersey of Hingham
Hingham, Massachusetts
Hingham is a town in northern Plymouth County on the South Shore of the U.S. state of Massachusetts and suburb in Greater Boston. The United States Census Bureau 2008 estimated population was 22,561...
, and married merchant Derby as her second husband. On his death, she used the large fortune left her by Derby to endow Derby Academy
Derby Academy
Derby Academy is an elementary and middle school that offers a coeducational curriculum to Pre-Kindergarten through 8th grade. It is located near Route 3A and Broad Cove in Hingham, Massachusetts...
in Hingham.
External links
- Short biography from Infoplease
- 1893 Biographical Sketch