U.S. History

                    

                    Not Satisfied! Wanting More!

Robert Morris financed the American Revolutionary War on credit. He controlled the tobacco market and a vast banking and shipping empire. He wanted more. His thirst for more money led him to a scheme to build a large town along the Potomac River. The land was cheap, a town could be developed, and lots could be sold at prices that would yield astronomical profits. 

His problem was that he needed more capital. He decided to enlist Light-Horse Harry Lee, the father of General Robert E. Lee, to help finance the project. 

Light Horse Harry Lee was known as a brilliant general in the Revolutionary War, a governor of Virginia, and a member of Congress. He said the famous words at George Washington's funeral, "irst in war, first in peace, and first in the hearts of his countrymen."

Light Horse Harry Lee invested his entire family fortune.

It turns out that a technicality prevented the land titles from being obtained. (I have no idea what the technicality was.)

Mr. Morris and Mr. Lee were sent to a debtor's prison.

Congress acted and passed the Bankruptcy Act in 1800. This allowed Morris and Lee to go free. Morris died soon after his release, but Lee was humiliated at home. He abandoned his family and went to the West Indies. In 1818, he decided to return home, but he was stricken with typhoid fever and died at sea. The ship's crew buried him on Cumberland Island, Georgia.

Resource: Shocking Secrets of American History by Bill Coate