Fun Facts About Timothy Dexter
Timothy Dexter was an eccentric 18th-century American merchant from Massachusetts who achieved legendary wealth through a sequence of seemingly foolish, highly improbable commercial ventures. Dexter first built a fortune in the wake of the Revolutionary War by purchasing massive amounts of depreciated Continental currency for pennies on the dollar, which yielded vast returns when Alexander Hamilton’s Funding Act of 1790 allowed debt to be funded with new federal bonds. Dexter expanded his wealth when competitors repeatedly tried to ruin him with bad advice: he shipped stray cats to the…
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