Duer, William, 1747-1799
Biographical notes:
William Duer (March 18, 1743 – May 7, 1799) was a British-born American lawyer, developer, and speculator from New York City. A Federalist, Duer wrote in support of ratifying the United States Constitution as "Philo-Publius". He had earlier served in the Continental Congress and the convention that framed the New York Constitution. In 1778, he signed the United States Articles of Confederation and is one of the Founding Fathers of the United States.
Born in the county of Devon in England, Duer was educated at Eton College, and while still under age, was put into the army as ensign. He accompanied Robert Clive as aide-de-camp on his return to India as governor general in 1762. He suffered severely from the climate, so Lord Clive sent him back to England, where he remained five years until his father's death, upon which he inherited his father's estates in Dominica. He traveled to New York State, for the first time in 1768, to arrange for a regular and constant supply of lumber for his plantations in Antigua and Dominica. As a planter, he traded extensively with Philip Schuyler, who persuaded him to move to New York early in the 1770s. On a previous trip to the area, Duer had purchased tracts of land on the upper Hudson River near Albany. The area, known as Fort Miller, served both as Duer's first residence and as the site of his early financial ventures. Duer set up sawmills, warehouses, and a store. By 1776, had built a moderately successful mercantile business based primarily on lumber production.
Duer was originally a moderate Whig, somewhat reluctant to become involved in active resistance to the British government. But he became a member of the Provincial Congress in 1775; he was one of the committee which drafted the original New York Constitution the next year. Duer was a member of the 1st New York State Legislature, serving in the New York State Senate for the Eastern District from September 9, 1777 to June 30, 1778. He served as a member of the Continental Congress in 1778 and 1779. In 1779, Duer returned to private business.
Duer became a prominent speculator after the war; he was also elected to the New York General Assembly in 1786. When Alexander Hamilton, Schuyler's son-in-law, became first Secretary of the Treasury in 1789, Duer became the first Assistant Secretary. He continued to speculate in American bonds, including the failed Scioto Company scheme to buy up the American debt to France at a discount. Duer went bankrupt as a result of the Panic of 1792, and was held in debtors' prison for the rest of his life. Initially buried in the family vault under the old church of St. Thomas, he was later reinterred in Jamaica, Long Island, New York.
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Information
Subjects:
- American loyalists
- Debt, Imprisonment for
- Distilleries
- Finance
- Jails
- Land companies
- Land settlement
- Lumber trade
- Real estate investment
- Sawmills
- Speculation
Occupations:
- Army officers
- Delegates, U.S. Continental Congress
- Federal Government Official
- Financiers
- Jurists
- Mill owners
- Planter
Places:
- NY, US
- Devon, ENG, GB
- Paterson, NJ, US
- Antigua and Barbuda, 00, AG
- Fishkill, NY, US
- Berkshire, ENG, GB
- Dominica, 00, DM
- New York City, NY, US
