Thomas Eddy
Encyclopedia
Thomas Eddy was an American merchant, banker, philanthropist and politician from New York
.
. When thirteen years old, Eddy was apprenticed to learn the tanning
business in Burlington, New Jersey
but remained there only two years.
, and became a merchant, dealing mostly in imported goods which were shipped from England
and Ireland
by his brother Charles. In 1781, he earned a large amount by the remittance of money from the British headquarters in New York to the troops under General Cornwallis who were held prisoners at Lancaster, Pennsylvania
, after the fall of Yorktown.
In 1782, Eddy married Hannah Hartshorne at New York City. Afterward, he returned to Philadelphia and formed a partnership with his brother George. In the wake of the commercial crisis in the middle of the 1780s, he and his brothers George and Charles went bankrupt. He removed to New York City again, and became the first insurance broker
there, and later an underwriter, speculating in public funds. He became thus a director of the Mutual Insurance Company, and the Western Inland Lock Navigation Company. In 1803, he was one of the founders of the New York Savings Bank
.
, whipping posts, pillories
and solitary confinement
. In 1796, Eddy helped State Senators Philip Schuyler
and Ambrose Spencer
to draft a bill which established the penitentiary system. The bill was passed and Eddy was appointed to the Commission which put it in practice. He was chosen to oversee the construction of the first State Prison, located in Greenwich Village
, better known as the old "Newgate" Prison, and became its first Director, from 1797 to 1801. He also urged the State Legislature to build facilities for the mentally ill.
to Lake Ontario. When he found his company in financial trouble, he drew upon the idea first proposed by Joshua Forman (member of the New York State Assembly from Onondaga County in 1808) of building a canal, rather than trying to navigate the rivers. He turned to his friend Jonas Platt
, then a State Senator and leader of the Federalists in New York, and the two of them decided to propose the creation of a Commission to explore two possible routes of a canal – either to Lake Ontario
or to Lake Erie
. They would report their findings to the New York State Legislature after their expedition to the west. On March 13, 1810, Platt presented his project for a bipartisan Canal Commission
to the State Legislature, and received overwhelming support, and Eddy was appointed one of the Commissioners. The Erie Canal
was eventually opened in 1825.
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
.
Early life
He was the son of Irish Quaker immigrants who had come to America about five years prior to his birth. His father was engaged in the shipping business until 1766 when he went into hardware, but died later the same year. A few years later, the family removed to Bucks County, PennsylvaniaBucks County, Pennsylvania
- Industry and commerce :The boroughs of Bristol and Morrisville were prominent industrial centers along the Northeast Corridor during World War II. Suburban development accelerated in Lower Bucks in the 1950s with the opening of Levittown, Pennsylvania, the second such "Levittown" designed by...
. When thirteen years old, Eddy was apprenticed to learn the tanning
Tanning
Tanning is the making of leather from the skins of animals which does not easily decompose. Traditionally, tanning used tannin, an acidic chemical compound from which the tanning process draws its name . Coloring may occur during tanning...
business in Burlington, New Jersey
Burlington, New Jersey
Burlington is a city in Burlington County, New Jersey, United States and a suburb of Philadelphia. As of the 2010 United States Census, the city population was 9,920....
but remained there only two years.
Business career
In September 1779, Eddy removed to New York CityNew 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...
, and became a merchant, dealing mostly in imported goods which were shipped from England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
and Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
by his brother Charles. In 1781, he earned a large amount by the remittance of money from the British headquarters in New York to the troops under General Cornwallis who were held prisoners at Lancaster, Pennsylvania
Lancaster, Pennsylvania
Lancaster is a city in the south-central part of the Commonwealth of Pennsylvania. It is the county seat of Lancaster County and one of the older inland cities in the United States, . With a population of 59,322, it ranks eighth in population among Pennsylvania's cities...
, after the fall of Yorktown.
In 1782, Eddy married Hannah Hartshorne at New York City. Afterward, he returned to Philadelphia and formed a partnership with his brother George. In the wake of the commercial crisis in the middle of the 1780s, he and his brothers George and Charles went bankrupt. He removed to New York City again, and became the first insurance broker
Insurance broker
An insurance broker finds sources for contracts of insurance on behalf of their customers. The three largest insurance brokers in the world, by revenue, are Aon, Marsh & McLennan, and Willis Group Holdings.-Purpose of insurance brokers:...
there, and later an underwriter, speculating in public funds. He became thus a director of the Mutual Insurance Company, and the Western Inland Lock Navigation Company. In 1803, he was one of the founders of the New York Savings Bank
New York Savings Bank
The New York Savings Bank building in Manhattan was built in 1896 by Robert Henderson Robertson with George Provot, and was added to the National Register of Historic Places on January 7, 2000. In 2005 it became a Balducci's food market. By 2011 it was turned into a CVS pharmacy.-See also:*National...
.
Political career
Eddy had been engaged in charitable work, was elected a governor of the New York Hospital in 1793, and became interested in the reform of the penal laws. He advocated the abolition of brandingHuman branding
Human branding or stigmatizing is the process in which a mark, usually a symbol or ornamental pattern, is burned into the skin of a living person, with the intention that the resulting scar makes it permanent. This is performed using a hot or very cold branding iron...
, whipping posts, pillories
Pillory
The pillory was a device made of a wooden or metal framework erected on a post, with holes for securing the head and hands, formerly used for punishment by public humiliation and often further physical abuse, sometimes lethal...
and solitary confinement
Solitary confinement
Solitary confinement is a special form of imprisonment in which a prisoner is isolated from any human contact, though often with the exception of members of prison staff. It is sometimes employed as a form of punishment beyond incarceration for a prisoner, and has been cited as an additional...
. In 1796, Eddy helped State Senators Philip Schuyler
Philip Schuyler
Philip John Schuyler was a general in the American Revolution and a United States Senator from New York. He is usually known as Philip Schuyler, while his son is usually known as Philip J. Schuyler.-Early life:...
and Ambrose Spencer
Ambrose Spencer
Ambrose Spencer was an American lawyer and politician.-Life:He attended Yale College from 1779 to 1782, and graduated from Harvard University in 1783...
to draft a bill which established the penitentiary system. The bill was passed and Eddy was appointed to the Commission which put it in practice. He was chosen to oversee the construction of the first State Prison, located in Greenwich Village
Greenwich Village
Greenwich Village, , , , .in New York often simply called "the Village", is a largely residential neighborhood on the west side of Lower Manhattan in New York City. A large majority of the district is home to upper middle class families...
, better known as the old "Newgate" Prison, and became its first Director, from 1797 to 1801. He also urged the State Legislature to build facilities for the mentally ill.
Erie Canal
In 1797, Eddy was appointed Treasurer of the Western Inland Lock Navigation Company, which had been established in 1792 with the purpose of developing a navigable route up the Mohawk RiverMohawk River
The Mohawk River is a river in the U.S. state of New York. It is the largest tributary of the Hudson River. The Mohawk flows into the Hudson in the Capital District, a few miles north of the city of Albany. The river is named for the Mohawk Nation of the Iroquois Confederacy...
to Lake Ontario. When he found his company in financial trouble, he drew upon the idea first proposed by Joshua Forman (member of the New York State Assembly from Onondaga County in 1808) of building a canal, rather than trying to navigate the rivers. He turned to his friend Jonas Platt
Jonas Platt
Jonas Platt was an American lawyer and politician from New York. He was a member of the United States House of Representatives.-Life:...
, then a State Senator and leader of the Federalists in New York, and the two of them decided to propose the creation of a Commission to explore two possible routes of a canal – either to Lake Ontario
Lake Ontario
Lake Ontario is one of the five Great Lakes of North America. It is bounded on the north and southwest by the Canadian province of Ontario, and on the south by the American state of New York. Ontario, Canada's most populous province, was named for the lake. In the Wyandot language, ontarío means...
or to Lake Erie
Lake Erie
Lake Erie is the fourth largest lake of the five Great Lakes in North America, and the tenth largest globally. It is the southernmost, shallowest, and smallest by volume of the Great Lakes and therefore also has the shortest average water residence time. It is bounded on the north by the...
. They would report their findings to the New York State Legislature after their expedition to the west. On March 13, 1810, Platt presented his project for a bipartisan Canal Commission
Erie Canal Commission
The New York State Legislature appointed in 1810 a Commission to Explore a Route for a Canal to Lake Erie, and Report which became known as the Erie Canal Commission...
to the State Legislature, and received overwhelming support, and Eddy was appointed one of the Commissioners. The Erie Canal
Erie Canal
The Erie Canal is a waterway in New York that runs about from Albany, New York, on the Hudson River to Buffalo, New York, at Lake Erie, completing a navigable water route from the Atlantic Ocean to the Great Lakes. The canal contains 36 locks and encompasses a total elevation differential of...
was eventually opened in 1825.
Sources
- Bio in Lives of American Merchants by Freeman Hunt (Derby & Jackson, New York, 1858; pages 329ff)
- http://www.correctionhistory.org/html/chronicl/nycdoc/html/penitentiary2.html "Newgate" Prison, at Correctional History
- The New York Civil List compiled by Franklin Benjamin Hough (page 40; Weed, Parsons and Co., 1858)