Jacob Barker
Encyclopedia
Jacob Barker was an American
financier
and lawyer
.
He was born in Swan Island
, Maine
, in 1779, of Quaker
parentage. He went to New York
at the age of 16, engaged in trade, and soon amassed a considerable fortune. Beginning in 1811, Fitz-Greene Halleck
was employed by him for twenty years. Early in the War of 1812
he was instrumental in securing a loan of $5,000,000 for the national government. In 1815, he founded the Exchange Bank of New York. He was a member of the New York State Senate
in 1816
. Subsequently he became interested in many other large financial institutions in the city, including the Life and Fire Insurance Company, on the failure of which in 1826 he, with a number of others, was arrested on a charge of conspiracy
to defraud. At first he acted as his own lawyer, however, eventually eminent attorneys Benjamin F. Butler
and Thomas Addis Emmet
(1764–1827) were counsels for his defense. The jury
disagreed on the first trial and convicted Barker on the second trial; but an appeal was granted and the indictment
was finally quashed.
He removed to New Orleans
in 1834, became prominent in financial circles, was admitted to the bar
, and practiced with success in insurance
cases. In the 1840s he collaborated with Rowland G. Hazard
to secure the release of free African-Americanss who were being illegally detained in Louisiana under the assumption they were escaped slave
s. At the close of the American Civil War
he was elected to the United States Senate
, but Louisiana
not having been readmitted to the Union
, he was not allowed to take his seat. In 1867 he was declared bankrupt
and spent the last few years of his life with his son in Philadelphia
.
Barker published The Rebellion:
Its Consequences and the Congressional Committee, Denominated the Reconstruction Committee, with their Action (1866).
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
financier
Financier
Financier is a term for a person who handles typically large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. The term is French, and derives from finance or payment...
and lawyer
Lawyer
A lawyer, according to Black's Law Dictionary, is "a person learned in the law; as an attorney, counsel or solicitor; a person who is practicing law." Law is the system of rules of conduct established by the sovereign government of a society to correct wrongs, maintain the stability of political...
.
He was born in Swan Island
Swan's Island, Maine
Swan's Island is an island town in Hancock County, Maine, United States. It is named after Colonel James Swan of Fife, Scotland, who purchased this island and some surrounding areas and organized their colonization in the 18th century. The population was 327 at the 2000 census. The town is...
, Maine
Maine
Maine is a state in the New England region of the northeastern United States, bordered by the Atlantic Ocean to the east and south, New Hampshire to the west, and the Canadian provinces of Quebec to the northwest and New Brunswick to the northeast. Maine is both the northernmost and easternmost...
, in 1779, of Quaker
Religious Society of Friends
The Religious Society of Friends, or Friends Church, is a Christian movement which stresses the doctrine of the priesthood of all believers. Members are known as Friends, or popularly as Quakers. It is made of independent organisations, which have split from one another due to doctrinal differences...
parentage. He went to New York
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
at the age of 16, engaged in trade, and soon amassed a considerable fortune. Beginning in 1811, Fitz-Greene Halleck
Fitz-Greene Halleck
Fitz-Greene Halleck was an American poet notable for his satires and as one of the Knickerbocker Group. Born and reared in Guilford, Connecticut, he went to New York City at the age of 20, and lived and worked there for nearly four decades. He was sometimes called "the American Byron"...
was employed by him for twenty years. Early in the War of 1812
War of 1812
The War of 1812 was a military conflict fought between the forces of the United States of America and those of the British Empire. The Americans declared war in 1812 for several reasons, including trade restrictions because of Britain's ongoing war with France, impressment of American merchant...
he was instrumental in securing a loan of $5,000,000 for the national government. In 1815, he founded the Exchange Bank of New York. He was a member of the New York State Senate
New York State Senate
The New York State Senate is one of two houses in the New York State Legislature and has members each elected to two-year terms. There are no limits on the number of terms one may serve...
in 1816
39th New York State Legislature
The 39th New York State Legislature, consisting of the New York State Senate and the New York State Assembly, met from January 30 to April 17, 1816, during the ninth year of Daniel D...
. Subsequently he became interested in many other large financial institutions in the city, including the Life and Fire Insurance Company, on the failure of which in 1826 he, with a number of others, was arrested on a charge of conspiracy
Conspiracy (crime)
In the criminal law, a conspiracy is an agreement between two or more persons to break the law at some time in the future, and, in some cases, with at least one overt act in furtherance of that agreement...
to defraud. At first he acted as his own lawyer, however, eventually eminent attorneys Benjamin F. Butler
Benjamin Franklin Butler (lawyer)
Benjamin Franklin Butler was a lawyer, legislator and Attorney General of the United States.-Early life:...
and Thomas Addis Emmet
Thomas Addis Emmet
Thomas Addis Emmet was an Irish and American lawyer and politician. He was a senior member of the revolutionary republican group United Irishmen in the 1790s and New York State Attorney General 1812–1813.-Background:...
(1764–1827) were counsels for his defense. The jury
Jury
A jury is a sworn body of people convened to render an impartial verdict officially submitted to them by a court, or to set a penalty or judgment. Modern juries tend to be found in courts to ascertain the guilt, or lack thereof, in a crime. In Anglophone jurisdictions, the verdict may be guilty,...
disagreed on the first trial and convicted Barker on the second trial; but an appeal was granted and the indictment
Indictment
An indictment , in the common-law legal system, is a formal accusation that a person has committed a crime. In jurisdictions that maintain the concept of felonies, the serious criminal offence is a felony; jurisdictions that lack the concept of felonies often use that of an indictable offence—an...
was finally quashed.
He removed to New Orleans
New Orleans, Louisiana
New Orleans is a major United States port and the largest city and metropolitan area in the state of Louisiana. The New Orleans metropolitan area has a population of 1,235,650 as of 2009, the 46th largest in the USA. The New Orleans – Metairie – Bogalusa combined statistical area has a population...
in 1834, became prominent in financial circles, was admitted to the bar
Bar association
A bar association is a professional body of lawyers. Some bar associations are responsible for the regulation of the legal profession in their jurisdiction; others are professional organizations dedicated to serving their members; in many cases, they are both...
, and practiced with success in insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
cases. In the 1840s he collaborated with Rowland G. Hazard
Rowland G. Hazard
Rowland Gibson Hazard was an American industrialist, politician, and social reformer.-Early life:Hazard was born in South Kingstown, Rhode Island in 1801. His parents were Rowland Hazard , founder in 1802 of the Peace Dale Manufacturing Company in Peace Dale, Rhode Island, and the former Mary Peace...
to secure the release of free African-Americanss who were being illegally detained in Louisiana under the assumption they were escaped slave
Slavery
Slavery is a system under which people are treated as property to be bought and sold, and are forced to work. Slaves can be held against their will from the time of their capture, purchase or birth, and deprived of the right to leave, to refuse to work, or to demand compensation...
s. At the close of the American Civil War
American Civil War
The American Civil War was a civil war fought in the United States of America. In response to the election of Abraham Lincoln as President of the United States, 11 southern slave states declared their secession from the United States and formed the Confederate States of America ; the other 25...
he was elected to the United States Senate
United States Senate
The United States Senate is the upper house of the bicameral legislature of the United States, and together with the United States House of Representatives comprises the United States Congress. The composition and powers of the Senate are established in Article One of the U.S. Constitution. Each...
, but Louisiana
Louisiana
Louisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...
not having been readmitted to the Union
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, he was not allowed to take his seat. In 1867 he was declared bankrupt
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
and spent the last few years of his life with his son in Philadelphia
Philadelphia, Pennsylvania
Philadelphia is the largest city in the Commonwealth of Pennsylvania and the county seat of Philadelphia County, with which it is coterminous. The city is located in the Northeastern United States along the Delaware and Schuylkill rivers. It is the fifth-most-populous city in the United States,...
.
Barker published The Rebellion:
American Civil War
The American Civil War was a civil war fought in the United States of America. In response to the election of Abraham Lincoln as President of the United States, 11 southern slave states declared their secession from the United States and formed the Confederate States of America ; the other 25...
Its Consequences and the Congressional Committee, Denominated the Reconstruction Committee, with their Action (1866).