When the Founding Fathers signed the Declaration of Independence in July 1776, they pledged their “lives, fortunes, and sacred honor” to a war for independence. But what were those fortunes, and how did they shape the conflict? This article examines five key Founders—Benjamin Franklin, George Washington, John Hancock, Robert Morris, and Thomas Jefferson—whose wealth and financial networks helped sustain the Revolution. Yet their stories cannot be fully understood without acknowledging the Native nations whose lands, alliances, and economies were deeply entangled with the war’s outcome.
Benjamin Franklin: Printer, Land Speculator, and Diplomat
Benjamin Franklin, the tenth son of a soap maker, built his wealth through printing, publishing The Pennsylvania Gazette and Poor Richard’s Almanack, and investing in Philadelphia rental properties and western land speculation. By his early 40s, he was one of the wealthiest Americans, earning an aggregate income of £2,000 a year (about $300,000 today). During the Revolution, Franklin served as a diplomat in France, securing military and financial support. When the British captured Philadelphia, they trashed his rental properties and looted his home. After the war, Franklin received a diamond-encrusted snuffbox from Louis XVI, valued around $270,000 today, which he kept with congressional approval to pass to his daughter.
Native Lands and Franklin’s Speculation
Franklin’s land speculation in the west often encroached on Native territories. His involvement in the Proclamation of 1763, which sought to limit colonial expansion west of the Appalachians, reflected the tension between colonial ambitions and Native sovereignty. The Revolutionary War itself opened vast Native lands to American settlement, a process Franklin’s investments indirectly supported.
George Washington: Land Baron and Commander-in-Chief
George Washington amassed over 50,000 acres through shrewd speculation in frontier lands and marriage to Martha Custis, a wealthy widow. At Mount Vernon, he diversified into wheat and a profitable whiskey distillery. During the Revolution, Washington refused a salary but meticulously recorded expenses totaling $160,074 (about $5 million today), including paying a network of 500 spies. War devastated his finances: British raiders took livestock and 17 enslaved workers, and he lost half his net worth. Postwar, he struggled to collect rents from frontier lands—many of which were Native territories.
The Ohio Country and Native Dispossession
Washington’s land holdings in the Ohio Valley were contested by Native nations, including the Shawnee, Delaware, and Iroquois. The Treaty of Fort Stanwix (1784) and other postwar treaties forced Native cessions that benefited speculators like Washington. These agreements, often made under duress, laid the groundwork for future conflicts such as the Battle of Fallen Timbers and the Treaty of Greenville.
John Hancock: Merchant Prince and Patron of Liberty
John Hancock, adopted by a wealthy Boston merchant, expanded the family import-export business to include shipbuilding and retail stores. He employed hundreds and used his wealth to bankroll the independence movement, spending at least £100,000 outfitting an artillery company. After the Boston Tea Party, he shipped all his tea back to England at his own expense. Elected president of the Second Continental Congress, he was the first to sign the Declaration. Hancock’s fortune, built on trade that included goods from Native-inhabited regions, indirectly tied him to colonial economic systems that marginalized Native producers.
Trade, Boycotts, and Native Economies
Hancock’s merchant network dealt in whale oil and consumer goods, some of which were traded with Native communities. The boycotts he organized against British goods also affected Native traders who had adapted to European markets. The Revolution disrupted longstanding Native trade networks, pushing many nations toward alliances with Britain or the new United States.
Robert Morris: Financier of the Revolution
Robert Morris, one of America’s early millionaires, was the chief financier of the Revolution. Born illegitimately in Maryland, he became a partner in a Philadelphia trading house, growing rich on Chesapeake tobacco—a crop cultivated largely by enslaved labor on lands taken from Native peoples. As superintendent of finance, Morris established the first Bank of the United States and personally signed 6,000 notes stamped “Public Debt” to pay troops. Postwar speculation in frontier lands bankrupted him, leading to three years in debtors’ prison.
Financial Networks and Native Lands
Morris’s financial schemes relied on land speculation that often targeted Native territories. His investments in western lands, like those of many Founders, contributed to the pressure that led to Native dispossession. The new nation’s credit, built on Morris’s private fortune, was ultimately backed by the promise of western expansion into Native homelands.
Thomas Jefferson: Philosopher, Debtor, and Architect of Expansion
Thomas Jefferson, orphaned at 11, studied law but found it unprofitable. He married Martha Skelton, a wealthy widow, and embarked on a lifelong spending spree, building Monticello and accumulating debt. He wrote the Declaration of Independence with little concern for Native rights, and as president, he pursued policies of Native removal and assimilation. His Notes on the State of Virginia (1785) contained derogatory views of Native peoples.
Jefferson’s Indian Policy and Legacy
Jefferson’s Louisiana Purchase (1803) doubled the nation’s size and set the stage for westward expansion into Native lands. His “civilization program” pressured Native nations to abandon traditional lifeways, while his refusal to recognize tribal sovereignty fueled conflicts. The Trail of Tears and other removals were rooted in policies Jefferson helped shape.
Historical Context & Key Cultural Takeaways
The Founders’ fortunes were built on systems that frequently exploited or displaced Native nations. Land speculation, trade, and agricultural expansion all relied on access to Native territories, often secured through treaties of dubious legality. The Revolution’s financial demands accelerated Native dispossession, as both the British and Americans courted Native allies with promises that were rarely kept. Understanding these economic dimensions is crucial to a full account of the era—one that honors Native resilience and sovereignty.
In-Depth FAQ
How did the Founding Fathers’ wealth affect Native American nations?
Their wealth often depended on land speculation and trade that encroached on Native territories, leading to treaties that forced land cessions and fueled conflicts. The Revolution created a power vacuum that allowed Americans to push westward, disregarding Native sovereignty.
Did any Founder advocate for Native rights?
While some expressed paternalistic concern, most prioritized American expansion. Benjamin Franklin, for instance, admired certain aspects of Native governance, yet his land speculation contradicted Native interests. No major Founder consistently defended Native sovereignty.
What role did Native nations play in the Revolution?
Many Native nations allied with Britain, hoping to protect their lands from American expansion. Others remained neutral or allied with the Americans, but all faced devastating consequences regardless of allegiance. The war deepened divisions and led to further land loss.
How were Native lands acquired after the Revolution?
Through treaties like Fort Stanwix (1784) and Greenville (1795), often negotiated under pressure or with factions lacking authority. These treaties opened vast areas to settlement and speculation, benefiting Founders like Washington and Morris.
Where can I learn more about Native history during this period?
Explore resources on the Iroquois Confederacy and the French and Indian War, which set the stage for the Revolution’s impact on Native nations.
Concluding Synthesis: Cultural Legacy and Modern Preservation
The Founders’ financial stories are inseparable from the dispossession of Native peoples. Their fortunes, built on land and trade, came at a tremendous cost to Indigenous nations. Today, tribal sovereignty movements and land-back initiatives seek to address these historical injustices. Recognizing the full context of the American Revolution—including its Native dimensions—is essential for an honest reckoning with the past.
Tribal & Historical Heritage Reference: The Haudenosaunee Confederacy, Shawnee, Delaware, and Cherokee nations were among those most directly affected by the Revolutionary era’s land policies. For further reading, see the history of wampum as diplomatic material.
