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Business History Minute…Robert Morris | AeroFund provides invoice factoring & accounts receivable financing lines of credit nationwide

January 28, 2013 by admin in BUSINESS HISTORY NEWSLETTER with 0 Comments

Robert Morris…was the major financier of the revolution, providing his whole fortune for Washington’s army to fight the British to become a free nation.

Robert Morris, after the war, was asked by Washington to be the Secretary of the Treasury but he declined, he recommended a friend of his, Alexander Hamilton.

Morris wanted to get back into business, and he did. He bought land all up and down the new country. After a recession in the United States he wound up heavily in debt. After being in debt his creditors pursued him and threw him in debtors prison. The man that financed the revolution was in debtors prison. He languished for eight years before his friends convinced Congress to pass the first Bankruptcy Act which released Robert Morris.

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