Gracie, Archibald, 1755-1829

Archibald Gracie emigrated from his native Scotland to Petersburg, Va. and then finally settled in New York City where he became a successful shipping magnate. Gracie purchased land along the East River and in 1799 built a Federal style mansion that today is the home of the mayor of New York. Gracie entertained on a grand scale, counting among his guests Louis Philippe, John Quincy Adams, Lafayette, and Washington Irving. Unfortunately, the War of 1812 caused Gracie's financial ruin. Debts due to shipping embargoes and unpaid claims forced him to dissolve his firm and liquidate assets in 1823. In addition to being known as a shipper and a banker, Gracie was an early proponent of public school education.