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Stephen GirardAAmerican banker and philanthropist
Date of Birth: 20.05.1750
Country:  USA |
Content:
- Early Life and Family
- Maritime Career and Arrival in Philadelphia
- Marriage and Personal Life
- Yellow Fever Outbreaks
- Girard Bank
- Legacy
- Historical Significance
Early Life and Family
Stephen Girard, an American banker and philanthropist of French descent, was born near Bordeaux, France. Despite losing sight in one eye at age eight and receiving little formal education, Girard embarked on a remarkable journey that would leave an enduring legacy in Philadelphia.
Maritime Career and Arrival in Philadelphia
Girard's father, a sea captain, encouraged his son's passion for the sea. Between 1764 and 1773, Girard traveled to the West Indies and back. In 1774, he became a certified captain and traveled to New York, where he established a trade route between New Orleans and Port-au-Prince. In 1776, Girard arrived in Philadelphia on a British naval vessel and settled there as a merchant.
Marriage and Personal Life
In 1776, Girard married Mary Lum, a Philadelphia native. They resided in Mount Holly Township, New Jersey. Mary's mental health deteriorated over time, leading to a diagnosis of incurable mental instability. Girard remained at her side for many years but eventually began an affair with Sally Bickham. Mary resided in a hospital until her death in 1815.
Yellow Fever Outbreaks
During the Yellow Fever outbreaks of 1793 and 1797-1798, Girard selflessly volunteered his services to care for the sick and dying. He transformed his mansion into a hospital and recruited volunteers to help. His heroic actions were recognized by the city.
Girard Bank
In 1811-12, Girard established his own bank by purchasing the buildings of the First Bank of the United States. By owning the firm outright, he avoided government regulations that required government approval for stockholder-based banks. During the War of 1812, Girard provided unlimited credit to the U.S. government, effectively financing the war effort. In gratitude, he was granted favors and became a director and major stockholder in the Second Bank of the United States. Girard Bank continued to operate until 1983, when it was acquired by Mellon Bank.
Legacy
On Christmas Eve 1830, Girard suffered a severe injury after being run over by a horse. Despite the accident, he recovered and lived for another year. Without any children, Girard bequeathed his entire fortune to charity, particularly to the education of orphans in Philadelphia and New Orleans. He was interred at the Girard College, which was established in his will. Girard Avenue in Philadelphia and several towns are named in his honor.
Historical Significance
Stephen Girard was one of the wealthiest individuals in American history, both in absolute terms and relative to the GDP of his time. He played a pivotal role in supporting the United States during the War of 1812 and is remembered as a philanthropist whose legacy continues to benefit Philadelphia and beyond.
