By Damien Cregeau
James Swan played an important role as a financier of the American Revolution , though he is largely forgotten today . While not as famous as financier Robert Morris , Swan led a colorful life as an Army colonel , merchant , real estate magnate , investor and international liaison . His marriage to socialite Hepzibah Clarke in 1776 only enhanced his social standing and investing opportunities in both the United States and France .
Swan ’ s life might be oversimplified as rags to riches — and rags to riches again . He immigrated to Boston from Fife , Scotland in 1765 . His first known employment was at Thaxter and Son , an accounting and book-binding company , where he became friends with Benjamin Thompson , later knighted Count Rumford ( by the King of Bavaria ), and Henry Knox , who became famous as a major general in the US Continental Army .
At the age of 18 , Swan wrote a well-read pamphlet challenging the African slave trade in Great Britain and its colonies , entitled , “ A Dissuasion to Great Britain and the Colonies from the Slave Trade to Africa .” He argued against slavery on moral , religious and business grounds . Publishing such a pamphlet was quite intrepid , as several notable Boston families were involved in such trade .
Swan took great interest in the rising discontent with the various British acts intended to raise revenue to repay debts incurred to defeat the French in the Seven Year ’ s War ( known in North America as the French and Indian War ). The young Swan got swept up in the patriotic fervor , joining the Sons of Liberty and participating in the Boston Tea Party .
Years later , after the Revolutionary War had erupted in 1775 , Swan put his local militia training to the test and fought at the Battle of Bunker Hill , where he was twice wounded . In 1776 , he was promoted
1795 portrait of James Swan painted by Gilbert Stuart . Collection of the Museum of Fine Arts , Boston . to captain in Colonel Thomas Craft ’ s regiment of artillery . That March , he and his friend Colonel Henry Knox were present on Dorchester Heights among the patriot artillery batteries that shocked and intimidated British General William Howe into evacuating British forces from Boston .
Also in 1776 , Swan courted and married Hepzibah Clarke . The daughter of a wealthy merchant , she was considered among the most cosmopolitan , intelligent and erudite ladies in Boston . Her peers considered her quite charming , and she was life-long friends with Henry Knox and Henry Jackson , as well as architect Charles Bulfinch and Harrison Otis . The couple had four children : Hepzibah , Christiana , Sarah and James .
The Swans invested in privateer enterprises during the war , co-owning the ill-fated schooner Bunker Hill , commissioned in August 1777 with six cannons , but captured by the Royal Navy in May 1778 . Swan also owned the privateer sloop America and was an investor in the Boston , one of the largest privateers ever commissioned — a hefty 300-ton , three-deck ship that had been captured in 1776 as the British merchant ship Zachariah Bayley .
Once the war ended , Swan began to speculate on land in many locations , often buying the confiscated property of Tories in Boston . He owned a considerable amount of lucrative property in Boston , including an estate on Tremont Street once owned by Governor Thomas Hutchinson , which became valuable real estate . Swan also bought the former estate of Colonel Estes Hatch , who upon his death had left it to his son , Nathaniel . The property included 60 acres in the most valuable part of Boston — on the southern side of Dudley Street , near Dorchester .
Swan also became one of the largest landowners in present-day West Virginia . His largest acquisition there was a 500,000 acre tract that straddled the current counties of Logan , McDowell , Mingo and Wyoming , which he had acquired from Philadelphia banker and financier Robert Morris . Swan also bought many tracts of 20,000 to 50,000 acres ; it is estimated that he eventually owned six million acres .
Following the American Revolution , the Swans lived at the corner of West and Tremont Streets . This property was later sold and converted into a garden theatre . The house he owned on Dudley Street was one of the old pre-war mansions in the fashionable part of the city . Their equally-fashionable French style home in Dorchester was built in 1796 .
The Swans provided lively entertainment at their Tremont estate . Among those who visited were Marquis de Lafayette , their close friends Henry and Lucy Knox and other socially-connected couples visiting from New York and Philadelphia .
On February 25 , 1785 , Swan bought a large island off the coast of Maine that still pays homage to its early owner with the name , “ Swan ’ s Island .” He also purchased each of the small islands within three miles of any part of what was then called , “ Burnt Coat Island .” Swan had acquired approximately 12,800 acres for £ 1,920 .
Swan ’ s acquisition of islands off the coast of Maine might well have been suggested by his good friend , Henry Knox , who owned a vast swath of millions of acres of land along the coast of Maine , with his house located in Thomaston , not far from Swan ’ s Island . Hebzipah ’ s friendship with young architect Charles Bulfinch resulted in his design and the erection of a fine mansion for the Swans on Swan ’ s Island that was done in the French-Neoclassical style . The Knoxes were inspired to emulate the style and size of this mansion with their famous Montpelier , built in 1794 and named in honor of France ’ s support during the Revolutionary War .
Some of these land speculations were apparently not favorable for Swan , and he became deeply indebted during the postwar economic depression , which was at its worst in 1786 . However , despite his financial setbacks , one scholar asserts that Swan helped suppress the great manifestation of the financial frustrations of 1786 : Daniel Shays ’ Rebellion in Massachusetts .
The same week that Swan bought his islands , his close friend Knox wrote to George Washington , asking him the favor of sending letters of recommendation and
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