Haym Salomon, American Revolution Spy and Financier

Born to a Sephardic Jewish family in Poland, Haym Salomon emigrated to New York during the American Revolution. His work in support of the American Revolution—first as a spy, and later brokering loans—helped the patriots win the war. Fast Facts: Haym Salomon Also Known As: Chaim SalomonKnown For: Former spy and financial broker who worked in support of the American Revolution. Born: April 7, 1740 in Leszno, PolandDied: January 6, 1785 in Philadelphia, Pennsylvania Early Years Haym Salomon (born Chaim Salomon) was born on April 7, 1740 in Leszno, Poland. His family was part of a group of Sephardic Jews descended from Spanish and Portuguese immigrants. As a young man, Haym traveled all over Europe; like many Europeans, he spoke several languages. In 1772, Salomon left Poland, following the country’s partitioning that essentially removed its status as a sovereign nation. He decided to try his luck in the British colonies, and he emigrated to New York City. War and Espionage By the time the American Revolution broke out, Salomon had already established himself as a businessman and financial broker in New York City. At some point in the 1770s, he became involved in the patriot movement and joined the Sons of Liberty, a secret organization that fought against British taxation policies. Salomon had a supply contract with the patriot army, and at some point in 1776, he was arrested in New York by the British for espionage. Although it is not known for certain that Salomon was a spy, the British authorities seem to have thought so. However, they decided to spare him from the traditional death sentence for spies. Instead, they offered him a pardon in exchange for his linguistic services. The British officers needed translators to communicate with their Hessian soldiers, most of whom spoke no English at all. Salomon was fluent in German, so he served as an interpreter. This didn’t exactly work the way the British wanted it to, as Salomon used his translating as an opportunity to encourage as many as five hundred German soldiers to desert the British ranks. He also spent a lot of time helping patriot captives escape from British prisons. He was arrested for espionage again in 1778, and sentenced to death once more. This time, there was no offer of pardon. Salomon managed to escape, fleeing to Philadelphia with his wife and children. Although he was virtually penniless when he arrived at the rebel capital, within a short amount of time he re-established himself as a merchant and financial broker. Financing the Revolution Once he had settled comfortably in Philadelphia and his brokerage business was up and running, Salomon was appointed to the role of paymaster general for French troops fighting on behalf of the colonists. He was also engaged in selling securities that supported Dutch and French loans to the Continental Congress. In addition, he advanced funds personally to members of the Continental Congress, offering financial services below market rates. Over a three year period, Salomon’s financial contributions to George Washington and the war effort totaled well over $650,000, which translates to upwards of $18M in today’s currency. Much of this money was funneled into Washington’s accounts in the latter part of 1781. In August of 1781, British general Charles Cornwallis and his troops were penned in near Yorktown. Washington’s army had Cornwallis surrounded, but because Congress was essentially out of money, the continental troops hadn’t been paid in some time. They were also low on rations and crucial uniform components. In fact, Washington’s soldiers were close to staging a coup, and many were considering desertion as a better option than staying in Yorktown. According to legend, Washington wrote to Morris, and asked him to send Haym Salomon. Bruce Leighty / Getty Images Salomon managed to secure the $20,000 in finances that Washington needed to keep his men fighting, and ultimately, the British were defeated at Yorktown, in what would be the final major battle of the American Revolution. After the war ended, Salomon brokered numerous loans between other nations and the newly formed United States government. Final Years Sadly, Haym Salomons financial efforts during the war led to his downfall. He had loaned out hundreds of thousands of dollars during the Revolution, and because of the unstable economy in the colonies, most private borrowers (and even government entities) were unable to repay their loans. In 1784, his family was nearly penniless. Salomon died on January 8, 1785 at the age of 44 from complications from tuberculosis, which he had contracted while in prison. He was buried at his synagogue, Mikveh Israel, in Philadelphia. In the 1800s, his descendants unsuccessfully petitioned Congress for compensation. However, in 1893, Congress decreed that a gold medal be struck in Salomons honor. In 1941, the City of Chicago erected a statue featuring George Washington flanked by Morris and Salomon. Sources Blythe, Bob. â€Å"The American Revolution: Haym Salomon.†Ã‚  National Parks Service, U.S. Department of the Interior, www.nps.gov/revwar/about_the_revolution/haym_salomom.html.Feldberg, Michael. â€Å"Haym Salomon: Revolutionary Broker.†Ã‚  My Jewish Learning, My Jewish Learning, www.myjewishlearning.com/article/haym-salomon-revolutionary-broker/.Percoco, James. â€Å"Haym Salomon.†Ã‚  American Battlefield Trust, 7 Aug. 2018, www.battlefields.org/learn/articles/haym-salomon.Terry, Erica. â€Å"Haym Solomon: The Man Behind the Myth of the Dollars Star of David.†Ã‚  Jspace News, 12 Dec. 2016, jspacenews.com/haym-solomon-man-behind-myth-dollars-star-david/.

Persuasive Against School Uniforms - 716 Words

Do you think school uniforms will help your child not become bullied? Well, you’re wrong. Studies are showing that school uniforms are beginning to cause bullying instead of preventing it. School uniforms are becoming a bigger and bigger problem in today’s society. They are very expensive, they do not allow students to express themselves, and they are not helpful for students to try and find out who they are. On average parents will pay close to $300 per child every year for school uniforms. Students and parents both have sides to why this trend is bad and why it is good. Some students and parents think that school uniforms help students perform better in school, attain a better attendance record, and fit in easier among their†¦show more content†¦The parents can not afford to spend all the money of the â€Å"required† uniform, so they buy a knockoff version of it. This will then make their child stand out again and they can get bullied by classmates and singled out by faculty members. To help this problem uniforms should not be allowed. They are causing more problems than they are solving, by causing bullying instead of preventing it. One of the most commonly stated reason that uniforms should not be allowed in public schools is that it takes away from letting students show their true individuality. Uniforms put all the students in the same box and do not let them show their personality through their clothes. At most schools, clothing is a big indicator of how a person acts or how their personality is. Some people argue that this helps stop gang violence at a school or makes everyone feel equal. Although these may be true, uniforms still do not let kids be themselves. The main thing wrong with today’s society is that teens have been put in boxes for a very long time so they do not know how to be themselves and think for themselves. Uniforms help this because they make everyone alike and do not give kids a chance of being themselves. 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One of her most well-known works, entitled A Vindication of the Rights of Woman was a persuasive essay pleading the g overnment for state-regulated education for girls. Her father was also a radical political philosopher and novelist and despised the entire institution of marriage. ( ) With all of this behind her, it is an easy assumption to

An Analysis of On Sitting Down To Read King Lear Once...

An Analysis of On Sitting Down To Read King Lear Once Again nbsp; The poem On Sitting Down to Read King Lear Once Again by John Keats is a sonnet about Keats relationship with the drama that became his idea of tragic perfection, and how it relates to his own struggle with the issues of short life and premature death. Keats uses the occasion of the rereading this play to explore his seduction by it and its influence on himself and his ways of looking at himself and his situation in spite of his negative capability. nbsp; From the first few lines Keats alludes to the great romances of the previous ages as opposed to William Shakespeares great tragedies. While it could be discerned that Keats is referring to his poem†¦show more content†¦nbsp; The second quatrain gives the reader the insight of the reasons why he must pull himself away from the pull of the Romance and focus on the tragedy. Keats writes once again, the fierce dispute/ Betwixt damnation and impassiond clay/ Must I burn through, (5 - 7). This shows that while tragedy, in this case King Lear, may not be as attractive as the fair plumed Syren (2) he forsakes, it is much more necessary for Keats to burn through (7) tragedy in order to concentrate on his own impending mortality. As Keats forces himself to burn through; once more humbly assay/ The bitter-sweet of this Shakesperian fruit (7 - 8) Keats is faced with that that is bitter (his knowledge of his mortality), and that that is sweet (his learning how to become immortal). In the line Chief Poet! And ye clouds of Albion. (9) it can be seen that Keats addresses both Shakespeare and England as if both were friends were friends as dear, all be they of different qualities, as the Syren of romance. Keats use of th e term Albion (9) identifies England in the terms used in an earlier time by the ancient Kelts. As King Lear is set in Keltic Britain we can see which piece of Shakesperian fruit (8) Keats is bearing here. LineShow MoreRelatedEssay about The Irrelevant God in Ernest Hemingways A Farewell to Arms2818 Words   |  12 PagesThe Irrelevant God in A Farewell to Arms      Ã‚  Ã‚  Ã‚  Ã‚   A Farewell to Arms begins with a gods-eye-view, cinematic pan of the hills surrounding Gorizia-the camera of our minds eye, racing forward through time, sweeps up and down the landscape, catching isolated events of the first year in the town as it goes. The film ultimately slows to a crawl, passing through the window of a whorehouse to meet the eyes of Frederic Henry watching the snow falling. As we attach ourselves to Frederic Henrys perspectiveRead MoreDamodaran Book on Investment Valuation, 2nd Edition398423 Words   |  1594 Pagesthe valuation should be considered before decisions are made on its basis. For instance, a self-valuation done by a target firm in a takeover is likely to be positively biased. While this does not make the valuation worthless, it suggests that the analysis should be viewed with skepticism. The Biases in Equity Research The lines between equity research and salesmanship blur most in periods that are characterized by â€Å"irrationa l exuberance†. In the late 1990s, the extraordinary surge of market values

Econ 201 Ch. 6 Elasticity of Demand Essay Example For Students

Econ 201 Ch. 6: Elasticity of Demand Essay The formula for cross elasticity of demand is percentage change in: quantity demanded of X/percentage change in price of Y. Refer to the diagrams. In which case would the coefficient of income elasticity be positive? A The price elasticity of demand coefficient measures: buyer responsiveness to price changes. The state legislature has cut Gigantic State Universitys appropriations. GSUs Board of Regents decides to increase tuition and fees to compensate for the loss of revenue. The board is assuming that the: demand for education at GSU is inelastic. The demand for autos is likely to be: less price elastic than the demand for Honda Accords. Refer to the information and assume the stadium capacity is 5,000. If the Mudhens management charges $7 per ticket: there will be 1,000 empty seats. Refer to the data. Suppose quantity supplied declined by 23 units at each price, changing the equilibrium price in a direction and amount for you to determine. Over that price range, demand is: inelastic. Studies show that the demand for gasoline is: price inelastic in both the short and long run. Refer to the diagram and assume a single good. If the price of the good increased from $5.70 to $6.30 along D1, the price elasticity of demand along this portion of the demand curve would be: 1.2. The price of product X is reduced from $100 to $90 and, as a result, the quantity demanded increases from 50 to 60 units. Therefore, demand for X in this price range: is elastic. The supply of product X is perfectly inelastic if the price of X rises by: 10 percent and quantity supplied stays the same. The greater the ease of shifting resources from product X to product Y in the production process, the greater is the elasticity of supply of product Y. True We would expect the coefficient of cross elasticity of demand for DVD players and DVDs to be positive. False If the coefficient of income elasticity of demand is positive, the product is an inferior good. False In which of the following instances will total revenue decline? Price rises and demand is elastic. Suppose the price of a product rises and the total revenue of sellers increases. No conclusion can be reached with respect to the elasticity of supply. Answer the question on the basis of the following demand and supply data: Refer to the data. The supply of this product is inelastic in the $6-$5 price range. False Which type of goods is most adversely affected by recessions? Goods for which the income elasticity coefficient is relatively high and positive. We would expect: the demand for Coca-Cola to be more price elastic than the demand for soft drinks in general. A perfectly inelastic demand curve: A perfectly inelastic demand curve: For a linear demand curve: demand is elastic at high prices. Gigantic State University raises tuition for the purpose of increasing its revenue so that more faculty can be hired. GSU is assuming that the demand for education at GSU is: relatively inelastic. Compared to coffee, we would expect the cross elasticity of demand for: Compared to coffee, we would expect the cross elasticity of demand for: Suppose the price elasticity coefficients of demand are 1.43, 0.67, 1.11, and 0.29 for products W, X, Y, and Z respectively. A 1 percent decrease in price will increase total revenue in the case(s) of: W and Y. Refer to the table. Over the $10-$8 price range, the elasticity coefficient of supply is: less than 1. If demand for a product is elastic, the value of the price elasticity coefficient is: greater than one. If the demand for bacon is relatively elastic, a 10 percent decline in the price of bacon will: increase the amount demanded by more than 10 percent. increase the amount demanded by more than 10 percent. the greater will be the price elasticity of demand. In which of the following cases will total revenue increase? Price rises and demand is inelastic. The price elasticity of demand is generally: negative, but the minus sign is ignored. It takes a considerable amount of time to increase the production of pork. This implies that: the short-run supply curve for pork is less elastic than the long-run supply curve for pork. A cross elasticity of demand coefficient of +2.5 indicates that the two products are substitutes. True Antiques tend to have highly inelastic supply curves. True A perfectly inelastic demand schedule: can be represented by a line parallel to the vertical axis. Refer to the diagrams. In which case would the coefficient of cross elasticity of demand be negative? C Which of the following goods (with their respective income elasticity coefficients in parentheses) will most likely suffer a decline in demand during a recession? Plasma screen and LCD TVs (+4.2) The narrower the definition of a product: the larger the number of substitutes and the greater the price elasticity of demand. A manufacturer of frozen pizzas found that total revenue decreased when price was lowered from $5 to $4. It was also found that total revenue decreased when price was raised from $5 to $6. Thus, the demand for pizza is elastic above $5 and inelastic below $5. The supply of known Monet paintings is: perfectly inelastic. Refer to the diagram. If price falls from P1 to P2, total revenue will become area(s): B + D. The larger the positive cross elasticity coefficient of demand between products X and Y, the: greater their substitutability. A linear demand curve has a constant elasticity over the full range of the curve. False (Consider This) The supply of higher education in the United States is: highly price inelastic. Most demand curves are relatively elastic in the upper-left portion because the original price: from which the percentage price change is calculated is large and the original quantity from which the percentage change in quantity is calculated is small. Refer to the table. Over the $6-$4 price range, supply is: inelastic. Refer to the diagram. Between prices of $5.70 and $6.30: D1 is more elastic than D2. The demand for a necessity whose cost is a small portion of ones total income is: relatively price inelastic. Suppose Aiyannas Pizzeria currently faces a linear demand curve and is charging a very high price per pizza and doing very little business. Aiyanna now decides to lower pizza prices by 5 percent per week for an indefinite period of time. We can expect that each successive week: demand will become less price elastic. If the elasticity coefficient of supply is 0.7, supply is elastic. False The price elasticity of demand for widgets is 0.80. Assuming no change in the demand curve for widgets, a 16 percent increase in sales implies a: 20 percent reduction in price. Assume that a 6 percent increase in income in the economy produces a 3 percent increase in the quantity demanded of good X. The coefficient of income elasticity of demand is: positive and therefore X is a normal good. If the University Chamber Music Society decides to raise ticket prices to provide more funds to finance concerts, the Society is assuming that the demand for tickets is: inelastic. The demand for a product is inelastic with respect to price if: consumers are largely unresponsive to a per unit price change. Refer to the diagram. In the P3P4 price range, demand is: relatively inelastic. The demand schedules for such products as eggs, bread, and electricity tend to be: relatively price inelastic. Answer the question on the basis of the following demand and supply data: .uc863909eb8a6b9bbd8814505ed6192ae , .uc863909eb8a6b9bbd8814505ed6192ae .postImageUrl , .uc863909eb8a6b9bbd8814505ed6192ae .centered-text-area { min-height: 80px; position: relative; } .uc863909eb8a6b9bbd8814505ed6192ae , .uc863909eb8a6b9bbd8814505ed6192ae:hover , .uc863909eb8a6b9bbd8814505ed6192ae:visited , .uc863909eb8a6b9bbd8814505ed6192ae:active { border:0!important; } .uc863909eb8a6b9bbd8814505ed6192ae .clearfix:after { content: ""; display: table; clear: both; } .uc863909eb8a6b9bbd8814505ed6192ae { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uc863909eb8a6b9bbd8814505ed6192ae:active , .uc863909eb8a6b9bbd8814505ed6192ae:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uc863909eb8a6b9bbd8814505ed6192ae .centered-text-area { width: 100%; position: relative ; } .uc863909eb8a6b9bbd8814505ed6192ae .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uc863909eb8a6b9bbd8814505ed6192ae .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uc863909eb8a6b9bbd8814505ed6192ae .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uc863909eb8a6b9bbd8814505ed6192ae:hover .ctaButton { background-color: #34495E!important; } .uc863909eb8a6b9bbd8814505ed6192ae .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uc863909eb8a6b9bbd8814505ed6192ae .uc863909eb8a6b9bbd8814505ed6192ae-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uc863909eb8a6b9bbd8814505ed6192ae:after { content: ""; display: block; clear: both; } READ: Supply and Demand Essay Refer to the data. The demand for this product is elastic in the $8-$7 price range. True We would expect the cross elasticity of demand between dress shirts and ties to be: negative, indicating complementary goods. Refer to the diagrams. The case of complementary goods is represented by figure: C. Which of the following generalizations is not correct? The price elasticity of demand is greater for necessities than it is for luxuries. Refer to the data. Suppose quantity demanded increased by 12 units at each price, changing the equilibrium price in a direction and an amount for you to determine. Over that price range, supply is: inelastic.