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Condy Raguet
Condy Raguet (January 28, 1784 – March 22, 1842) was the first chargé d'affaires from the United States to Brazil and a noted politician and free trade advocate from Philadelphia, Pennsylvania. Of French descent, Raguet was educated at the University of Pennsylvania. After graduating he began studying law but had to give up his studies after the death of his father. He briefly worked as supercargo for a counting house, before going into business for himself. He later worked as manager or president for several companies, the most notable being the Philadelphia Savings Fund Society. In 1816 Raguet read about the growth of savings banks in Great Britain and liked the idea; he approached other Philadelphia business associates and together they created the Society, the first savings bank in the United States.
As a member of the Federalist Party Raguet was elected to the Pennsylvania House of Representatives in 1815 and to the Pennsylvania State Senate in 1818. In 1821 President James Monroe made Raguet consul to Brazil. After Brazil became independent, President John Quincy Adams made Raguet the chargé d'affaires to Brazil. In this post, Raguet became increasingly frustrated with Brazil's lack of response to complaints by the United States of its citizens being forced to work on Brazilian warships against their will. Raguet's communications with the Brazilian government became increasingly forceful and undiplomatic to the point that he once wrote to the U.S. State Department that he was so frustrated he could hardly consider the Brazilians a civilized people. Despite urges from Washington, D.C. to improve his approach to Brazil, Raguet abruptly left the country after the Imperial Brazilian Navy seized a former U.S. warship. Adams would later write that, despite having good intentions, Raguet's "rashness and intemperance" nearly "brought this country and Brazil to the very verge of war."
After Adams rejected any possibility of Raguet's returning to diplomatic work, Raguet returned to business in Philadelphia. Having his economic views shaped by the Panic of 1819, he became one of the most prominent advocates of free trade in the United States. He edited numerous journals relating to free trade and wrote and published works on the subject. The most notable was On Currency and Banking; published in 1839, Samuel J. Tilden called it "the best treatise on banking ever published in the country".
Condy Raguet was born on January 28, 1784, in Philadelphia, Pennsylvania. Of French descent, Raguet was educated at the University of Pennsylvania and for eighteen months after graduating he studied law. He had to give up his studies after the death of his father and became a merchant for a counting house. In 1804 he was sent to Santo Domingo as supercargo for a ship. He spent four months there and on his return he wrote and published A Short Account of the Present State of Affairs in St. Domingo. Raguet returned for eight months in 1805 and again published a book about events on the island. On December 23, 1807, Raguet was married to Catherine S. Simmons.
In 1806, Raguet went into business and soon became the president and manager of several companies. During the War of 1812 he served as a colonel and took a prominent role in preparing defenses for Philadelphia. In 1815 Raguet went into politics when he was elected to the Pennsylvania House of Representatives as a member of the Federalist Party. In 1818 he was elected to the Pennsylvania State Senate for the 1st district, a position he held until 1821.
He was elected to the American Philosophical Society in 1822.
In 1816, while president of the Pennsylvania Company for Insurances on Lives and Granting Annuities, Raguet read journals and pamphlets about the growth of savings banks in Great Britain. Interested in the idea, he communicated the concept to some other businessmen he knew, and together they created the Philadelphia Savings Fund Society. The first savings bank in the United States, the Philadelphia Savings Fund Society would eventually grow into a respected Philadelphia institution that would last until 1992. Raguet was active in the early workings of the Philadelphia Savings Fund Society, working on committees to set up company operations, drafting by-laws, and creating a charter. In 1820 he submitted his resignation to the Board of Directors of the Philadelphia Savings Fund Society due to planned absences from the city. Initially the board rejected his resignation, but after he stopped attending board meetings, the board accepted his resignation in July 1821.
Other activities of Raguet included law, with Raguet being admitted to the Philadelphia bar association in 1820. At other points in his life Raguet was president of the Chamber of Commerce and a member of the American Philosophical Society. As early as 1816 Raguet was also active in creation of a congregation based on Swedenborgianism.
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Condy Raguet
Condy Raguet (January 28, 1784 – March 22, 1842) was the first chargé d'affaires from the United States to Brazil and a noted politician and free trade advocate from Philadelphia, Pennsylvania. Of French descent, Raguet was educated at the University of Pennsylvania. After graduating he began studying law but had to give up his studies after the death of his father. He briefly worked as supercargo for a counting house, before going into business for himself. He later worked as manager or president for several companies, the most notable being the Philadelphia Savings Fund Society. In 1816 Raguet read about the growth of savings banks in Great Britain and liked the idea; he approached other Philadelphia business associates and together they created the Society, the first savings bank in the United States.
As a member of the Federalist Party Raguet was elected to the Pennsylvania House of Representatives in 1815 and to the Pennsylvania State Senate in 1818. In 1821 President James Monroe made Raguet consul to Brazil. After Brazil became independent, President John Quincy Adams made Raguet the chargé d'affaires to Brazil. In this post, Raguet became increasingly frustrated with Brazil's lack of response to complaints by the United States of its citizens being forced to work on Brazilian warships against their will. Raguet's communications with the Brazilian government became increasingly forceful and undiplomatic to the point that he once wrote to the U.S. State Department that he was so frustrated he could hardly consider the Brazilians a civilized people. Despite urges from Washington, D.C. to improve his approach to Brazil, Raguet abruptly left the country after the Imperial Brazilian Navy seized a former U.S. warship. Adams would later write that, despite having good intentions, Raguet's "rashness and intemperance" nearly "brought this country and Brazil to the very verge of war."
After Adams rejected any possibility of Raguet's returning to diplomatic work, Raguet returned to business in Philadelphia. Having his economic views shaped by the Panic of 1819, he became one of the most prominent advocates of free trade in the United States. He edited numerous journals relating to free trade and wrote and published works on the subject. The most notable was On Currency and Banking; published in 1839, Samuel J. Tilden called it "the best treatise on banking ever published in the country".
Condy Raguet was born on January 28, 1784, in Philadelphia, Pennsylvania. Of French descent, Raguet was educated at the University of Pennsylvania and for eighteen months after graduating he studied law. He had to give up his studies after the death of his father and became a merchant for a counting house. In 1804 he was sent to Santo Domingo as supercargo for a ship. He spent four months there and on his return he wrote and published A Short Account of the Present State of Affairs in St. Domingo. Raguet returned for eight months in 1805 and again published a book about events on the island. On December 23, 1807, Raguet was married to Catherine S. Simmons.
In 1806, Raguet went into business and soon became the president and manager of several companies. During the War of 1812 he served as a colonel and took a prominent role in preparing defenses for Philadelphia. In 1815 Raguet went into politics when he was elected to the Pennsylvania House of Representatives as a member of the Federalist Party. In 1818 he was elected to the Pennsylvania State Senate for the 1st district, a position he held until 1821.
He was elected to the American Philosophical Society in 1822.
In 1816, while president of the Pennsylvania Company for Insurances on Lives and Granting Annuities, Raguet read journals and pamphlets about the growth of savings banks in Great Britain. Interested in the idea, he communicated the concept to some other businessmen he knew, and together they created the Philadelphia Savings Fund Society. The first savings bank in the United States, the Philadelphia Savings Fund Society would eventually grow into a respected Philadelphia institution that would last until 1992. Raguet was active in the early workings of the Philadelphia Savings Fund Society, working on committees to set up company operations, drafting by-laws, and creating a charter. In 1820 he submitted his resignation to the Board of Directors of the Philadelphia Savings Fund Society due to planned absences from the city. Initially the board rejected his resignation, but after he stopped attending board meetings, the board accepted his resignation in July 1821.
Other activities of Raguet included law, with Raguet being admitted to the Philadelphia bar association in 1820. At other points in his life Raguet was president of the Chamber of Commerce and a member of the American Philosophical Society. As early as 1816 Raguet was also active in creation of a congregation based on Swedenborgianism.