Library of Congress
Map of George Washington’ s farm at Mount Vernon, based on his own drawings.
commodities for trade throughout America, the West Indies, and Europe. Hard work— for he viewed industry as both a natural and a moral quality— built his fortune. But so did practices he learned through instruction and experience: prudence, attention to detail, transparency, clear and active communication, honesty, experimentation and boldness tempered by thrift. Washington’ s progress to ward personal wealth— he left behind a sprawling estate of over 50,000 acres and almost achieved millionaire status at a time when the distinction was rare indeed— makes up part of his story.
Even as he grew personally wealthy, Washington set the course for national prosperity. His personal experiences and abilities as an entrepreneur inspired his policies both as general and as President. Such was the case with his dread of debt. Unfortunately for posterity, Washington never kept a dream journal. In his nightmares, he was probably pursued by hordes of bayonet-wielding redcoats or hounded by Thomas Jefferson and his baying minions of the press. More frequently, Washington must have woken up drenched in sweat after dreaming that he had opened up his account books to discover his estate swamped by unsustainable debt. He spent the balance of his life straining to keep this dreadful experience from becoming reality for either himself or his country. Other principles guiding his economic policies included fiscal stability, national unity and peace. Never, though, did he aspire to command prosperity. He thought of the economy as a kind of self-sustaining machine.
Government’ s job was to keep it clean, well-oiled and secure. The people fueled it, set it in motion and— after a tithe to the government to fund its expenses— reaped the benefits. The operation was both natural and simple. Always, though, he exhorted the people to keep one principle in mind: work together, or perish separately. Washington was the unifier to guide them.
Edward G. Lengel is an American military historian and professor at the University of Virginia. He is the director of the Washington Papers documentary editing project in Charlottesville, VA. Adapted excerpt from First Entrepreneur: How George Washington Built His— and the Nation’ s— Prosperity by Edward G. Lengel. Copyright © 2016. Available from Da Capo Press, an imprint of Perseus Books, a division of PBG Publishing, LLC, a subsidiary of Hachette Book Group, Inc.
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