Businessman. The son of a Scottish weaver, at the age of 20 he moved to Liverpool, England where he worked as a shipping clerk and eventually became part owner of a merchant ship. In April 1784, he sailed to America with a cargo of goods that were his own profit stock. He used the proceeds to invest in a mercantile company in New York City, New York. He later moved to Petersburg, Virginia and engaged in the export of tobacco to England. In 1793 he moved back to New York City and became a commissary merchant and shipowner. He then expanded his interests and became active in the banking and insurance industries. He was a director of New York City's earliest savings bank, the New York Bank for Savings. He was an incorporator of the Eagle Fire Insurance Company and vice president of the New York Insurance Company, a director of the US Bank and of the Bank of America. From 1808 until 1825 he served as vice president of the New York Chamber of Commerce. In 1798 he purchased a large tract of land on Horn's Hook near the East River where he constructed a large two-story wooden mansion. However, by 1823 he fell heavily in debt and was forced to sell his home and died six years later at the age of 73. In 1891 the City of New York purchased the property and the home now serves as the residence of its mayor. His grandson, Archibald Gracie III, served as a general in the Confederate Army during the American Civil War who was killed at the Siege of Petersburg in 1864.
Businessman. The son of a Scottish weaver, at the age of 20 he moved to Liverpool, England where he worked as a shipping clerk and eventually became part owner of a merchant ship. In April 1784, he sailed to America with a cargo of goods that were his own profit stock. He used the proceeds to invest in a mercantile company in New York City, New York. He later moved to Petersburg, Virginia and engaged in the export of tobacco to England. In 1793 he moved back to New York City and became a commissary merchant and shipowner. He then expanded his interests and became active in the banking and insurance industries. He was a director of New York City's earliest savings bank, the New York Bank for Savings. He was an incorporator of the Eagle Fire Insurance Company and vice president of the New York Insurance Company, a director of the US Bank and of the Bank of America. From 1808 until 1825 he served as vice president of the New York Chamber of Commerce. In 1798 he purchased a large tract of land on Horn's Hook near the East River where he constructed a large two-story wooden mansion. However, by 1823 he fell heavily in debt and was forced to sell his home and died six years later at the age of 73. In 1891 the City of New York purchased the property and the home now serves as the residence of its mayor. His grandson, Archibald Gracie III, served as a general in the Confederate Army during the American Civil War who was killed at the Siege of Petersburg in 1864.
Bio by: William Bjornstad
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